If you keep losing money, how do you do the opposite?

[TraderZones]

Quote from opposite:

I've been doing a lot of intraday trading over the last several months. My records show that 60% of my trades are losing trades. The average loss per losing trade is also higher than the average loss per winning trade, so I have been losing money.

At this point, I have tried various strategies, none of them working, so I am ready to give up.

But I wonder if I can't somehow turn my consistent losing into consistent winning? It would be one thing if I had done a bunch of trades and ended up breaking even. But I consistently lose, so there must be a way for me to recognize what I previously did in my losing trades, and do the opposite to make them winning trades instead.

I will post more thoughts later.

Just the fact you are considering this says much about your trading ineptitude.

This idea is usually arrived at by most neophyte traders.

 

[mokwit]

Quote from opposite:

A couple people have mentioned how newbies will hold onto losses while refusing to admit that they are wrong, and finally exiting the trade at a huge loss.

I have taken a few big losses, but that really hasn't been my problem. My problem is that I have taken so many small losses, that they have added up and exceeded all of my gains combined.

Taking low probability trades rather than sitting tight for the high probability trades?, too tight stops, stopping yourself out rather than allowing the trade to breathe ie not accepting it is routine for the trade to go negative around the entry?

 

[Trinitytrader]

Quote from opposite:

A couple people have mentioned how newbies will hold onto losses while refusing to admit that they are wrong, and finally exiting the trade at a huge loss.

I have taken a few big losses, but that really hasn't been my problem. My problem is that I have taken so many small losses, that they have added up and exceeded all of my gains combined.

The first thing you have to do is loss those market orders those are just a license to steal, I can't tell you how many brutlly bad fills I got using them in my early days. I mean you're down 5 or 6 cents before you even start your trade, use limit's when ever you can. Next if your trading CROX, AMZN, & WM pay close attention to the bid / ask spreads, if it's more than 2 or 3 cents stay away you'll get wacked. You combine a 5 or 6 cent spread with a market order you better hang onto you're wallet. Just my 2 cents

 

[ammo]

Quote from Calculator7:

mokwit said the "opposite" trading strategy is already being used... the retail FX model ?
What firm or CTA is already using it? I'd be curious to see the performance, or at least a website...

thnx

he's pullin your leg

 

[nokomisjeff]

In the pit, I've always tried to identify a newbie loser, and fade his bids and offers. The real trick is to identify a loser, which takes some talent in itself. One can get a good net return finding the right loser or combinations of losers.
J

 

[IzzyfoShizzy]

Quote from opposite:


At this point, I have tried various strategies, none of them working, so I am ready to give up.

Don't give up so easily. I know how you feel. I have been losing money continuously for the past 1-2 months and I felt the same way you did. But there's always hope. All it takes is one good day. I had a day (this past Tuesday) where I gained back half of all those losses in one day. It got me on a roll and gave me confidence and I had a stellar week even after that. Theres always hope and all it may take to get you back on track is one good trade.

Keep your head up, learn from the mistakes you made thus far, and get your ass back out there.