I would agree that preservation of capital is very important, in fact its always been my primary goal. I know that if I go broke, I aint coming back. But, you need to trade to win, or not trade at all. Too many people worry about the loss of every penny and they end up never making any gains because of it.
well you have several options: 1) Quit trading, get all your money in cash, and stack it under your mattress or get a safe and put it in there. 2) Put all in FDIC insured account (including CD) 3) Find some fixed income fund or Cap Pres fund. Trading ain't for you if you can't afford to loose. This is all about risk and rewards, if you want $10 reward, you must be willing to loose $10. SIMPLE!!!
like any business, if you aren't making any money why are you wasting your time..either change your business plan (trading plan) or quit. most are on borrowed money. so what is their to keep. not all traders trade the same.
As simplistic as it sounds, the secret to trading is not taking big losses. I used to instruct financial seminars and I always told everyone to not be so concerned about achieving x amount of profits on each trade, but rather, ask yourself, "how much can I lose on this trade." The making money part will take care of itself (if you're reading your charts correctly, etc...) as long as you pre-define the maximum amount you will lose on every trade. For me, that's what caused me to be more consistently profitable. I went from obsessing to making x per trade, to focusing on how much could I lose on the trade. If you consider that, you will also take fewer, more suspect trades.
"and I'm going to have to do something that you're probably not going to like, but it's for my own well being....Guys, this thread is again trying to be attacked by BNB Bashers. Whoever starts bashing me again is getting complained on." BnB If you stop making yourself into a target, those big bullies might not pick on you as much.
If i remember your previous posts, you said you traded something like 3 e mini lots on a 1500$ account... That's not a way to keep money. What you have to do with such a little account is to papertrade 'til you have a real rewarding method, and then trade mini 1$ forex lot... Seriously you can't trade regular lots with that.
From Alexander Elder: The three goals of trading, in order of importance: 1. Preserve your capital 2. Earn consistent returns 3. Earn large returns I think that is what you are trying to say. If you don't want to lose any money, then you shouldn't trade.