Let's Trade III, by Sicktrader
- Thread starter sicktraderII
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Sick, question about your gambling money management:
If you have close to 50/50 W/L, you are bound to get a losing streak of 6 or even 8 Losers in a row sooner or later... (I know you said it is rare to get three, but that is basic Monte Carlo) how do you deal with that in gambling?
Let's say you are up to $15,000 and you are trading 20 lots. At that point, you get 6 losers- you are back to $6400.
I know your initial stake was only $750. But do you actually gamble like that with real money?
If you have close to 50/50 W/L, you are bound to get a losing streak of 6 or even 8 Losers in a row sooner or later... (I know you said it is rare to get three, but that is basic Monte Carlo) how do you deal with that in gambling?
Let's say you are up to $15,000 and you are trading 20 lots. At that point, you get 6 losers- you are back to $6400.
I know your initial stake was only $750. But do you actually gamble like that with real money?
I'm loving this classic ET 
There's not a trader on the planet who can consistently increase their account 20X in 65 trading days. But let's assume there is such a trader... they certainly wouldn't be here, doing it starting with $700 and posting "winner, winner, chicken dinner" after each alleged trade... which I say because sicktraderII still can't seem to post simple screenshots of his account despite his amazing trading powers.
What's even funnier are the wide-eyed believers... especially those who think the "secret sauce" is the MM!
There's not a trader on the planet who can consistently increase their account 20X in 65 trading days. But let's assume there is such a trader... they certainly wouldn't be here, doing it starting with $700 and posting "winner, winner, chicken dinner" after each alleged trade... which I say because sicktraderII still can't seem to post simple screenshots of his account despite his amazing trading powers.
What's even funnier are the wide-eyed believers... especially those who think the "secret sauce" is the MM!
First I do have losing streaks. If I said losing three in a row is rare, perhaps that was the wrong choice of words. Losing say 6 in row is rare, but it will happen.
To answer you question though, I lower the number of contracts as I fall. If I had 15K, then 6 losers would put me in the neighborhood of 9K-10k
Quote from Trader666:
I'm loving this classic ET
There's not a trader on the planet who can consistently increase their account 20X in 65 trading days. But let's assume there is such a trader... they certainly wouldn't be here, doing it starting with $700 and posting "winner, winner, chicken dinner" after each alleged trade... which I say because sicktraderII still can't seem to post simple screenshots of his account despite his amazing trading powers.
What's even funnier are the wide-eyed believers... especially those who think the "secret sauce" is the MM!
LOL. I started this thread because I was bored, and I have helped people out before on other sites.
For what it's worth, I consider myself a gambler and not a trader. Perhaps us gambers have a different outook on things.
Stay tuned. I'll be showing more than statements.
Quote from Trader666:
I'm loving this classic ET
There's not a trader on the planet who can consistently increase their account 20X in 65 trading days. But let's assume there is such a trader... they certainly wouldn't be here, doing it starting with $700 and posting "winner, winner, chicken dinner" after each alleged trade... which I say because sicktraderII still can't seem to post simple screenshots of his account despite his amazing trading powers.
What's even funnier are the wide-eyed believers... especially those who think the "secret sauce" is the MM!
agreed. im trying to figure out who's more pathetic. the people that are infactuated with this self promoting loser cause theyre looking for a cheap lazy buck or sucktrader who cant stay off the site for more then 10 minutes without talking about himself. believers, its your cue to defend this thread!
What has happened in past instances is that I wind up leaving or get banned from these places and keep teaching the interested in private. Oh, and for free.
Never done this on a trading site, just gambling forums. Much more strict here I noticed, and more boring.
Never done this on a trading site, just gambling forums. Much more strict here I noticed, and more boring.
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