How can I get over fear of making big profits?

[NoDoji]

J, you have fear of making big profits and fear of taking small losses. This will wipe you out.

 

[Runningbear]

Never confuse a fear or making big profits with actually being a bad trader.

 

[ES.Dreamer]

Without letting winners run you stand very little chance in this business. If that does not scare you, I'm not sure what will.

ESD

 

[schizo]

Quote from jinxu:

In the last few days I managed to bring my account from $700 to $1300 today with no down days. However, I could potentially make a lot more money than that but I'm stuck at making only a few dollars. The biggest one day profit this week was $180. But I want to be able to make a lot more than that. One reason for this is because I'm not trading for the entire day.

What can I do to get over this and get to the point where making $500 or $1000 or even $2000 seems like a normal day? Or should I just be glad I'm not losing?

Note that it ain't how much you can make, but how successfully you can play the game on a consistent basis that will make or break you. More importantly, it's not how you win but how you lose that will ultimately judge your skill.

Sorry to let you down, but you seem to have a long way to go. Learn to be humble. Only then will you make and manage big money.

 

[coolweb]

you skill level would be at the junior high level.
when the requirement is a masters.
that be 6 yrs
ogood luck

warren buffett is at year 60
soros at year 40
einhorn at year 18 or so
goldman traders at year 8


u be at year 1
enjoy the marathon

 

[DrEvil]

Quote from jinxu:

In the last few days I managed to bring my account from $700 to $1300 today with no down days. However, I could potentially make a lot more money than that but I'm stuck at making only a few dollars. The biggest one day profit this week was $180. But I want to be able to make a lot more than that. One reason for this is because I'm not trading for the entire day.

What can I do to get over this and get to the point where making $500 or $1000 or even $2000 seems like a normal day? Or should I just be glad I'm not losing?

You can only make what the market gives. Sometimes it gives more, sometimes less.

 

[MarkRyan]

Quote from jinxu:

In the last few days I managed to bring my account from $700 to $1300 today with no down days. However, I could potentially make a lot more money than that but I'm stuck at making only a few dollars. The biggest one day profit this week was $180. But I want to be able to make a lot more than that. One reason for this is because I'm not trading for the entire day.

What can I do to get over this and get to the point where making $500 or $1000 or even $2000 seems like a normal day? Or should I just be glad I'm not losing?

This is great result to get your account almost doubled in only few days, keep doing that increasing the size according your money management rules. Don’t be greedy

 

[bigb]

Quote from ES.Dreamer:

Without letting winners run you stand very little chance in this business. If that does not scare you, I'm not sure what will.

ESD

i have to respectfully disagree with this statement. I feel you can succeed by taking small winners. However, i believe the key lies more in taking small losses. In this age of chop, in the time it takes to get a runner, not to mention the size of stop, there are multiple setups occuring yet you would be sitting in your position hoping for a homerun. But of course you can make money either way. In fact, as long as winning % lines up with risk/reward you'll be ok.

 

[JoePaterno]

Quote from jinxu:



Besides, why would I want to get a full-time job when I can make the same daily amt in less than 30 mins?

Because with the amount you are trading, you are not making anything and you have perhaps 00.001% chance of succeeding. You are deluded. A job is much better.

 

[neveral0ne]

Seems like the grasshoppers winning streak is over. You got a long way to go Jinxu, not to put you down but we all have been in your boat. Dont think about how much you make, but how much you lose. So what that you got your account from 700 to 2000 in 1 week? How did you perform your last 2 days? Acccount back down below 1000$ you didnt even enjoy the little profits that you made, so you are going a step back. Work a part time job at least, and learn to trade durin the market hours, that way you have spending/savings as you progress learning. It takes a while to develop a read, understanding and an edge for the market. It was a matter of dayys before your account was going to drop - hence beginners luck.

Best of luck to you man, keep on learning, reading and trading and youll get there. But dont be focused about the $$$, they will come alone once you develop an edge and a great understanding of the market.