LOSING traders - How much money and time have you lost?

Quote from Lethn:

I lost $212 in my time with trading so far, however thanks to that I've figured out how to stop losing money and I should be well on my way to making it back and maybe even more if I stick to my system.
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:)
 
lol, Up 200pips now since stopping me!
I find it amazing how this happens. Its one thing getting wiped out on a big move against you, but always at about the exact low tick of the run?? That is some serious bad luck that i have!
 
Quote from Index piker:

Yeah but if you do George constanza could sue you for infringement on intellectual property.:eek:
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Lol. I actually wonder if anyone has tried this strategy in real life with significant $$$. I know one trader who actively looks for "losers" and fades them on moderate size until they puke out their positions, but it's not his main strategy. Seems to work well though.
 
Quote from Ghost of Cutten:

Lol. I actually wonder if anyone has tried this strategy in real life with significant $$$. I know one trader who actively looks for "losers" and fades them on moderate size until they puke out their positions, but it's not his main strategy. Seems to work well though.
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Would have worked nice against me, lol.
Wuold have took about 3 ticks of heat, and been up about 280 ticks this morning.
As I predicted in my initial post, i got stopped at the exact swing low.
 
Quote from Airwaves:

Question is in the title.

Id like to know how long you have been trying to make money though daytrading, and how much money you've spent on coaching/seminars/software/BLOWN ACCOUNTS etc.....

I've been trying to trade for about 4 years.
I lived off savings so that i could dedicate about 14 hours per weekday (and some at teh weekends) to reading / studying / demo trading and live trading.
I've blownup everytime.
Initially the blowups were due to not using stops. Id put about �1000 into an account, turn it into about �5000 and then lose it all when a market moved relentlessly against me.

I then began using stops, although that has been even worse really, because the account never really gets off the ground. Just slowly bleeds money.

I blew a small account yesterday when the GBP/USD just kept crashing.

Its amazing. Everytime I've blown an account, THAT marks the low of that market for a very good run. I got stopped on a long at 1.4800 on GBPUSD. As a result it has moved up 70 pips since and will surely go another 500 or so. It always happens like this.

Its like the market can tell at what point my account will blow and aims for it and then reverses! lol. Am I the unluckiest person in the world or does this happen to all losing traders (particularly your blowout point marking a swing low/high)
Its happened everytime! Lets see if 1.4800 or so marks a decent low.

Obviously I should give up. It just seems such a shame considering the years ive put in.
Im not even entirerly sure that its possible to make money consistently. With such a high failure rate (95%) thoses few winning traders could just be lucky? You might expect similar odds from the roulette wheel?

I do believe that people can make money trading if they either work for a firm and are privvy to certain information, or if you are already absolutely LOADED and can just keep avergaing down in things like index futures that tend to go up over time.

So, other losing traders:
How much money (accounts/seminars etc) spent? Ive probably spent about �8000 all on blown accounts. Never paid for a seminar etc
Time??? About 4 years here
(oh...and watch gbpusd fly up over the coming weeks!!)

thanks
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Been there done that. What time frame are you trading?

Word of advice. Take a good look at your risk because how you manage risk in a trade is very important.
 
Quote from Airwaves:

Question is in the title.

Id like to know how long you have been trying to make money though daytrading, and how much money you've spent on coaching/seminars/software/BLOWN ACCOUNTS etc.....

I've been trying to trade for about 4 years.
I lived off savings so that i could dedicate about 14 hours per weekday (and some at teh weekends) to reading / studying / demo trading and live trading.
I've blownup everytime.
Initially the blowups were due to not using stops. Id put about £1000 into an account, turn it into about £5000 and then lose it all when a market moved relentlessly against me.

I then began using stops, although that has been even worse really, because the account never really gets off the ground. Just slowly bleeds money.

I blew a small account yesterday when the GBP/USD just kept crashing.

Its amazing. Everytime I've blown an account, THAT marks the low of that market for a very good run. I got stopped on a long at 1.4800 on GBPUSD. As a result it has moved up 70 pips since and will surely go another 500 or so. It always happens like this.

Its like the market can tell at what point my account will blow and aims for it and then reverses! lol. Am I the unluckiest person in the world or does this happen to all losing traders (particularly your blowout point marking a swing low/high)
Its happened everytime! Lets see if 1.4800 or so marks a decent low.

Obviously I should give up. It just seems such a shame considering the years ive put in.
Im not even entirerly sure that its possible to make money consistently. With such a high failure rate (95%) thoses few winning traders could just be lucky? You might expect similar odds from the roulette wheel?

I do believe that people can make money trading if they either work for a firm and are privvy to certain information, or if you are already absolutely LOADED and can just keep avergaing down in things like index futures that tend to go up over time.

So, other losing traders:
How much money (accounts/seminars etc) spent? Ive probably spent about £8000 all on blown accounts. Never paid for a seminar etc
Time??? About 4 years here
(oh...and watch gbpusd fly up over the coming weeks!!)

thanks
More...

Your story is the story of most trader wannabes. But your outcome is not what people read in the spam email, postal mail, magazine ad, Trading 101 book, website, Ebay can't miss trading system or other glossy ad telling people how easy it is to trade their way to riches...
 
Quote from TraderZones:

Your story is the story of most trader wannabes. But your outcome is not what people read in the spam email, postal mail, magazine ad, Trading 101 book, website, Ebay can't miss trading system or other glossy ad telling people how easy it is to trade their way to riches...
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I imagine so.
At this point its not even the consistent losing that hurts, its the fact that the point at which i am forced to liquidate my positions ALWAYS marks an important swing high/low! lol


Quote from Airwaves:


Its amazing. Everytime I've blown an account, THAT marks the low of that market for a very good run. I got stopped on a long at 1.4800 on GBPUSD. As a result it has moved up 70 pips since and will surely go another 500 or so. It always happens like this.

Its
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(notice the 350 pip rally in GBPUSD since stopping me at the low a few days ago??)!!

What is YOUR 'story' out of interest?
I take it you dont trade?

Thanks
 
Quote from DrEvil:

Been there done that. What time frame are you trading?

Word of advice. Take a good look at your risk because how you manage risk in a trade is very important.
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I've tried most timeframes over the years, and trading using levels from hourly charts, and signal from 5 and 15min charts gave me the *best* results, although obviously not good enough!!
 
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