Hi Cubt,
Converting the ideal trades into real trades is the challenge. In fact, I'd go ahead and say that it is near impossible to earn from an AFL and there is a reason behind it.
Allow me to expound. It is a tough task to correctly take a large number of trades, say 500 of them. Yet, some are able to do it. Why? Because, I think, that they have only one perspective/focus. There is no distraction.
From their years of experience they are able to shut out all other conversations and know exactly what to focus on. They have learned through first hand experience of what is important and really matters.
On the other hand, one who takes a quicker route still has not developed this ability to shut out distractions, hence will surely be distracted. As a result he would do one or more of the following to render the AFL ineffective:
1. Not take a few trades after some losses. As a result he would miss the big move.
2. Anticipate an entry, and hence build up loss and add to frustration and also making it difficult to take future trades.
3. Doing ones own TA. And trying to further "optimize" the system.
4. Using real time news to do .3.
5. Being lenient on stop loss, as a result converting a small loss into a disaster.
I have experienced all of the 5, several times over (except for #5). And honestly speaking I am not sure if I'd want to go any other way.
Rgds.
Converting the ideal trades into real trades is the challenge. In fact, I'd go ahead and say that it is near impossible to earn from an AFL and there is a reason behind it.
Allow me to expound. It is a tough task to correctly take a large number of trades, say 500 of them. Yet, some are able to do it. Why? Because, I think, that they have only one perspective/focus. There is no distraction.
From their years of experience they are able to shut out all other conversations and know exactly what to focus on. They have learned through first hand experience of what is important and really matters.
On the other hand, one who takes a quicker route still has not developed this ability to shut out distractions, hence will surely be distracted. As a result he would do one or more of the following to render the AFL ineffective:
1. Not take a few trades after some losses. As a result he would miss the big move.
2. Anticipate an entry, and hence build up loss and add to frustration and also making it difficult to take future trades.
3. Doing ones own TA. And trying to further "optimize" the system.
4. Using real time news to do .3.
5. Being lenient on stop loss, as a result converting a small loss into a disaster.
I have experienced all of the 5, several times over (except for #5). And honestly speaking I am not sure if I'd want to go any other way.
Rgds.