I want to ask few people. How many people have lost during starting of there trading? And have you later been able to recover your losses? If yes, how and say when did you come back in to trading again after your loss? What did you do during the period of your loss.. ? collecting money ? or reading and buying more books? Share your experience.. Please be truth.. thanks
if you use the search button, you can find this out many many people lost and came back many many many many people, lost and never came back some read books, some work, some do drugs use your imagination people do everything
I lost 20k in my first 6 months, 35k in my first year. I suppose many would have given up, but I got pissed. But more importantly, I got disciplined and I learned to not hold on to bad trades. I got my 35k back within the next 6 months. Since then I haven't had a negative month.
Hey buddy. So when you lost those money.. After how many weeks/months you came back.. What did you do during that time of being pissed.? Studying books.. or practicing in demo?
It took me about 6 months to get it back. During that time (and actually while I was losing money), I read quite a few books and spent a lot of time researching on the internet. I decided to focus on just a couple of markets and concentrate on just a few setups. I am by no means a big time trader. It is more of a hobby. My main income is from several small businesses and apartment buildings that I own. My goals are modest. I try to extract $1000 a week from the markets and have had no problem doing just that over the past few years.
"In order to make great sums of money, you must first learn how to lose much smaller sums when you are wrong." - Paul Tudor Jones In other words, don't blow up.
When beginning everyone has lost at trading. It's what you do afterwards that determines your future success or not.
I lost about $50k in my first 2 years. I was just lucky I didn't give up my day job at the time. Despite what friends and family told me, I never gave up the belief that I would one day be profitable. Yes, I have recovered my losses. By ditching the indicators and every other piece of crap info I picked up from get rich quick seminars. Instead of trying to predict reversals and breakouts, I started waiting until they actually happened. I now rely solely on 2 setups, one for trending markets and one for reversals. One setup involves price action alone and the other I've incorporated volume. Cheers.