Your chances of making money and being profitable are only 1%. If I was to give you a money management strategy which will make all your losing systems into profitable systems. What will you do for mankind , charity and human decency? This is all done in the name of my late son to help his soul. He wanted to help people and he lived for people. He lived his life for people , helping the sick and the helpless. You are all human beings some suffering losses . some unemployment and some from mankind's loss of integrity. What will u do and how? How many of you will try and market this free help , for personal gain , to make the world a better place? Pesonal gain is not materialism , you can not take anything from any one when you leave this world
The holy grail is Higher Education More than 90% of small traders lose. They just lose! http://www.elitetrader.com/vb/showthread.php?s=&threadid=236628
I have found that I make great entry but don't know when to pull out. Please help pull out at right time.
I want to hear I will take my laptop to Africa and trade from there and help , children dying of starvation to survive and live. Otherwise none of you are worthy of the gift of god.
lol Trading can be used as a means to do more good in your life than than with almost any other profession . Assuming success of course. PTJ is an inspiration to me in respect to philanthropy. Bill Gates also. The purpose of trading for me is to get as rich as I can to help more people than I ever could with any other profession. Of course I want to live comfortably and enjoy the fruits of my work also but getting rich to amass material wealth doesn't really seem fulfilling compared to philanthropy and doing good in the world. You say MM is all you need. Lets here it. I will leave every last cent of my fortune to charities through out the world. And then I will come and work for you for $7500 dollars.
If you really have "the gift", what's preventing you from accumulating a kabillion dollars and turning the world into utopia all by your lonesome? Seems like you are kicking the starving African children by trying to dangle it in front of the rest of the unwashed masses.
As a relative newb but with experience I have a feeling money management is the key. I have no problem placing the trade, but I don't know when to get out of it at best spot? That is $ management right? Any help is appreciated!
You're in need of an exit strategy. Once you have that, money management tells you how much money to put on each bet.
MM is all you need , find a system or systems with a 50 % hit rate ,there are plenty of them ,and you are on your way to cleaning Las Vegas.Your hit rate will increase ,if your stop is much wider than target , to as much as 75% . There are some traders out there with an edge from mm ,being disciplined , trade selection ,trade management and perfect unemotional execution.These edges should help give a 90 % success rate .