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<SNIP>
A lot of new traders have a toolkit of half-baked ideas for entering
trades, and pretty soon something looks tempting enough to buy. But it's
not a plan to trade that entry consistently for 30 trades or 6 months.
There may not even be an exit plan on the downside or upside. He has
a Reason for being in the trade (it's not throwing darts) but he's
not trading with a selection method because the next trade will
have a different reason. I therefore think that lack of method is
a big cause of actual non-random losses.
Sure, but that doesn't mean that you MUST have a system in order to trade successfully. I know many very successful traders who trade a VIEW not a collection of statistics.
I will be the first to admit that there is merit in mechanical trading systems, but that doesn't mean you can't trade a FEELING of the market successfully...just ask Soros....(or Neeson hehehe :)
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