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OmniTrader Professional Forum
Trade Plans In Strategies
When do you pull the trigger?
Last Activity 1/17/2022 3:59 AM
3 replies, 791 viewings

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gnorthern

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Joined: 8/28/2021
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Subject : When do you pull the trigger?
Posted : 8/28/2021 12:04 AM
Post #31584

You feel 100% comfortable with the software, you have a system (both software and intuition) that seems to work.

When do you decide to use your system in real life?

[Edited by gnorthern on 8/28/2021 12:05 AM]

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Perry

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Subject : RE: When do you pull the trigger?
Posted : 8/28/2021 8:39 AM
Post #31585 - In reply to #31584

You are asking "When do you decide to use your system in real life?" You are NOT comfortable with something! I would suggest you paper trade and verify it makes a profit. When you ARE comfortable that your system makes a profit, you will then be comfortable trading your system.

It's very simple, if you are not comfortable, you do not have confidence in what you are doing. Since that appears to be the case, do NOT trade until you are comfortable. If you Never get comfortable you should not trade.
Hope that helps,
Perry
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Jim Dean

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Subject : RE: When do you pull the trigger?
Posted : 8/28/2021 8:53 AM
Post #31586 - In reply to #31585

Perry's advice is both excellent and practical.

I'd add that you should NEVER trade with money that you can't afford to "throw away". Nervousness about permanent loss of capital and its impact on your present or future lifestyle/needs will cripple your trading decisions.
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Diamondjag

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Subject : RE: When do you pull the trigger?
Posted : 8/29/2021 10:59 AM
Post #31587 - In reply to #31586

This thread made me think of one of my favorite trading quotes. It comes from option legend (Think or Swim / Tasty Trade) - Tom Sosnoff:

"The single biggest threat to anyone financially is simple - it's a lack of understanding and know-how, it's an aversion to risk, and it's a lack of decision making confidence."

If anyone examines their problems with trading, it will fall under one of these items.
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