why can't i stop after 3 losers?

op...

It's obvious your system was not working that day...this is why you made the rule...it should be market based and your rule supports that it was "one of those days".

The idea of switching to demo was a good idea and I can support your plan.

but...

Just carry on as you always have and next time just interpret the "stop after three" rule as another indicator to give you a heads up...meanwhile look for an edge that trades on those days so you can "switch"...instead of going to demo.

ES

P.S. Thanks folks for keeping this professional. Threads like this can really get candid, because anonymity allows certain liberties. May I remind you that all of us are anonymous characters and the the thought behind the thread should be the "meat"... Please take any personal arguments to PM.
 
Quote from bstay:

You still have not answered one of the questions asked above, have you figured out WHY you are unable to control yourself on that 7-to-0 losers day? Someone said character flaw but that's not wrong to ask of a trader psychology.

If you don't know the cause, it will happen again after a series of winning days. And then it hits you hard again, hopefully not as bad next time. But I predict it WILL happen again to you.
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"f you don't know the cause, it will happen again after a series of winning days. And then it hits you hard again, hopefully not as bad next time. But I predict it WILL happen again to you.


correct. it doesn't apply just to the OP's particular error of not stopping after 3 losers it applies to repeating any trading error over and over again or perhaps even repeating a group of errors.
 
The "focus" of some traders exceeds that of others. The unwielding rules that one makes for successful trading are literally "do or die"...black or white....This is how they gain control.

This thread seems to be about focus and discipline....oh my...all those well meaning traders posting the "one-liner, well sounding" post..."YOU MUST BE DISCIPLINED".

traders...those posts sound great...can you fail if you follow them?...yes.

The market carries on and it does not know your condition...it simply trades on...If you make rules to reveal to you how the market is trading...how the programs are kicking in...what the market maker is doing...etc...then you need contingency plans to deal with this "need to trade".

The op had a "switch to demo" plan for these instances which in my opinion is very good. He wants to trade live though and turn the loss around...I say it is simply trading and knowing how to trade and when to trade and what strategy to use, by what the market tells you. Your rules can be a positive communication to you and you can learn to trade perpetually.

ES
 
Quote from emg:
you should tell him to give up. He has no chance of winning the game. That give up advice will save him thousands of dollars. If u are going to lecture him to keep trading and in 1 month, he lose $20K, he should sue u for that because u persuaded him to continue to trade
you can encourage losers to continue to trade when the odds are 4 times higher they will not make it in the game, while i am telling them, the game is over and move on
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your advice is noted. please go away and troll someone else's thread.
 
Quote from emg:

you should tell him to give up. He has no chance of winning the game. That give up advice will save him thousands of dollars. If u are going to lecture him to keep trading and in 1 month, he lose $20K, he should sue u for that because u persuaded him to continue to trade

you can encourage losers to continue to trade when the odds are 4 times higher they will not make it in the game, while i am telling them, the game is over and move on
More...

emg, I don't know who you are because I'm preatty new to this forum, you always say that it is impossible to become profitale, could you please tell me your story? are you profitable? It is ok to say you will never make it, but you should explain why, we all know that 99% of traders end up blowing out their account and fail, but why we can't be in the 1% that manage to turn the corner? if you are profitable why we can't make it? After 4 years of trading and losing so much money I woud say the same thing to someone who approach for the first time to trading, I also would say him that I don't know anyone who is profitable, but simply because i knew only 1 person who is trying like me to become proftable, if you know something that we don't know please tell us, I'm really interestednin your story and your opinion.

sorry for my english...
 
Quote from frank01st:

i have a written rule regarding money management......why can't i stop myself after 3 losers?
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I haven't read the whole thread and I ain't gonna. Having said that, where did you pull out this arbitrary number "three"?

Maybe your "written rule" sucks.

What instrument are you trading?

And, you can't stop yourself because you don't have discipline.

Whatsup, Frank?
 
Quote from Fireplace:

You cannot control the market, you can only control how you interact with it......
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Another ET gem. (See, they do exist.)

I get mad/tickled when I see so many people coming on ET saying that nothing good is ever posted here. Too funny.

It's called work, folks. Nobody's going to lay it all out for you. Scary, huh? BOO!
 
Quote from emg:

you should tell him to give up. He has no chance of winning the game. That give up advice will save him thousands of dollars. If u are going to lecture him to keep trading and in 1 month, he lose $20K, he should sue u for that because u persuaded him to continue to trade

you can encourage losers to continue to trade when the odds are 4 times higher they will not make it in the game, while i am telling them, the game is over and move on
More...





quitters never win and winners never quit


Now you had better hurry up and pay for my mojitos!
 
Quote from darktrader:
emg, I don't know who you are because I'm preatty new to this forum, you always say that it is impossible to become profitale, could you please tell me your story? are you profitable? It is ok to say you will never make it, but you should explain why, we all know that 99% of traders end up blowing out their account and fail, but why we can't be in the 1% that manage to turn the corner? if you are profitable why we can't make it? After 4 years of trading and losing so much money I woud say the same thing to someone who approach for the first time to trading, I also would say him that I don't know anyone who is profitable, but simply because i knew only 1 person who is trying like me to become proftable, if you know something that we don't know please tell us, I'm really interestednin your story and your opinion.
sorry for my english...
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please, don't encourage emg to come back here to troll. you can talk to him elsewhere but not here. i don't want him to post on my thread, please .....
 
Quote from darktrader:
After 4 years of trading and losing so much money I woud say the same thing to someone who approach for the first time to trading, I also would say him that I don't know anyone who is profitable, but simply because i knew only 1 person who is trying like me to become proftable, if you know something that we don't know please tell us, I'm really interestednin your story and your opinion.
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What about yourself darktrader? Are you profitable after 4 years of trading? How did you turn it around? If not, why are you still trying?
 
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