OK, I Quit. Trading is Too Tough for Me
- Thread starter 4DTrader
- Start date
Hey Champ,
I now have 4 or 5 posts!
You and the little dog in your purse now think I'm cool!
I now have 4 or 5 posts!
You and the little dog in your purse now think I'm cool!
And yet you're always within sight.
The myth is as below.
1. Gain can be controlled or planned in advanced, meaning that an x percentage of return can be objectively set to achieve.
2. Loss cannot be planned. No point here to plan such thing since the reason why we're in the market is to make money, not to lose money. Why plan for the losing?
Our natural tendency is to take to first strategy above. Sadly, we subconsciously planned on the wrong side and therefore when it comes into facing a loss we cannot act properly since we didn't actually plan for that, so we let it mounts. The reality is that a gain cannot be planned or predict in advance, but surely a loss can be planned or predict in advance. A loss is something we can objectively set in advance.
We all knew this wisdom.
Cut losses short, and let profits run.
Since we have planned on the let profits run and forget on planning for the losses then we did exactly the opposite.
1. Gain can be controlled or planned in advanced, meaning that an x percentage of return can be objectively set to achieve.
2. Loss cannot be planned. No point here to plan such thing since the reason why we're in the market is to make money, not to lose money. Why plan for the losing?
Our natural tendency is to take to first strategy above. Sadly, we subconsciously planned on the wrong side and therefore when it comes into facing a loss we cannot act properly since we didn't actually plan for that, so we let it mounts. The reality is that a gain cannot be planned or predict in advance, but surely a loss can be planned or predict in advance. A loss is something we can objectively set in advance.
We all knew this wisdom.
Cut losses short, and let profits run.
Since we have planned on the let profits run and forget on planning for the losses then we did exactly the opposite.
Quote from Champion:
Soooooooooooo ..
You didn't plan to fail
You just failed to plan
No, thats not quite right, lets start again ..
You didn't fail to plan
You just kept right on failing with each plan
i've said this before,i can hire an architect to draw plans for a house, he knows where every stick goes and it's length and necessary girth,bit he couldn't build a house,he would have to become a carpenter first, so in trading you first learn how to read a chart and use a few indicators, and you can call the market relatively well,u then must learn the art of trading and so much of it is emotional,it takes time,if u realize this u would spend more time protecting your capital at first knowing that in time u will get better,then it gets complicated because trading scared you take a lot of small losses(emotional). As your knowledge grows so will your confidence,when starting out trading,you can see a few winners and at first u miss them because u don't pull the trigger. If you only take a few trades a week that look like setups you will make enough to possibly stay in the game. Most new traders are anxious to become rich and lose money trying to fill that goal. Trading is not about becoming rich,like any job,the better you are at it,the more money you will make,so a new trader should try to become a good trader not rich, the money will come if you stay in business long enough to become a trader
I don't know the other part. Since you knew both parts of the secret then you will have a very bright future in your trading career.
Quote from 4DTrader:
eagle,
You have pointed out one part of a two-part trading secret (among other secrets). If you go one step further, this secret will be exposed.