Losing Money

Discussion in 'Trading' started by drobin, Dec 31, 2005.

  1. drobin

    drobin

    There are countless ways to make money in "financial markets" and only a few ways to lose it. So my questions is what do you do to prevent major losses? :confused:
     
  2. drobin

    drobin

    Mine is to manage risk and meet a minimum profit target.
     
  3. You're a n00b.. wrong?

    :D
     
  4. Be nice, you'll scare the fish away. In all honesty this proffession is as close to a trial by fire as you can get. Happy New year everyone.
     
  5. drobin

    drobin

    Hey I don't mind a little heat, but getting burned is NO FUN.
     
  6. Cheese

    Cheese

    There is one guaranteed method to prevent major losses and indeed all losses .. which I would recommend to most.
    Do NOT trade.
    Or do not become a trader.
    :)
     
  7. I am intrigued by your comment that there are many ways to make money as a trader and only a few ways to lose.

    For several years, my experience was exactly the opposite.
     
  8. MRWSM

    MRWSM

    There's a million ways to make money and a billion ways to lose it. The odds are not favorable. It's not impossible but no walk in the park either.
     
  9. It is difficult as hell. Part of it because most traders are stubborn even if they are wrong (me included). If you can get out, when the loses are smaller----you will do better. That is my personal experience.
    The ones that really hurt was when I did not bail out sooner on losing trades!!!
    Everyone will have losing trades even the best traders but, majority of traders do not know when to fold them like in a poker game.
    Also, greed is killer too!!! Set price targets so, you do not guess when you should get out!!!
     
  10. U must be in the wrong thread.
    :D
     
    #10     Jan 1, 2006