throwing in the fkin towel!!!

Has anyone gone to a trading school? I don't mean a free seminar put out by a broker that showcases their product but a real onsite school where you pay a few grand.

I'd be interested in hearing your experiences...

Thanks!
 
Quote from slickshal:

there is hope.. i need to relax.. cause i do have skills.. and im noy bragging either.. i look over my trades.. at least 60% are in the green the second i jump in.. i have a good feel of the momentum of stocks..
its just when im wrong... my process of thinking goes haywire.. not always.. but u wanna laugh.. i lost the 15k in 6 fvkin trades..
and if u count the money i made trading right... bout 6k.. it adds up even more
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Welcome to the club!

This is true for everyone ... so what you have to do is analyze all of your trades, looking at money management, maximum stop loss - and the impact it has on your bottom-line, the maximum, average and minimum that a trade will tend to go in your direction before turning around, etc., etc.

Keep good notes.

Doing so will eventually lead you to being profitable. It really is just a business, in many respects, like any and every single other.
***
Plentry of resources around here, don't hesitate to use them.

Best Regards,

JJ
 
The biggest problem (biggest not the only one) unsuccessful traders got (read 90% of the people here) is that they got a really hard time taking and accepting their small losses.

Bad trade, small loss, big deal, move on..

They should get a tattoo based on the above example
 
There are five parts to this game.

Discipline, research, experience, patience and the money to hold you through until you get it right, if you ever do.

Just in experience you will need a few years worth.
 
Quote from giles117:

A perfectionist who has learned that failure is ok can learn to trade. I was one such person.

Perfect to a flaw (Oops, I was imperfect, but you couldnt tell me that. LOL) Being an engineer.

The wisest pc of advise came from a psychologist. He told me quit trying to be so perfect. You spend more time trying to be perfect when you probably got it working better than 90% of the people out there in the 1st 10 minutes. The last 50 minutes you've just been wasting time.

Loosen up a bit, and have fun with life. Trying to be perfect will eventually stress you out. Class A personalities have this bad.

I've only been trading for 4 months myself (this go round. I got burned a few years back, like alot of us Perfectionists who were clueless) This time I started small. (100 to 500 share lots) and what I learned most (which is what you may have missed) is Money Management.

Watching those losses has allowed me to be up, not down.

While you are panicking, step back. Study Risk/Money management and look at all your mistakes and jump back in.

As others have said, never average down in a losing trade. Thats insane. You might as well hit Harrahs and bet it all. At least you'll get a free drink out of it. LOL.
Honestly, since rejoining the fold, I avg 3 out of 5 losing trades, but those 2 winners. Biggest thing is I keep my losers SMALL and I jump out QUICK. It's like being in the middle of a gun fight and you dont have a gun. Dont stay, you'll get shot.
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OK I see a good bet,

Give me 8.5 for 1 on this guy to succeed (would 1.5-2years be enough?), and I will take the bet. I am offering better than average odds.

(This is assumed that he has decent capitalization, and I will not bet big. I am not much of a gambler.)
 
Quote from JimmyJam:

Welcome to the club!

This is true for everyone ... so what you have to do is analyze all of your trades, looking at money management, maximum stop loss - and the impact it has on your bottom-line, the maximum, average and minimum that a trade will tend to go in your direction before turning around, etc., etc.

Keep good notes.

Doing so will eventually lead you to being profitable. It really is just a business, in many respects, like any and every single other.
***
Plentry of resources around here, don't hesitate to use them.

Best Regards,

JJ
More...

ty for the advice
 
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