Posted by rgoodwin on 20th of Apr 2009 at 01:02 pm
You should do some reading on this subject. One book I am
getting some good insight from is Van Tharp - Trade Your Way to
Financial Freedom. It focuses on just this very subject. Large book
to read - but pretty decent. It's very difficult for anyone to
advise how much you should put into any one trade. Not only that -
you need to know your risk tolerance. If you make your trades based
on an expected GAIN, that is just not the right mental mind set.
You need to make trades knowing a loss CAN happen - and know your
tolerance for such a loss such that it will not create an emotional
reaction if it should go that way. A positive close also should not
generate a euphoric reaction either. Although the mechanicals are
all up nicely at the moment, they can, and have been known to
totally reverse and close at a loss. Others here may have some
different insight - this is just my personal 2 cents.
Blue
EOD Mechancail Systems Page Real Time
Posted by rgoodwin on 20th of Apr 2009 at 01:02 pm
You should do some reading on this subject. One book I am getting some good insight from is Van Tharp - Trade Your Way to Financial Freedom. It focuses on just this very subject. Large book to read - but pretty decent. It's very difficult for anyone to advise how much you should put into any one trade. Not only that - you need to know your risk tolerance. If you make your trades based on an expected GAIN, that is just not the right mental mind set. You need to make trades knowing a loss CAN happen - and know your tolerance for such a loss such that it will not create an emotional reaction if it should go that way. A positive close also should not generate a euphoric reaction either. Although the mechanicals are all up nicely at the moment, they can, and have been known to totally reverse and close at a loss. Others here may have some different insight - this is just my personal 2 cents.
Thnks - nice touch - and CWA- also thanks - nice link!!
Posted by pki on 20th of Apr 2009 at 01:16 pm
EOM pki
A google search brought me
Posted by cwa82675 on 20th of Apr 2009 at 01:14 pm
A google search brought me to a pdf link of the entire book robin is referring to.
LINK
CWA
Posted by rgoodwin on 20th of Apr 2009 at 01:43 pm
Where were you before I spent money to buy it on Amazon!? LOL! nice Post - Thanks for that.
Nice summary robin
Posted by matt on 20th of Apr 2009 at 01:07 pm
Nice summary robin