The ONLY two things you can count on (and take advantage of)
Hi all...
Been seeing ALOT of articles from frued noobs/tired and worn out traders nowadays... appears more than usual. Whatever...
Anyway... there are just two things you can count on when investing in any monetary market... PROFITS AND LOSSES!
So rather simply... CUT YOUR LOSSES AND LET YOUR PROFITS RUN!!! I understand most of you won't think I am being beneficial but... there's a whole lot of wisdom to that age old expression and is really the key to success. Just figure out a way to do that.... Quit focusing on so called trading systems and magical bullet methods.... And only think about the way to be able to CUT YOUR LOSSES AND LET YOUR PROFITS RUN.... Should you do so, everything will begin to pan out... NO JOKE.
Oh and watch this,
Cheers... and let the flame war begin... (just kidding )
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21:18,
Lopeses
. . .and trade with this trend.
22:39,
Anamercado
... and utilize small bets.
Yes, really. But the trades are managed not the platform.
23:59,
Veronicagheorghe
Quote:
Originally Posted by ;
.... And only consider how to have the ability to CUT YOUR LOSSES AND LET YOUR PROFITS RUN....
So Correct.
As a complete newbie I have been taking a quick profit and chasing my losses.
On some transactions my loss transactions have been 10X my profit transactions.
01:20,
johnnyzuri
Just find a method which cuts you reductions and over until you receive a runner then let it go until your losses are covered and then some.
Cheers,
-fighter
02:41,
Veronicagheorghe
Quote:
Originally Posted by ;
Only find a method which cuts you losses and over until you get a runner and then let it go before your losses are covered and then some. Cheers-fighter
Do you have any suggestions or approaches you use yourself?
Is it all about trial and error or are there any actual proven approaches out there which give a decent result?
Can you recommend I go back to some demo account or stay with a live account to try out a new platform?
Thanks
04:02,
johnnyzuri
Quote:
Originally Posted by ;
quote Do you have any suggestions or approaches you use yourself? Is it all about trial and error or are there real proven approaches out there that give a decent result? Can you recommend I go back to a demo account or stick with a live account to try a new platform? Thanks
Well anything you do is completely your business and whatever I say shouldn't be taken as any type of investment/trading information as I'm not a licensed professional investment adviser/CTA or whatever else.
With that said(), if I were in your position, I'd trade a live micro account with like $100 rather than doing a demo account. In all honesty, I demoed for only two weeks to see what the platform was like and then immediately jumped in live since I knew the psych was the hardest area to conquer.
What I would recommend doing is perform support and resistance trading methods and learn about appropriate stop loss placement. Then have a peek at multiple time frame analysis to loing the appropriate amounts for longer term goals for each transaction. Make sure you have at least 2-3 x profit than risk for each trade you take, but to be fair you should have the ability to identify longer term amounts that the market is going towards that you can aim once you get a runner of a commerce. Doing so should give you much higher reward to risk ratios.
Anyway, thats a start.
Cheers!
-fighter
05:22,
Veronicagheorghe
Quote:
Originally Posted by ;
quote Well everything you do is entirely your enterprise and whatever I say should not be taken as any sort of investment/trading information as I'm not a certified professional investment adviser/CTA or whatever else. Having said that (), if I were in your position, I would trade a live micro account together with like $100 rather than doing a demo account. To be honest, I demoed for just 2 weeks to find out exactly what the platform was like and then immediately jumped in live because I knew the psych was the toughest part to conquer. What I would recommend doing is play ...
Due dude,
Thanks for taking out the time to answer.
06:43,
johnnyzuri
Quote:
Originally Posted by ;
quote Thank you dude, Thank you for taking out the time to reply.
No Prob...
08:04,
herbalnick
Wonderful thread, and yes, concur on starting with small account and great MM, 1 percent to kick start it all.
