Yes yes many here have said it before.. not quite sure why we're all wasting time on this thread but it's like a bad trainwreck.. can't help but watch him crash and burn Anyhow, Mr. Double.. I think you should do well to memorize this chart: Loss of capital (%) Gain to recover (%) 5 5.3 10 11.1 15 17.6 20 25.0 25 33.3 30 42.9 35 53.8 40 66.7 45 81.8 50 100.0 55 122.0 60 150.0 It is apparent that you have a serious lack of the concepts of <b>expectation, risk/reward, and money management</b>. You cut your winners and refuse to close out your losers, allowing them to increase until you get a margin call and are forced out. As such, your risk/reward ratio is HORRIBLE. For all of your 'small' wins, a few losers that you have let run will destroy you. Also, even though this is a fake account, your increasing your position size when you are down in hopes of 'making it all back' with a few hits shows that you have a lack of self control as well. Since you have negative expectation, it will be only a matter of time until your account blows up as it has so many times. I don't say this to insult you, although it is likely that you will take it this way, but to point out the flaws you have exhibited in your postings. If you're serious about your trading you will learn about these topics.. otherwise you might as well hit Vegas... you'll get free food with comps at least while you're losing your money.
Ya know, I wonder why I come to thread's like this. Part amusement, I guess. But then I get nuggets like tireq's post. Speaking on behalf of us Neophytes, thank you for your trading wisdom, your efforts do not go unnoticed. Gracias.
We actually need Journals like this. Mr. Double's toughness and willingness to share, has done a great service to the community. There are thousands reading these archives and many people will be helped from this journal. The moderator has wisely let the Journal run and I do not speak for him, but this sort of stuff is needed in ET. IMHO. As traders new and old try to find their way, they can see another traders journey which will help them find their way. If you find your way from the negative side then so be it...everybody is different. We are not all "Elite". Michael B.
Without question - reading this thread is an educational cautionary tale of EXACTLY what not to do. Classic expamples of over-trading (aka gambling) when a system obviously has not be developed (either fully or at all). Even sadder is that I can see myself in Mr. double's shoes (20 years ago), not to mention most newbie traders out there who are "different" than everyone else.