why THE HELL is it so easy to do the wrong thing...

candletrader · Nov 16, 2002

Gordon,

Keep a detailed journal of what you did, why you did it and the $ outcome. Keep this diary maintained religiously every evening for at least 3 months.

By then you will have the answers to many of your questions and you should be in a much better position to independently work on the remaining unresolved issues.

Candle

gladiator · Nov 16, 2002

Quote from Gordon Gekko:

MY BIGGEST PROBLEM IS.........even knowing all this, I STILL HAVE NO F#$@ING IDEA HOW TO REVERSE MYSELF!!!!!!!

I believe this to be the sigal biggest piece of the puzzle that everyone is searching for.

I use very large stops, but i reverse my positions alot.

Think about it ... If all u have is stop-outs or winners, u have to get the #'s right or u'll be a looser. If u reverse, the market somehow get's the #'s right for u.

Keep working Gordon.

gotnotelly · Nov 16, 2002

Why don't you give the market a break for a while? Go do something else instead for a few weeks. Everyone needs a holiday. It will still be here when you get back.

x-or · Nov 16, 2002

Funny, but if i had used a larger stop during the last 3 months, my average loss would be smaller.

Why ? because I've been stopped out too often on good moves (good entries).
If you have good entries and your stop is too small, you'll never get a winner.

In my opinion, you don't want to loose your money. That's why you use tight stop. But at the end, you've got the opposite result.
If you want some winners, use larger stops. In a word, be ready too loose more (but you won't).

Well that's just a guess... I don't know your trades.

dbphoenix · Nov 16, 2002

I suggest that people stop posting random advice, unless they just want to post for some reason. Nitro nailed it: unless he posts his trades, there's really nothing to say. If he doesn't post his trades, then he really doesn't want to solve his problem.

--Db

nitro · Nov 16, 2002

How can you post all this stuff? You might as well be talking about goblins and ghosts? This is not the scientific method.

GG, post your trades or you well get more PHILOSOPHY.

nitro

aphexcoil · Nov 16, 2002

Quote from nitro:

How can you post all this stuff? You might as well be talking about goblins and ghosts?

The new Harry Potter movie is out. I'm thinking about seeing it tonight!

NihabaAshi · Nov 16, 2002

Quote from nitro:

How can you post all this stuff? You might as well be talking about goblins and ghosts? This is not the scientific method.

GG, post your trades or you well get more PHILOSOPHY.

nitro

Completely agree.

All that time it takes to make all those posts (over 1400) by GG could have been used to uncover or search for solutions via posting a trade journal with times, price entries and exits along with charts.

Public or private trade journals are extremely revealing and often will either tell a trader they don't have what it takes to become a successful trader or will help them to find out what the problem is and possibly get answers that'll allow them to stop the bleeding and become profitable.

Nitro...hopefully more traders have read your posts on this subject...besides just GG.

NihabaAshi

OPTIONAL777 · Nov 16, 2002

Quote from aphexcoil:

The new Harry Potter movie is out. I'm thinking about seeing it tonight!

An average of 17.76 posts a day........

I see your average is going back up......

Has your super computer figured out just how long it will take at the current rate to become the King of posting at Elite?

Long-Way-To-Go · Nov 16, 2002

Quote from wally_:
Isn't it what I suggested to you on some other thread when I was talking about 6 pt stop-losses that I use?
...
In other words, to make money, you have to be willing to risk it.

Quote from Corallus:
Also, widen your stops

Quote from x-or:
If you want some winners, use larger stops.

At least three people in the same thread talk about widening stops. I thought the whole point was to cut losing trades short. Am I misunderstanding something?