Saturday, February 4, 2012

Gearing Back

A typical pattern for the successful intraday trader is:

lose money
lose less money
flat
consistently positive
expand your playbook on other trades
add size to your best trades which grows your P$L
But if you are just at the stage of losing money you should not even be thinking about adding size. There should be no delusion that you are close to breaking out as a trader. You are not. Your next steps are above. And you are not going to get to the stage where you should be sizing up for many stages. So be realistic about your work ahead and be patient.

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