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Yes and it happens to everyone... you can control it though via this method of loss from top until you teach yourself to hold on to profits. Look, no traders really trade during 11:30-2pm BUT I find this can be my most profitable time as I spot all the setups I want when the afternoon trade...

Yeah but what good profession doesn't have a training period. This is his training period. I also guarantee that more optimistic people make it then pessimistic... So OP understand that this poster is probably correct but it does you no good to have these things in you thinking... Prove 'em...

This how I did it... On your up days what is your average positive p&l?... Say it's $100 then when you reach that level put your loss from top in place. I would normally wait till I closed out the current trade and put the loss from top on. Then once it's on and if you reach your loss from top...

wow, you guys have it tough south of the border

I took yesterday off due to how I felt about Monday... I had no reason to trade yesterday as I didn't see any opportunities in the pre-market. I also was not in the right frame of mind and felt I could chop more money away... history has shown this is what normally happens. Woke up this...

Yeah still $$ to be made but on stock specific plays ie XING, IRE. market type stocks ie ones that move when the market moves were deader then dead!! No $$ trading them at the moment

Yes I'm advocating this 100%. The thing is you can go even one step better and not even have to put your 10k up as "deposit". You can learn with their $$. This is exactly what I did when I started... make all your mistakes with their $$. The only sacrifice is that you probably won't make any...

Exactly! You have restored my confidence in you hahahah Experiment with the % as you will find a level that works well for you. I don't use it any more because I feel I have built up the discipline to manage it now. But yeah I think you understand what I mean and the Livermoore quote is...

I think you kinda missed my point but don't worry.... carry on

Completely agree with you... however he doesn't have the capital to trade successfully yet. Until he is ready to move and trade for a prop firm using their capital he should sit on his hands and do nothing other then read books, forums and generally study everything about trading. But as...

Hey, Most people are pointing you in the right direction... Study is really important especially at this stage in life... I'm a couple years ahead and I'm really happy I went to University. But you should follow your dreams and if you want to be a trader then study trading... There...

I have never used any trading school or the like. What is probably a better idea is to buy a couple of the good trading books (PM me or ask around if you can't find which ones) and read them for a start. These are available electronically via Kindle etc If you really want to look at someone...

Hi Robert, I have always lurked (for want of a better word) around here reading your journal but never posted here on ET. I understand you went through a tough time earlier in the year and I remember you writing about how you were going to study full-time or were not going to trade as much...

Just thought the following quote / idea from Jesse Livermoore helps explain what I mean... He states that "we should have hope in a winning trade and fear in a losing trade. That way you are able to let winners run and cut your losses short. The obstacle is the the human mind... which...

Sorry, no offence, but this is really not a good idea and I will try to explain why... First of all you should incorporate a Daily Max Loss (if you haven't already)... I can't stress how important this is. Everyone has a bad day and markets can be very difficult at times. Sometimes you really...

Look my advice is this (do with it what you want)... No one can really teach you to become a profitable trader. They can point you in the right direction but in the end it is down to you... there is no holy grail or secrets etc. The basic important lessons can be learned from a few decent...

I think your spot on... Good pick up! You will be buried in losses after commissions and trading losses... The firm won't have lost a dime and if you become profitable then they get 100% of the profits till you pay back your "fake loss". If this is what's going on and they are not being...

Hope is a bad word for a trader... yesterday hurt and I don't need to learn my lesson again hahaha

OK fellow traders. When I started I told myself that I would post the good with along with the ugly. As much as it feels cr@p to re-live yesterday I promised that I would do it when I started this journal... so here goes... It is really quite simple, I picked a bad day to trade. I kinda knew...

Never seen this thread before... Entertaining read. Lots of BS but this is of the best qoutes on there... Sums it all up perfectly! The 10% of winners make their $$$ from the 90% of those who lose. In reality it's probably more like 5% make a lot... 20% break even or make a little bit... The...