psychology of trading

odd1

THE MAN IN THE ARENA

IT IS NOT THE CRITIC WHO COUNTS; NOT THE MAN WHO POINTS OUT HOW THE STRONG MAN STUMBLES,
OR HOW THE DOER OF DEEDS COULD HAVE DONE BETTER.
THE CREDIT BELONGS TO THE MAN WHO IS ACTUALLY IN THE ARENA, WHOSE FACE IS MARRED BY DUST SWEAT AND BLOOD;
WHO STRIVES VALIANTLY; WHO ERRS,WHO COMES SHORT AGAIN AND AGAIN, BECAUSE THERE IS NO EFFORT WITHOUT ERROR AND SHORTCOMING; BUT WHO DOES ACTUALLY STRIVE TO DO THE DEEDS;
WHO KNOWS GREAT ENTHUSIAMS, THE GREAT DEVOTIONS;
WHO SPENDS HIMSELF IN A WORTHY CAUSE; WHO AT THE BEST KNOWS IN THE END THE TRIUMPH OF HIGH ACHIEVEMENTS AND WHO AT WORST, IF HE FAILS AT LEAST FAILS WHILE DARING GREATLY,
SO THAT HIS PLACE SHALL NEVER BE WITH COLD AND TIMID SOULS WHO NEITHER KNOW VICTORY NOR DEFEAT

-THEODORE ROOSEVELT

odd1

I have read this extract many many times, in fact I carried a printed version in my wallet for most of my adult life. It was promptly thrown in the bin after Bertie ahern made a balls of it.

It is kind of special that is why I gave it a stand alone post.

Apologies in advance for my next post. A long winded story that I have to write.

odd1

As the final pieces of the jigsaw are falling into place for me on my trading journey, I am starting to hear my inner voice getting louder and louder so much so it won't shut the tuck up.

You see when I started out six years ago I armed my self with the "intelligent investor" I set about making my fortune and to lead the playboy lifestyle. Sadly both fortune and living the dream has not come my way YET.
Although I found out I that had nerves of steel for medium to long term, I hadn't a tucking clue really.

It cost me money to find this out as with the one message in the book if you believe in the fundamentals and they don't change hold for ten years. I realized after a month or so that this was my future(I was addicted straight away) so with that in mind I believed in the fundamentals of myself and resolved to make my fortune even if it took me ten years of learning ( not the brightest candle on the cake)

So I set about reading the intelligent news papers no more daily star or Sun for me, no sir. starting with reading the indo business section, business post and the occasional financial times for good measure. Not to mention the endless hours on websites that would make me rich. And bless them they would sent me Daily emails after signing up.

With all this new information (utter rubbish) how could I fail, after all I was born to trade.I'll show them how it done ( the interviews with pat Kenny about how I made my fortune we're fun).

Now don't get me wrong I did make some money enough to cover losses and finance my learning curve, after all there was a bull market running so I did get LUCKY on some of my picks.
I started to drift more to trading more so than investing after all I was been shown the way by all these nice emails that will show me how to get rich. After I blew my first demo account in the First day the next one lasted over a week the next one I doubled before been timed out. Another demo another site ( more emails) tripled it. Wow this is it I'm ready, how can I go wrong this time( Pat Kenny interview again)

The true was I still hadn't a tucking clue. Cautious after my stock picking escapades, still a few pound up I decided to do a course ( don't ask) just to be safe. Now to be honest after All them hours of reading utter rubbish tit bits of trading ideas..I must of picked up a few things because I actually understood what she was teaching and i new alot of the terminology(smart or what). Now I was armed with better books to read directed to better websites the tit bits were starting to make scense. All that was left for me to do Pat was a trading plan

odd1

I got as far as personality traits on the template I download from the net, yes personally traits good on one side bad on the other, and do you know what, I couldn't answer it.
Fancy that five years of reading, studying and I couldn't answer one simple question (or is it) about myself.
I Did make a half arsed attempt at it, in fact in the end I did two of them.
The first one the Hollywood version of me two full pages of good traits (front and back) and five bad traits(I had to make up four because pat in reality Im dam near perfect)
The second one. I thought about a little harder but not much . Confident, strong honest on the good side I then wrote down aggressive on both side's, with a question mark beside each. what's going on here I asked myself, this is different. When I looked down on my traits list unbeknownst to myself, I had different written across the two with double lines Underneath. (Scary or what).
The second list ended there, i folded it up and put it away. This was the first time I really took notice of my inner voice.(it has served me well over the years)

I showed the first one to loved ones and was laughed out the door.

Ah bollok to this I 'll do a trading plan later, load of nonsense really; i,ve a course done lots of New books to read, I know my fundamentals got a fair idea of technical analysis. what's this emotional craic all about? emotions are only for women. Sod this I'm going trading

I opened up a live account(don't ask) and made the decision not to follow any of the guidelines that were advised. as I did not have a trading plan I had no rules. I deposited small amounts(couple of hundred) of money and didn,t care if I lost it.
I don't think I lasted a week. I was doing alright until my first big winner. now when I say big winner, it was big relative to my account. Wow what a high I got from that trade, no drink or any narcotic I had ever taken had given me a high like this.

I blew the whole account the very next day.

I blew my account on several different occasions each time learning a different lessons be it fundamentally or technical. As this was going on I would refer to my books and started to fully understand what they were saying. I was losing money and gaining experience and I swear it was the best fun I ever had with my pants on.
I stoped trading for at a week when I blew my account and a day when I had big gains I was Calm and focused on losing trades but found myself checking a winning trade every ten minutes. This is when I knew i had to stop trading, my emotions were all over the shop.
I Found the second list folded away in book and decided to go my friends and ask for a no hold opinions of my traits. you do your thing,you never listen, your never content you always want more,you can be greed, not the same as a normal person, overconfident.

ahh what would they know, I'm not like that. I mean like how dare they say that about me .
after two weeks of sulking I realized they were right. (I'm back speaking to them all now) Anyhoot it wasn't all bad, strong, honest, aggressive, don't dwell on things, among others came up, which were roughly in line with what my inner voice was telling me.

That was six months ago, I have since got a promotion at work, family life couldn't be better and people seem to have more respect for me. All because I,m learning to curb my bad traits.

It only took me a year to answer that one single question honestly.

I looked at my traits and looked at my trades and it became abundantly clear the two are correlated. as such I wasn't trading the market I was trading against myself.
It has become easier to trade now that I am able to plan a trade around my personality foremost and markets secondly.

now to make my fortune

This time I can honestly say to myself,
I DON'T HAVE A TUCKING CLUE
but I will be able to continue my journey with confidence.

odd1

By the way this is only my story, I hope some can learn from From my mistakes.

Happy trading

arrowloopboy

Theres a simple way to deal with all of the above.

Spend a few weeks/months/ years working on a system,that gives a positive expectancy,trade it like your GOD ,rinse /repeat ,simples,if you can get your head right.

This saves an awfull lot of losses/bullsh1t.

Thanks for sharing

Arrow.

Timmaay

arrowloopboy wrote: »

Thanks for sharing

+1, It's not easy at all is it. This sort of goes for many areas in life for me, but the more pressure you put on yourself to succeed the harder it is when things don't go to plan, which they almost never ever do. My favorite saying is my local running clubs motto "success is a journey not a destination", and for me now, the end goal of any of my trading isn't just to "get rich". What is "rich" in any case? Nice big house? Maybe, but a house doesn't make a home. Same goes for cars or any other material goods. I guess I'm lucky that I enjoy reading up about stocks/companies, and take enjoyment from trying to understanding how a stock/commodity/market trades (which in the most part, is entirely unpredictable ha).

The most important thing for me is balance, I've several targets in life, all on the go the whole time. Its impossible to stay fully focused and motivation on the one area, so I'll happily jump between all of them, depending on how much success I'm having in one over the other. I guess what I'm saying in all this is don't force it, don't let your life revolve around trading and succeeding and getting rich etc etc, which sounds like just what you are doing 2bh. I'd be fairly keen on planning and doing my homework as much as possible when it comes to trading, but I'll also accept that a large part of it comes down to pure luck, and you just have to go with the flow, and don't let emotion come into it at all, and when it does, know to just walk away, which I have done in the past, and gone to focus on one of my other aims instead.

Thronegames

odd1 as you know already I am very new to trading for the second time in my life. I just want to say thanks to you for your honesty and I can identify completely with your experience. I made and lost a fortune around 2001-2002. Thankfully I spent a lot of the money!

I am well aware that I am my own worst enemy. This time around I have gone with sentiment and trends, rather than fundamentals and I know that you think "you will go broke again", to quote you.

Can I ask you to expand on what you mean by "trading against myself"? (sorry if I misquoted but you get the gist?).

For me, yours is one of the most enlightening posts I have ever read. I'm too old to be a trader on the floor of any self-respecting trading house but at least I have the sense to get in on a bull-market and have made profit so far. I might even get out altogether soon but there's nowhere to go except 1.25% return on deposit.

odd1

Thronegames wrote: »

odd1 as you know already I am very new to trading for the second time in my life. I just want to say thanks to you for your honesty and I can identify completely with your experience. I made and lost a fortune around 2001-2002. Thankfully I spent a lot of the money!

I am well aware that I am my own worst enemy. This time around I have gone with sentiment and trends, rather than fundamentals and I know that you think "you will go broke again", to quote you.

Can I ask you to expand on what you mean by "trading against myself"? (sorry if I misquoted but you get the gist?).

For me, yours is one of the most enlightening posts I have ever read. I'm too old to be a trader on the floor of any self-respecting trading house but at least I have the sense to get in on a bull-market and have made profit so far. I might even get out altogether soon but there's nowhere to go except 1.25% return on deposit.

i dont want to make this thread about me. iv,e already put alot of mysef into that story. i think anyone that has traded will probably identify with at least one thing in it.

if you dont understand it thats ok. some will some wont.
its just depends what stage your at.

somebody else might step up to the plate.

arrowloopboy

Thronegames wrote: »

"Research?" Oh yes! I remember hearing that word during my Arts degree when I was in my eighties. White box at the top? Oh yeah, I see it now! You mean I should just type "cranky" and get your posts? As I'm 'old' and pushing 100 years of age (you appear to have made assumptions about my personal profile and you know NOTHING about me), I think I'll open a demo spread-betting account and have a quick heart-attack.

Goodnight. "Put to bed", indeed! Maybe you should take a little rest. Relax odd1, I will follow your posts as long as we are both free to post in this public domain.

To be clear; the stock market is just an interest for me. It's like the Galway Races; it's a gambol but it's a good idea to have some idea about the horses that are running. That's what I'm after old man.

NOT TRUE , every trade I make is a 2 horse race,and I 'm backing the favourite,and if he's winning I can put more on him ,if he's loosing I can take my bet off,so in a nut shell ,no ,its not like backing horses,thats a fools game ,where theres no edge to be had,the market maker owns the edge,remember that.

odd1

Thronegames wrote: »

Well naturally I'm taken aback by your reply!. I have obviously annoyed you, but all I am doing here really is trying to learn a bit from those who are most experienced.

'Trust', 'sympathy' (I think that's you mean by 'symphony') and 'forgiveness' don't really come into the equation at all for me. You're right not to trust me. I don't trust you either. Lighten up! I don't have any hidden agenda apart from my intention stated above.

Symphony/sympathy

It's called dyslexia. Sometimes I see it sometimes I don't.

That's why I a give myself the long time frame.

Thanks for pointing it out.

You might now understand why my posts are generally under two lines.

I was trying to help you when I said you will go broke again.

I wrote that story so. It might help you and others.

Happy trading

arrowloopboy

To save a lot of tooing and frowing and cryptic bullsh1t about physcology ,read trading in the zone by mark douglas,then read it again.

zpehtsfd

Thronegames wrote: »

"Research?" Oh yes! I remember hearing that word during my Arts degree when I was in my eighties. White box at the top? Oh yeah, I see it now! You mean I should just type "cranky" and get your posts? As I'm 'old' and pushing 100 years of age (you appear to have made assumptions about my personal profile and you know NOTHING about me), I think I'll open a demo spread-betting account and have a quick heart-attack.

Goodnight. "Put to bed", indeed! Maybe you should take a little rest. Relax odd1, I will follow your posts as long as we are both free to post in this public domain.

To be clear; the stock market is just an interest for me. It's like the Galway Races; it's a gambol but it's a good idea to have some idea about the horses that are running. That's what I'm after old man.

Clearly the OP is, like his ID suggests, odd. I've no idea why you seem to have taken his story to heart as from what i can tell you are poles apart in your experience. Didn't you say you "lost fortunes" in the market? Well from what i can gather the OP lost a few hundred in a couple of days by going all in on some Bulletin Board stocks. In case you're not aware BB stocks are extremely volatile stocks and many have terrible fundamentals. I really think you should be looking for advice elsewhere. Good luck to you in the future.

Thronegames

Thanks zephtd of course I'm inexperienced. I will sell everything tomorrow in fact. Made respectable profit. Not like last time! I'll be in on the next dip when investors think it's crap. Then I'll buy it at the bottom.

odd1

arrowloopboy wrote: »

To save a lot of tooing and frowing and cryptic bullsh1t about physcology ,read trading in the zone by mark douglas,then read it again.

so what do you do after you,ve had four or five losers in a row,

Thronegames

arrowloopboy wrote: »

[/B]
NOT TRUE , every trade I make is a 2 horse race,and I 'm backing the favourite,and if he's winning I can put more on him ,if he's loosing I can take my bet off,so in a nut shell ,no ,its not like backing horses,thats a fools game ,where theres no edge to be had,the market maker owns the edge,remember that.

I'm just learning and am getting out of the market over the next week to concentrate on other ventures. All I know is I've been successful and it has worked for me to buy when I think the market has over sold a share and to sell it on the rise. OK so crap strategy but it has worked for me.
Cheers!

arrowloopboy

odd1 wrote: »

so what do you do after you,ve had four or five losers in a row,

Get yourself a bag,put 40 black marbels in it,and 60 white,start drawing out marbels ,the black are losers the white winners,maybe you'll pull 4 black in a row ,its very possible,but gess the result after you've pulled 100 marbles .
Do your homework ,test and retest a system that works,4 losses in a row wouldn't cost me a taught .Its irrelevant.

Timmaay

odd1 wrote: »

so what do you do after you,ve had four or five losers in a row,

A casino in Monaco once had something like 41 reds showup consecutively on a roulette table! I wouldn't considering 5 losses in a row unlikely, I'd hardly even consider it unlucky to be honest. But excellent question all the same, and the very 1st thing you are already asking yourself with this thread is the phycology aspect. Did you make rash decisions when entering /exiting trades? Did you blow your money management, to the point that you could not recover from 5losses in a row? I pointed out in a different thread the other day that if you only invest 2% of your capital per trade, 5losses is only 10% of your capital. Losing this much is a blow I know, but well recoverable, losing say 50% not only puts you in a greater danger of going to zero, it also puts a far far greater mental strain on you, to the point that you'll chase losses and make irrational decisions, instead of remaining calm and accepting that crazy stuff like 41reds in a row can happen ha.

I've read afew phycology guides for trading, really really recommended, it doesn't hugely matter which one you read as they are all largely the same, but main thing is you take heed to what they are saying, and apply it to yourown trading.

arrowloopboy

Timmaay wrote: »

A casino in Monaco once had something like 41 reds showup consecutively on a roulette table! I wouldn't considering 5 losses in a row unlikely, I'd hardly even consider it unlucky to be honest. But excellent question all the same, and the very 1st thing you are already asking yourself with this thread is the phycology aspect. Did you make rash decisions when entering /exiting trades? Did you blow your money management, to the point that you could not recover from 5losses in a row? I pointed out in a different thread the other day that if you only invest 2% of your capital per trade, 5losses is only 10% of your capital. Losing this much is a blow I know, but well recoverable, losing say 50% not only puts you in a greater danger of going to zero, it also puts a far far greater mental strain on you, to the point that you'll chase losses and make irrational decisions, instead of remaining calm and accepting that crazy stuff like 41reds in a row can happen ha.

I've read afew phycology guides for trading, really really recommended, it doesn't hugely matter which one you read as they are all largely the same, but main thing is you take heed to what they are saying, and apply it to yourown trading.

Congrats Timmay,you seem to have your brain right :DI'm also in the 2% gang,on the down side but with an infinite upside,in a nut shell I decent trade can wipe out 5 bad ones.

odd1

arrowloopboy wrote: »

Congrats Timmay,you seem to have your brain right :DI'm also in the 2% gang,on the down side but with an infinite upside,in a nut shell I decent trade can wipe out 5 bad ones.

check out your live trade thread.

where was your 2 percent stop loss

where was your risk managment.

i had to hold your hand and walk you through the trade, till you got it half right.

wrong on so many levels.

arrowloopboy

odd1 wrote: »

check out your live trade thread.

where was your 2 percent stop loss

where was your risk managment.

i had to hold your hand and walk you through the trade, till you got it half right.

wrong on so many levels.

These indices trades are not part of my core stratagie .

There just pocket money for me ,wedges of it

You had to walk me through it ,what ya on about.got it half right ,I'm starting to feel embarrassed for you to be honest,entered at 6410.00 currently at 6830.00 ,stop loss + 100 points.

I seem to be the only one on here that puts up live trades,havn't seen any of yours or did I miss them.

You think I'm wrong,my p/l would disagree ,those who can,do,others talk about it ,i.e you.

Regards ,Arrow

zpehtsfd

arrowloopboy wrote: »

Get yourself a bag,put 40 black marbels in it,and 60 white,start drawing out marbels ,the black are losers the white winners,maybe you'll pull 4 black in a row ,its very possible,but gess the result after you've pulled 100 marbles .
Do your homework ,test and retest a system that works,4 losses in a row wouldn't cost me a taught .Its irrelevant.

Exactly. Most of the proftiable active traders i know have a 60 - 70% strike rate. A lot of it comes down to good money management. The ability to cut losses is the one thing that seperates the good from the bad ones. imo.

Timmaay

Ok back to this interesting topic! I got abit ahead of myself, and took out a stake abit too large in FX yesterday on my spreadbetting account. Its started to go against me now, every bit of logic tells me that its time to admit my mistake and cut my losses now, but I'm struggling to bring myself to hit that sell button ha! Many of yas find yourself in this dilemma?

ixus

You have less than 30 minutes before the biggest event in the week. FOMC minutes followed by a press conference. You will have extreme volatility in FX.

I don't find it funny that you would hold a position offside, know it's time to cut and have the time to discuss it here. The fact that you posted this 90 minutes before the data suggests you haven't a clue what is about to happen.

odd1

Timmaay wrote: »

Ok back to this interesting topic! I got abit ahead of myself, and took out a stake abit too large in FX yesterday on my spreadbetting account. Its started to go against me now, every bit of logic tells me that its time to admit my mistake and cut my losses now, but I'm struggling to bring myself to hit that sell button ha! Many of yas find yourself in this dilemma?

Brings back memories.
Similar trades to the one you mention above, helped me blow my account a few times.

Trade size to big.
Not knowing my market
No discipline
No defined exit point, worse than that having a stop loss and not sticking to it.
Gut feeling over fact
Chasing a loss

Anyone one of the above will help you loose money.

Combination of a few the above.... Financial suicide.

As Kenny Rodgers sang

Know when to hold em, know when to fold them,
Know when to walk away and know when to run.

Timmaay

Thankfully wasn't a huge stake, and not enough to blow my account or anything, but bigger than other stakes I have made lately, and in a market that I'm not familiar with (fx), based on a tip from a friend (!!!). Anyways have closed it now, serves as a useful slap on the wrist for me at the very least.

odd1

timmaay

will you like to share with the board?
what your state of mind was like when the trade started to go against you?
what were like when it really went against you and the indecision kicked in?
your reaction after you closed the trade?

Timmaay

odd1 wrote: »

timmaay

will you like to share with the board?
what your state of mind was like when the trade started to go against you?
what were like when it really went against you and the indecision kicked in?
your reaction after you closed the trade?

Hmmm, I'd more question my state of mind when I took out the trade ha! But anyways, by the time it started to go against me, I had resigned myself to knowing that I should not have taken out that trade, and that this was a fairly likely outcome (that I'd be in the red). Still largely calm, I knew I had no other choice but take my medicine and close the trades, me posting up here saying that I was in a dilemma wasn't really the truth, I knew I had no other choice and closed soon after that, I was just interested in that illogical feeling which tells you to hang on, or chase your losses etc etc. And in terms of my reaction when I closed, just abit annoyed I had been stupid enough to take out that trade. As I said before I haven't blown my account or anything, but I have undo two nice winning trades I had before.

Contrast this to my initial attempts to daytrade using spreadbetting a year or so ago. Back then I was very reckless, taking out trades too large, extremely poor money management, wild entry and exit points, attempting to chase my losses etc etc. And needless to say I blew my account, twice I think. In any case it was a small amount of money, 300quid or so, and thankfully since then I've done a decent bit of homework and read afew books/online guides to psychology of trading.

OttoPilot

zpehtsfd wrote: »

Exactly. Most of the proftiable active traders i know have a 60 - 70% strike rate. A lot of it comes down to good money management. The ability to cut losses is the one thing that seperates the good from the bad ones. imo.

Exactly, a ten percent loss has a greater effect on your capital than a ten percent gain. If you have one of each (equally weighted) your average return would be 0% but your compound return would actually be negative!

odd1

CUT YOUR LOSERS QUICK

that,s the name of the game, you can always get back in again.
everyone is probably sick of hearing it and it can be easier said than done sometimes, but you will find though it will eventually come down to these four words if you want to make money consistently over time

arrowloopboy

Was this trade part of a proven system that your working from,or was it a willy nilly,trigger happy,''feeling'' kind a trade ?
If it wasn't part of a proven system its a bad trade irrelevant weather its a winner or a looser .
You should have known where you were getting out before you entered,and what % of your acc you were going to lose,if it went against you.
I'm not dissing you,just keep the above in mind in future,it takes a lot of the emotion out of the trade,i've been that soilder,but I now know better:D.

Thronegames

arrowloopboy wrote: »

Was this trade part of a proven system that your working from,or was it a willy nilly,trigger happy,''feeling'' kind a trade ?
If it wasn't part of a proven system its a bad trade irrelevant weather its a winner or a looser .
You should have known where you were getting out before you entered,and what % of your acc you were going to lose,if it went against you.
I'm not dissing you,just keep the above in mind in future,it takes a lot of the emotion out of the trade,i've been that soilder,but I now know better:D.

I am serious about asking this: What is a 'proven system'? Can you give an example? As a relatively inexperienced trader can you give me a 1.2.3. step advice?

arrowloopboy

Thronegames wrote: »

I am serious about asking this: What is a 'proven system'? Can you give an example? As a relatively inexperienced trader can you give me a 1.2.3. step advice?

A system is a set of criteria that you can apply to what ever instrument your trading .It basically means trading something that moves in a certain way at a certain time of year (seasionality) or when it reaches a certain level,or hits a certain indicator RSI or MACD or whatever your using.
You would back test a sample amount of trades 20/30/50 a years worth /30 years worth) using your criteria to see what you could expect in the future (expectancy),its not an exact science,but you'd be surprised how accurate it can be.
Read Jack D Swagers Trade your way to financial freedom and Simon Thompsons Trading Secrets (have a look at the FTSE first 1/4 House builders rally ,for a good example) and see what happened this year.
All this takes a lot of research ,and effort,but so do most things worthwhile .

odd1

have a look at THE WAY OF THE TURTLE. you can get it on pdf on the net for free.

it was an experiment on trading with 13 traders.

basically they were all given the same proven system and rules.

some could stick to it, some couldn,t

arrowloopboy

odd1 wrote: »

have a look at THE WAY OF THE TURTLE. you can get it on pdf on the net for free.

it was an experiment on trading with 13 traders.

basically they were all given the same proven system and rules.

some could stick to it, some couldn,t

I've the old fashioned version,a book :eek:.

Just goes to show ,all of them had a wnning system,and some managed to fcuk it up,why, Psychology .

Its the most important part of the game.

odd1

how you guys getting on with your entry points?

Thronegames

arrowloopboy wrote: »

I've the old fashioned version,a book :eek:.

Just goes to show ,all of them had a wnning system,and some managed to fcuk it up,why, Psychology .

Its the most important part of the game.

By accident I was in library today and started reading book 'psychology of investment by ? and Geist...? Sorry I know I need to get back and find and read. Only had time to read chap 1 and preface. Pub 1999 and what fascinated me is that the authors were referring to 'Internet stocks' which at that time highly valued and uses the phrase ;'debacle of great enormity' on the way. One of the greatest post WWII crashes on the way. That was 99 and the author was right! Goes on to explore 'grandiosity', 'fear'' and 'shame' re losing money. Anyone read it?

Thronegames

Started off searching for Way of The Turtle but could not find it in my local library.

arrowloopboy

Have I mentioned Trading in the Zone ,by Mark Douglas , read,re read till it sinks in .

odd1

http://www.youtube.com/watch?v=v6ciY8u04Kk


million dollar traders.

mickman

everyone on this post will end up losing all their money

wired117

Very true !! ..death comes to all of us

arrowloopboy

mickman wrote: »

everyone on this post will end up losing all their money

Awwwwww right Ted :D:D.............................. will ya have a cup a tea ? go on .

odd1

mickman wrote: »

everyone on this post will end up losing all their money

Come on you might as well finish what you started.

mickman

odd1 wrote: »

Come on you might as well finish what you started.

People trading on tips from friends / saying 'I will buy at the bottom' etc.

comical stuff

odd1

"INSANITY; Doing the same thing over and over again and expecting different results"

-Albert Einstein

odd1

mickman wrote: »

People trading on tips from friends / saying 'I will buy at the bottom' etc.

comical stuff

sure if you don't laugh, you would cry.

glad your enjoying it.

odd1

mickman wrote: »

everyone on this post will end up losing all their money

you gotta ask yourself, who is making the money so?

https://www.youtube.com/watch?v=AZxXrv1nMkQ

Tedious stuff but if you open your mind to whats going on, you might just make it.


NOTE: I cannot edit the strategy in the clip. make up your own minds, Research before profit.

where_am_i

i find it hard to stay out of things for long , always think il miss an uptrend so rarely stay in cash for longer than a week or two , i recently changed brokers so had to cash out of everything , my stocks dropped 5% in the week it took to me switch from the old broker to saxo

i re spent half my funds yesterday morn prior to the big sell off , in hindsight , i was in a fortunate possition of having been 100% in cash at a time of significant downturn , i think good traders need to be able to figure out when it take to the sidelines for a while in order to wait for re-entry at an ideal time

odd1

I suppose you have to keep smiling. lets all have a smile together

https://www.youtube.com/watch?v=TJ-HDIpbhPY

odd1

https://www.google.ie/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&uact=8&ved=0CDUQFjAB&url=http%3A%2F%2Fwww.tharptradertest.com%2F&ei=iBxmU5jXLY6e7Ab464HoDQ&usg=AFQjCNHChoGfN_-azPpv_FHvkR3qxiLJug&bvm=bv.65788261,d.ZGU


what kind of a trader are you?


http://www.vantharp.com/Van-Tharp-Trading-Videos.asp