Shareing the specifics of a loss while looking for constructive critique can be a learning experience. I don't know that the orginal post falls in that category. If it does, I would say his trading career should be put on hold while he seeks help for a gambling problem. IMHO, I doubt anyone with a real gambling problem could ever learn to trade without the gambling issue clouding their judgement. Then again, what the heck do I know. Play safe this weekend boys and girls. Trading is tough enough with all of your fingers. Having them blown off could put a real crimp in your trading execution. Back at em next week.
ja, usually it works...unfortunately today even tho gold was up 4%+ in premkt and gg "only" 2% [considerin' its high beta] my long openin' range order went down the tub...got crashed hard in matter of secs...sometimes it works, sometimes not. remember last yr the oils did well when qm gapped hard, this yr not so, especially xom and the likes. edit; rarely saw imbalances like the one u mentioned: a resource stock up less than 1% in premkt and the base commodity gappin' hard 5-8%....maybe am not lookin' hard but it seems rare nowadays, innit.
I see nothing wrong with these traders sharing their experiences and I think if more traders had the balls to share their losses then we would ALL have a much more realistic view of what trading is really all about. It takes a MAN to admit his flaws and grow and only a foolish boy cowers and pretends he doesn't have any. If every single trader in ET was 100% honest I assure you that ET would be filled with sob stories and then you would see the TRUTH about this business, but you big shots that are criticizing these folks are the ones with your heads in the sand.
In any forums, some want to share (disregarding whether the contents are completely true or not), the others don't. That's it.
A little cynical and more than a little sad. At first I wondered how can we get past that ... and then I wondered what the forums were really for anyway.
Nothing sad at all. Candy-apple reasoning doesn't put you any further. ONLY FACT. Where do you think wins come from? Losers pay for these. This holds almost perfectly for commodities. For stocks, it's pretty similar but a bit more intricate. Abstract made of commissions. Your broker nibbles at your capital with every of your moves.
Yes, some truth in that and I have no problem with the evolutionary nature of the markets. Despite that I think that many of my wins come because I'm nibbling at money that higher timeframe trades don't consider to be either wins or losses but just part of getting their positions. But, what is ET for?