I'm not losing. So far I'm earning 42% annually. I've taken some hard shots, gotten some black eyes, and have scars to prove it, but I'm fighting hard and winning it back. Although about one-third of that was the lucky incident that I described above, the rest was analysis, hard work, and fighting spirit.
People relate wrong solutions/reasoning to their beliefs https://www.psychologytoday.com/blog/in-therapy/200907/the-definition-insanity-is
That luck incident soared account by 3% , yet returns are 42%? You should not be reversing , because this is a bull market and stock markets are well supported , even in time of crisis.Wrong strategy IMHO https://www.google.co.uk/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=MARKET+TIMING+FAILURE Analyze winning % on longs /shorts , if longs profits > than 60% of trades and luck 20 % , then skill % is low.Any monkey can make money in a bull market by going long.
I'm not losing. So far I'm earning 42% annually. ____________________________________________________________________________ I hope you realize that ranks you as one of the best traders on the planet as compared to the 5,000 or so CTA (managed futures & commodities) funds. Now add in you have linked a few years together that puts you in more like the top 1%, keep it up and you are sure to be featured in the next market wizards book. And your down on your trading mistakes, I need therapy after that read. My favorite market wizard I follow is up about 32% on the year - but he is considered to be one of the best of all times. I don't think he is feeling down on his results. The best trading season is Q4 - you may end up tacking on a lot more gains in the cumming months.
Yeah.. hope that it wasn't beginner's luck. I've only just started trading heavily. That's my earnings rate for the last three months, and I'm having a tougher time now.
Yeah.. hope that it was beginner's luck. I've only just started trading heavily. That's my earnings rate for the last three months, and I'm having a tougher time now. ____________________________________________________________________________ Pardon me for asking - just curious. What type of trading are you doing - like holding for the day, going overnight? And what are you trading? Stocks & ETFs? Alohaaaaaaaaaaaaaaa
whatever you do @kmiklas, don't listen to @Trading Education Buyer ... he doesn't know what he's talking about.
1a - crossing orders... yeah, happens sometimes... either move your buy/sell buttons or don't keep a buy and sell order pending in the same screen. 1b - hoping is usually no good... it basically means get out now. You'll feel relieved and better equiped emotionally to do the next trade. And don't think too much about what you would've earned if you kept it, because that's blablabla. Do what you mean to do, get out of the ones you didn't want in the first place 2 - opening trade.. could be fine to trade like that, but it's risk management and your exit strat what you need to think about. Especially if it goes against you... cut the loss... But openings can go either way IMO. 3 - reversing, hmm... that would mean you time your consecutive trades both at the right moment... better to finish the first trade because you made a nice profit and wait for another good opportunity. Re-evaluate and look for a new entry point. 4 - hmm... I sometimes gamble, but it is what it is... either a hit or a miss... just don't gamble with too much... 5 - luck, see the previous... don't start thinking you're brilliant for having a purely lucky trade. Look, everyone needs a bit of luck... but if it's pure luck you make a gain... slap yourself in the head and say "I'm an idiot.. a lucky idiot... but still an idiot!" And finally... why do people call it winning when they make money??? Please stop doing that asap. We all work hard to make money, using some kind of edge or whatever, but it's not like winning from a lottery/scratchy. That way you might stop looking at it as gambling and start thinking more positive/constructive.