Originally Posted by oldnewbie

Something that is propogated by POP... read it a long time back.

Yes. Nassim Nicholas Taleb has some great discussions on this topic in his books.

My Instincts have always proved right, when i stick to rules and don't implement those instincts.

But they have always failed whenever I have implemented them against the rules.

Struggling to find the right balance.

Cheers

i day trade with rules as i am noob to day trade, where as my positional trades r discretionary, for positional trades there is only one rule- trade options and try most to have credit spreads.
for day trading there r 2 page rules, those mixed with option figures, market profile, and price congestion zone, and tried my best they should compliment each other than hiding my view in cloud of information.
Also i dnt trade aggressive at friday and now trying to fix my monday blues as no more late night parties

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You want to be yourself, idiosyncratic; the collective (school, rules, jobs) wants you generic to the point of castration - Nassim Nicholas Taleb

Originally Posted by AeoCast

I am still learning/adding in list. As of now trying to follow these ... 1. Don’t enter in trade just because you feel so, Need to have case for trade with clear risk and Reward. In case of just a gut feel tight SL is a must. 2.Take it easy, don’t put all money in trade, not more than 10% of margin. Always keep enough of margin so that squaring is not required to get on other position. 3.Stop loss is a must (max 7%), don’t shy to lose in anticipation of gain. If not hedge it with next month position. 4. Don’t enter in another position while there is loss in one 5. Don’t enter in another position thinking I made a profit in one so no problem in loosing the profit. 6. Listen to your inner voice rather than outsiders views 7. Write down every trade … profit/loss case & learning. 8. Don’t carry over positions against the trend.

one of the best one liner i ever read, by the master 'saint sir'
"dont involve 'I' in trade"
once this done then then rest is easy, have a proper money management as per ur account size
make a trading plan and stick to it
next u making money
sound simple but details of each point is very daunting, extra efort should take care of it

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You want to be yourself, idiosyncratic; the collective (school, rules, jobs) wants you generic to the point of castration - Nassim Nicholas Taleb

Anyone here read POP? other than Adheer?

Am trying to attach POP, but file size exceeded

Yes, you can use Rule 1 correctly, as it is saying that you assume your position is wrong until proven correct and, by taking a
position after a series of losses, you are certainly aware that you are going for probabilities of a turnaround. If there is no
turnaround, you certainly were expecting to get out. Naturally, the market will have to prove you correct after your entry within your
established criteria.

No Rules if they supposed to be mechanical.

Only "DAGGA-MAR" trading....

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Harvest The Moon !!

I do have trading rules, but do I follow them

To be honest, sometimes NO

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THINK DIFFERENT TO BE DIFFERENT

I update my rules as per my new experiences and follow them strictly. explaining the rules won't make sense since they are system and stock specific.

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Every loss teaches you a lesson.