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try to focus on oe strategy of your trading. backtest that and try to
improve. strategy should have a stoploss whatever it is. when you are
satisfied try applying, only that strategy and consistantly. when
there is a mistake, stop your tradig for a couple of days ad try to
aalyze the problem and market and try improving the strategy if
required.
rule of thumb: oe mistake should not clear all the profits. if so,
revise the strategy.
easy.. : ))
this is what i do and it works for me.maybe it'll help you.
good luck.
On 5/30/05, Brownscreek <leokarl@xxxxxxxxxxxxxx> wrote:
> Larry,
>
> You make some interesting points...especially the one about "trading
> mistakes". I'm ashamed to admit this but I seldom really know what
> constitutes a prior "mistake" to avoid, especially when initiating a trade.
> I'm willing to bet that stocks have recovered nicely after your failure to
> cut a loss, and that they've gone down steeply after you decided to sell at
> what you perceived to be a reasonable target.
>
> I'm sure there are true mistakes in life that can be avoided the second
> time around, but more often than not the similarities and correlations with
> past behavior are sufficiently different make them unrecognizable.
>
> You've probably heard the saying "third time is charmed".... a fairy
> tale about a guy who fails two times then has a marvelous epiphany which
> makes things work wonderfully on the third try. The same people who warn
> us about not repeating mistakes would, if pressed, relate stories of how
> their persistence through repetitive failures more than made up for earlier
> losses. Bull shit is it?....Yeah but I'd like to argue that so might be
> the notion of learning from mistakes. It's like one's first case of
> clap.....it seldom causes one to discontinue the offending activity.
>
> Mind you, I'm not recommending that we throw caution to the wind, but I
> could use more specific guidance on just how one avoids mistakes, or, better
> yet, how to identify them in the trading environment before they happen..
>
> Leo
> ----- Original Message -----
> From: kimlarinc
> To: Metastockusers@xxxxxxxxxxxxxxx
> Sent: Monday, May 30, 2005 12:51 AM
> Subject: [Metastockusers] Great Tip and New blog site with trading tips
>
>
>
> One other technique I find useful is to keep a log of my trading
> mistakes. This allows me to analyze my actions on a regular basis,
> and helps me avoid repeating those mistakes. Whether you are a
> novice or experienced trader, keeping a daily trading log can be
> extremely beneficial. Although it's a lot more fun to write and talk
> about our successes, recognizing and then removing the trading
> demons from your life is one of the quickest ways to become a
> profitable trader.
>
>
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