"When i trade at home, I often watch the sparrows in my garden. When I feed them bread, they take just a little piece at a time and fly away.They keep on flying back and forth, taking small bits of bread. You will never be able to shoot a sparrow, it is just too fast. That is the way I day trade". M. Weinstein.
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5 comments:
Excellent as always! :-)
I like your philosophy of small, but sure bits at a time. Are you simply entering after 2 positive bars in the direction of the trend? How do you exit?
Thank you Trader32. Not always excellent, I continue to make mistakes like anybody, we are just humans...
the 2 bars is a way to entry for sure, i look more on local supp/res levels. For exits, i trail my stop 1-3 bars behind the price.
We definitely need to be careful with these things. I mostly prefer to trade when I am sure about things while another great benefit for me is my broker OctaFX, they have excellent cash back service where I get 50% back on all trading orders including the losing trades too, so that’s definitely very cool and helps with the performance. Also, this is something that gives me license to be aggressive knowing I have got enough backup to cover the difficult moments.
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