Your most valuable lesson
- Thread starter John9999
- Start date
My reply was meant to OP specific question in regard to trading only.If you quit there is nothing do learn.
Do you still ponder things like risk management?
The under 40 know everything. Yeah in their own mind... lol
idea behind cutting loss short:
let's assume one has 100$ in his account.
1) scenario #1: if he lost $8 ~ -8% of his money, then he'd need to make ~8.7% in the next trade to break even.
.....
n) scenario #n: if he lost 20$ ~ -20% of his money, then he'd need to make +25% in the next trade to break even. (because he had less money to trade with).
let's assume one has 100$ in his account.
1) scenario #1: if he lost $8 ~ -8% of his money, then he'd need to make ~8.7% in the next trade to break even.
.....
n) scenario #n: if he lost 20$ ~ -20% of his money, then he'd need to make +25% in the next trade to break even. (because he had less money to trade with).
Well maybe not everything. But at the very least I feel pretty confident that I know more about trading then a few over 40's or 50's ET members here.
Hehe
exactly, in your own mind i'm sure you do.
lol, now 40s above are worrying if you're really talking about them. 
When you're 40 and you'll see how stupid this statement is . You'd wish you shut up and listen ...