How To Lose Money Trading

[Grey1]

One of these quotes of yours from within the past 2 months?
Ban yourself if you don't like them.

"The purpose is to try and enforce (into my thick head) how important it is to know what the trend direction is"

"For some unknown reason - I seem to take trades in the opposite direction to the current trend -why, I never can really explain - but I always get caught when I do!"

"Lost about 60 points on the YM today - will post details tomorrow as I may wipe all posts and start from scratch."

"We tend to forget at times - me especially - that you must first have the basics right before you can move on."

"So, back to basics, and the first lesson, which I had to re-learn toady, is:
ALWAYS TRADE WITH THE TREND - NOT AGAINST IT"

"I will leave the posts, even though some are pure crap."

"This thread will be for discussing trading the Mini Dow YM Futures only." -
"So, how do you go about deciding to enter / exit a trade in the YM?"

"PS: Apologies to Grey1 for using him as an example - but he is the only trader that I have seen to date who can do what he does.

"I hate this type of trading -really -no wonder so many here are so frustrated"

Glenn

Glenn


Most people here are neither a trader nor ever going to become one. They just are lonely hearts looking for an enviroment to chat and kill time , with possibly few quid to turn into millions. I know u are an experienced trader, never the less I will still explain how to get the market direction right if that is any good to you ..

Market has two elements in it which makes it trend .

1) technical ( mainly OB and OS levels )
2) Non technical (oil, interest rate ,...)


Some days market trends because of condition 1 others as a result of condition2 .

You as a trader must soon decide which one is the dominating factor..

we are technical traders .. so lets talk technically .


Market trends because in higher time frame the market is OB or OS . in another word if INDU is OB on weekly chart then the market will trend downwards on daily chart and so on . As simple as that . There is nothing to it .. i know you probably expecting all kinda factors to affect your analysis but in absence of condition 2 the condition 1 kicks in and wallaaaaaaaaa.

Now. if you think u are always on the wrong side of the market then i can argue that this is totally an impossible case, as even by the laws of probability you must at some time to be on the right side of the market. I argue and bet with you that you cut your winners when you are on the correct side of the trend and hence gain a small win which always is smaller than your losses and again i have no doubt that you let your losses run . ( so the problem is not always getting the trend direction right or wrong )


I have had many many good and experienced traders from this BB ( including yourself ) in my house trading and coaching them live so I can show them trading is a near impossible business if not done correctly and an easy peasy business only and only if one understand

a) How to cope with market news ( by news i mean all those none technical reasons which moves the market )
2) how to technically approach the market .


I currently am only swing trading due to having guests here from abroad but after 1st March I will be posting some of my daily trading activities on U TUBE so some of you guys can see how easy it is to make a comfortable living day trading US market.

Those who are new to this BB can study my trades on this link

http://www.trade2win.com/boards/showthread.php?t=19307&page=18&pp=40


I have now moved to Technical trader BB which I have posted some of my daily trades for other traders to see the entries and exits ...

Grey1

 

[Crap Buddist]

The wonderfuls of the Dutch Mind Controls ...seeing the windows

Okays, henks wants for to me to show the peoples the powerfuls of the wonderfuls further with the dutch minds controls .

as we have solve the problems of the quickest ways to the losings we further using the wonderfuls of the dutch mind controls take the questions and this is the very wonderfuls questions for alls the wonderfuls traders in the worlds to find the answers in.

Okays the dutch minds controls next wonderfuls questions is..

way to take the mosts from the wins ?

okays so now we have the questions ,henks now applying the powerfuls & the wonderfuls techniques of the Dutch mind controls to find the answers to the wonderfuls questions..

The techniques remembers are so powerfuls it is within itself the question yes the wonderfuls answers and they never wrongs too and thats whats so powerfuls & wonderfuls ?

thus the powerfuls & the wonderfuls and this is powerfuls and wonderfuls answers to the question

from unplanned least to the lose

Okays please maybe some wonderfuls members would like to try themselves with the powerfuls & wonderfuls of the dutch mind controls.

 

[dc2000]

way to take the mosts from the wins ?

Becuse we is what we fink

 

[sandpiper]

Market trends because in higher time frame the market is OB or OS . in another word if INDU is OB on weekly chart then the market will trend downwards on daily chart and so on . As simple as that . There is nothing to it .. i know you probably expecting all kinda factors to affect your analysis but in absence of condition 2 the condition 1 kicks in and wallaaaaaaaaa.

KISS. Beautiful. I wonder if you would be kind enough to explain how you establish OB / OS conditions in the INDU on the weekly.

Regards.

 

[tightstops]

got to page 6 of this thread and got tired of reading (cyof saying no your answer is wrong every 2nd post didnt help) no doubt all the usual cliche's have been mentioned my question is - was cyof's answer any more interesting than the usual answers to this question and what was it. thanks in advance for saving me time and sanity

 

[timm]

Ok,

Question No.1

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


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

The quickest way is to trade an instrument with a large spread. You have lost money as soon as you are filled. You don't need to wait for the market to move against you.You can close immediately to be sure of a really good loss.

Can we have Question No.2 now please?

 

[nine]

The quickest way to lose money is to stand back from your charts, decide which way the market is going, and then enter a trade in the opposite direction with tight stops. Repeat as long as you are enjoying the activity.

 

[CYOF]

Glenn


Most people here are neither a trader nor ever going to become one. They just are lonely hearts looking for an enviroment to chat and kill time , with possibly few quid to turn into millions. I know u are an experienced trader, never the less I will still explain how to get the market direction right if that is any good to you ..

Market has two elements in it which makes it trend .

1) technical ( mainly OB and OS levels )
2) Non technical (oil, interest rate ,...)


Some days market trends because of condition 1 others as a result of condition2 .

You as a trader must soon decide which one is the dominating factor..

we are technical traders .. so lets talk technically .


Market trends because in higher time frame the market is OB or OS . in another word if INDU is OB on weekly chart then the market will trend downwards on daily chart and so on . As simple as that . There is nothing to it .. i know you probably expecting all kinda factors to affect your analysis but in absence of condition 2 the condition 1 kicks in and wallaaaaaaaaa.

Now. if you think u are always on the wrong side of the market then i can argue that this is totally an impossible case, as even by the laws of probability you must at some time to be on the right side of the market. I argue and bet with you that you cut your winners when you are on the correct side of the trend and hence gain a small win which always is smaller than your losses and again i have no doubt that you let your losses run . ( so the problem is not always getting the trend direction right or wrong )


I have had many many good and experienced traders from this BB ( including yourself ) in my house trading and coaching them live so I can show them trading is a near impossible business if not done correctly and an easy peasy business only and only if one understand

a) How to cope with market news ( by news i mean all those none technical reasons which moves the market )
2) how to technically approach the market .


I currently am only swing trading due to having guests here from abroad but after 1st March I will be posting some of my daily trading activities on U TUBE so some of you guys can see how easy it is to make a comfortable living day trading US market.

Those who are new to this BB can study my trades on this link

http://www.trade2win.com/boards/showthread.php?t=19307&page=18&pp=40


I have now moved to Technical trader BB which I have posted some of my daily trades for other traders to see the entries and exits ...

Grey1

Hello Grey1,

I must run, but I will study your post in detail and reply.

My views on a purely mechanical system, which you appear to be trading - but please do correct me if I am wrong - are not the same as yours.

You can reply to clarify your view, if you so desire, but as I have to run now, I will post some questions to you later, in relation to allowing a computer to control the best part of your capital.

In the meantime, please do fell free to answer the question at hand:

Question No.1

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

Thank You.

 

[barjon]

hatchet man's been at it again, dc2000 :cheesy:

pruned very severely once more.

cheers

jon

ps: er, i make the moderating decisions round here, cyof, no-one is likely to be banned from what they've said so far.

 

[JTrader]

All a trader needs is greed and indiscipline and failure is sure to follow.

 

[FXSCALPER2]

I find it highly amusing reading CYOF cautioning everyone. It shows you how unrealistic (not to say delusional) this guy is. If T2W ban anyone on CYOF's say so, they might as well pack it up and go home.

CYOF, I bet you anything T2W are not that stupid.

 

[barjon]

....CYOF, I bet you anything T2W are not that stupid......

just go back two posts, fx :cheesy:

jon

 

[Mr. Charts]

I suspect cyof would like t2w to give the power of deletion to the thread initiator.
That would certainly keep threads pure and unsullied and reduce the moderators' work load but would stifle attempts at debate..............
Whatever happened to "The Little Circle"? Is it still going round..........?
Richard

 

[JTrader]

Another example of off topic posts yet again. What a waste of time.

 

[barjon]

Another example of off topic posts yet again. What a waste of time.

yes, they'll be pruned later, jt

 

[Glenn]

Glenn
...............I know u are an experienced trader, never the less I will still explain how to get the market direction right if that is any good to you ..

Grey1
"I argue and bet with you that you cut your winners when you are on the correct side of the trend and hence gain a small win which always is smaller than your losses and again i have no doubt that you let your losses run"

I trust that this wan't aimed at me and was meant for the inexperienced people.

I have been trading for around 10 years with no indicators using a technical method which cannot be computerised fully and is hard work to maintain. Using that I can get the market direction right more often than not, which has been good enough.
What you showed me was some of your own strategies, and how you had automated them and taken much of the manual effort out of the equation, for which you know I am grateful.
At the age of 60 (the new 40!) I am enjoying the reduction in effort

Out of this comes an answer for the thread starter.
To lose money quickly, don't manage your risk.
However it may not be his answer ------ yet.

Glenn

 

[Grey1]

Grey1
"I argue and bet with you that you cut your winners when you are on the correct side of the trend and hence gain a small win which always is smaller than your losses and again i have no doubt that you let your losses run"

I trust that this wan't aimed at me and was meant for the inexperienced people.

I have been trading for around 10 years with no indicators using a technical method which cannot be computerised fully and is hard work to maintain. Using that I can get the market direction right more often than not, which has been good enough.
What you showed me was some of your own strategies, and how you had automated them and taken much of the manual effort out of the equation, for which you know I am grateful.
At the age of 60 (the new 40!) I am enjoying the reduction in effort

Out of this comes an answer for the thread starter.
To lose money quickly, don't manage your risk.
However it may not be his answer ------ yet.

Glenn

Glenn ,, sorry mate , ofcourse it was not aimed at you .. It was aimed at in experienced traders in general . As i have said in my post you are a very experienced trader and hope you do really really well mat e.

My appologies again

Grey1

 

[CYOF]

are we waiting for all 60,000 members to answer before we can move on ?

No, it is a very simple question, and as I stated, similar to Master Mind, or Who Wants to Be A Millionaire, I will give the answer, which is My View, when someone posts a reply that is very close to my view.

Some replies to date have been along the line of my view, but not precise enough, and too general, so, with that, they did not constitute a correct answer in line with my view.

Thank You.

 

[CYOF]

Is this thread about being 'played'?

Whilst I have stated that chumps' reply was very close to my view, it was too general, so the answer is No.

Thank You

 

[CYOF]

the fastest i,ve ever lost money was when i was sure where the mrkt was going and wrong ,and held on to my position for a bigger and bigger loss,so the fastest way to lose money is to believe you know the mrkt and ride your losses

Again, a very good reply, but not my view, so the answer is No.

And to add, the two Golden Rules presented by P.O.P, the Phantom of The Pits, in my view, are a must for any serious trader, and Rule No.1 is of paramount importance, always.

Thank You