Very hard time taking loss:(

Quote from Buy1Sell2:

I read Grob's post where he quoted me, but was unable to tell if he was agreeing with me or disputing me. I need some further clarification as I couldn't tell if my post had anything to do with his. (I realize of course, that I am opening myself up to obvious criticisms here).
More...

Not to worry.


This is not an agree or disagree world.


It is really difficult to get into conversations, etc.....when the playing field is so broad.


Most people get into trading by going about it in a way that dooms them. Its very tough to get out of such traps.



This thread is mostly a commentary by people who are trapped by their pseudo plans. They do not have any alternatives to become successful.
 
Quote from Grob109:

This thread is mostly a commentary by people who are trapped by their pseudo plans. They do not have any alternatives to become successful.
More...
Does that include my nifty post?
 
actually almost any good plan can make money, but the traders become the real obstacle...........mark douglas "trading in the zone" is the first book i ever read on trading ............it addresses psychological aspect of trading........understanding risk, fear, and why the brightest are not necessarily at the top of trading world..........as a matter of fact, they tend to bomb out quicker than others.....
 
Quote from ksonsinc:

Well i have been scalping 100 shares to 150 shares and have been doing good but here is the problem i am having a hard time taking losses :(
When a trade goes again me i see my self losing $10 or $20 i think it will come back or i can average it and it just messes my brain up
If a trade goes again me how much should i expect to lose $8 $10 $12 $15
More...

Get out while you still have some money left. If you can't take losses this isn't the game for you.
 
Quote from ksonsinc:

Well i have been scalping 100 shares to 150 shares and have been doing good but here is the problem i am having a hard time taking losses
When a trade goes again me i see my self losing $10 or $20 i think it will come back or i can average it and it just messes my brain up
If a trade goes again me how much should i expect to lose $8 $10 $12 $15
More...
Quote from tradewiz50:

Get out while you still have some money left. If you can't take losses this isn't the game for you.
More...
His problem is that he can't get out.
That's why he loves whining about it in our psycho thread.
 
Quote from ksonsinc:

Well i have been scalping 100 shares to 150 shares and have been doing good but here is the problem i am having a hard time taking losses :(
When a trade goes again me i see my self losing $10 or $20 i think it will come back or i can average it and it just messes my brain up
If a trade goes again me how much should i expect to lose $8 $10 $12 $15
More...

Thank you for sharing. On a good note, it is great that you are seeking to learn how to lose. Losing is a big part of trading.

Ask yourself, "How much does this financial instrument have to move to cover fees? To be profitable? What is the estimated possibility that it will make the move? How did I come to that estimation? What are the odds of this system working?

Ask yourself similar questions and more. Make a business plan. Execute it.

If it doesn't work, restructure it. Tweak it.
 
Quote from 4PurposeLiving:

Thank you for sharing. On a good note, it is great that you are seeking to learn how to lose. Losing is a big part of trading.

Ask yourself, "How much does this financial instrument have to move to cover fees? To be profitable? What is the estimated possibility that it will make the move? How did I come to that estimation? What are the odds of this system working?

Ask yourself similar questions and more. Make a business plan. Execute it.

If it doesn't work, restructure it. Tweak it.
More...

how come you are such a genius but have only recently registered. Nick #45?
 
Quote from Commodz:

Hi,

I think I can give you some info on your question/problem. If you picture your trading like the standard bell curve. With your winning trades scaling out to the right... an example.. +500, +1000, +1500, +2000 out to infinity and also on the left hand side of the bell curve would signify your losing trades; -500, -1000, -1500, -2000 out to negative infinity, if you look over your actual account statements you will notice that most of your trades, whether they are winners or losers will fall somewhere in the middle of the bell curve. Standard distribution. You will also see that you had the "big losing trades" and the "huge winning trades much less frequently... (they will be out on the fat tails of the curve). The key is to cut off the left hand side of your bell curve (losing trades) at a certain point. Lets say -$500 and thats it, no matter what happens. If you do that and leave the right side of your bell curve open to the possibility of the "huge winners" and dont take your profits prematurely then when these big winning trades do come around.. which is not often.. you will be in them and these trades will take care of all your small losers and transaction costs. Play for the " Positive Fat Tails" and cut your losses. Hope this helps
More...

Of course, you will knock out some of the big winners as well when you cut your losses simply because there will be those trades that lost heavy initially but then recovered to become big winners.
 
You must log in or register to reply here.
Back
Top