theroguetrader
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Thanks again all for the replies!!
Discipline is something I do believe I have, just what I am being disciplined to isn’t all that great, but who knows. If it comes to pulling a trade, for example, do you take the approach "premature exit is not following the system rules - naughty boy!" or do you take the belief "premature exit based on some analysis is a good thing, the system doesn’t know what you do - good boy!" Which belief does one take? What is discipline therefore?
Do you all think that a good trading system comes from using indicators and entry/exit rules set in stone or indicators and going in and out based on gut feelings? What is everyone’s belief on these grey box systems? I know for a fact that is what all the big players use nowadays.
I believe I have what it takes to be a trader (I feel it is in the blood) just finding a system to trade that is reliable is the sticking point. I know no system is perfect!
Cheers
Bob
Hey Bob,
The belief that you have "already " makes you a trader..!! try not to look at it like possibly having a " eureka or Holy Grail moment - its a practice thing, like learning to ride a bike or drive a car and the more you do it, the better your skills become.
Some of THE worst experiences happen when you feel like a rabbit stuck between the headlights and NOT KNOWING WHAT TO DO - PANIC.... !!
A good system is one that works for "YOU " - your personality will tell you what kind of time frames your most comfortable trading in - and just try and go with the flow a bit more.
generally speaking, humans have trouble following systems, and they try to " second guess it "... !! (GREED) - basically that stems from a lack of discipline -
By having a mechanical entry/exit rule or at least a firm mental one, you eliminate the emotion - EVERYONE hates losses (if they say otherwise, they dont trade). The first loss is usually the SMALLEST.. !! sure it hurts a bit - but because traders/investors dont like to " admit to themselves when they are wrong " - they will stick with a loss until its REALLY big - and then take it.. !!
Then it REALLY HURTS... !!
Trading Bots exist - but no one participant is able to push/influence/manipulate a market for any period for any length of time - particularly in futures..!!
The numbers involved would be so enormous - :-0