Reduce number of trades. Let's say normally in good times, you trade once per day, and it's a winning trade. In bad times, you trade once, it's either a win or a loss, and you keep trading and end up with multiple losses that are hard to over come. If you just traded once that day, the following day you could make up your loss.
All I Do is Lose Money
- Thread starter oldtime
- Start date
If you are not doing well and losing money, it is wise to stop trading for a while.
You need 3 things to have a chance: A proven good system, the ability to follow rules, and the ability to manage your emotions.
Back test on demo or with small account size. This will take at least months.
Remind me never ever, ever again, to leave myself in a large EURUSD position overnight. I am getting killed as I sleep! No buys and holds on this ever again. Something wonky happens to the EUR when the americas aren't awake to stabalize everything.
Oldtimer;
You are not a trader just a gambler and its time for you to face up and even stop posting that you know what trading really is. You are defying everything the TOP traders in the world do as though you are somehow smarter than them and as though you have discovered a better system when in reality you have no system are simply doing what the 95% group does so well.
- you average down because you have not learned how to take small losses.
- you are ALWAYS in to get your fix.
- you do not use predetermined stops as a percentage of equity and you think you are using superior money management.
- you have an enormous post count in short order when you should be silent and studying. Read study listen observe rather than tell, tell, tell.
You really need to study what trading is and don't tell us you already have. A clue is in the word itself...."trading."
You are not a trader just a gambler and its time for you to face up and even stop posting that you know what trading really is. You are defying everything the TOP traders in the world do as though you are somehow smarter than them and as though you have discovered a better system when in reality you have no system are simply doing what the 95% group does so well.
- you average down because you have not learned how to take small losses.
- you are ALWAYS in to get your fix.
- you do not use predetermined stops as a percentage of equity and you think you are using superior money management.
- you have an enormous post count in short order when you should be silent and studying. Read study listen observe rather than tell, tell, tell.
You really need to study what trading is and don't tell us you already have. A clue is in the word itself...."trading."
yeah, the problem is, when it's going the other way it is so easy to become complacent, and that means taking profits early.
When it's going bad, you hang on to the last possible moment.
When it's going good you just take them because it's a Friday.
So in the end, losing becomes much more efficient than winning.