IOW... "Cut your losses short, let your profits run". Where have we heard that before??
Which is worse: Losing, or opportunity lost/leaving $ on the table
- Thread starter .sigma
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IOW... "Cut your losses short, let your profits run". Where have we heard that before??
Disagree. So long as your capital is intact, you can always fight another day.
Opportunity loss/cost not when you miss out on a trade blah blah blah but more so when you miss out on an opportunity because you are stuck trying to day trade for many years with nothing to show for it. That loss is more than losing all your money trading 
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so perhaps listen to Dozu with the difference being all in which might work better via all in cost averaging. Lol
. so perhaps listen to Dozu with the difference being all in which might work better via all in cost averaging. Lol
Some people should not be day traders.
Knowing what doesn't work is as important as knowing what does work.
Applies to both business and personal life.
Being "stuck", and "for many years", is personal: has little to nothing to do with trading. Many a waiter never become Hollywood celebs: they remain waiters or not.
An avg loss for me is 10-12 ES ticks and a win is about 18. The WL is about 50/50. At times, I exit winners with a trailing method, and the wins may net as many as 40-50 ticks. With this math, intentionally skipping trades stalls my progress more than unavoidable losing streaks.
After skipping a winner, my mind becomes fixed on the "profit gap". I start thinking, had I just stuck to my plan, I'd be up X amount of ticks/dollars. I then might try something outside of my trade plan, in an attempt to get back on par with where I should be, such as skipping another trade ("maybe I'll skip a loser now") or taking a completely random entry. This sequence of events happens enough days, and it becomes a bad habit that will not be easy (for me) to break.
That said, if I miss a winner because I stopped trading to go doing something else, or because I fell asleep on the job, that's a different situation and not a big deal. I don't feel bothered at all.
After skipping a winner, my mind becomes fixed on the "profit gap". I start thinking, had I just stuck to my plan, I'd be up X amount of ticks/dollars. I then might try something outside of my trade plan, in an attempt to get back on par with where I should be, such as skipping another trade ("maybe I'll skip a loser now") or taking a completely random entry. This sequence of events happens enough days, and it becomes a bad habit that will not be easy (for me) to break.
That said, if I miss a winner because I stopped trading to go doing something else, or because I fell asleep on the job, that's a different situation and not a big deal. I don't feel bothered at all.
All three! If you're losing, you're leaving money on the table. Most likely because you didn't take action. That's why serious traders automate to eliminate these issues if you have an edge of course.
Easiest way to break a habit is to replace with new.
TRADE TO TRADE WELL and money takes care of itself!
The "should" thing is over-think/wishful-think. No different than "it's time", "it's/I'm due", "profit gap": they exist in thought, not reality. Without being preachy, where you are, is a precise relationship with the actions(or lack of) you have taken based on knowledge you posess.. you "should" be exactly where you are!! The sequence of w/l means nothing. TRADE TO TRADE WELL! The money takes care of itself.
Just discussing. Nothing personal. Happy Holidays!
Those who leave $ on the table (and assuming they got out break even) are just lucky. Otherwise, the trade would have turned out as a loss. They're like those who pretend they got a real bargain buying outdated merchandise at second-hand store.
