How To Lose Money Trading

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CYOF

CYOF

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Ok,

My last attempt.

As the majority here are trying to make money, and, are either not able to do so, or are making very little, Or, are actually losing money, I am going to start this thread so that traders can learn How To Lose Money Trading.

Now, we will start by looking at what normally happens, and that is, according to all the experts, most traders can Expect to lose a good bit of money before they start to make it.

So, maybe if we show you how to lose money, instead of how to make money, it may be more fitting.

This is no waffle, and when the usual suspects arrive, do not let them detract you, for anyone that tries to stop you from learning about How To Lose Money Trading, is doing so for a reason, and that reason is not what you think, ever!

So, let the first Gem sparkle, and with that:

Question No.1

What is the quickest way to Lose Money in The Trading Game :?:

Serious answers please - no rude pictures allowed or I will have to do my first "report a bad post", which I am hell bent on not using, ever, so please do not tempt me :idea:

The first question is broad - but the field will narrow.
 
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risking too much of your capital per trade, and thus blowing your account before you allow it to grow?
 
trendie said:
risking too much of your capital per trade, and thus blowing your account before you allow it to grow?
Click to expand...

First - I have noticed a typo error in the name of the thread - so I will ask barjon to rectify later - but that is of little importance - to me - at least.

Whilst this is a good answer, in my view, there is something more important, a lot more important than risk control.
 
starting to think is the quickest way to lose money !

What is the quickest way to Lose Money in The Trading Game :?:

this is a serious answers !
 
pssonice said:
What is the quickest way to Lose Money in The Trading Game :?:

this is a serious answers !
Click to expand...

I will again say No.

You must think, as thought precedes all action.

Now, if you are saying that you must not think about certain things, that is different.

But, be it thinking, or not thinking, about something, there is, in my view, still something far more important than risk, or what thoughts you entertain when trading.
 
The quickest way of losing money is not to admit when your trade is wrong.

You have to take responsibilty for your actions and not blame the market, the broker or the system you have bought.

It's not easy for a lot of people to admit that they are wrong.
 
in the absence of the following rule, you will always lose

plan the trade, trade the plan

j

EDIT: apologies, the above should have said

"in the absence of the following rule, you will always lose, and any winner will be pure luck"
 
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In short your going to slaughter a invisible lion on hearing ,but use only your eyes to see with. The Lion knows this ?

ehhh ? have I got crosshairs on my forehead or a rope around my neck? :)
 
juanbyte said:
The quickest way of losing money is not to admit when your trade is wrong.

You have to take responsibilty for your actions and not blame the market, the broker or the system you have bought.

It's not easy for a lot of people to admit that they are wrong.
Click to expand...

Again, a good answer, but not, in my view, the Quickest way to loose money in the Trading Game.
 
jacinto said:
in the absence of the following rule, you will always lose

plan the trade, trade the plan

j

EDIT: apologies, the above should have said

"in the absence of the following rule, you will always lose, and any winner will be pure luck"
Click to expand...

Jacinto, a very good reply, but, again, in my view, their is something that will assist you to lose your money much quicker than anything else stated so far.

Regards,
 
CYOF said:
Like the other detractor, the mods will also be asked to ban you if you persist in trying to ruin this thread.

You have been warned.

Let us now continue.
Click to expand...

I'll take it as a rope around my neck, but meant it sincerely in the context of quickest ways to lose cash sir , If you think about it. :idea:

Again.

"In short your going to slaughter a invisible lion on hearing ,but use only your eyes to see with. The Lion knows this ?"

What do I mean by this :?: :idea:
 
CYOF
your question is complex because different personalities will have different issues and different approaches will have different obstacles, so to put it broadly:-
trading is an arena!! its the smart money versus everyone else
so to win you follow the smart money
to lose you follow everyone else.
 
Is this going to go on as the other threads have with a 'no' reply to everything that is put forward, even though they all constitute a good answer... Are you going to give the answer after a specific period or are we all going to be reading 120 odd pages again of 'nope that's not what I was thinking'

CYOF, you could post what you think the correct answer is yourself and then that opens the floor up for discussion... much easier :cheesy:

Otherwise we'll be here for a very long time guessing. We all know when we make mistakes and lose money and try not to do the same thing again...

Therefore my response would be:

If you continue to do the things that keep losing you money you'll never have any money. Change the plan if it needs it. Don't if it don't.
 
Priceman said:
Is this going to go on as the other threads have with a 'no' reply to everything that is put forward, even though they all constitute a good answer... Are you going to give the answer after a specific period or are we all going to be reading 120 odd pages again of 'nope that's not what I was thinking'

CYOF, you could post what you think the correct answer is yourself and then that opens the floor up for discussion... much easier :cheesy:

Otherwise we'll be here for a very long time guessing. We all know when we make mistakes and lose money and try not to do the same thing again...

Therefore my response would be:

If you continue to do the things that keep losing you money you'll never have any money. Change the plan if it needs it. Don't if it don't.
Click to expand...

seconded
 
Crap Buddist said:
I'll take it as a rope around my neck, but meant it sincerely in the context of quickest ways to lose cash sir , If you think about it. :idea:

Again.

"In short your going to slaughter a invisible lion on hearing ,but use only your eyes to see with. The Lion knows this ?"

What do I mean by this :?: :idea:
Click to expand...

I do not know :idea:

But, you see, If I do not know something I will say it, and, I am not afraid to say it, quite the opposite, actually, I am delighted to say, for every day I discover I know nothing, I am please with myself.

If you are answering my question, then please put it in a format similar to what the others have done.

This is really very simple - no catches - no riddles - no analogies - no detracting.

All may answer as they see fit to silly posts - but if the usual detractors come in and start been offensive, and start posting graffiti, and off topic posts, then I will ask the mods to ban them from this thread.
 
CYOF said:
Ok,



Question No.1

What is the quickest way to Lose Money in The Trading Game :?:

Serious answers please - no rude pictures allowed or I will have to do my first "report a bad post", which I am hell bent on not using, ever, so please do not tempt me :idea:

The first question is broad - but the field will narrow.
Click to expand...

Being unprepared for it
 
andycan said:
CYOF
your question is complex because different personalities will have different issues and different approaches will have different obstacles, so to put it broadly:-
trading is an arena!! its the smart money versus everyone else
so to win you follow the smart money
to lose you follow everyone else.
Click to expand...

Andy,

Whilst the question is indeed complex, as trading is complex, there is however, in my view, one very important thing, above all others, that will get rid of your money faster than anything else.

You are correct in saying that following the Smart Money is the way to go, and I myself, trade this way when I am daytrading Nas Tech Stocks, but this is not my answer.

Many will be surprised at my answer, and many will argue with it, but let us see what happens.
 
Priceman said:
Is this going to go on as the other threads have with a 'no' reply to everything that is put forward, even though they all constitute a good answer... Are you going to give the answer after a specific period or are we all going to be reading 120 odd pages again of 'nope that's not what I was thinking'

CYOF, you could post what you think the correct answer is yourself and then that opens the floor up for discussion... much easier :cheesy:

Otherwise we'll be here for a very long time guessing. We all know when we make mistakes and lose money and try not to do the same thing again...

Therefore my response would be:

If you continue to do the things that keep losing you money you'll never have any money. Change the plan if it needs it. Don't if it don't.
Click to expand...

That is entirely up to the mods now.

As all the other threads have been ruined by the usual suspects, I will request them to be banned after 3 warnings.

I will give My View when the time is right - that is if no one gets the same answer as me.

I would like very much to tell you my view, but do you see Magnus Magnuson telling the answer to the questions in Mastermind, at least until the answer is given or the time is up.

Your answer is in line with jacinto's, and whilst all the answers so far, are indeed important, there is still, in my view, one very important thing that will get rid of your money much quicker than any answers given so far.
 
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