throwing in the fkin towel!!!
- Thread starter slickshal
- Start date
Trading is not for everyone, just like all other businesses in life. The OP found out trading is not for him and is pissed now that he was a failure, so he looks to bring others with him.
Misery loves company...
Misery loves company...
bluedemon77
Guest
Quote from Trader273:
10%
Actually, that's the probability. The odds are 9:1 against.
you are totally right about loser-traders (tm) always talking about MANIPULATION.
i call it the "double m" (the manipulation meme)
several trading psychologists have commented on one of the key traits of a successful trader is taking ownership/responsibility for one's trades.
blaming losing trades on "manipulation" is a copout
i call it the "double m" (the manipulation meme)
several trading psychologists have commented on one of the key traits of a successful trader is taking ownership/responsibility for one's trades.
blaming losing trades on "manipulation" is a copout
Slick,
"That line about averaging down is one of the best market
proverbs I have ever read. I read it 20 minutes ago and I am having difficulty typing this because I am still laughing so hard!
You definitely have a future in comedy writing."
P.S. Suggestion: Write a book called "Stock Market Proverbs."
The word "manipulation" and "manipulator" is so abused on trading boards by obvious losers. Take responsibility. Trading isn't easy money......until you learn how to trade. Pay your dues or quit.
Jesse Livermore said: "I can't have much sympathy for the man who blames others for his own failure to make easy money. He is a devil of a clever fellow when he wins. But when he loses money the other fellow was a crook; a MANIPULATOR".
In truth Livermore was in his later, most successful years, a manipulator of stock prices rather than a trader in the sense that many of the traders in this forum are traders. By that i mean that Livermore bought and sold huge quantities of stock, usually in several large blocks spread out over time, in a single company with the expressed purpose of pushing the price up or down and in doing so bringing in other investors that he could then unload on at still higher prices or buy from at still lower prices. This kind of manipulation is routine, acceptable, and legal. Many traders, however, do not trade in sufficient size to successfully manipulate prices. There is nothing wrong with clever manipulation of price.
Jesse Livermore said: "I can't have much sympathy for the man who blames others for his own failure to make easy money. He is a devil of a clever fellow when he wins. But when he loses money the other fellow was a crook; a MANIPULATOR".
In truth Livermore was in his later, most successful years, a manipulator of stock prices rather than a trader in the sense that many of the traders in this forum are traders. By that i mean that Livermore bought and sold huge quantities of stock, usually in several large blocks spread out over time, in a single company with the expressed purpose of pushing the price up or down and in doing so bringing in other investors that he could then unload on at still higher prices or buy from at still lower prices. This kind of manipulation is routine, acceptable, and legal. Many traders, however, do not trade in sufficient size to successfully manipulate prices. There is nothing wrong with clever manipulation of price.
Ok where do I start, lots to say here
First of all, I'm sorry you had a bad day, I really am. I've been there and it feels like someone beat on your self esteem so hard you can barely look yourself in the mirror.
However, I'll tell you this....
No profitable trader gets there without a fair amount of losses.
You must learn from your losses to get there. Losses teach us some great lessons.
Those that learn from losses might prevail in the end, on the other hand the majority runs away and comes back without the lesson learned.
In order to win in this game you must learn to lose, and lose you will.
Now....
Something important. We are all competitors here, therefore don't expect to find the holy grail by browsing the forum. Experienced traders great days are based on the unfortunate newbie traders who think this is some type of Nintendo video game that you can master in 2 weeks.
As far as averaging down, if used correctly, it can be a very powerful tool.
For example...
Pick an instrument that trades in ranges.
Limit the amount of times you average down. If you regularly trade 4000 shares of XYZ, don't go beyond 4 x 1000. Plan your trade, and trade your plan.
And last but not least, your MOST important, never average down OUTSIDE of your initial stop area. If you are stopped out, it's over, regardless if you did, 1k,2k or 4k shares.
Hope you get back on your feet.
Good luck.
First of all, I'm sorry you had a bad day, I really am. I've been there and it feels like someone beat on your self esteem so hard you can barely look yourself in the mirror.
However, I'll tell you this....
No profitable trader gets there without a fair amount of losses.
You must learn from your losses to get there. Losses teach us some great lessons.
Those that learn from losses might prevail in the end, on the other hand the majority runs away and comes back without the lesson learned.
In order to win in this game you must learn to lose, and lose you will.
Now....
Something important. We are all competitors here, therefore don't expect to find the holy grail by browsing the forum. Experienced traders great days are based on the unfortunate newbie traders who think this is some type of Nintendo video game that you can master in 2 weeks.
As far as averaging down, if used correctly, it can be a very powerful tool.
For example...
Pick an instrument that trades in ranges.
Limit the amount of times you average down. If you regularly trade 4000 shares of XYZ, don't go beyond 4 x 1000. Plan your trade, and trade your plan.
And last but not least, your MOST important, never average down OUTSIDE of your initial stop area. If you are stopped out, it's over, regardless if you did, 1k,2k or 4k shares.
Hope you get back on your feet.
Good luck.