Secrets to success in trading

Discussion in 'Trading' started by jharmon, May 17, 2018.

  1. Handle123

    Handle123

    Of course I did not start out this way, I preferred to go the other way of losing for seven years in futures, as brain said they were harder to trade then stocks. I have known a few that had done it of 5-135 and they never had to experience all the negative bs I had to discover about myself. And those who say that time period builds character are fools and never experienced the depth of failure staring in your face each day.

    But those who want to trade are never going to listen, they will set up account and like a cry out of the darkness "free beer and lobster" they come running.
     
    #131     May 23, 2018
    schweiz and beginner66 like this.
  2. except that repeating the same mistake and expecting a different result this time is not wise
     
    #132     May 23, 2018
    CSEtrader likes this.
  3. qxr1011

    qxr1011

    one should repeat the same mistake until one will find out the solution
     
    #133     May 23, 2018
  4. schweiz

    schweiz


    I call this behavior the "90% of drivers think they are in the top 10% of drivers".

    Most people overestimate their abilities or underestimate the difficulty. In both cases they lose.

    I also went the hard way like you...till I got wiped out and understood I had to change tactics.
     
    Last edited: May 24, 2018
    #134     May 24, 2018
  5. newwurldmn

    newwurldmn

    Lots of experienced traders fail too.
     
    #135     May 24, 2018
  6. padutrader

    padutrader

    yep but maybe not 95%
     
    #136     May 24, 2018
    CSEtrader likes this.
  7. Cswim63

    Cswim63

    As humans we don't perceive change very well. And we tend to become comfortable with the situation at hand, which is related but different. A trading system should help. If you follow it. See above.
     
    #137     May 24, 2018
  8. Cswim63

    Cswim63

    Also, if you're a child you probably have a healthy imagination. Then they send you to school to wring it out of you. You have to have a good imagination to be a good Trader, Imo.
     
    #138     May 24, 2018
  9. smallfil

    smallfil

    Like I tell a friend who I am trying to teach how to trade, you have to use some common sense. Sometimes, you come into a trade right before you. Like a King Cobra about to strike you! You have two choices, take the trade then, watch the price action or pass on it! My friend has the tendency to find 100 reasons to get into a trade and I tell her, by the time you find your 100 reasons, the trade is long over and the position closed! So, you wasted enormous amounts of time for nothing! You got to pull the trigger if there is a confluence of factors favoring the trade. Could it fail, of course it could! It could also, work out as expected. You are not going to bat 100%. As long as you control your risk, your position should be like a casino with an edge. The longer the time period, your edge asserts itself and you make monies, lots of it!
     
    #139     May 24, 2018
  10. Cswim63

    Cswim63

    Women tend to be too cautious. They are built in a fundamentally different way. Men are builders, designers. They have testosterone. On the other hand, you don't see women overtrading and blowing up accounts like men. Maybe something like spread trading where it's a little slower and you can see things develop would work. Utility stocks, bonds.
     
    #140     May 24, 2018
    padutrader likes this.