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View Full Version : Here are some bits of advice for a challenging week:



gapcap1
08-24-2015, 12:41 PM
If you are not nervous or fearful right now, that is very bad. You should be fearful. That is regardless of whether you are currently long or short.


If you are nervous, control your nerves and follow your discipline. If you've spent months/years developing a system, stick with it. Don't make excuses about this time is different.


If your discipline says that you should have a position of $X dollars (whether long or short), cut your position in half and double the size of your stop. That is, control your risk -- but don't change your methodology.

adam ali
08-24-2015, 07:47 PM
If you are not nervous or fearful right now, that is very bad. You should be fearful. That is regardless of whether you are currently long or short.


If you are nervous, control your nerves and follow your discipline. If you've spent months/years developing a system, stick with it. Don't make excuses about this time is different.


If your discipline says that you should have a position of $X dollars (whether long or short), cut your position in half and double the size of your stop. That is, control your risk -- but don't change your methodology.


Gapcap1, when you say double the size of your stop, what do you mean?

gapcap1
08-24-2015, 07:59 PM
if you normally trade 20 lots and risk 5 points, then trade 10 lots and risk 10 points

Harry
08-25-2015, 08:03 AM
if you normally trade 20 lots and risk 5 points, then trade 10 lots and risk 10 points

Excellent advice Gary!

adam ali
08-25-2015, 10:31 AM
Excellent advice Gary!

Wish I could take the credit! Thanks, GapCap1.