Losses just aren't that bad. Even long strings of them.

jnbadger · Apr 13, 2022

TheDawn said:
Well if you backtest enough and demo trade enough, you will know whether a string of losses is a part of normal trading performance or is really a waning of your edge. That's what I was trying to say.

Never intended to offend anyone and I apologize if I did.

No. No offense taken at all. I appreciate any input, and I understand what you meant. My head is just spinning right now. I'm just numb.

TheDawn · Apr 13, 2022

jnbadger said:
I just want to say thank you for all of the responses from so many members who I have respected so much (and gathered some nuggets of info) over the years. I didn't expect such a response from the rock stars on this board.

I know I mentioned in my original post that the crash was a mile from my house. I live in a small town in Wisconsin of about 8K. Turns out my sister and I know the mother who was driving one of the cars, and whose 20 year old daughter was killed in the crash.

I am going to go get a very expensive bottle of scotch, get fucked up and cry my eyes out. I think I'm out of trading for the week.

But like the GB Packer hall of famer, A.J. Hawk said, "Give yourself a timeline to grieve. But then get back up and hit those mother fuckers as hard as you can".

I'm out for a while guys. This sucks. Thanks again.

OMG!! My condolences. You take care. Take some time off. It's Easter weekend.

comagnum · Apr 13, 2022

This may provide some extra mojo, this trader gets into 20% draw downs all the time and has a real low win rate from cutting his losers aggressively.

https://zenandtheartoftrading.com/blog/kristjan-kullamagi-is-a-loser/

easymon1 · Apr 13, 2022

jnbadger said:
Yes. As I stated in another thread, you just don't know how far they're going to go when you are in the money. I learned the hard way that it can actually be frightening when you get out of a trade too early, and it could have been the best trade of the year. THAT IS PAINFUL.

jnbadger, I see from your profile:
Registered:
Nov 12, 2004.

If you want to share the timeframes you like to trade, the timeframes you find most fruitful for runners and a tip or two on how you manage your runners ...

jnbadger said:
When someone asks me what I do, I just say "stock market". It saves a lot of hassle.

PeterNguyen · May 11, 2022

well, losses are pretty much inevitable in trading. What is important is how you handle your trading losses and what can you learn from them to not repeat that mistakes again in the future.

deaddog · May 11, 2022

PeterNguyen said:
well, losses are pretty much inevitable in trading. What is important is how you handle your trading losses and what can you learn from them to not repeat that mistakes again in the future.

If you think taking a loss is a mistake you probably won't be a successful trader.

murray t turtle · May 13, 2022

deaddog said:
If you think taking a loss is a mistake you probably won't be a successful trader.

%%
JN B seems to be fairly skilled + I all most reminded him i would not want a long string of losses\; but over a long period of time that could be reasonable.

I would consider a long string of losses worse than a mistake on one ETF i trade+ invest;it tends to make smaller profits + smaller losses. I dont trade/invest it much because i like larger profits.
But on a day like today, i was reasonable sure i would not lose much + did seVeral things else.

deaddog · May 13, 2022

murray t turtle said:
I would consider a long string of losses worse than a mistake on one ETF i trade+ invest;it tends to make smaller profits + smaller losses. I dont trade/invest it much because i like larger profits.

Not exactly sure what you mean but that's normal.

Because I cannot possibly know what the market will do next (That's not one of my super powers) all I can know is when I'm wrong and what I'll do about it.
Now I don't consider being wrong a mistake. It's something I plan for. So a series of losses is not considered a mistake, only part of the plan.

But on a day like today, i was reasonable sure i would not lose much + did seVeral things else.

Does that mean that you were sure you wouldn't lose much and you did several things else like lose more than you planned, lost a lot and got a margin call???

murray t turtle · May 13, 2022

deaddog said:
Not exactly sure what you mean but that's normal.
Because I cannot possibly know what the market will do next (That's not one of my super powers) all I can know is when I'm wrong and what I'll do about it.
Now I don't consider being wrong a mistake. It's something I plan for. So a series of losses is not considered a mistake, only part of the plan.

Does that mean that you were sure you wouldn't lose much and you did several things else like lose more than you planned, lost a lot and got a margin call???

%%
LOOKS like you understood the first part. :caution:

ON your last sentence, no i mean made a profit + lost within limits. AS far as a margin call/LOL, no way/ i do ETFs + NO way possible to get a margin call

Losses are a business expense , to many of them =worse than any mistake, but part of any business. I did have an new auto repo in my younger years, like a margin call.

Never again.

schizo · May 13, 2022

Just find your edge and stick to it, come rain or shine. It's when you dilly dally, without any concrete plan, you end up incurring large losses.