I'mhaving a serious problem keeping my profits

Discussion in 'Trading' started by Kovacs, Aug 21, 2007.

  1. teun

    teun

    #41     Sep 16, 2007
  2. Aisone

    Aisone

    I'm glad others see the sense in this.

    There are lots of benefits to this but for me its that I always trade wiser when I have a smaller account and can't afford losses. The 'back against the wall' feeling is a good thing imo.

    Immediately removing profits also supports maintaining supplemental liquidity should a trading disaster strike.

    Interactive Brokers makes it especially easy with only a $1 ach transfer out fee, and wires in are usually credited within 30 minutes of receipt, if not immediately.
     
    #42     Sep 16, 2007
  3. JSSPMK

    JSSPMK

    How can that be right? What if your entries keep putting you in almost immediate DD or are you referring to money management being more important than entries? I suppose the only way that would be correct is when profit targets by far outstrip losses ie catching a weekly chart's turn off a 5 minute chart, then I agree with you that exits (money management) are more important than entries.

    I scalp FDAX and I rely on seeking good entries, at times exceptionally good entries where DD is almost nonexistent. So fot me entries are vital as profit targets on most occasions are around 4:1 reward vs risk, otherwise I end up trading at a loss or breakeven at best (which is also Net negative).

    Just 2c :)
     
    #43     Sep 16, 2007
  4. Cy_M

    Cy_M

    You are at a very dangerous stage of your trading career.
    You seem to be at the very early stages of finding an edge, which is what causes the accidental gains.
    This is just fine, with the exception that now you need staying power to see you through maturing your edge into full development.
    You only have one way just 1 to achieve that. Must reduce your account size to a bear minimum that would allow you to continue trading the absolute Min. lot size, hence this will take you to an stage of maturity whereby you would recognize that an entry signal without a predefined exit will never lead to success.

    Cy
     
    #44     Sep 16, 2007
  5. Many traders investors, scalpers enter a trade with a good strategy to make profits and most often show unrealized open profits... the winners have a stratedgy to take money from the markets and that involves a good exit strategy.
     
    #45     Sep 16, 2007

  6. that's pure luck because that's risky (and 70000$ !!!). never short a stock that's on a bubble trend.
     
    #46     Sep 16, 2007
  7. DrEvil

    DrEvil


    Yep agree with that. I think it was Jessie Livermore himself that said, the first and last few cents (points) on a trade are the most expensive ... be happy with the meat in the middle!

    good luck
     
    #47     Sep 16, 2007
  8. yaaaaawn
     
    #48     Sep 16, 2007
  9. Wh

    Of your 3300+ posts how many have the value of your last one? Why bother...just to increase your posts I guess!
     
    #49     Sep 16, 2007