People don't post Journals anymore. They see the self induced public humiliation/bloodbath that was your Journal and don't want that to happen to them. Keep your Trolling out of my Thread.
Liar liar pants on fire. My journal is not a bloodbath, as I keep it tidy and neat. You are confusing me with B1S2 and his dumpster-fire of a journal. And this OP of yours is not a journal thread, but rather a QA session, it seems.
You do how you want to trade. It is your monies. My post intended to show the huge risk of not having a proper risk management, to other traders. Knowing that, other traders can make their own decisions on how to handle the risk.
1. Losing most of your monies, like 90% or more. James Cordier example, he lost hundreds of millions on selling options, most of it investors millions. No risk management as he went all in. 2. There are multiple studies done on how much one should be risking per trade and they suggest risking no more than 2% per trade, if you do not want to risking blowing up and losing all your monies.
You have been saying this for how many months now? I am willing to bet you aren't any closer now, so maybe that should be your evidence that you actually should reconsider you approach towards trading ... It's clearly not working, so why would it work next month if you don't change your approach, there is a saying, a donkey never hits the same stone twice, yet you do?
Good Evening p0box4, Yes, I have been saying it for probably more than a year. I do not remember. Change to what trading approach? There are too many too trading approaches to pick from. And how will I know what trading approach will make money. I will stick to what I am doing. It will work out ok. Besides, what other trading approach there is?
Good Evening smallfil, Not losing all your money is common sense in trading or any betting game. That is easy part. That is easy to say, use risk management. That is easy. I rather focus my attention, energy, and effort in getting rich in trading and making the money daily/weekly for certain! Everyone talks about risk management and not losing money, noone talks about getting rich. I ONLY joined the ES futures market to get rich. Not for income or trading for a living.
It hasn't so far, so why would it in the future? Either you change your approach or you keep losing money, it isn't magically going to resolve itself. I know you had some good periods and could withdraw money from prop firms, but a few weeks of profitability aren't going to bring you to your goal if you lose everything a little later. Clearly there is something wrong with what you are doing to make your approach profitable long term, it's up to you to figure out what that is and deal with it. Ignoring it isn't going to resolve anything. What you are doing is like watching the same movie over and over again yet expecting a different outcome every time, that simply doesn't work and never will. If something hasn't been working for the past 12 months then the exact same thing won't work for the next 12 months either.
I understand the getting rich part. Most aspiring traders start off, dreaming of the millions they will take out of the stockmarket. Now, for real life stats, 90% of traders will fail at trading, 90% of traders will lose all their monies and 90% will be broke in 90 days. Let that sink in. If you are not taking care of the risk in the stockmarket, you have slim to none chance of making it. Like the Las Vegas gambler dreaming of winning and taking over the whole casino. Not going to happen ever, not even on your best day. There are gamblers in Las Vegas who won tens of millions and lost it all. All their winnings plus all their monies on top of it. They ignored the risk of gambling. The same goes for stock trading. While, I am at it. Let me ask. Have you blown up an account before where you lost all your monies? And after that, did you blow up other accounts?