Trying to let winners run for 4 YEARS, so depressed

Discussion in 'Trading' started by apak, Nov 4, 2008.

  1. Also when you let your winners run do you have a trailing stop loss strategy? I do 25% trailing, that way some unforeseen event wont wipe my gains.
     
    #21     Nov 4, 2008
  2. NTB

    NTB

    This is the best advice you will receive:

    Money Management is not an 'edge'. You have no edge. You will lose unless you find an edge. Your money management will help you lose at a slower rate. Find an edge or change businesses....end of story. Don't question, I am right.
     
    #22     Nov 4, 2008
  3. your entry price should have no bearing on your actions imo

    As long as the trend hasnt changed, just be patient and let the pendulum swing your way.....it will if the trend hasnt changed.
     
    #23     Nov 4, 2008
  4. DrEvil

    DrEvil

    You already know your problem, as you say you are not letting winners run. Your problem is psychological. This might be due to exit strategy anxiety, however, the truth is there is no magic formula. As gordon gekko said "greed is good" ... don't settle for 20 pips, let the thing run!
     
    #24     Nov 4, 2008
  5. dozu888

    dozu888

    there is almost ZERO edge in this strategy.

    Find an EDGE first!
     
    #25     Nov 4, 2008
  6. I agree with you on that one, that is not a strategy to make money. Might as well just flip a coin.
     
    #26     Nov 4, 2008
  7. asap

    asap


    there is no such thing as "an edge" (at least at retail level). you are referring to something called <b>luck</b>.

    instead of wasting time trying to find something that doesnt exist, build a trading strategy around something immutable and consistent over the course of centuries, such as the index positive drift.
     
    #27     Nov 4, 2008
  8. dozu888

    dozu888

    index positive drift is certainly an edge... long term.

    over the short term, human behavior is predictable.... it's not totally random, so there IS an edge to be found.
     
    #28     Nov 4, 2008
  9. I'm assuming your worst strategy loses lots of money? Just do the opposite of that. Seriously learning what trades fail and why is important too. I think you need a fresh set of eyes.... take an extended break. Some of my best trading ideas have come during periods where I haven't been trading. I think your obsessed enough it will come to you but you need to have more patience. Good Luck.
     
    #29     Nov 4, 2008
  10. apak

    apak

    thank you all for your posts

    it is sad to see some of you old timers Fooled By Randomness

    There is NO edge that can be used on retail level. don't make a fool of yourself by thinking that candlestick hammer is an edge, or something like that. Key is money management. I can tell I have lot of company of failed traders who have been also trying for years.
    The Fact that NiHaBashi is saying "when did I say use complicated setups"
    This tells you everything
    What the trading masters don't want to slip out is that trading is simple, getting to that simplicity is not.
     
    #30     Nov 4, 2008