Well, if you have any money left, for Christ sake, take it out and stop trading. The harsh truth is - and it shouldn't be a surprise - that every amateur who enters this business is merely gambling and have really no idea what they're doing. Some people may acquire bits and pieces and understand parts of the market, but they lack the complete understanding that's actually needed to be a consistent winner. Everyone underestimates what they're trying to do. They hear the statistics of failure, but everyone believes themselves to be special and smart. It also seems to be very common on ET to try learning the market by live trading, either in simulator or with live trading. The latter seeming to be most popular. In summary: Give up and do something else with your time and efforts. Invest your money in a passive fund instead.
Here is a post I posted on another thread that shows the pre-requisite for trading, should help all gamblers, I mean traders --------------------------------------------------------------------------------------------- You need to find setups that have positive expectancy. What does this mean ? It means that after you have OBJECTIVELY defined a setup, you study hundreds, preferably thousands of reocurrances and you extract their statistics. Which statistics? Things like ACCURACY, what is it's ratio of SUCCESS/FAILURE ratio, RISK, where does the STOP need to go for the setup to have failed, REWARD, how far does the setup run when it works. FREQUENCY, how often can you find the setup? Once you have computed all these stats into the expectancy formula, you need to factor in, commission, slippage and human/computers errors, if after this you still have positive expectancy and the frequency is acceptable you have found an edge. With such edge you risk money, without one, you dont' move a finger, you don't trade on fear, or greed or even feeling, you trade OBJECTIVELY. Remember, every edge will have failures, nothing is 100%, the holy grail does not exit, therefore, you need to apply PROPER MONEY MANAGEMENT so you can withstand losing streaks. Beware of buying edges from snake oil salesman, if it's for sale the edge sucks or used to work and now sucks. This also applies to gurus sharing so called edges for free, no one in their right mind would share a solid edge out in the open, barely profitable yes, the one everyone searches for, no. Now go to work (hard) or simply quit (not a bad decision actually) and look elsewhere. Good luck wherever destiny leads you to.
Ya i do it on demo or one contract and have someone else do it for me with 50 contracts!! This way i will lose a bit when i trade and the trade will make money to compensate my losses. Follow?
No. Sorry, bro, but unless you're pulling our collective leg, I think you're lost. You get out what you put in. And if all you're putting in is money, you're in for disappointment. You seem to have ready access to fair sums of money. Why don't you enjoy it rather than throw it away?
In the years you been attempting this, you most likely know more about different approaches to trading but given the amount you have thrown away, you know nothing about mental approach to trading, until you work on the mental, you will lose forever, same goes with your funds for others to trade, you have that false sense that you going to find a CTA that going to making you rich and yet all the good CTA's I have met are most conservative cause it is so easy to lose. Day trading IS the toughest of all aspects of trading money, not only do you require well back tested Trading Plan, you have to show yourself you can at least triple the account doing one lots over six months on simulated trading. There are two of you to when it comes to trading, the first guy developed Trading Plan, he made the "edge" and 2nd guy is the one who trades it but he can't make any changes and must take all trades, this is the guy who has all the mental issues usually because he thinks he knows something about the markets when he is suppose to be a dumb monkey and executing trades. Unless you overcome developing Trading Plan and overcome many mental aspects, you will continue to lose money. Also, how did you acquire your funds? If it was through business you not looking at trading as a business. Long ago I had clients like you, I make them what they lost like on yearly basis then they lose so much each year, how many months it took to lose they thought they were getting better. But when I stopped trading for others, they then just eventually lost it all. That's going to be you, you'd be better off betting on the red or black and being done. Who you seek not going to work hard for so little and those who will trade for you isn't very good otherwise they have money to trade to make 100%. Just look at Mutual Funds or learn about Real Estate. People who talk about making back what they lost are usually gamblers.
Wait, wait, wait, wait, wait a minute! I can understand how indicators and market profile and depth are confusing and offer no edge whatsoever, but don't be dissin Isolators, bro!!!!