Announcement

Collapse
No announcement yet.

Losing Money Trading Day After Day

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • #16
    Originally posted by stevet4414
    Yikes, this sounds like me!
    Tru dat Bruh

    Comment


    • #17
      Have you guys tried journaling your trades and your thesis behind taking them? This could be a good place to start.

      Comment


      • #18
        db46 I have tried in the past, but now I have more knowledge I may get more insight from this.

        Comment


        • #19
          I don't feel shame to accept that despite all my effort to learn i am consistency losing money currently i am in 90% of trading group who lose money hope one day will switch my self to 10% winner group.

          Comment


          • #20
            I was reading a whilst back about actively trying to loose as many trades as possible. I think this would be an interesting experiment.

            Comment


            • #21
              Originally posted by GrazyTrader View Post
              I was reading a whilst back about actively trying to loose as many trades as possible. I think this would be an interesting experiment.
              Have you tried it ?
              Some body here in India asked the broker to to give a feature in their trading system that when they buy it will be executed as a sell order and vice versa.
              But I doubt how good the outcome will be. Trading is far more than just finding a good entry. I read somewhere " Market structure is the king and money management is the queen"
              What I learnt from my experience
              1. We should be patient and should not operate under fear and greed.
              2. We should categorise ourself based on our risk appetite , what kind of trader we are ? Scalper, day trader, swing trader etc.
              3. Not every day is a trading day(If we trade one or two instruments), we should avoid those days.
              4. In a good trading day exploiting every single oppertunity to make money.
              5. Last but not the least, buy low and sell high.
              The last concept is heard so much that we take it for granted. But I learnt a hard way that, this is the single most important concept of trading.

              Comment


              • #22
                Originally posted by siba View Post
                Have you tried it ?
                Some body here in India asked the broker to to give a feature in their trading system that when they buy it will be executed as a sell order and vice versa.
                But I doubt how good the outcome will be. Trading is far more than just finding a good entry. I read somewhere " Market structure is the king and money management is the queen"
                What I learnt from my experience
                1. We should be patient and should not operate under fear and greed.
                2. We should categorise ourself based on our risk appetite , what kind of trader we are ? Scalper, day trader, swing trader etc.
                3. Not every day is a trading day(If we trade one or two instruments), we should avoid those days.
                4. In a good trading day exploiting every single oppertunity to make money.
                5. Last but not the least, buy low and sell high.
                The last concept is heard so much that we take it for granted. But I learnt a hard way that, this is the single most important concept of trading.
                I haven't tried it yet, but I will try it on demo as an experiment. Maybe I could program one as an EA but take the sell as opposed to buy and then see the results...

                Comment


                • #23
                  I would recommend that beginning traders do not start with the Forex market as it is the least transparent and thus most unpredictable of all markets.

                  Comment


                  • #24
                    Originally posted by siba View Post
                    Have you tried it ?

                    " Market structure is the king and money management is the queen"

                    3. Not every day is a trading day(If we trade one or two instruments), we should avoid those days.
                    4. In a good trading day exploiting every single oppertunity to make money.

                    Money management is the key. You can take a mediocre system and still make money from it with if you apply position sizing / money management techniques that were popularized in the trading world by Vap Tharp and Ralph Vince.
                    I read Van Tharp's Definative guide to position sizing (2008) years ago and havent looked back.
                    There is a 2013 updated version I have been looking around for, contains a few new chapters and a bunch more systems to overlay on top of your trading.

                    The way I look at the "not every day is a trading day" thing. Yes you can only trade if there is a trade you can identify. So indeed it may not be a trading day in any one market or timeframe
                    I just go and look at more markets or timeframes to look for a trade.


                    My old mentor was asked once what is his target (in a trade) he laughed and said as much as the market can give him. Thats about managing a trade exit and letting the trade close itself out rather than an arbitrary
                    exit, say 30 pips.
                    High Probability Trading Strategies by Robert Miner is another book teaches you about multiple timeframes and trade management.

                    M

                    Comment


                    • #25
                      i will also suggest to have a trading plan and follow it without greed or fear. I experienced greed this week . I mostly trade in options at this time and i had option spread in AYX which i bought for $200 per contract. It was in profit of $250 per contract (more than double) but i got greedy and kept it instead of closing for profit. On Thursday, AYX announced earnings after hours and stock dropped by 25%. My greed cost me almost $450 per contract (Original price of $200 + $250 profit) and not spread is worthless.

                      So have a trading plan and follow it strictly

                      Comment


                      • #26
                        Thanks for sharing your experience. I have also experienced that whenever we operate under fear and greed we tend to deviate from our original plan.
                        Introspecting the emotional state of mind is very essential in trading. It is some time is very hard to control the greed and fear. I think expertise comes over time if we try our best to control it.

                        Comment


                        • #27
                          I am not one of them. But to make it you need years and years of dedication and you need to establish the right process...

                          Comment


                          • #28
                            Need consistent effort to make consistent result..

                            Comment


                            • #29
                              Originally posted by ramanattar View Post
                              Need consistent effort to make consistent result..
                              Can't agree more...

                              Comment


                              • #30
                                During my initial years, I lost more than my yearly income due to poor psychology and system hopping. I consider those losses as tuition paid to the market for some valuable lessons. Learn to detach yourself from profit/losses and focus on trade execution and management and improve gradually.

                                Comment

                                Top Active Users

                                Collapse

                                There are no top active users.
                                Working...
                                X