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How many times you burned your account before becoming profitable? You do not have permission to vote on this poll.
Never, I earned my bread and butter from the first deposit	30	27.27%
Once, and I learned a lot from it.	12	10.91%
Twice, you know, sh*t happens. But that was all.	20	18.18%
A lot.	48	43.64%
Total:	110 votes	100%

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SimpleTrades

Registered: Feb 2011
Posts: 1264

02-19-12 04:33 PM

@HateTheRisk

Lol! My goals aren't as lofty as 40 million francs. I'll settle for a few million Canadian dollars. The government can take their share in taxes, and I'll live happily ever recovering my skills on my violin, and caring for my wife, and my baby due in July.

But yes, using leverage as a way to control risk is very effective. Consider the $100,000 example again. Assume on any given trade you're willing lose 3%. So, deposit 97,000 in a savings account. Put 3,000 in a trading account and leverage it 33.33 to 1. Buying power is still $100,000, but the most you'll lose is the $3000.

Don't curse your broker's margin calls. Exploit it. Use it to your advantage.

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cyoungmark

Registered: Dec 2010
Posts: 213

02-19-12 06:51 PM

Quote from bhardy307:

"real money"? Another SIM trader? I'm sorry, but I simply don't agree. The psycholgy of trading a SIM account and real money is completely different. How much have I lost since this proces began about a year ago? About $1000.

You make a good point about using leverage properly. Your argument about the psychology of trading real money is flawed though. With a $100 you have MUCH less fear with trading even IF it controls a leveraged amount. I guarantee no matter how much you trade this $100 and get comfortable with your strategy, you will still have anxiety trading any substantial amount of money in the future.

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sheda

Registered: Apr 2011
Posts: 621

02-19-12 06:57 PM

I guarantee no matter how much you trade this $100 and get comfortable with your strategy, you will still have anxiety trading any substantial amount of money in the future.

Naturaly, but its just another step in the individuals path to be over come...

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rtiger29

Registered: Jun 2010
Posts: 158

02-19-12 07:39 PM

Quote from sheda:

Naturaly, but its just another step in the individuals path to be over come...

I agree a 100%. Its another step and that obstacle too will be broken, if you can get to that point, then im sure it will be no issue to knock that wall down.

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Bear Trader

Registered: Aug 2011
Posts: 26

02-19-12 08:19 PM

Quote from HATEtheRisk:

once you have 100k you can play slower and make 10-30% a week as goal.

[/B]

lol! 30% a week is slower?

Only on ET do we have the best traders in the world

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Bear Trader

Registered: Aug 2011
Posts: 26

02-19-12 08:26 PM

Its all about MM

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