Great post by @Jerome32 something I believe in and should practice what I preach in my head!!
This is a great little book! (no affilliation and all that crap… slight_smile:)
The title is specifically an attention grabber and the author admits as much saying this can’t be done but as a learning tool will be a great use of $500. Better than handing $500 over to “Fred’s Infinity 4X” Where you’ll experience returns like never before!!!
Not for the experienced folks, definitely for beginners. It has the basic stuff we should all embrace. He addresses @Jerome32 's small loss experiment even further and says on a lower time frame don’t wait for a signal instead flip a coin for short/long keeping losses small you’ll still probably make money. The idea is to become ruthless with losses.
This is where somebody will trot out the “death by 1000 cuts” stop loss argument but if the wins come with a giant band-aid and a pint of “O negative”? I am starting to doubt the veracity of this maxim.
I still have a hard time with this, being ruthless with losses and would like to keep my losses smaller. Even seeing better entry points I am still getting in too early. I have heard if you’re in “too early” you’re still wrong!
I’ve been told you need room for your trade to breath… and that works for some folks, we’ve seen examples of it here on the forum. But perhaps I shouldn’t let my losers breathe, Save that extra “oxygen” for the winners.
Mmmm. Something to consider.
Maybe it’s not about making money. Maybe it’s about being rewarded for not losing money!!!