As a beginner consistent trader...

robindude said:
To some extent it’s okay if you are afraid of losing money, it shifts your focus to money management but the problem arises when you can’t take any action because of your fear. Whenever it comes to psychology I think following your trading plan is the best you can do. If, according to your trading plan, you’ve made enough profit or more you can stop trading for that day, and then take another day as a new day. Accept that you’ll lose money. Not all days will be good but only focus on minimising the losses.
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The reality is you can only control your losses. So, why not focus on it? When you enter a trade, you do not know assuming your trade works as expected, how far your stock will run up? Will it stall and reverse? That is why you need risk management to keep those losses small. Small losses can be easily overcome by large gains. That is why position sizing and stop losses should be part of your risk management portion of your trading.
 
Walk away for now. Perhaps drop your capital down as the numbers are scaring you. You need to acclimatise to the numbers as they grow. If you went in with a larger capital and have this fear, it's too much.
 
Leob said:
I'm in a worst mental confidence state of mind after I'm up 1200$ after 10 minute..
I can't trade. Im afraid to fail. I'm very attached to my profits after realizing. No issue with keep with the move. Why? Can this limitation can be improved.
In a way I understand where it came from..
30 years 9-5 job and after 5 years.. I have my move in intrady day scalping, it's a issue to me I guess.. kind of hard to accept, that I'm fucking ,just do it.
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Suggestion for Cure of Loss: Trade Micro Futures LIVE and you will only be risking $50 a day with potential to making $200 a day. If you Can't do that -- perhaps you need to find a plan?
 
I'm read about boxing fight take place yesterday..
"lopez vs kambosos" world championship for -120 pounds.
And the writer say something like this...
Every boxer now that if you just run 400 meters, you will not able to start and finish a marathon.
If you start fast you better finish the job quick!
Interesting..
 
smallfil said:
The key to your success and every retail trader out there is there before your eyes. And yes, it is simple. Just follow the trend. Whatever you trade, there is a trend somewhere. The turtles who were taught by Dennis Eckardt and during that time, they earned hundreds of millions of dollars. What did they do? Follow the trend. Successful hedge fund managers follow the trend and make monies most years. They do not try to reinvent the wheel. Good trading is boring.
No, you do not need to backtest anything because these hedge funds by their records already prove that is a profitable trading strategy. Now, a warning, win rate could be 40-50% most times and drawdowns could be deep as you ride trends up or down. In the longterm, trading by following trends is the easiest way to trade and make monies out of the stockmarket. The added bonus is those big hedge funds will be at your back, supporting that trend.
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Good points/\ but good trading does not have be boring.
Seldom see old timer$ scalping, partly its small profits, in some cases super profits, but few men want to type fast for living @ maturity/LOL.........................................................
I do think rich Dennis did take some small profit taking when young but seldom made much with countertrends which may or may not involve short trends trading............................................................................
 
murray t turtle said:
%%
Good points/\ but good trading does not have be boring.
Seldom see old timer$ scalping, partly its small profits, in some cases super profits, but few men want to type fast for living @ maturity/LOL.........................................................
I do think rich Dennis did take some small profit taking when young but seldom made much with countertrends which may or may not involve short trends trading............................................................................
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One drawback of trend following is you have to sit on your positions and allow the trend to dictate how much you will earn. In that sense, it is boring because you are not doing much except, monitor your positions. You could also, lose part or all your profits in the near term. The flipside is strong trends will likely, persist and give you the huge returns that you seek.
 
smallfil said:
One drawback of trend following is you have to sit on your positions and allow the trend to dictate how much you will earn. In that sense, it is boring because you are not doing much except, monitor your positions. You could also, lose part or all your profits in the near term. The flipside is strong trends will likely, persist and give you the huge returns that you seek.
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Exactly;
i do some research so a boring trade/inVestment doe not put me to sleep\not that i blame trends for that/LOL:D:D Certain exceptions apply, i hated a JUNE ETF\stock sell off once\ looked like SEPT sells................................................................................. TURNed out fine, but seldom happens that way + i dont like all my investmenst/trades dawning doWn like that XLK that JUNE......
 
easymon1 said:
Are they concrete -Go/NoGo- criteria that can be written down and executed from those written instructions?
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Must take time into consideration also.. it can bounce or can just slowdown and choppy.
But if we not about automatit, is pretty go no go
 
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