Thanks Andy.
I so regret not going to uni, getting a city job and some experience before going it alone.
overrated, the best university is the one of life the one where one makes his/her decision and lives by his/her rules
I thought I'd go it alone instead and it's proved expensive and at times lonely.
and if you stick to it you will be rewarded what goes round comes round
Just one week shadowing a good trader would change my life I'm sure.
im too busy at the moment but when i do have some time, i may do some live trading maybe a certain person will join in too
he knows who he is and it should prove to be great fun and interesting.
I guess it's trading from a point of desperation that makes it harder to take a loss and accept you're wrong; it's easier to have false hope than face the facts.
how about this: accept you are wrong and you need the market to prove you right
When I get to a point of financial comfort and can trade without as much pressure to have to make money each month I think taking the losses will become easier.
taking losses is a matter of training yourself, eventually taking a loss is just one part of business as usual mentality
its neither here or there but naturally this is accepted once you have demonstrated to yourself that you have an edge, that you can ride the losses because at the end you are winning in general
Sometimes I dare myself to take a loss and feel so proud having the balls to take it on the chin.
that may give you the wrong attitude not because you can take it but its well known that you learn from losses not the wins
accept the losses as lessons and the trick is not to keep repeating the same lessons
the understanding of why you take a loss
It's just the 'need' for money that throws what you know you should do and what you do in to conflict.
If anyone is a great trader or know's any that like tea on demand I'd love a day just to watch them work.
maybe so but in my experience to learn from a trader you have to understand their thinking
and 1 week wont do it infact it probably take you about two weeks for you to assimulate one piece of information
The problem is when you have 'done the wrong thing' hung on forever and finally it's come good it makes you think hanging on everytime will work.
yes and if you were investing maybe thats the approach but trading is about maximazing your capital sure you can go short see the market reverse against you and wait a few weeks till you get out breakeven or a small profit, but you will then need to explore what you could have done with your money in between you could have had several trades that would have made you far more than the hold hope and wait
I am 100% certain there are some people holding shorts on the FTSE from the 3,300 low.
Isn't human behaviour crazy sometimes.
im sure but im also sure they are no longer trading
Good luck this afternoon. I won't offer my opinion on today's price action as I'd obviously be talking my position rather than evaluating the facts!
no train yourself to have an opinion always have an opinion but also accept what the market is doing
dont blend them together unless it clear crytal clear.