Trading is "easier" after that first (or big) big $$ winning trade...let me explain... You are trading stocks, options, futures or forex...you have a $5,000 account... Your first trade nets $400 profit...you now feel more comfortable and confident to trade and use the $400 as a "buffer" stop loss...so...you are not trading with "scared" money... anyone else relate or agree with this?...on the flip side, you lose and everything is reversed...downhill and fast...revenge trading, overtrading etc... of course you can plug in any numbers for account minimum and amount you won on that first (or after big) winning trade $$$...this is really a huge issue to discuss...thoughts? comments?
disagree completely, you are trading your P&L moreso than your method. This mentality is what keeps people from ever really learning how to trade. Once you learn how to trade, the register will ring and ring and ring but not the other way around.
Ok, but all you are doing is reinforcing a bad habit and that's focusing on the MONEY more than the METHOD. If the method is good, the money will come. You're just adding unnecessary emotions to the equation (feeling high after a good trade and scared after a bad one).
If you are a real trade, it should be irrelevant whether your first trade is a winner or loser. You should realize that some will win, some will lose, but you should be emotionally detached from any one trade. A big winner could make you over-confident. Whether you're confident or scared ...either one of those could be your undoing. another classic thread
Gentlemen, Instead of bustin on the guy why not explain the different stages of progression (growth) a trader goes through⦠Who knows we might spark some insightful dialog and learn something⦠I know I could always stand to learn Increasenow FWIW & IMHO You are correct â in the early stages of development a trader gets a win, maybe sees it as a âperceivedâ buffer and maybe it gives him / her more confidence to re-engage (ever heard the saying success begets success) Nothing wrong with this but just see it for what it is â self-confidence based on success.. And it will work till it doesnât Sir Aside: The flip side is where a trader puts too much pressure on themselves because â Iâve had âxâ wins in a row⦠I know there is no way this can keep going.. or Iâve had âxâ losses in a row â I know the next one is going to be a loser to Ultimately a trader needs to get past the above â to a point where a he/ she understands â every win or loss is truly independent of â every other win or loss⦠Then (and letâs fast forward) a trader develops (grows) â to the stage where he / she is trading truly free (free from fear / from greed / from whatever) Itâs at this stage a trader ultimately figures out wins/ loses/ whatever â just donât matter (It's also at this stage where a trader figures out - the market is what it is â it can no longer help or hurt⦠and is no longer after â âthemâ) The market just is Once here a trader merely trades his/ her setups â and letâs come what-ever may NOTE: This stage is where trading becomes very boring â Itâs the wash, rinse, repeat stage you seen repeated time and again⦠/ but it also the stage where trading becomes very lucrative All this may sound easy â it ainât â It takes a helluva lot of emotional control â and even then some days it doesnât work â why because weâre all human â no escaping that fact BTW â Getting to the "complete emotional control" stage is truly a unique and individual journey for each person â AND â Itâs also why you can teach someone how to trade, but itâs near impossible to teach someone to trade Take Care Redneck
a corner store owner or lemon stand or or any business owners has more profit than $400/day 'revenue' you might as well get real job at least it's gauranteed income.
This quote shows how little you know about business. I am willing to say you have never owned one or managed one....it shows!
Nice post....it would pay to ALL those that they think they know, but don't to read these comments once a week ....and for ALL the honest people that don't know (not their fault) to read and re read once a day. Good one , Redneck