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Hi,
You would be surprised how many traders communicate with a view for strokes.
Imagine you are lacking in confidence about a planned trade or an open
trade or a change to your trading system.
One approach would be to do the work to test out the idea with your test
data, another could be to ask someone else on a trading forum.
The second method is the lazy way. It gets a positive stroke if someone
says "Yes, I like it.". It gets a negative stroke if someone says "It
does not make sense - I think this."
Another seeker of strokes is the trader who tells you about his specific
big closed or open trading loss or recent great win hoping for
commiseration or congratulation or at least fellow feeling. A good
wallow in emotions can compensate for having losses or so few successful
trades that gloating is required.
Be wary of anyone who tells you, in public, about a single entry or exit or
forecast of one trading instrument unless it is just an illustration of an
idea or concept or trading system.
If they are unlucky enough to get a response in kind, before they know it
they are trading whims and tips again, not their trading system. Worse
still, to some others on the forum, their specific trade information is
potentially a whim or tip. They have passed on an infection, to those as
weak as themselves, as damaging as the flu.
Grow up - build slowly your own trading system and with it your
self-confidence. Sure you can get ideas for market behaviours and trading
systems etcetera from others but be sure to verify the market behaviours
for yourself and make sure your trading system remains in line with the
market behaviours.
Whims and tips slowly destroy your self-confidence and that of any others
that are foolish enough to be influenced.
So do not pass on the trading equivalent of the flu. Ask for advice on a
forum in a manner without mentioning one particular stock or current price
or current status of an indicator.
Ask in a way that uplifts as the answers will be useful to others, such as:
- if I think the market is rising/falling, what do you find is the best
indicator
for early entry to the trend - I use xxx with some success for falling
markets but it does not seem to be good for rising markets,
- what are the considerations a fundamental player would use to assess
the banking industries prospects,
- my favourite market behaviour to trade is xxx - it gives profitable
opportunities in the yyy market at least twice a week,
- my trading confidence rose when I did ..., what are your techniques of
confidence building,
- what is your approach to trading stop-loss orders, mine is ...,
- where can I find free data for the currency markets, I want tick data and
daily open high,low, close,
- my experience of learning to overcome ???? is, is this unique?
It is not necessary to infect others with your trading flu.
You will get more useful feedback from the forum and so will everyone else.
So now, perhaps, you know some of the reasons some traders publish specific
trade information? And as it is a compulsion for them - have genuine
pity, and most importantly do not compound their problem.
Unconditional regards, Ric.
www.traderscalm.com
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