Money management - the holy grail
- Thread starter oilfxpro
- Start date
Quote from oilfxpro:
Your chances of making money and being profitable are only 1%.
If I was to give you a money management strategy which will make all your losing systems into profitable systems.
What will you do for mankind , charity and human decency?
This is all done in the name of my late son to help his soul.
He wanted to help people and he lived for people.
He lived his life for people , helping the sick and the helpless.
You are all human beings some suffering losses . some unemployment and some from mankind's loss of integrity.
What will u do and how?
How many of you will try and market this free help , for personal gain , to make the world a better place?
Pesonal gain is not materialism , you can not take anything from any one when you leave this world
First off, I'd just like to send my condolences for the loss of your son. It sounds like he was very servant minded and had a true heart for other people.
Second, I'd love to hear more about your money management strategy.
You mentioned something about going to Africa... I actually spend two weeks a year in South Africa working with aids orphans to teach them about proper nutrition, safe sex, and the importance of education and mutual respect for each other.
I also work closely with an anti-sex trafficking group in Houston known as Free the Captives.
On top of that, I come from very humble means and had to drop out of school and forfeit my scholarship because I moved home to work and help out m parents who had filed for bankruptcy. If it weren't for an amazing family that changed their endowed scholarship requirements to allow for me to qualify for it, then I would not have been able to finish school.
I vowed from that day forward to be as successful as possible, not so I could have a big house and lots of toys, but to be able to somehow pay forward the kindness that I recieved.
I am currently a power trader as a day job, but I trade in my own personal accounts as well in hopes of making a little bit extra on the side. I'm slowly trying to teach myself how to be a successful day trader so that I can one day quit my day job and focus specifically on managing my own personal account.
I am constantly seeking out the advice of other that are more successful than myself. I feel like learning from other successful people is the best way to become successful yourself.
Thanks again for your time and I hope that you will be willing to share your knowledge with me.
not really. at the first impression, it seems it is.
but if you have an improper trading idea, you still end up dead.
for example, someone tries to pick bottom on a downtrend (he/she always thinks the bottom is near, bias, so he/she buys), but each time after he/she is in, the exit door is closed the market dropped a little bit more. so even if he/she has good money mangemnt there, he/she is slowly blooding in his/her account.
I saw some guys who are keeping buying UNG (natural gas) or FSLR, whether they have a good momeny mangament or not, they end up losing.
put another way, another guy who keeps selling on any little pop, and put all his/her account into his/her sale, someone will think he/she is nuts have bad poor money managemnet, but he/she keeps making money.
from this analysis, you know the truth about success is not money management, it is someone's intelligence: you need stand in the right side of market.
if most time you stand on the wrong side of the market, no matter what money management strategy it is sure you lose
but if you have an improper trading idea, you still end up dead.
for example, someone tries to pick bottom on a downtrend (he/she always thinks the bottom is near, bias, so he/she buys), but each time after he/she is in, the exit door is closed the market dropped a little bit more. so even if he/she has good money mangemnt there, he/she is slowly blooding in his/her account.
I saw some guys who are keeping buying UNG (natural gas) or FSLR, whether they have a good momeny mangament or not, they end up losing.
put another way, another guy who keeps selling on any little pop, and put all his/her account into his/her sale, someone will think he/she is nuts have bad poor money managemnet, but he/she keeps making money.
from this analysis, you know the truth about success is not money management, it is someone's intelligence: you need stand in the right side of market.
if most time you stand on the wrong side of the market, no matter what money management strategy it is sure you lose
Quote from oilfxpro:
Your chances of making money and being profitable are only 1%.
If I was to give you a money management strategy which will make all your losing systems into profitable systems.
What will you do for mankind , charity and human decency?
This is all done in the name of my late son to help his soul.
He wanted to help people and he lived for people.
He lived his life for people , helping the sick and the helpless.
You are all human beings some suffering losses . some unemployment and some from mankind's loss of integrity.
What will u do and how?
How many of you will try and market this free help , for personal gain , to make the world a better place?
Pesonal gain is not materialism , you can not take anything from any one when you leave this world
bible said god only helps those who help themselves
that means if they can not act right by themseves, no one can help them act correctly. or they are doomed to fail.
people like to think, see, when you lose, you think money management is the key, is money management is the key?
when you see people struggle in trading, you immdiately say they need help, professional helps is the solution?
NO, when you think in that way, you are doomed.
why, when your insticnt tells you here is mega million lottery ticket, you may just buy a tiny share of your account, good money manemeng oh, but bad trading habit, you will never be a true winner
or, you may think, wait a minute, what my professional helpers say, after you seek that help, the opportunity vanish....
a winner must be an indenpend thinker, act with no influence of others, or a true bull or true bear
that means if they can not act right by themseves, no one can help them act correctly. or they are doomed to fail.
people like to think, see, when you lose, you think money management is the key, is money management is the key?
when you see people struggle in trading, you immdiately say they need help, professional helps is the solution?
NO, when you think in that way, you are doomed.
why, when your insticnt tells you here is mega million lottery ticket, you may just buy a tiny share of your account, good money manemeng oh, but bad trading habit, you will never be a true winner
or, you may think, wait a minute, what my professional helpers say, after you seek that help, the opportunity vanish....
a winner must be an indenpend thinker, act with no influence of others, or a true bull or true bear
it does? care to post a reference?
any professional trader will tell you that good money management is key.
yes, you do actually have to couple that with disciplined and educated trades. you can't just blindly throw darts and pray for your money management to bail you out of something bad.
but you make it sound like MM is not important when it's actually key.
you say a "trader must be an independant thinker".
the majority of technical trading is based on what OTHER traders are thinking.
if you're a newbie trader then i'd say being an "independant trader" will get you broke a lot quicker than anything else.
never try to re-invent the wheel. learn success from those who are successful.
"pioneers get slaughtered while settlers flourish"