How much do you REALLY LOSE trading?

DT-waw · Mar 27, 2003

Dear Brothers and Sisters,

Please be Honest here. How much do you lose? Consider wasted time which you can use to work somewhere else, consider software & hardware costs, your account balance, poorer eyesight & health etc.

How much time do you waste reading those qdz, harrytrader, fasterpussy, murray turtle, candletrader famous polls, jack hersheys posts?

Peace and profitable trading,
wish ya all da good

indahook · Mar 27, 2003

First shot lost 27k in comm(see worldco poll)..now i`m flat and moving sideways..moving up the curve slowly....even with 60% winning trades I cant seem to get over the hump.HELP ME..I need my own risk managemenet dept.

MondoTrader · Mar 27, 2003

everybody loses on trades, everybody has bad months, etc. If you are losing on an annual basis then you aren't any good and you should try to get somebody to pay you to post on internet web sites.

Homer · Mar 27, 2003

How can you lose money and still be in the game?? I have lost a ton of money in the past, but i have gained it all back plus some, or else I would be in a different profession. I can understand being negative if you do this as a second job, but if trading is your sole income (it is my sole income) then you can't afford to have ANY negative years. Just my two cents
good luck,
Homer

indahook · Mar 27, 2003

To say that you should quit after a short while trading is tantamount to quiting just because things dont go your way instantly! BTW...who will pay me to post on websites? Sounds like a pretty easy gig.

TruthSeeker247 · Mar 27, 2003

Quote from Homer:

How can you lose money and still be in the game?? I have lost a ton of money in the past, but i have gained it all back plus some, or else I would be in a different profession. I can understand being negative if you do this as a second job, but if trading is your sole income (it is my sole income) then you can't afford to have ANY negative years. Just my two cents
good luck,
Homer

unless you are paid a salary while you learn.

I Missed Boat · Mar 27, 2003

Quote from indahook:

To say that you should quit after a short while trading is tantamount to quiting just because things dont go your way instantly! BTW...who will pay me to post on websites? Sounds like a pretty easy gig.

No, he's saying IF you don't have any other income, then you must quit at some point so as to support yourself. That's just reality!

Homer · Mar 28, 2003

Quote from TruthSeeker247:

unless you are paid a salary while you learn.

I don't know ANY firms that will pay you a salary for over a year without any net profits. Doesn't make much sense to pay someone who is consistently losing money. I don't think this thread is talking about new traders

indahook · Mar 28, 2003

Obviously. But I have only been trading for 13 months, and I do get paid a small monthly salary(1500.0)...enough to get me through the tough times....moving up the curve!
good luck all,
C.

limitdown · Mar 28, 2003

Quote from DT-waw:

Dear Brothers and Sisters,

Please be Honest here. How much do you lose? Consider wasted time which you can use to work somewhere else, consider software & hardware costs, your account balance, poorer eyesight & health etc.

How much time do you waste reading those qdz, harrytrader, fasterpussy, murray turtle, candletrader famous polls, jack hersheys posts?

Peace and profitable trading,
wish ya all da good

Add to this:
1) profits from good trades that are whittled away by:
1a) high desk fees
1b) commute costs
1c) lunches from the office, coffee, aspirin, etc.
1d) monthly charges and surcharges
2) flat trades used to boost volume of shares for higher discounts
3) discount fees never rebated
4) "other charges"
5) innaccurate K1 statements or 1099's not reflecting your true costs and expenses

things like this could make an accountant's eyes tear in anticipation of all the billing hours they could charge using this arguement in their behest against you. Mind you, other traders with extremely bad experiences with Green told me that one.

This is an expensive endeavour that needs to have realistic caps put on it, and caps that don't shift based on the so called arguement that "this job is fun".