Your post is a keeper. You detail a key factor in succeeding at this. Perhaps even the only key factor. Thanks!
Thanks for the advice, mschey. However, I think a journal makes me realise my wrongdoings faster, not magnify them. The sense of having a goal, and having people watch me on that journey, keeps me constantly evaluating what I am doing on a weekly basis. The only pressure I feel is the sense of urgency to automate my core strategies and reduce the discretionary aspects to a bare minimum. Things like determining optimum leverage for a trade (based on volatility or others), determining stop loss or exiting non-performing trades, doing preliminary checks to make sure the trade is proper (not a revenge trade, no chasing). If I develop my trading platform those are things the computer would do and reject an order when it does not conform to some simple rules.
Neke, I sure wish I could say a few encouraging words, but all I have is discouraging words. These high margin/high risk lotto ticket trades will get you into trouble. Your lucky you only lost 16k, it could have been a lot worse. I kindly ask, why not re-think this strategy?
In order to make above average returns you have to take above average risks. This is what Neke is doing and I admire him for it. If you have extra money laying around that you can afford to lose this is a good place to start. Some will make it big while others will put their money in mutual funds and be content with 6% per year after fees.
Im not sure what mutual funds you have, but here is a 5 year return for the ones at Vanguard: This the average return annually averaged over 5 years: Total International market index: 17.81% Energy fund: 26.91% Strategic Equity Fund: 15% Here is a sampling of some of the 10 year returns, meaning the returns include the tech crash: International Explorer: 17% Precious metals and mining: 17% Capital Opportunity: 17% Here are the longest best returns: High yield junk bond fund: 9.28% since 1978 Wellesley Income fund: 10% since 1970 Famous 500 index: 12.36% since 1976 Windsor fund: 12.69% since 1958 Windsor II: 13.33% since 1985 Primecap: 15.43% since 1984 Healthcare fund: 19.27% since 1984 Most of Vanguards funds are up by at least 10% or more with the precious metals fund being up by 24%. The funds are already heavily discounted so you dont really pay high fees.
laugh, just started reading this thread, i predicted this from the begining, just from reading the first few posts. your head is full of Ego, "oh i coulda made this much, i shoulda done this". All the winning luck ran out.
This is not funny and you should be ashamed at yourself for making fun of someone who lost half their money in one week. How would you feel lowlife.
It's really jealousy. It hurts him to see someone do so well so there's a sense of satisfaction for him when someone fails.
You and the OP don't understand its not YOU who makes or loses you money. it's the market. you are just a follower of the market, stop trying to be a leader. you cant control what the greater power will offer you. saying im trying to reach such and such a goal is somone full of EGO. and you will lose, you will break your own rules/laws, just a matter of time. one of the posts on the 1st page said somthing like i bet the account liquidation in 6 months, couldnt be truer.
it hurts when you lose a lot , but he's still ahead , quite a bit actually , so he's not doing so bad , may i ask if you have high gearing /margin and where you get it?