why do i keep losing?
- Thread starter nwose
- Start date
This is an interesting thread. I love the answer there are winners and there are losers. But then again sometimes the only difference between them is the winners are the ones that just kept at it until they figured out an approach that worked for them. I learned how to trade simply because I was determined to. (obsessed is probably more accurate) And this was true for me too:
"It wasn't until I tried something completely radical, contrary to conventional wisdom that I started winning."
"It wasn't until I tried something completely radical, contrary to conventional wisdom that I started winning."
1 - blew my account for the second time, same broker.
2- dont even want to say, but not a whole lot.
3- almost
4- thats what i want to start looking into.
5- no, because theres not the benefit of margin.
6- looked into them when i first started, but the volume was too
low and the spread to wide.
The demo was alot different, first off they start you off with a 50,000 balance so i started trading lot sizes i never could in real life which got me into a delusional state of mind.
On the demo when you put out a limit order it gets filled ALOT quicker than real time. Thought i could just buy and sell for 1 tick, and on me real account they never got filled, they would just sit there, i was like WTF is going on. Thats when the first dose of reality set in. That has been about a year since then, so ive leared alot.
So you are saying trading is just for fun and not for profit?
You should exercise discipline when paper trading, seeking to make the experience as realistic as possible.
a. Trade with the same size you're going to be using on live mode (1 lot)
b. Only use market orders, buy from the ask, sell at the bid. When doing this you ensure that your execution on paper trading is a little sloppier than what you'll usually get when live; and you stay away from queue simulations that usually end up making paper trading easier than real life.
Regarding few of your other posts on this thread.
if you're going to make it in this business you're going to have to work hard, & study hard. Start by learning how to manage your risk, if you manage your risk you can sustain loses during the extensive period of time you'll need to even accumulate the necessary screen time to make it in this business (no less than 5 years). As it was recommended before you should read Mark Douglas, get your mind in the right wave lenght...
Something that seems dangerous about your initial post is that whole plan with the 15 contracts on the ES... It sounds very much like the compulsive gambler's mentality... trying to recoup by playing a martingale system... (a betting system that eventually bankrupts all of those that use it; consciously or not)
you may want to check out this guys while you still have your shirt on your back:
http://www.gamblersanonymous.org/
Quote from the1:
I wonder if the OP took that 15 lot short? Looks like the market handed out a royal flush after all but unfortunately, had the position been put on Monday morning it would have blown up. Hopefully he did it Tuesday morning
Monday was president's day so hopefully he didn't go in. But on his post he did say he was going all in on Tuesday. See, that's the thing about trading, anything can happen but you got to keep your bets small to live long.
To become great at something, you need 10,000 hours of dedicated study
In trading, I'd say about 5 years of full-full-time study - I traded and was glued to my screen for about 18 hours everyday for a few years
Now things have come together
I'd say it cost me about $25K in tuition
But it is all worth it
In trading, I'd say about 5 years of full-full-time study - I traded and was glued to my screen for about 18 hours everyday for a few years
Now things have come together
I'd say it cost me about $25K in tuition
But it is all worth it