why do i keep losing?

Discussion in 'Trading' started by nwose, Feb 18, 2011.

  1. nwose


    What is the secret?

    Im on my 3rd account and im down 2g after only 3 days, all over again...

    Im trying to day trade futures like es, 6e, cl...but im realizing my 50,000 a month dream is a hell of alot harder then i thought it was going to be...

    Ive done alot of research for about a year, then did demo, after that i opened a 5,000 futures account and it was gone in 4 days :( thats when it kicked in i wasnt a pro scalper like i thought

    My second account lasted 2 weeks (getting better!) im on my 3rd now. I was wondering if this sounds like a good idea, try to go ALL in with 15 contracts on margin and try to call the top next week on the es??

    how long will it take me to figure this out?
  2. Roark


    You need to pay 10K for training at a prop firm or 3K for a seminar about trading at a hotel somewhere. That's the secret to success in this business.
  3. Redneck


    You are trading your opinion

    Try trading price for a change - unless you can control price...

    I can't.., and never could

    Also use stops - religiously


    eta - fell for it hook, line , and sinker
  4. risky63


  5. you need to size down cowboy! and also a max daily stop limit and quit trading for the day.
  6. Lucias


    OKay I'm going to tell you why you keep losing and it is real simple:

    the market is random (for you/to you)

    Or rather the market is too random for the leverage you use. Look if you have a risk adjusted return of 1:1 (which is difficult to maintain/do based on all available evidence) then about the most you can make on an account is giong to be about 60% return because that implies a risk of 60% loss too

    Now, let's see what you are trying to do 50k per month on what size account? 5k. that's impossible for the best.

    Your goals aren't realistic!

    To do 50k per month = 50*12 = 600k = 600k/.30 = 2 million.

    What you are doing would be difficult to do on a 2 million dollar account! It would represent a 30% return.

    Also, I'm the best in the world at calling tops and no that is not a good idea. What would you do if it moves in your favor?

    Shorting is much more challenging then going long. It is not the inverse of a long trade. It is an entirely different animal.

  7. don't listen to these guys

    keep trying, you'll get it in no time
  8. piezoe


    You are a troll. Nobody is that stupid.
  9. You dont have an edge. Simply, the secret you are asking about could come to you after a minute from now or after 10 years or never comes.
  10. Exactly.
    #10     Feb 18, 2011