Why you suck at trading - Page 2
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Thread: Why you suck at trading

  1. #11
    Quote Originally Posted by ;
    about a month ago, I decided to become a participating member on this forum, instead of just an observer. I have gotten a good deal out of it so far, and I have appreciated to discussing the various aspects of trading in a fair and objective 36, many have been in general. However, of course I have noticed many. . .many many many.... Who are fighting, or just outright failing. And a few. Personally, I have managed to do this for a complete time income for several decades now, but...
    Sorry, I haven't read much of this thread (I'll do this when my time allows ) but I just needed to mention I LOVE the name of this one and I know that great things will come from it.

    Newbies and gurus alike, there's something for you here, since there is ALWAYS something to know... and the better way to learn than from your errors?

    PS: ForexTraderX, I think I speak for the community once I say we are happy to have you as a participating member of the forum. I myself have done exactly the exact same thing and found that the exposure can help expedite your learning curve.

  2. #12
    I'd love to share why I SUCK at trading...

    It's fairly simple, really.

    I've an AWESOME system, but I cannot follow it (consistently)... even after years of experience.

    When I do make a good trade, it's usually just a matter of time before I give it back.

    My subject is practically non-existent.

    For example, I left 1,800% a couple of weeks ago (in 48 hours), then proceeded to lose it all. I dropped that too, and left 600% the next day.

    So now I Need to Begin all over again... ahhhh, the joys of trading

  3. #13
    Quote Originally Posted by ;
    . For instance, I made 1,800% a couple of weeks ago (in 48 hours), then proceeded to lose it all. Then I made 600 and dropped that too. So now I have to start all over again... ahhhh, the joys of trading
    May I humbly suggest.... If you created 1800% in 48 hours perhaps your lot size is too high
    or your own expectations are.
    So.... If you created (even) 600 percent in one day then can you expect to be able to continue that accomplishment.

    Realistically, can you double your account every couple of days? In the event that you had a 500k account could
    you even attempt it?
    Just food for thought

    Got'ta go


  4. #14
    Quote Originally Posted by ;
    Can I humbly suggest.... If you created 1800% in 48 hours maybe your lot size is too high or your expectations are. So.... If you created (even) 600 percent in 1 day then can you expect to have the ability to continue that accomplishment. Realistically, can you double your account every couple of days? In case you had a 500k account could you even attempt it? Just food for thought Got'ta go finest
    Hello Slim Buffett,

    Thank you for the reply and apologies for the delayed one. I enjoy your article a lot and I am happy that somebody has the smarts to ask these questions, since they are important. So here is my answer.

    I should note that I am a highly competitive trader (daytrader). My expectations are incredibly high since I know that I have an extremely good system (method), so good in actuality, that I am still trying to make the most of it's full potential -- after about 3 - 5 decades of experience. It is so I fall prey to human error like excessive fear or greed and/or not having sufficient patience, just like any other trader. But the system works really well (much better than I am able to exchange it), and I am trying to enhance these traits so that I can make the most of my own system to the fullest, and... all of these are reasons why I'd also like to automate my system.

    So, given that I am a very competitive trader, with a very good system, and quite substantial expectations, then yes, I really do feel comfy doubling my account every so often. But you have to know -- because I am sure you do -- that comes with additional risk. I say every so often as, obviously, the more capital you are trading with, the harder it's to double your money. And I understand that's exactly. I know there and also have given it plenty of thought, and I guess I'd say that my expectations would need to change to the dimensions of my account.

    Right now, my account is really small, so I am definitely comfortable trying to double my account in a few hours, a day, or per week -- depending on my degree of confidence in the underlying move. The 1,800% that I made was on an original balance of ~$100, so doubling $100 within an hour isn't a problem since I (generally ) commerce hourly expirations. Doubling $200 within one hour no issue. Doubling $1k within one hour can certainly be done, but I'd begin to get nervous. When the digits change from 3 to 4 (ie: $999 to $1,000), I begin to become more worried because more is at risk and to compensate for that risk, I usually push out the time/expiration, which gives me greater confidence in the trade, but reduces the ROI over a specified period of time.

    I have made 600 percent in 1 day (really, lots more), but as I have stated, it had been on a small account, so it's somewhat simpler to perform. To answer your question though -- and due to my very substantial expectations -- I'd absolutely attempt to double my account with $500k... or $1 million... or even $50 million to that matter... it's only that I'd do it at a more conservative manner (either by not carrying all of the risk simultaneously, or by pushing the risk further out in time). I am so competitive it is in my nature to want to double the account, regardless of size. I know that the more success you have, the harder it's, but hell, that won't stop me. I'd love to make the 100 richest people in the world one day's list. Not kidding.

    If George Soros can take action and supposedly break the Bank of England at one exchange, than I am confident I will do it too... one day... soon.

    Finally, I will just state that, ironically, I lost the original 1,800% that I made. Because of extremely poor cash management (I needed yet another double, and I had also had a couple too many drinks, lol). But I deposited ~50 one longer (I don't remember the exact amount, I believe I had a balance of approximately $75), then got it down to my final $40 USD. At that stage, I had been pissed for creating so many stupid mistakes in a row, and I said to myself this is it, I am not likely to be stupid anymore, and from there on I turned the last $40 of my deposit into a current balance of $1,500. And I did that in only 3 times (this past week, from Sun - Wed, didn't trade because then bc I had been overly tired), so that is a 3,300% yield I made in only 3 times, which beats my 600 percent and 1,800% I did a couple weeks ago. So I know I am capable of huuuuuuge yields IF ONLY I will find the discipline in place, which I am working on and will get it done.

    But again, I am not oblivious to this fact that larger quantities of capital demands smaller yields OR more time... and that's so significant it's worth reiterating. I will work to double my money but the manner in which I intend to do so will be a reflection of my account balance. I hope that makes sense.

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