Prudent Risk Management Is The Only True Edge In TRADING

[loyek590]

I went all in one time. I am still living off that money. Wouldn't have mattered if I had lost, I was one sorry trader when I put it on.

 

[Visaria]

There are opportunities each and every day, but every trade carries risk.

If you are talking about being in the right place at the right time, then that of course is a different story, but to go in 150% would be foolish in my opinion, as you might get away with it a rare few times, but one day you will get caught and be one sorry trader.

Consistency is far better than one hit wonders!

Would disagree. There aren't opportunities every day, you may think there are, but probably a matter of seeing what you want to see.

I only need a few times of going all in 150% to make a fortune.

Would rather take 1 hit wonders* every now and then, screw consistency.

* i suppose they wouldn't be 1 hit wonders if they came about regularly!

 

[deaddog]

0 since the right opportunity would mean zero risk

So you would never go 150%.

It is not unusual for me to employ over 100% of my trading capital but I only risk 1% on any one trade.

 

[Visaria]

no, i really meant the risk being 150%!!!!

i think i would do maybe 20% risk on a trade if i had huge conviction on it.

 

[J_Smith]

Would disagree. There aren't opportunities every day, you may think there are, but probably a matter of seeing what you want to see.

I only need a few times of going all in 150% to make a fortune.

Would rather take 1 hit wonders* every now and then, screw consistency.

* i suppose they wouldn't be 1 hit wonders if they came about regularly!

One man's misfortune is another man's gain.

Opportunity is in the eye of the beholder.

I would imagine that you are either not telling the truth, dreaming, or just trying to stir the s*it

 

[Visaria]

read druckenmiller's speech is the best advice i can give.

 

[J_Smith]

No thanks, I much prefer Enid Blyton

 

[Visaria]

Yes, i think that might be best for you.

 

[loyek590]

Who makes more money, the little shop on the village corner or the big supermarket in the center of the town!

One of the biggest mistakes a person dabbling in trading can make is to think that he/she can "consistently" have large winners and small losers.

Those who try would do well to understand this quote.

“If I am I because you are you, and you are you because I am I, then I am not I and you are not you. But if I am I because I am I, and you are you because you are you, then I am I and you are you.”
Rabbi Menachem Mendel of Kotzk

I'd rather own the little shop on the village corner than be a manager at walmart

 

[Visaria]

I'd rather own the little shop on the village corner than be a manager at walmart

Why? The Walmart guy probably makes more money and has no risk.