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Secrets to success in trading
- Thread starter jharmon
- Start date
Women tend to be too cautious. They are built in a fundamentally different way. Men are builders, designers. They have testosterone. On the other hand, you don't see women overtrading and blowing up accounts like men. Maybe something like spread trading where it's a little slower and you can see things develop would work. Utility stocks, bonds.
Most women probably. My friend who is a doctor and a woman is impulsive too! She has blown up her account multiple times and lost 7 figures I kid you not! There are aggressive women traders out there and they are their own worst enemy! I know I overtrade at times which I am trying to curb now to minimize bad trades. Now, I would have 1 or 2 trades when I used to have 5 or 6 before. I have found my accuracy has improved a lot because of it!
Yeah, I'm going to go on record as saying that your style of trading isn't going to work with her. But she might be able to find something. Need to see what she is interested in. What does she notice, if anything?
Too many bad habits and hard headed! I tell her, have you not lost enough monies in the stockmarket? It is very hard to train someone when they are fighting you every step of the way! Aside from being impulsive, she refuses to learn how to read a stockchart, refuses to finish reading Stan Weinstein's book, refuses to create a trading log even using simple notebook to write down her trades, refuses to alot 30 minutes a day to studying how to trade, follows my trades selectively. If I have 5 trades in a given week, she might pick 1 or 2 and just trade those 2. Problem with that is you do not know which trades will work out and become big winners. Most times, she picks the 2 that lose monies and misses on the winners! On the Stan Weinstein book, it is very funny she promised to finish that book, that was over 12 years ago and still, she has not finished it! Maybe, she got to half of it if at all!
Too many bad habits and hard headed! I tell her, have you not lost enough monies in the stockmarket? It is very hard to train someone when they are fighting you every step of the way! Aside from being impulsive, she refuses to learn how to read a stockchart, refuses to finish reading Stan Weinstein's book, refuses to create a trading log even using simple notebook to write down her trades, refuses to alot 30 minutes a day to studying how to trade, follows my trades selectively. If I have 5 trades in a given week, she might pick 1 or 2 and just trade those 2. Problem with that is you do not know which trades will work out and become big winners. Most times, she picks the 2 that lose monies and misses on the winners! On the Stan Weinstein book, it is very funny she promised to finish that book, that was over 12 years ago and still, she has not finished it! Maybe, she got to half of it if at all!
I over traded yesterday after I said I was done for the day. Gave all my gains back. And I was up good. I was thinking maybe Baron could offer a tie-up service where they come to your house, lock your computer and shrink-wrap you when you need it.
We have the same bad habit (overtrading) and I was doing well January and February 2018 amassing $4,800.00 profits in my two accounts. Problem is I let losses grow on losing positions instead, of exiting them right away. Ate up most of my profits. Stopped trading and reviewed my trading journal. Now, I have less trades but, the last 4 trades I closed out, I did better. Profits of $55.00, $435.00, $30.00 and loss of -$26.00, all directional option trades. All only 1 contract trades.
My mentor used to say that people lose because they want to. Thats what comes to mind. If someone has hidden conflict and can't feel their feelings, they are going to sabotage themself. I mean, that's all of us to some degree, but I've seen better and worse. I have a friend who taught me a simple pattern she knew. She is very smart, but is no longer trading. She takes her own ideas, some of them right, way too seriously. She told me in 2007 that BearStearns was probably going to go bankrupt, and that Goldman was selling everyone toxic stuff. Anyway that stays with me cause she never made any money from it. Gotta let that stuff go and just trade what is in front of you.