Hi traders,
let's look at a fact so simple you probably never took it into consideration! Most of the traders with at least some experience will acknowledge the key to profit is psychology rather than a magical pattern. Time plays a big role in our thought process. Let's combine time with basic math:
Each stock has it's own "tempo" which of course varies, but we can eyeball it. Let's say it moves 1 dollar every hour. Your SL is 50c and you are using 2:1 RRR. See the point? If it hits your SL, it will be much quicker than if you are right but have to endure the hour-long journey to your Profit Target.
This is one of the reasons after a few losses you get the feeling "The market is after me!! Every time I enter it kicks me right out!".
Thank you for your attention and I hope this little piece helps you rationalize some of your fears.
Tom | FINEIGHT
let's look at a fact so simple you probably never took it into consideration! Most of the traders with at least some experience will acknowledge the key to profit is psychology rather than a magical pattern. Time plays a big role in our thought process. Let's combine time with basic math:
Each stock has it's own "tempo" which of course varies, but we can eyeball it. Let's say it moves 1 dollar every hour. Your SL is 50c and you are using 2:1 RRR. See the point? If it hits your SL, it will be much quicker than if you are right but have to endure the hour-long journey to your Profit Target.
This is one of the reasons after a few losses you get the feeling "The market is after me!! Every time I enter it kicks me right out!".
Thank you for your attention and I hope this little piece helps you rationalize some of your fears.
Tom | FINEIGHT