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One clarification ... the budget is for losing trades in one day exclusive
of winning trades. A big winner early in the day does not increase the
budget.
Earl
----- Original Message -----
From: "EAdamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, May 22, 2001 1:33 PM
Subject: Re: [RT] May 9 Results repetitive mistakes.
> I do have one rule which helps ... I have a rather tight daily loss budget
> ... once I've used it, that's it for the day even if the next trade looks
> fantastic. This at least forces me to pick and choose my trades carefully
> enough to avoid having to pass on really good setups ... wouldn't do for a
> system trader but my trading is discretionary.
>
> Earl
>
> ----- Original Message -----
> From: "Don Thompson" <detomps@xxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Tuesday, May 22, 2001 12:44 PM
> Subject: Re: [RT] May 9 Results repetitive mistakes.
>
>
> > Earl I find the same thing, I think I have made the same mistake maybe
a
> 4o
> > or 50 times.
> > It is really hard to avoid, you have to have a rule or something to
> replace
> > it. I find that
> > I am being impulsive. and impatient.
> >
> > don
> >
>
>
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