I blew up this morning. But I feel fine.
- Thread starter sunggong
- Start date
I think you are confusing me with Timothy Sykes ???? TS = TS ??? the super star hedge fund manager, author, advisor, chick magnet etc with me??
...or maybe I am wrong?? maybe I too deserve to be famous.
It sounds like you have a healthy attitude for loss and that's good. You realized your mistake quickly and took corrective action. You should feel proud. Maybe consider scaling up on your conservative plan that work well and just try you risky plan on a sim for awhile. Small changes make big differences, especially in trading. 
I don't get it, why would you rob yourself of hundreds of thousands by not compounding? You've multiplied your 25k account by 7 times according to you without compounding.
If you do the math you'll see 600% on 25k is 150k in profits.
If you were to double your trading size every time your account doubled you would be looking at just under 1.6m in profits.
Quote from TheSorcerer:
I think you are confusing me with Timothy Sykes ???? TS = TS ??? the super star hedge fund manager, author, advisor, chick magnet etc with me??
...or maybe I am wrong?? maybe I too deserve to be famous.
T.S. likes "risk management"....NOT.... ...hehehe....
(Also, big leprechaun magnet...)
Quote from dandxg:
It sounds like you have a healthy attitude for loss and that's good. You realized your mistake quickly and took corrective action. You should feel proud. Maybe consider scaling up on your conservative plan that work well and just try you risky plan on a sim for awhile. Small changes make big differences, especially in trading.
Thanks. I definitely need to take your advice about using sim to test out new, more risky/daring trades.
When I began trading, I just jumped in with real money. Looking back though, I probably should've used sim for at least a month to avoid losing $$$ on my first two months.
To make money you got to be able to lose money as well
10% isnt a big deal
10% isnt a big deal
Why?
Because I'm still a noob. I have a little over 1 year experience trading.
I treat this as WORK. I am not trying to become rich overnight.
I need to test my system through thick and thin in all types of market conditions.
Yes, I'm doing very well, but there is no guarantee that my success will continue.
If I REALLY blow up in the future, I can always start again with my system because my account size is small.
Although the idea of compounding is attractive, it's not really the best idea for a noob like me. Why? Because all it takes is one bad year to kill the profits from multiple years.
This is WORK, not some get rich quick scheme I'm playing.
I would much rather make money every day and get paid every week.
Also, I think it's foolish to think that what works with 50k account works at 200k, 1000k accounts at a similar fashion. It's just not the case. Profit % go down with larger account size if you want to maintain consistency.
There is so much BS here this thread is starting to sound like a sales pitch.
I woudn't be surprised if sunggong got an ET sponsorship account to promote some website, book, or videos.
I woudn't be surprised if sunggong got an ET sponsorship account to promote some website, book, or videos.
Haha, only an idiot will buy anything from me.
I did try to explain my system to a close friend of mine. She lost money trading my system on her day off, and blamed it on me.
I don't share my system with ANYONE anymore. It's better that way. I can make more money just trading than trying to sell anything to people.
Thanks for the entertainment, stock_trad3r. You are truly a character here on ET.