anyone confident enough to post live 10 winning trades in a row?

I have only 54% wins but my results are great because I cut losses fast. For those who don't use stops, please remember this: Only one losing trade can kill your entire account no matter how many wins you currently have.

I hope you never let this happen to you.
 
No, to start with the stop loss was killing me, up to 125 trades, no stop loss, all trades have made money. Also I only short sell. I have found it takes longer on average for the market to go up, and faster for it to go down.
 
wardtom084 said:
No, to start with the stop loss was killing me, up to 125 trades, no stop loss, all trades have made money. Also I only short sell. I have found it takes longer on average for the market to go up, and faster for it to go down.
Click to expand...

What do you trade? Just a friendly reminder, you need SLs...
 
Just seen this thread (I haven't visited T2W for months ) I won a share of the £100,000 Worldspreads competition last December with 19 winning live trades in a row - Incidently 185 other traders completed 10 in a row !!
 
wardtom084 said:
No, to start with the stop loss was killing me, up to 125 trades, no stop loss, all trades have made money. Also I only short sell. I have found it takes longer on average for the market to go up, and faster for it to go down.
Click to expand...

Aye, works like charm doesn't it :), except on the one occasion that it doesn't - and sure as eggs are eggs, one will arrive and you only need the one. Where's your "cry uncle" point then? 25% of your account? 50%? 100%? or more?
 
Using a hard and fixed stop loss will kill the majority of novice accounts and on a market spike it may not get filled anyway
Much better is to be patient, know where you will get in and where you will exit good or bad and risk management one trade should not be able to blow your account.

"Get in Get out Go home"

"Hedge fund" the clue is in the name - one guarantee the markets will move
 
barjon said:
Aye, works like charm doesn't it :), except on the one occasion that it doesn't - and sure as eggs are eggs, one will arrive and you only need the one. Where's your "cry uncle" point then? 25% of your account? 50%? 100%? or more?
Click to expand...

(y)
 
wardtom084 said:
well this thread was posting how many you have in a row, move me up to 220 in a row
Click to expand...
Hi wardtom084,
As barjon pointed out - sooner or later you'll take a big hit - one which is likely to erase all of the gains made on the 220 winners and may even wipe out your whole account. When that happens - which it will do sooner or later - will you change your approach and use a stop loss, or do you actually believe that it can't happen to you?
Tim.
 
timsk said:
Hi wardtom084,
As barjon pointed out - sooner or later you'll take a big hit - one which is likely to erase all of the gains made on the 220 winners and may even wipe out your whole account. When that happens - which it will do sooner or later - will you change your approach and use a stop loss, or do you actually believe that it can't happen to you?
Tim.
Click to expand...

not the way I am working it no, I have several eggs, I also have several baskets, one spike in the market will take out a stop loss which will be hard to get back.
 
wardtom084 said:
one spike in the market will take out a stop loss which will be hard to get back.
Click to expand...

It'll only be hard to get back if the size of the loss is large in relation to your account balance. If losses are of that kind of magnitude, then you have a huge problem just waiting to happen

One way or another you need to control risk, and any trader would be pretty dumb not to control one of the few things that was within their control.
 
djia19201940s.png
 
The above chart is the 1929 crash followed by the 30's bear market.
The Dow did not reach its 1929 peak again until 1956.
Thats a long wait for a trade to come back...:whistling

Only shorting the EU basically means you hope the euro tanks or fails.
What happens if the USD is no longer reserve currency or China can no longer
hold all that U.S. debt.
Thats one hell of a risky and ultimately pointless assumption...

Sooner or later any market will keep going in one direction for much much longer than you can hold out for.
Always use a stop loss - even if its only a disaster stop quite a way from your intended
loss exit.

http://stockcharts.com/freecharts/historical/djia19201940.html
http://stockcharts.com/freecharts/historical/djia1900.html
 
Had 4 in a row this week and pretty satisfied, because all winners were bigger than risk taken on those trades. :cheesy:
 
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