Am I doing something wrong? Making money can't be this easy...
- Thread starter tycoonman
- Start date
dude htis guy is a hater!!!
listen man, i don't really care to make people jelouse, and im definitely not trying to troll anyone into subscribing to something. im a novice trader, and I use the word trader loosely as i cringe. But for you to keep coming here and not add anything to the convo, it really shows your lack of maturity, and clear failure in finance in general. I mean, you've been here since 2001 and have over 12,000 posts. Aren't you embarrassed?
Nice counter-trend entry off the failed breakout. Where was your stop? You didn't post where you'd exit if it ran against you. Do you use hard stops or mental stops? If you shorted 1333.00 and it bounced off support and ran 5 points on surprise news, what would the damage have been?
That's the "not cheating" part. In a sim account you can hold without a stop, average down, whatever. Do you have fixed risk management rules?
who gives a shit. what am i writing a dissertation?
look, ill be gone from here after a day or two, but you, you will still be here -- bitter, accumulating pointless posts, and having not real function/output in society. Then you'll reach a point in life where you'll realize how shitty of an existence you've had, and try to do something about it. Hopefully it won't be too late for you by then.
I made only one perdictioin, it came true to the minutes, and you shit on it.
Im not a clearvoyance, nor do I pretend to be, and im fully aware that the market is capable of catching anyone at any time, but this thread was about understanding the difference between real and demo trading; not about why you suck at life.
Nice pwnage right there
The next step for you to do is to write down a trading plan. Set your risk parameters, indentify what types of setups you'll be looking for ect. ect.
The reason this is extrememly important is because when you trade live money, you will need to have some STRUCTURE to your trades, as the emotions can very easily get in the way of your normal thought process.
Basically, that's the main difference between DEMO and LIVE trading. When live trading, your emotions WILL cloud up your judgement decisions, unlike paper money. No matter what, this will occur, as it is your brains way of trying to limit your pain (which is what its built to do). To help prevent this, you must have strict rules, i.e. a trading plan!
Hope that helps!
Julian
I have mental stops because im still learning to feel the trends and setting up confidence levels within turns and trends. I really don't know what the rest of your terminoligy means re "failed breakout" etc.
as for surprise news taking the trend the other way etc., i generally have a mental stop loss at about 5% of my account size. So if i get close to around the red 250-300$ then i exit. I will set up similar stops when i go live.