Losing money consistently

[Handle123]

Why is it so hard to trade when the markets dead?

Comes down to experience plain and simple, what you view as dead, I could view as opportunity cause I know how to trade chop. Usually many trades mean same thing, you trading chop. Trend traders often have too few of bars on their charts, tighten them up, get up and go to other side of the room, does the right side of the chart going up/down? If you can't tell, you are in chop. Use a moving average, if it is cutting through bars, price is in chop. When market is trending hard, moving average is either above or below extremes of the bars.

Yeah, I remember when first day trading, actually had 23 losing trades in a row, friend was watching me and he was laughing his head off each trade I put on, never allowed him to come watch me again, and never lost that many since then, of course I ruined my life and worked hard at this, and now just a monket pushing buttons.

I had to increase timeframe on currencies to fifteen minutes to make them viable, crude oil, gold or silver has some movement.

 

[dbphoenix]

I'm losing money consistently. 11 losing trades in a row. Why is it so easy to lose money consistently but not make it?

Because you don't have a thoroughly-tested, consistently-profitable trading plan. If you did, you would not have had more than three losing trades in a row. More than that and you know that you're not in synch with the market. If you're not in synch with the market, then you're just guessing and hoping.

 

[Visaria]

Because you don't have a thoroughly-tested, consistently-profitable trading plan. If you did, you would not have had more than three losing trades in a row. More than that and you know that you're not in synch with the market. If you're not in synch with the market, then you're just guessing and hoping.

not true

 

[Wide Tailz]

I do not have profit targets. I don't want to limit profits.

And another trend follower gives his capital to market makers...... who could have guessed? :eek:

 

[Visaria]

I'm losing money consistently. 11 losing trades in a row. Why is it so easy to lose money consistently but not make it?

If your approach historically has a high win rate then 11 losing trades means something. If not, then it doesn't mean anything.

I'm lucky to be right 30% of the time and have had plenty of 11+ losing streaks.

 

[Zr1Trader]

If your approach historically has a high win rate then 11 losing trades means something. If not, then it doesn't mean anything.

I'm lucky to be right 30% of the time and have had plenty of 11+ losing streaks.

Agree,

I'm right around 30-35 % of the time on my longer term trading with the way my Risk/Reward is set up, I've had 22 losers in a row before.

I usually risk .5% per trade ,1% for really high conviction, So I can withstand the losers and be able to pull the trigger on the next trade without fail.

Anyone can trade, few can withstand drawdown because they don't consider the math of their method.


the worst streak I've ever heard of is a blackjack player (a near 50% game) lost 36 hands in a row.


On small timeframes you may say, well gee , I should just do the opposite and I'll win.
It doesn't work that way because the odds are already stacked against you with comish and spread, Your broker is likely the winner when you are tick fucking and churning with market orders the majority of the time.

In my experience for small timeframes, using limit orders the majority of the time is the way to go so essentially you are making a market for other churners using market orders.

 

[dbphoenix]

If your approach historically has a high win rate then 11 losing trades means something. If not, then it doesn't mean anything.

I'm lucky to be right 30% of the time and have had plenty of 11+ losing streaks.

If the OP is successful with 30% and can tolerate deep and long losing streaks trading real money in real time, then, yes. Maybe. Otherwise, success with 30% is only theoretical and will not provide him with what he seeks.

 

[zbojnik]

Its easy to lose money because you have fear.

Fear is eating away your account.

To dispel fear, you have to understand probability and accept uncertainty.

Do you have an edge? I certainly hope you do. When you see your edge appear on your chart, hit the button, don't think just hit it, if it goes your way stay with it, if it goes against you cut it at some predefined loss limit you've set, usually when the trade fails technically.

When you are in a trade are you excited when the trade goes in your favor or fearful when it goes against you? If the answer is Yes! Then THIS IS THE PROBLEM.

Its only one itty-bitty trade. Don't sweat it, its a random event. Only when you reach the point of having little or no emotion during trading that is when you will consistently make money. Can't get there in weeks or months. Trade small, learn this!

I will try doing the opposite of what I am doing. I will see what happens. I try to read price action on the DOM ladder. I have to be seeing something real since I am losing like 90% of time.

 

[xelite777]

Because you don't have a thoroughly-tested, consistently-profitable trading plan

On this part I couldn't agree more, without a tested system the trader is just gambling.

If you did, you would not have had more than three losing trades in a row.

I have no idea where you pulled those statistics from, Dbphoenix??

Besides, if this statement was true, then systematically trading after 3 losing trades in a row (on paper) will guarantee you a winning trade all the time. You would then make a killing in the long run, and double your money on each trade!

Think about it for a second...

 

[dbphoenix]

I have no idea where you pulled those statistics from, Dbphoenix??

Robust trading plans.

Besides, if this statement was true, then systematically trading after 3 losing trades in a row (on paper) will guarantee you a winning trade all the time!

Actually one should stop after two, but, otherwise, pretty much. If one is not in synch with the market, he's going to lose. For a hobbyist, particularly one who is simtrading, this may not matter. For one who is trying to make a living at it, being in synch with the market is critical.