Can We drastically boost trading profits...

[dekac]

Hi Traders

We are tired with all trading gurus telling us that we need to predict future price behavior to survive in the market ....
I think that's not a true ...
Fact is, we don't need to predict anything. To succeed, we simply need to identify the current trend and jump into that trend with perfect timing....looking simple , what you think about this strategy...

[mrgreen]

Hadn't been here in a while- and the first thing i see is that you have again posted the same non informative post u posted a month ago. Are you inspired by the nag message:
Hello <<so and so>> it appears that you have not posted on our forums in several weeks, why not take a few moments to ask a question, help provide a solution or just engage in a conversation with another member in any one of our forums?
and so u copy/paste your posts. LOL.

[mrgreen]

Now that I got that out of my system:
Mark Douglas states:

The Five Fundamental Truths…

1. Anything can happen.
2. You don’t need to know what is going to happen next in order to make money.
3. There is a random distribution between wins and losses for any given set of variables that define an edge.
4. An edge is nothing more than an indication of a higher probability of one thing happening over another.
5. Every moment in the market is unique.

…and The Seven Principles of Consistency

1. I objectively identify my edges.
2. I predefine the risk of every trade.
3. I completely accept the risk or I am willing to let go of the trade.
4. I act on my edges without reservation or hesitation.
5. I pay myself as the market makes money available to me.
6. I continually monitor my susceptibility for making errors.
7. I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them.

"An Edge is nothing more than an an indication of a higher probability of one thing happening over another"

[dekac]

Hi Traders

Have you ever felt like the market is just waiting for you to enter, then it goes the other way? Then just as you get out, the market seems to reverse and go exactly where you thought it would when you entered? It almost seems that the pros know where your emotional decisions will be made, then they trade against you!

Hi

Keep in mind -To be disciplined:
This principle is key for any type of trading but particularly for day trading.