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Being Wrong

Holinesse Posted 7 Nov
Probably the most important thing about trading has nothing to do with fundamentals or technical analysis but about how you feel about a trade. I'm one of those proud arrogant people who has to be right all the time. It's not the kind of attribute a trader needs. A trader has to know when he's wrong and have the good grace to get out of a bad trade. It's like learning to apologise. Humility is both a cardinal virtue and a route to profitability. Why is this? Is Christian virtue largely to do wit…
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Rouble trade

Holinesse Posted 7 Nov  in #Trader's blog
The limitations of the competition take some getting used to. Setting a stop loss I've been too careless and inconsistent. Mostly the stop is too tight so I missed out on the huge EURUSD and GBPUSD crash.
But my Rouble short with a bigger stop loss seems to be working and I seem to be in luck. There has been a huge unexpected leap. The USDRUB curve on the chart is ridiculous. This was to a certain extent luck. I don't trade news, I only trade on the assumption that news will move the markets and…
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Day one of competition

Holinesse Posted 3 Nov  in #The Benefits Of Setting And Forgetting
This is going to be an enforced set and forget game. No changes of mind, no cancellations. There's no folding, just letting the trade play out to profit or stop. Perhaps brokerages should insist all its clients followed these rules. There'd be fewer wipeouts, although in this contest you can still trade up to maximum leverage and get wiped out early one. There's no 2% of capital rule, but as Max Gunter says in Zurich Axioms, there's no point risking something insignificant if you want to get ric…
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Ange_Farouche 3 Nov

you can risk more than 2% if you are confident about situation.

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