Short term greed makes me lose money

Discussion in 'Trading' started by Lethn, Feb 23, 2010.

  1. Lethn


    I don't know about the rest of you, but I've been realizing lately that tackling with measley $1 -$5 profits ( finally discovered what base currency I was trading in lol ) and attempting to 'predict' the market short term is useless!

    I'm currently watching my profit go up on a recent trade I made because instead of panicking every time my P/L goes into the minus. So I say woe to ye who bicker over charts and minor movements in the markets.
  2. Difficulty on your part doesn't mean impossibility on other people's part. :cool:
  3. ddefina


    The market wants to eat you--and it will most likely.
  4. Lethn


    Meh I'm trying my best, lost quite a bit of money today but I'm going to make sure I get it back tomorrow.

    It's depressing when you come up with a system that is making you money only to find you've got to make back all the money you lost first lol.
  5. Gcapman


    Don't worry---I'm sure you'll make back all the $15 dollars you've lost so far
  6. as soon as market action convinces you that stopping out for a small loss is not really necessary guess what happens next? the script has already been written.
  7. ddefina


    It's good you're practicing with a small amount of money. Even with a profitable system you have to overcome the psychology of the markets and that's the tough part. The markets are antithetical to normal human emotions.
  8. I'm actually doing the same thing, putting in small amount of money in short term markets. It keeps me motivated even though I've had more losses than gains. It's a learning experience for me, though.
  9. Learn how to fly the single prop Cessna and log lots of hours VFR and IFR under your belt before you begin to think about tackling multiengine. :)
  10. Lethn


    Still fucking hurts though when you take a big loss lol

    I retract my statement about charts however. They're pretty good for helping you figure out the way things are going before you get completely screwed.
    #10     Feb 24, 2010