If you keep losing money, how do you do the opposite?

Discussion in 'Psychology' started by opposite, Mar 24, 2008.

  1. Just the fact you are considering this says much about your trading ineptitude.

    This idea is usually arrived at by most neophyte traders.
     
    #31     Mar 28, 2008
  2. mokwit

    mokwit

    Taking low probability trades rather than sitting tight for the high probability trades?, too tight stops, stopping yourself out rather than allowing the trade to breathe ie not accepting it is routine for the trade to go negative around the entry?
     
    #32     Mar 28, 2008
  3. The first thing you have to do is loss those market orders those are just a license to steal, I can't tell you how many brutlly bad fills I got using them in my early days. I mean you're down 5 or 6 cents before you even start your trade, use limit's when ever you can. Next if your trading CROX, AMZN, & WM pay close attention to the bid / ask spreads, if it's more than 2 or 3 cents stay away you'll get wacked. You combine a 5 or 6 cent spread with a market order you better hang onto you're wallet. Just my 2 cents
     
    #33     Mar 28, 2008
  4. ammo

    ammo

    he's pullin your leg
     
    #34     Mar 28, 2008
  5. In the pit, I've always tried to identify a newbie loser, and fade his bids and offers. The real trick is to identify a loser, which takes some talent in itself. One can get a good net return finding the right loser or combinations of losers.
    J
     
    #35     Mar 28, 2008
  6. Don't give up so easily. I know how you feel. I have been losing money continuously for the past 1-2 months and I felt the same way you did. But there's always hope. All it takes is one good day. I had a day (this past Tuesday) where I gained back half of all those losses in one day. It got me on a roll and gave me confidence and I had a stellar week even after that. Theres always hope and all it may take to get you back on track is one good trade.

    Keep your head up, learn from the mistakes you made thus far, and get your ass back out there.
     
    #36     Mar 28, 2008