I feel my view is what you consider misinformed da.
And I humbly accept I may have not completely represented my thoughts in previous post.
Don't mean to be the odd one ,to challenge a pro like you da.
I never sent out a message of trading without a defined target .I have always advocated having faith in ones own system about the target setting,and if we don't have faith we have an incomplete system.
I only meant to put forward the most common pitfall us traders face of imposing their own beliefs about reward they deserve for a certain risk they take,that market doesn't owe us anything
I wish to point out that market can change at minute notice and having a false feeling that market has an obligation to fulfill your take profit and the reward we have predecided despite the fact that situation in market has changed.
I wish to point out the moments when traders (me)included some times can impose our feeling of entitlement for a reward on the market.
I wish to put forward the psychological trap we sometimes fall into when we become battered from consistent loosers and revenge trade against the market,and select the trades by being wishful about the reward (reward being to recoup the losses).
I wish to point out that some trades are meant to be loosers only (despite all criteria for good setup meeting)and putting our money on the line for them is not justified just because of RR,that RR could be good but odds for success could be minimal,in this case countertrend trading.I remember many guys on FF screaming long eur in 2014 landslide fall saying it had good RR.
But fundamentally they were fighting a tide of endless shorts.
I think trading for a living involves different methods for different market situations and not just the methods with great Reward for risk taken.but also high accuracy trades with not so good RR from time to time as situation demands.
If I were to just rephrase my previous post it won't come off the way it did.What i meant we should not be preoccupied about the reward,because doing so would make us wish full and neglect the ebb and tide of the market.
Surely even good traders would also agreewith me on this, not all your 2 R trades were 2 R exactly .they were some times only 1 R and maybe even breakeven.did you call the be trades 0 R.
Not all trades give what we want and some are just plain wish full and reasoning they have dumbfounded.
Anyways I am only talking about psychological preoccupation with the reward.
Don't mean to challenge the norm here.
We all should strive for good RR I agree.
Hope I don't get misunderstood this time.
God bless you all
;-)
And I humbly accept I may have not completely represented my thoughts in previous post.
Don't mean to be the odd one ,to challenge a pro like you da.
I never sent out a message of trading without a defined target .I have always advocated having faith in ones own system about the target setting,and if we don't have faith we have an incomplete system.
I only meant to put forward the most common pitfall us traders face of imposing their own beliefs about reward they deserve for a certain risk they take,that market doesn't owe us anything
I wish to point out that market can change at minute notice and having a false feeling that market has an obligation to fulfill your take profit and the reward we have predecided despite the fact that situation in market has changed.
I wish to point out the moments when traders (me)included some times can impose our feeling of entitlement for a reward on the market.
I wish to put forward the psychological trap we sometimes fall into when we become battered from consistent loosers and revenge trade against the market,and select the trades by being wishful about the reward (reward being to recoup the losses).
I wish to point out that some trades are meant to be loosers only (despite all criteria for good setup meeting)and putting our money on the line for them is not justified just because of RR,that RR could be good but odds for success could be minimal,in this case countertrend trading.I remember many guys on FF screaming long eur in 2014 landslide fall saying it had good RR.
But fundamentally they were fighting a tide of endless shorts.
I think trading for a living involves different methods for different market situations and not just the methods with great Reward for risk taken.but also high accuracy trades with not so good RR from time to time as situation demands.
If I were to just rephrase my previous post it won't come off the way it did.What i meant we should not be preoccupied about the reward,because doing so would make us wish full and neglect the ebb and tide of the market.
Surely even good traders would also agreewith me on this, not all your 2 R trades were 2 R exactly .they were some times only 1 R and maybe even breakeven.did you call the be trades 0 R.
Not all trades give what we want and some are just plain wish full and reasoning they have dumbfounded.
Anyways I am only talking about psychological preoccupation with the reward.
Don't mean to challenge the norm here.
We all should strive for good RR I agree.
Hope I don't get misunderstood this time.
God bless you all
;-)
