it is easy to lose lots of pips on days where you should have made lots of pips
the blades
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J - I see retirement from T2W is going well
While your at it, any chance you can establish the proportion of posters who use Butter or Margerine?
UTB
foredog
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Yes, and then fear takes over you don't takethe next trade and thats the one that would've made a chunk back....
having one of those days too.
1st trade i shorted a stock, put on a trailing stop (idiot, do it manually) of 10p (over 1% of price)
the bid gapped away and traded 12p lower so my stop went to below the current offer and it triggered for a small loss, versus a 1.5% gain!
2nd trade stop got hit then that was exactly the high, down it gooooooeeeesssss
then i just p*ssed a bit more away.
One of those days when the plans not wrong but i am!
(cheers for letting me get that off my chest!)
having one of those days too.
1st trade i shorted a stock, put on a trailing stop (idiot, do it manually) of 10p (over 1% of price)
the bid gapped away and traded 12p lower so my stop went to below the current offer and it triggered for a small loss, versus a 1.5% gain!
2nd trade stop got hit then that was exactly the high, down it gooooooeeeesssss
then i just p*ssed a bit more away.
One of those days when the plans not wrong but i am!
(cheers for letting me get that off my chest!)
Hoggums
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That would be an interesting exercise - to set up a platform with zero commission and see how quickly people could get to zero.
Probably harder than you think!
JTrader
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J - I see retirement from T2W is going well
While your at it, any chance you can establish the proportion of posters who use Butter or Margerine?
UTB
i first wanna dislodge old chartman from the no 2 spot of T2W most prolific posters who played about with trading but haven't yet made $.
should get there this avo unless i get banned for foul anbd abusive language first. fukc you ligtening mcqueen
my as well use the remaining posts trying to off put newbies
arabianights
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J - I see retirement from T2W is going well
While your at it, any chance you can establish the proportion of posters who use Butter or Margerine?
UTB
Always butter.
the blades
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Skill Leverage
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Would depend on the size of the positions in relation to the account I suppose, but I imagine you'd be right - for example if you had a starting account of 10k and were taking out CFDs equal to £1 per point with a stop-loss/take-profit of 10, it would take you forever to go bust even if your performance was worse than 50/50. As soon as you add in commission however, things would come to a halt far sooner.
JTrader
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spreads/commissions add up quickly that is why it is much harder to win than lose.
Sods law is the other factor.
JTrader
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it really is uncanny how the trades where you do decide to dip your toe back in on, either reverse completely, or reverse to your SL - then continue.
Then, bruised and shell-shocked, you either decide to miss the next entry, or hesitate and miss the boat, only to see it move immediately into profit, without any drawback from your entry price, and without giving you a 2nd chance to get back in at your entry price.
To avoid this downward spiral, you really do need to be able to distinguish a strong signal from a weak signal, annd then refrain from trading the weaker ones.
FXSCALPER2
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How would you feel is you met Jtrader on a daily basis? He would be an annoying git, eh? On the net, on the other hand, he is acceptable.
JTrader
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How would you feel is you met Jtrader on a daily basis? He would be an annoying git, eh? On the net, on the other hand, he is acceptable.
Am i - "infamous" - around these parts. Dear god NO! anything but infomous
Skill Leverage
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Sod's law is an often-misunderstood concept in probability theory, and something that many novice traders do not fully take into account. Many are unaware of the invisible hand that Sod's Law (or buggerification, to give it its generic title) casts within the markets - if there is a 1% chance something will go wrong, it will go wrong at least 54% of the time. This must be factored into all risk/reward projections, something few beginners are able to do.
Skill Leverage
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This theory is a corollary to the Fantana theorem of Probability, first seen in Ferrell's 2004 publication Anchorman - '60% of the time, it works every time'.
foredog
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Yep, most of them weren't the best setups, trying too hard to make a few quid, instead of waiting for it to come to me!
JTrader
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i think you're probably right.
Basically, if i dont do it - it will win EASILY & VERY QUICKLY most of the time.
If i do do it - it will either fail, or struggle to a win.
IF IT WASN'T SO MU tha fu CK in serious i'd vbe pis sin my self with laughter.
I think in STOP-LOSSED trading - the odds of success are far smaller than 50/50 because you have at least 3 options -
1) WIN
2) price hits your SL then immediately reverses back into your original chosen direction to what would have been a profit had your SL been bigger.
3) your SL is hit.
To counter "2)" you may play about with stop loss size - but then you affect overall risk:reward and bottom line profits.
Skill Leverage
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Beginners should also note that Sod's Law operates on an exponential scale - this means that if something is likely to go wrong 3% of the time, in reality it will go wrong 2,432% of the time.
JTrader
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I am on a run of horrendous losses - in terms of -
- the good entries i do take fail.
- the good entries i do not take WIN BIG & quickly.
- the good entries i bail out of early (as price has gone no where fast, ALWAYS WIN & usually big - 90% of time)
- the good entries i do not bail out of early (as price has gone no where in my favour fast - ALWAYS LOSE - 90% OF TIME)
-Clicking on one price, and it changing against my favour b4 the mouse click actually seals the deal. This makes profits smaller, makes losses bigger, and reduces confidence when in the trade to follow my plan. 90% of the time it is a case of price changing against me. Rarely wil it go in my favour after i have made the decision to click on it. Though i am not blaming this on broker manipulation - just SODS LAW
I cannot put this all down to chance. There are other forces at work here..............
Overall though, trade all the signals without hesitation, follow the exit plan and the profits more than make up ofr the losses.
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Skill Leverage
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JTrader you're either experiencing what poker players call a 'downswing' - a period of time in which a high number of low-probability events occur - or your trading rules/strategies need a tweak. Either that or your just not one of the people that God chose to be good at trading.
