Well Oddtrader do you read every such awful and unnecessary mess with pleasure? I don't. Its an addiction. It is also a question of the culprits facing up to the self damage & presumably damage to their families of such irresponsibility when clearly so many are not suited to the art of taking money out of the markets as a professional activity.
Once again... cheese tells it like it is. Most "traders" do not have the talent nor background to succeed... Not even remotely close. If that is you... Then you are ** EXACTLY ** the dreamer the Securities Industry is looking for. They will teach everything to need to know... In order to become a degenerate gambler... And methodically transfer your wealth to the Securities Industry. If you do not understand this going in... then you need a course in Life 101.
I disagree. The most successful traders I know despise risk and realize that they can make excellent returns while maintaining tight risk control. Non-risk-adverse traders are blowouts waiting to happen.
HappGo- Have you given any thought to the fact that you may be an addict? That no matter what hapens you'll always find a way to empty your account? I'm not trying to be rude here, but even the verbage in your post and replies suggest this may be at least partly to blame. B
Ripley, Why are you posting this? I have been reading your posts for quite some time and I cannot understand for the life of me why you even post at all. You have little confidence in yourself, your strategy - let alone YOU ADMIT on a regular basis that its impossible to take money from the markets. Do you realize that you constantly reinforce negativity into yourself and you DWELL on failure? Snap out of it, get some counseling and move on... the markets are not going to give you anything other than pain and frustration until you drastically change your thinking. The OP has a problem most likely very similar to yours. Both of you need to destroy these illusions you have. With respect to your comment on Risk/Reward in futures trading, you are wrong and I can prove it. Lets just leave it at that. Mike P.S. Ripley, I recommend that until you figure yourself out and, how exactly you plan to participate successfully in the markets, you stop posting.
Sorry if someone already mentioned this, I didn't have the energy to read the entire thread after reading your REALLY LONG original post. Ha. But I think that not using stop orders and adding to a losing position just really doesn't work and is a guaranteed way to mostly sooner, but at least later, way to blow out your account. Hey dude, you need to learn to take a small loss when the market goes against you. This is mandatory and part of the game. Yes sometimes you can bail yourself out by adding to a losing position, but this is for the most part a bad strategy, or at least if you don't have a stop on your added position. Gee this verbosity thing is contagious I guess. Ha.
I know you did and I didn't mean to be an asshole, so don't take it that way (I apologize if thats how it came across). It just sounds to me like you are having a very hard time and it might do you some good to get away from trading, online forums, anything market related, etc etc.. for a while. Good Luck, Mike