Not bitterness,... reality, talking of which you do your job for free....i guess Sharky has found his winning system🙂
Not bitterness,... reality, talking of which you do your job for free....i guess Sharky has found his winning system🙂
zupcon
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I have to hand it to Sharky, its a great business model and if I hadnt witnessed it with my own eye's I wouldnt believe it was possible.
Zupcon,
Even inmates get a weekly allowance, and slaves get fed and watered. What does Black Swan get?
zupcon
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It would be an interesting exercise to list each and every moderator, advisor, content editor, community manager etc etc, and discuss the benefits that they derive from their role. Such a discussion wouldnt last long, but it would be rather illuminating
Mr. Charts
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It sounds as if you "traded" without stop losses and didn't put the practice and extensive testing in first.
Test everything you do paper trading FIRST, before you trade for real, and in SMALL size and WITH stop losses and trailing stops.
Obviously paper trading is NOT the same as real trading with its psychological pressures, but if you can't make a consistent profit on paper, how can you possibly make it for real?
Never trade what you think SHOULD happen only what actually happens; remember your opinion as to what SHOULD happen has zero value.
There are very experienced and capable professional people trading, so think about how you are going to do better than them..........do you really think you're better?
And NEVER gamble and never chase losses...ask yourself before you enter a trade whether you're doing so for sound technical reasons or whether you're just guessing as to direction.
Richard
Test everything you do paper trading FIRST, before you trade for real, and in SMALL size and WITH stop losses and trailing stops.
Obviously paper trading is NOT the same as real trading with its psychological pressures, but if you can't make a consistent profit on paper, how can you possibly make it for real?
Never trade what you think SHOULD happen only what actually happens; remember your opinion as to what SHOULD happen has zero value.
There are very experienced and capable professional people trading, so think about how you are going to do better than them..........do you really think you're better?
And NEVER gamble and never chase losses...ask yourself before you enter a trade whether you're doing so for sound technical reasons or whether you're just guessing as to direction.
Richard
This is it, this site is all about hobbies and interests and passing the time. The trading chat on this site is never talked about in a 'work' context, it's always pie in the sky sh!te about TA.😴...lulz. (even the lulz are wearing thin)
arabianights
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it's those new extreme porn laws, blame the tabloids and new labour
I do support zupcon's exercise though. Could be interesting. I was mostly in it to make up for ***** deficencies.
I do support zupcon's exercise though. Could be interesting. I was mostly in it to make up for ***** deficencies.
arabianights
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Oh yeah OP clearly you have no clue what you're doing, give up if I were you. You're attracted to trading for the high returns, but you can only get high returns with high risk... and those markets weren't even all that volatile, so you were obviously taking insane risks or making incredibly bad decisions. It's unlikely you'll be able to correct these impulses, probably better to cut your losses now.
Sorry to hear about your losses Fabfabio.
I don't have that much experience with CFD, but mostly trade FX. I've been doing it for some time and in September last year I manage to lose a lot. I guess at that time I didn't care too much about money and was trading like mad. At first I didn't realise and once I came back to reality more than half of the account was gone in 3 days. This was a harsh lesson in reality of trading – there is no limit as how much a trader can lose.
Since than recovered and became consistent in profit taking. I worked on my money management, discipline etc. Without those skills most of the traders would wipe their accounts out sooner or later. Good practise at the beginning (while learning) is either to have demo account or not to risk more than 1% of your capital per trade.
Also patience is important. I'm not aware of your financial circumstances, but if you are into trading, maybe after some time you can start with a small account once you did some studying on trading or a demo account. Or if you are into gambling, trading may not be the right choice for you.
It's easier said than done, but I think would be good if you can try not to be harsh to yourself (this may cause you stress and health problems). Maybe understand it as an expensive lesson. In my case that sort of lesson worked.
All the best
Well JayDee at the begining I was trading Barclays CFDs when it was around 286p but then moved to UK100 index and also UK food and drug sector (which proved most successful) and OIL (mostly lost as it moves more quicly than I blink). I was/am insane and was trading 100-200 contracts of UK100 index after just 3 days of trading expereince.
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GladiatorX
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Black Swan's quite a nice guy; No need to be a douche-bag towards him... If he likes the superiority that comes with having a higher status than the rest of the people on this site then he may aswell do it.
oildaytrader
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He is smart , so he must be gettin somethin, a license to ...... i guess
GladiatorX
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I agree;
No need to act sympathetic towards the guy, he was greedy and wanted other traders money, and they ended up taking his, for his lack of understanding, lack of effort, lack of knowledge and unwillingless to stop losing.
To metaphorically describe what you did;
You jumped of a bridge with the expectation of flying, because you heard the Wright Brothers did, but you were too lazy to research how they did it and ended up 10m under ground in a cemetary.
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Triggerfish
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Sounds more like gambling losing that kind of money!
Surely anyone wishing to enter the markets to make money must treat it as a business, there are issues to consider especially RISK, everytime money is invested, that money is at risk until its off the market.
Any reasonable person must be expected to fully understand what they are going to do and how they are going to be successful, therefore at least a business plan for a start.
When you do this, it will help you to visualise how exactly you are going to be successful but this is no guarantee either. At least the business plan approached in the right way will provide you with appropriate RESEARCH and UNDERSTANDING what you are about to do and how. All of this makes logical sense. Honesty in your approach is the key and future development of the plan is likely.
How one could just jump into the markets to make money is so easy to do but when this kind of amount is lost surely cannot be justified.
Well, now that money is lost, the only best thing to do now is make sure you fully UNDERSTAND WHY you lost the money and don't come back until you learn from it. Also get a business plan done at the same time.
Surely anyone wishing to enter the markets to make money must treat it as a business, there are issues to consider especially RISK, everytime money is invested, that money is at risk until its off the market.
Any reasonable person must be expected to fully understand what they are going to do and how they are going to be successful, therefore at least a business plan for a start.
When you do this, it will help you to visualise how exactly you are going to be successful but this is no guarantee either. At least the business plan approached in the right way will provide you with appropriate RESEARCH and UNDERSTANDING what you are about to do and how. All of this makes logical sense. Honesty in your approach is the key and future development of the plan is likely.
How one could just jump into the markets to make money is so easy to do but when this kind of amount is lost surely cannot be justified.
Well, now that money is lost, the only best thing to do now is make sure you fully UNDERSTAND WHY you lost the money and don't come back until you learn from it. Also get a business plan done at the same time.
arabianights
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I don't mean to offend, but my advice is sincere and supposed to be helpful - give up now.
And I appreciate you're trying to help those starting out, but believe me they won't listen.
B
Black Swan
I'm quite relaxed over the RBS purchase tbh, bought £100K of bank shares - Barc, RBS and Lloyds in first quarter 2009, it's for a trust fund, I've trebled its value in the past 7 years anyhow...😉
Jaydee
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Hey Fabio
It is stating the obvious that you are massively over leveraged when trading. I wouldn't be surprised if you are also clinging on to the £100 a tick loss, just watching it go against you.
Only you can know this, but what Arabianights said about giving up may be a good option. It does seem as though you are more in for the gamble than anything else and, if that's true, it's going to be hard for you to change your attitude. Especially, since you will be looking to make that money you lost back - it may take 5-10 years trading small size which is what you should do.
Anyhow, if you are still keen to trade and think it's worth your while, what Mr Charts and Foredog said is worth listening to. Learn to manage your risk and emotions first - the rest will follow.
Best
JD
the blades
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only one step to the bottom of the ladder for you fabfabio - where you might find yourself investing in someone called Wasp. Now that would be stupid.
😉
UTB
😉
UTB
oildaytrader
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Wasp was a saint compared to forex factory's Vegas's signals service and mentoring.
http://www.simple-stock-trading.com/moneymanagement.html
