Why do they do it?

This is a discussion on Why do they do it? within the General Trading Chat forums, part of the Reception category; Originally Posted by montmorencyt2w Isn't this more or less what J16 used to say, and why he was so keen ...

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Old Feb 4, 2011, 4:49pm   #241
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Re: Why do they do it?

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Originally Posted by montmorencyt2w View Post
Isn't this more or less what J16 used to say, and why he was so keen to move stop to B/E?
When trading his size of account, it mattered a lot more.
That exactly the sort of riduiculous bull**** I'd expect from J16 !

wot a dunce
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Old Feb 4, 2011, 4:55pm   #242
 
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Re: Why do they do it?

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Originally Posted by montmorencyt2w View Post
Isn't this more or less what J16 used to say, and why he was so keen to move stop to B/E?
When trading his size of account, it mattered a lot more.
Not really Mont.

The point I was making is not how you handle the trade but how you handle the risk.

I think the point J16 was making is that you tend to play the game in a different way when you have a bigger stake.

At first this doesn't seem to make sense (no doubt why the hare has immediately jumped down his throat). In theory, a trade is a trade. It shouldn't matter how much you have on it. It should be handled the same way.

In practice this factor makes quite a big difference to people and J16's theory that you outline was something that played a huge part in getting me profitable.
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Old Feb 4, 2011, 4:59pm   #243
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Re: Why do they do it?

hi

what your not temembering is size of account isnt most important, its size of account / total net worth.
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Old Feb 4, 2011, 5:09pm   #244
 
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Re: Why do they do it?

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Originally Posted by DashRiprock View Post
hi

what your not temembering is size of account isnt most important, its size of account / total net worth.
Why is that important?

I have more in my trading account than my bank accounts.
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Old Feb 4, 2011, 5:10pm   #245
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Re: Why do they do it?

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Originally Posted by trader_dante View Post
At first this doesn't seem to make sense
Thats because it doesnt make sense. You move stops when its safe to move them, not because you are ****ting your pants hoping your current winner doesnt turn into a loser.

Dunces are pre programmed with this particular psychological bias. To give away opportunity of greater gains is just feckin stupid.

Its good to know this sort of ****ed up thinking is being passed on to the latest generation of traders, it looks like there's a few good years left in this racket.
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Old Feb 4, 2011, 5:21pm   #246
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Re: Why do they do it?

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Originally Posted by Masquerade View Post
Why is that important?

I have more in my trading account than my bank accounts.
putting 10% on a trade when 90% of your assets in in the account (9% net worth) is different to putting 10% on a trade when you know you probably have 8 or 9 accounts still left (1% of net worth)... like the 9 lives of a cat.

and also there is the mind side of it like others have said... ok so i can be cool as a cumumber trading a 1 lot, but that doesnt mean ill be cool as a cucumber trading 1,000 of them. i dont know ill find outif i ever get that far. yes you can say "but thats bloody stupid dont be a plonker its the strategy and the same risk in percent!" but also to say "i know its irrational so i am immune to bias and know i wont feel any different" is also bloody stupid and stop being a plonker.

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Old Feb 4, 2011, 5:36pm   #247
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Re: Why do they do it?

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Originally Posted by the hare View Post
Thats because it doesnt make sense. You move stops when its safe to move them, not because you are ****ting your pants hoping your current winner doesnt turn into a loser.

Dunces are pre programmed with this particular psychological bias. To give away opportunity of greater gains is just feckin stupid.

Its good to know this sort of ****ed up thinking is being passed on to the latest generation of traders, it looks like there's a few good years left in this racket.
Harsh, but LOL...
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Old Feb 4, 2011, 5:47pm   #248
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Re: Why do they do it?

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Originally Posted by montmorencyt2w View Post
He's a fast learner, I'll give him that.
Dante's been at it for years Mike..
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Old Feb 4, 2011, 6:23pm   #249
 
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Re: Why do they do it?

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Originally Posted by the hare View Post
Thats because it doesnt make sense. You move stops when its safe to move them, not because you are ****ting your pants hoping your current winner doesnt turn into a loser.

Dunces are pre programmed with this particular psychological bias. To give away opportunity of greater gains is just feckin stupid.

Its good to know this sort of ****ed up thinking is being passed on to the latest generation of traders, it looks like there's a few good years left in this racket.
LOL, it has absolutely nothing to do with moving stops.

You crack me up!

No offence, mind. We can't always get the right end of the stick :-)
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Old Feb 4, 2011, 6:33pm   #250
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Re: Why do they do it?

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Originally Posted by trader_dante View Post
You crack me up!
You should take some time to think about why you cant take risk, and why you self sabotage.

Success is not going to happen until you do, or maybe your content as you are, in which case feel free to ignore my advice.
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