I Discovered the Reason I Lose Money Trading.

Discussion in 'Psychology' started by GotherL, Jun 13, 2020.

  1. Sekiyo

    Sekiyo

    It’s tough you’re right.
    Expensive and nerves triggering.
    In the end it’s all about rule #1 DO NOT LOSE MONEY
     
    #11     Jun 13, 2020
    Nobert likes this.
  2. Nobert

    Nobert

    In the end, it's not the genius who prevails, but the one, who has determination.

    Words down below, helped me once. Might give you some energy too.

    timestamped
     
    Last edited: Jun 13, 2020
    #12     Jun 13, 2020
    volpri and Sekiyo like this.
  3. VEGASDESERT

    VEGASDESERT

    pretty much thats all you need to know.

    you don't have a losing strategy because if you reversed your trades you'd be winning but
    thats not the case.

    basically you're trading 50/50 flipping coins and trading costs will slowly eat away.
     
    #13     Jun 13, 2020
  4. A brokerage with zero commissions would probably help you a lot. Day trading with commissions can feel like two steps forward and three steps back if you are making lots of small value trades.

    I have a lot more peace of mind when day trading. Will it gap down overnight? No worries. I sold all before end of trading. But some of my best wins were overnights, often seemingly improbable ones. I think I scored $2700 on BYND once, holding it til morning and selling pre-market against a huge spread, no less. I nailed TQQQ to the wall on an overnight. My biggest loss was a multi-week trade. It was a fine example of faith-based trading. IT WILL GO UP ANY DAY NOW. Instead....

    But yeah, day trades hinge on short moves and quick decisions and lots of them. It can be stressful sometimes, too. Sounds like a good idea to get out or mostly get out, for now. Easy enough to get back in, later, if you want. (Maybe too easy!)
     
    #14     Jun 13, 2020
  5. Tradex

    Tradex

    You need to test your trading ideas with historical data (charts) first, BEFORE you invest/trade 1 penny, otherwise you will fail 100% of the time, I can guarantee you that.

    And it does not matter if you are day-trading or swing trading, it won't make any difference, you have to find something that works first, the time frame (or holding period) is irrelevant here.
     
    #15     Jun 13, 2020
    lovethetrade likes this.
  6. Sekiyo

    Sekiyo

    Why the fake background ?
    346980F0-AAAE-45F0-91AD-66528FD1F34C.jpeg
     
    #16     Jun 13, 2020
  7. Thor

    Thor

    I went down the same road many years ago.
    My sincere suggestion - stop trading UNTIL you have a method that works.
     
    #17     Jun 13, 2020
    tomas262 and Tradex like this.
  8. Tradex

    Tradex

    Absolutely, when you KNOW that your system is profitable then trading become 1000 times easier.

    You now trade with total confidence, and more importantly, you stop worrying about the outcome of each trade.
     
    Last edited: Jun 13, 2020
    #18     Jun 13, 2020
    dennis86 likes this.
  9. destriero

    destriero

    God help us all if tradex finds a working system. We will never get rid of him.
     
    #19     Jun 13, 2020
    hilbilly and Heydrrich like this.
  10. Overnight

    Overnight

     
    #20     Jun 13, 2020