TruthSeeker, You are completely wrong. The right "BALLS" are developed from experience, It means they know whats going to happen, they bet big because they are 99% sure it will work to their advantage/way because they've seen it <b>hundreds of times.</b> The WRONG balls are developed from complete ignorance, Its like a baby who touches a stove , its not because he has courage, its because he does not know better. Would you touch a stove? No. Would a baby touch a stove? YES. Does a baby have bigger balls then you? ---- NO----- Please do not confuse the two.
Well, you just have everything figured out don't you.... I especially love the "I will survive even if I lose my remaining capital. Whereas someone like you would throw in the towel and give up, I will persist until I am successful." I'd love to know how you are better than everyone on this board? Trying to talk yourself into self confidence? Yet you are scared..... I feel bad for you man, your going to go broke, lose it all, chances are, will be gambling forever. It's sad.... but you just are not objective enough to understand what people are telling you. You are better than everyone else in the world in your mind, again, that is why you will fail. Because you are not, and you can't accept being wrong. You were even RIGHT, that you lost all your money? lol, you are right no matter what you do. QUESTION: What market experience do you have to give realistic and objective views of how the market should be played? You blew out your account, and now you are destined to be a millionaire?? BS..
Truthseeker - The "know-how" to your trading (and everyone else's) is position sizing, risk management etc. You're doing a great job convincing yourself you'll be a success with the trading plan (or lack thereof) that you have. One day you'll be broke and realize yeah these guys were right.
Seriously though... I love how this guy KNOW'S exactly what he is supposed to do to be a great trader......... yet he has yet to be a "trader" He knows exactly what he needs to do, yet he has done none of it, and insists on trading 6 contacts. He repeatedly defends criticism, that he knows he should accept, but then calls other more experienced traders failures and that he will be around longer than they? That's called not respecting the more experienced traders around you. You can't even handle a little criticms. In a few minutes your going to reply to this, whining like a little girl, about how you are a great trader, and how you know this or that and this BS and that BS. Then your going to say... "Oh, you don't know anything about being a trader, I'm better than you... you only paper trade" all that other BS... just to try to make yourself feel bigger than everyone else around you. It's not going to work buddy. The more you lie to yourself, say things you don't mean, and try to defend your stupidity, the more you hurt yourself. But, even you are not smart enough to realize this..... but I'm sure in a few moments you claim you will.. It's a repeating process.... just like your losses... they will keep repeating, and get bigger and bigger. NONE of this would be taking place, not 10 pages of posts, if you would have just handled critcism and thought a little before you have typed stupid crap. But you can't... YOU CAN'T DO IT. YET, you claim you can. You have not proven to anyone you can.
I'm sorry my friend but you are completely wrong here. Not even the smartest professional trader in the world "knows" what is going to happen. Every trader on the planet is placing a bet based on his/her ideas or on a proprietary model of market behaviour. There is no trader on the face of the planet who is always right. No one "knows" anything....not even the professionals. We, as traders, are placing bets based on our interpretations of what is going on in the market. Now what I was saying is that you can know everything about the markets and if you are too scared to execute trades, your knowledge proves itself useless. If you are not scared to execute trades and you know nothing about the market at least you are in the game; at least you are in it and can possibly win it! I don't see how you can disagree with that but I'm sure you will...lol.. nonetheless, thanks for your input.
He has nothing but answers. But okay Truth... What is your magical system that is going to make you all your money back? Since you got all the answers, and you know exactly what to do and why you screwed up. Explain to ET, why you are going to make your money back? Anything other than "I will never give up!" Truth, you are always right.... the rest of us here on ET.... are always wrong in your mind. ??? TRUTH... DO YOU WANT TO KNOW THE REAL TRUTH???? .. ... .. YOU CAN'T HANDLE THE TRUTH!!!!! *Now that is funny....*
truthseeker, Having persistence and courage isn't necessarily going to mean you will succeed. There have been many many people who had the courage to make the trade and never amount to anything. THere is a common theme with these folks - they don't try to learn. You are right, you got to risk in order to gain the reward. But you also got to know what you are doing. Obviously you weren't very good at the 30 year market, and without even finding that out, you went to your max leverage immediately. Do you find that to be a problem? It would be different if you've been trading that market for a long time, and you were good at it and all of a sudden decided to swing for the fences and were wrong. That is a mistake in itself, but that doesn't mean you will fail, so long as you learned from the experience and understand that in order to succeed at the game, you must remain in play - when you swing for the fences, you can get struck out. When it's all said and done, you got to become more humble and listen to some of these people. They are trying to help you and all you are doing is being dismissive and letting your ego take over. Keep that ego at the door. Also: You career is not over because you haven't started it. You've got to learn what it takes to succeed and succeed at it before you call it a career.
But these guys are not real traders. One guy here is sitting on 200k too scared to trade. The other is probably still in high school and like to watch the markets and has the gall to offer me advice and, even further, to criticize what I've done with my account? scalping for pennies is not the kind of trader I am. I look for significant moves in teh markets otherwise I'm wasting my time. These guys are clearly not my equals. At this juncture, it would appear that I may soon be broke. However, do you honestly believe that I'll look back and say that I should have listened to Mowery and TraderDragon? I know what my pitfalls in trading are and am working on fixing them. It doesn't matter that perhaps most people believe I will fail as a trader because I know that most people attempt to put themselves in my shoes and decide "if it were me, there'd be no hope....i'd be so devastated....i would just give up the business entirely...." And I'm not doubting that most traders in my position would in fact throw in teh towel, give up, and never look at the markets again for hte rest of their lives. But I am not most people. I persist at every bump in my road to success. Let me reiterate, I do not say I will make it big because I have lost a lot of money. I say I will make it as a trader because I don't anticipate ever throwing in the towel. If I'm 60 years old and still struggling to understand the markets I will still have this same attitude. This attitude is who I am and that will never change. I will spend my whole life trying to understand how to successfully trade the markets. The end goal is consistent profitability, not necessarily unimaginable riches. One point of advice I'd give to both Mowery and TraderDragon: You can't read this stuff in books.
well Truth, I am a real trader, go look for my post as I recently posted an outrageous trade and am currently on an outrageous trade (for everyone else). I am echoing the same sentiment that everyone else is saying, so you probably should try to keep an open mind.
I do have all the answers. The answers are all inside of me I just have to look inside, pull them out and put htem to use. I know what my problem is: I fail to cut losses short. I made progress on that today and did quite well. I cut a loss at $125 and let a profit ride for $800. Every day will be a struggle since I am essentially trading on the brink here. I wish you much luck in your endeavors. I do hope that you start delving more deeply into trading; that you start to put some of your money at risk so you can know what it really means to be a trader. Your strategy of scalping for pennies is not recommended. You will take many small profits and then a single, unavoidable, loss will take away all your profits. This will happen time and time again. One thing I could never understand about an old college buddy of mine who trades spreads; he risks 1 point in the spread to make 1/4 ( a point is $62.50 so a quarter point is $15.625). That is a recipe for disaster, as far as I am concerned. If you take a 1 point loss, your average profit should be at least 1 1/2 points. Because otherwise you have to be right about 7 times out of 10. This is not a task easily accomplished even for professionals. Whatever you think about me and my style of trading, realize that every trader has his/her own method for trading the markets. My flaws lie in my failure to cut losses very short. It is very complicated because my initial entry points are very rarely right on target (in other words, I rarely show a profit right away in a trade). So I need to trade small size so that there is a bit of wiggle room allowing for my 1/2 tick or tick error in price. Thanks