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so first of all...before you get into the casino..you already defined
what is the max. losses you can take/tolerate for the day...and.....a
bit more..why?
okay lets say by the first hour the market clobbered you and hit your
daily loss allocation....i think one needs another extra 50% more to
give yourself a chance to fight back and maybe loss lesser by the end of
the day or even come back to make money.....so for example....you
allocate 1000 max loss a day...in actaulity it is 1500..that 500 extra
is the "extra" to give you a chance to fight back..but of course once
even if this is taken out..you are out for the day......
this is what i notice of our traders...after losses early on..they just
give it one more try.....so that means they have an allowance for their
losses..but thats it! if that is gone..you are out of the game for the
day...if you don't have this kind of discipline..you must not trade....
back to the trapeze....since we already have a net/safety system in
place...why are we afraid to plunge? as i sassume we already have
"tested". the swing and its rope that it can make us do our aero stunt
thingy and carry us to the other side...so....we should be more
confident that as long as we have the safety net or a parachute....we
can't die....the market can't kill us....at least for today.....
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