When say a successful system fails? Is it greed or overuse?
Probally has been covered surely as much. But be interesting hear fresh feedback on this.
I mean should some systems come with a rating/warning .Successful only with moderate play? Ha
Cheers
Unless you are the proud owner of the H G ,all systems will occur down points and up points.
The "art" is to jump on at the bottom of the up point and to jump off at the top(ish) of the up point.(What did Sam used to call em?.. an upward tram?)
can't we usually seem to get 1,2,3 chips in front?...so make em bigger chips ..
So in my opinion yes greed does play a factor.
Nice one Blood Angel.
Of course no system is infalliable to downside.Reminds me of trading where discipline
is most important part getting handle on your emotions sticking to your plan and knowing when to call it a day! Though believe seem learn the most when you lose.
(The "art" is to jump on at the bottom of the up point and to jump off at the top(ish) of the up point). Take on board what saying. Optimistic getting better with each session when Mr Greed does rears its ugly head.
Cheers
Knowing when to stop and take a profit is the key to trading of any sort.
As Gann-trader, David Bowden, used to put it: "Always leave some profit on the table for others."
(He was the originator of the "Safety In The Market" courses.)
I call it.....knowing WHEN to kick a method to the side.
Here is what I do, PERFECT bookkeeping is a MUST! Lets say I am playing a method for quite some time, still in the black, doing great with it. If I see that it is slowly dropping off and I am close to being in the red, I stop playing that method FOREVER. I pocket whatever that NET happens to be and move on to the NEXT 'good idea'.
Ken
whatever system/method you gonna play should have been tested upon past recorded sessions and practiced. This will help you understand the nature and volume of risk involved. The progression should be mild and not very aggressive one. Never think of multiplying your money. Do not ever have a strategy to either lose all or win all. This is neither possible and nor practical.
Thanks for All feedback. Its definetely not falling on deaf ears very much appreciated! ! :thumbsup:
Cheers