“You’re taking a lot of trades and you’re getting stopped out a lot because you know occasionally you’re going to get the big winner…”
“Optimizing can help but again, you don’t know what the outcome is going to be. So you test 3 years and workout you can risk 5% and risk 5%. It could be too much. You could just have 3 really good years…”
“I think the traders who do well know how to deal with failure, basically. When you’re talking about these systems, do you think that it’s easier if you have somebody else helping you with that?…”
Have you ever been in an uber-focus mode and everything else is just a blurry haze? Darren and Walter dive into the rabbit hole of perception this discussion. Walter talks about the two critical pieces…
Wait for an engulfing candle to occur on the chart. The price that I pay for that is, by waiting for that candle actually form and print, that usually is going to mean that I’m going to have my stop loss pretty far away from my entry price because I waited for “confirmation” of the trade…
Which trading skill predicts your longevity in the markets? Darren and Walter reveal the best way for you to look at your trades and the reality of big trading returns. Why do money managers do this thing? The two traders talk about a poker player and what she can teach you about trading for consistent profits.