If you use stop losses then you are essentially gambling

Discussion in 'Trading' started by wxytrader, Feb 15, 2024.

  1. wxytrader

    wxytrader

    Then you are day trading...you have much bigger problems to deal with than stop losses. The only thing that separates trading from gambling is with gambling you have to realize losses ..with trading you don't...unless you use stop losses. Thus the comparison.
     
    #11     Feb 15, 2024
  2. Thank you murray t turtle for the response.

    I would like to hear what @wxytrader have to say to the questions as well.
     
    #12     Feb 15, 2024
    murray t turtle likes this.
  3. %%
    I use stops , but I dont gamble;
    as far as business goes/ no such thing as business with out losses[expences LOL.]
    Dave ramsey limits his losses ;
    1]mainly with REALOR liscense + lots of buys LOL
    2]He limits dumb stuff by not ignoring his wife 'her feelings-in tuition on that home turned out to be a nightmare loss.......................''
    3]diversification time , in stock market
    4-9] 5 fund types
    10]Radio business
    11] promotion disclosed with his ELP endorsement
    12]Stays away from cons mostly LOL:D:D
    13]Book royalties
    14 ]Self published books
    15]Some SPY
    16] Limits loses with no e debt\leverage , never....................
     
    #13     Feb 15, 2024
  4. wxytrader

    wxytrader

    Averaging down is essentially like having a dynamic stop price. But instead of actually getting stopped out of the trade you just keep reducing your break even which is ultimately what every stop loss wishes to achieve...to stop out at a break even.
     
    #14     Feb 15, 2024
    MarkBrown and SimpleMeLike like this.
  5. ZBZB

    ZBZB

    But you didn’t!.
     
    #15     Feb 15, 2024
    taowave likes this.
  6. deaddog

    deaddog

    But I'm not day trading, I'm swing/position trading.
    And there are times that you have to realize losses when you are stock trading.
    A company goes bankrupt. (Enron)
    A company drops in price and gets bought out in an all cash deal.
    A company gets taken private.
    Not to mention the company that drops in price and stays there. Ties up your capital for years.
    You can't tell me what your portfolio will be worth tomorrow or at anytime in the future.
    You are letting the market control your investments rather than having control yourself.
     
    #16     Feb 15, 2024
  7. wxytrader

    wxytrader

    Competitions don't attract the most talented competitors, they attract people who want to be known as the most talented competitors.
     
    #17     Feb 15, 2024
    SimpleMeLike likes this.
  8. deaddog

    deaddog

    Where do you get the money to average down?
    Where would you be if you averaged down on a stock like enron?
     
    #18     Feb 15, 2024
    VPhantom and smallfil like this.
  9. Hello wxytrader,

    Thank you for response. I agree your statement and respect your style of trading.
     
    #19     Feb 15, 2024
    wxytrader likes this.
  10. wxytrader

    wxytrader

    The only thing you control in the market is your risk exposure.
     
    #20     Feb 15, 2024