i actually working from long time to research study the key reasons behind the failure. i found that even most of among us even know that where the exact entry point is to be placed despite it we loose temper and enter before the time which does not allow our stop loss levels and after little later we see that our prediction was proved correct.
Trading successfully is not about “predicting” anything.
Entries are not a very important criterion, to the overall scheme of things. Risk-management and trade-management are overwhelmingly more significant to long-term outcomes.
This has been demonstrated and proven and explained in countless ways and in countless textbooks, but for some reason in beginners’ forums the myth persists that somehow, by magic, if you enter at exactly the right time and in the right direction, everything else will work out alright and you’ll be able to trade profitably. “If only.”
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sure
but waiting for months or weeks for seeking such break outs going long is also not possible and if its only the perfect then the scalp style is only so called and meaningless thing.
making from 0.5 to to few greater profit in a day is also possible.
there are so many varies between traders and investors personal needs requirements timetable i mean environment which also depends on it.
we se that there is global market countless instruments and many of it are very common to travel between specified distance i mean lo hi up down for at least 4 to 6 hours a day. it does not mean that we should ignore to bew active at that period or wait so long for long.
Hi
Your statement above depends on the underlying instrument and the time frame in which the traders wishes to invest. Here are two extremes that make up part of my portfolio:
Gold. I have been “in gold” since 1988, and the objective of that “trade” was a long term insurance policy against global catastrophes. That has been a 30+ year time horizon, and by anybody’s definition that is an investment, not a trade. But I do not differentiate between long term investment horizon, and short term trading horizon. Both extremes have the same objective - to end up with more assets than you started out with. Gold has done a 6X over 30+ years, and it is questionable whether it has every kept up with inflation. But even that inflation depends on the base currency you think in, or more to the point, the base currency in which you spend your hard earned money.
Crypto meme trading. This is a new addition to my trading portfolio, and represents 10% of 5% of my assets assigned to “extreme trading” (i.e., 0.5% of wealth currently). In this market, the volatility is of the order of hundreds of percent in hours. It is definitely not recommended for anyone unless you are prepared to lose many times over, but it is within my plan to do so.
In summary, if you are waiting months or weeks for a breakout, you must have limited your underlying assets to stuff that rarely experiences the volatility conditions for which your trading plan is designed. Either the underlying assets needs to be considered, or the boundary conditions of your trading plan need to be adjusted. Best of luck with trading.
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In all the simulations I’ve ever ran, the entry point was the least important metric, never changed profitability. There is no such thing as an “exact entry point”
Waiting for a breakout or confirmation of a reversal will always lag. If a stop loss order is placed, its your broker’s job to execute it.
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oh
yes sir
this is what i was asking about.
we can not compare one who has an age of 30 years or has a total of 50 to 300 usd or one who needs 1 usd a day for loverhood etc etc.
money makes money.
once you can build a honda showroom but remember you need
place
big cost
time
main power
marketing
and of course its a high class of business but as everyone can not afford.
i appreciate of you were told about your back ground economic or financial history and stability.
thanks