All I Do is Lose Money

[oldtime]

Quote from SimpleTrades:

Moral of the story:

"95 of traders, lose. They just lose". Why? Because we are playing with a limited amount of money against a market containing effectively an unlimited amount of money.

This is actually an argument in favor of gambling. You may be better off designing a strategy that exploits that random chance of great riches. Having achieved those riches, walk away, or you'll just give it all back again.

"All I Do is Lose Money"

Are you giving it all back?


Oh my God! I'm starting to sound like EMG!!

I was just talking about this with another trader. Whenever success requires quitting while you are ahead, you know you are gambling and don't have a solid business plan.

Where would Exxon have quit? Weren't they quite ahead at some point?

I'm all for taking a profit when it becomes unreasonably large. As a matter of fact, that's all I do.

But I get right back in there. It can be a good businesss, if you have realistic expectations, and never allow yourself to become undercapitalized, until it really counts. And are not afraid to borrow money.

 

[ammo]

Quote from oldtime:

That's all I do. Just lose money. If they paid somebody to fade me he'd be doing quite well.

I."

overtrading, wait for better setups,they are few compared to iffy,maybe, poor setups

 

[oldtime]

Quote from ammo:

overtrading, wait for better setups,they are few compared to iffy,maybe, poor setups

ah, I'm always in, almost never flat. When I was young I probably lost a month off my life expectency for every $1000 I made. Now I am old and really celebrate when I get flat, and that probably costs me a year off my life expectency for everday I am flat.

 

[Lucrum]

Quote from oldtime:

That's all I do. Just lose money. If they paid somebody to fade me he'd be doing quite well.

If I buy it goes down

If I sell it goes up

I've become like the perfect contrarian indicator

I'm not surprised.

 

[trickshot]

Quote from oldtime:

ah, I'm always in, almost never flat. When I was young I probably lost a month off my life expectency for every $1000 I made. Now I am old and really celebrate when I get flat, and that probably costs me a year off my life expectency for everday I am flat.

Always in = overtrading. How much do you pay in commissions a year? Wouldnt be surprised if all your losses are attributed to comms...

 

[oldtime]

Quote from Lucrum:

I'm not surprised.

It's amazing what doesn't surprise you. I have pumkin sitting on my porch, and it seems no matter what I do, I can never get it to be surprised.

 

[oldtime]

Quote from trickshot:

Always in = overtrading. How much do you pay in commissions a year? Wouldnt be surprised if all your losses are attributed to comms...

hey man I trade forex, Commissions are one thing, but accrued interest is another. You'd be shocked how much it costs to hold some short AUD/USD over night.

It's crazy out there I tell ya

And they are all out to get you

The good thing is, when you go out to bet on the Superbowl, just tell them you trade with Peterfly, they don't actually comp me a room, but they give me a free beer.

 

[brokerboy]

that's my point crackerjack you stated before you don't need to trade so why punish yourself. this is not a traders market. when the market turns bear it crushes longs and you seem like a long. i am not saying the market can't go up i am just saying i don't see the good future news.

Quote from oldtime:

I don't really need to trade for a living anymore. But I enjoy it, and for the last few months have been living off of it. It's really quite satisyfying when all the money deposited into your checking account to pay the monthly bills (plus taxes) comes from trading.

It was a bitch when I had to do it, then the money got deposited whether it was a profit or some of your trading account.

 

[Lucrum]

Quote from oldtime:

It's amazing what doesn't surprise you. I have pumkin sitting on my porch, and it seems no matter what I do, I can never get it to be surprised.

I meant, judging by your post content I'm not surprised you're a losing trader.
More of an observation really than an insult.

 

[oldtime]

Quote from Lucrum:

I meant, judging by your post content I'm not surprised you're a losing trader.
More of an observation really than an insult.

yeah, you should have it so bad