Quote from TheSorcerer:
who the hell is T.S. ?? please use terminology that newbie traders can understand since most us here are new.
...you know( and I know)........
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
I blew up this morning. But I feel fine.
- Thread starter sunggong
- Start date
...you know( and I know)........
Quote from sunggong:
I've been on a hot streak and my earnings have been well above my expectations.
So took a gamble and went for a big one, which I don't normally do.
I failed.
What is to say that next time the gamble gets to -25%, and you are feeling lucky and you let it ride.
Man, i don't know... RISK must be controlled, kept in check and must never let it creep through it in anyway, shape or form. That's all I know.
Quote from sunggong:
It is a major loss in my book, considering my gain day on average is about 3% and loss day is around 1%.
Oh well....
Alright, I'm done with my breakfast. Time to go back to the action and make a little more!
You arent ready to make money
stick to much more conservative investments
Quote from telozo:
That is rather impressive. Care to share more about the method you are using?
All I can tell you is that there are a lot of common inefficiencies in the price action of many stocks.
Same tricks being played over and over.
I just take advantage of these tricks and piggyback my money on top of big boys/crooks in the Wall Street for a short ride.
Quote from TheSorcerer:
What is to say that next time the gamble gets to -25%, and you are feeling lucky and you let it ride.
Man, i don't know... RISK must be controlled, kept in check and must never let it creep through it in anyway, shape or form. That's all I know.
My primary risk control is that I WITHDRAW my earnings EVERY SINGLE WEEK.
I keep my account size small. I don't play with several hundred thousand dollars in my account.
I am well over 600% up for the year based on my original 25k that I started out with.
10% is not too bad when I make 10% of my account every week and withdraw that money every week.
Also, this morning's blowup was limited. What I mean is that I was willing to tolerate losing up to that amount (6k) in order to go for the big one, and I knew how risky the trade will be.
When the loss hit 6k based on my signals, I took the loss with no second thoughts. It sucked. It wasn't what I normally do. But I was willing to take a shot this time.
I'm no longer very emotional and keep averaging down or do stupid crap like that to turn 6k loss into 20k loss.
Hope this helps.