Confessions of a loser who need to quit

It sounds like you trade the ES or options. Its now time to stop that and join me in trading the Nasdaq transports on bullish breakouts. Small cap depressed trucking firms and dry bulkers.

 

The problem I have is coming up with the %. I just assume that the market is like a coin-flip (either go up or down) and use 50% as my probability. I know this is an optimistic percentage, because of all the manipulation going on in the market.

If 50% of my trades are profitable, I would be a happy person.

 

reg. #4: How do you know it's the right system? Is it making you money? No? Then obviously it's not the right system.

 

I am actually trading the forex.

 

Those are the exact questions I am asking myself when I see all three of my trades in red today.

 

Thats why. Forex is a fool's game. Who on ET is successful at trading FOREX? If 100 guys can't make it in forex, then how can you? Some games of chance are simply fool's games and that is forex.

The most successful traders here wait for good setups and then execute.

 

Sir

Btw not picking on you – but….

If you need to quit trading – why haven’t you

Possibly for the same reason you don’t have it figured out…. And I would conjecture quite possibly


Food for thought Sir


Regards

RN

 

% win is unimportant alone. It means nothing without the Avg Profit and avg Loss.

Most winning trading systems average 40 - 45% winning trades. If average profit is large enough, it's perfect.

 

Yeah rarely if ever do you see anyone write that they make good money just in forex as their main instrument.
They always seem to bring up one of their buddies who does.


I just never could get into it myself. I tried it out a couple times just in simulation and would just go right back to futures or equities in a few minutes.

And i just have one thought to throw out there....why aren't option credit spreads more popular?
I usually only buy them a week before expiration and in a couple of months I've only been stopped out once since I'm usually pretty conservative with my strikes but i got greedy that time and tried to pick a direction.

Maybe everyone is buying them and they're so unsexy people don't even mention 'em but they're the most consistent money I've ever made in the market.

 

Trading, especially discretionary trading, requires a touch character. I never heard of any whining person became a successful trader later on. There is no crying shoulders.
Does anyone know any exception?