I've never suffered from...

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Old Aug 11, 2009, 9:07am   #1
 
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I've never suffered from...

We all know the trading clichés... let your winners run... cut your losses... remain detached.... etc etc... yada yada...

Are there any trading maxims that you can say you've never had problems with.

I'm thinking more along the lines of right-from-the-start and not things you've eventually overcome.


For me, it's cutting losses. As far as I am am aware I don't think I've ever held onto a loss hoping it will go my way. Maybe once or twice that I've forgotten about, but certainly no percentage of the hundreds (maybe thousands) of trades I've done.

Doesn't mean sh*t though. In cutting the losers I've cut the [potential] winners too!

Just curious really...


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Old Aug 11, 2009, 9:10am   #2
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I have made every single mistake there is too make in this business
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Old Aug 11, 2009, 9:41am   #3
 
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I reckon there are only two types of trader: those who've done these things and those who've yet to do them.

I think the only thing that I've maintained without falter from the start is my determination to succeed
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Old Aug 11, 2009, 10:00am   #4
 
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Originally Posted by 0007 View Post
I reckon there are only two types of trader: those who've done these things and those who've yet to do them.

I think the only thing that I've maintained without falter from the start is my determination to succeed

Well, I've undergone that one a few times.

Going away from trading for a month or so after months of little success... only to come back, yet again... for more punishment...
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Old Aug 11, 2009, 10:28am   #5
 
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Originally Posted by Yuppie View Post
Well, I've undergone that one a few times.

Going away from trading for a month or so after months of little success... only to come back, yet again... for more punishment...
Yep! I know the feeling. It taught me that choosing the point when you change tactics can be very difficult, ie. is it your system and lack of edge that is wrong or have you just not persisted correctly enough? I think it comes back to the old truth of finding what suits you and your system eg I get better results on US stocks with same system and same human failings - I put it down to increased volatility.

Bit like Hitler and the Battle of Britain in 1940 - he had a good system but abandoned it too soon (thank God!)
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Old Aug 11, 2009, 10:32am   #6
 
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Never bought a trading system.

Or paid some charlatan £1000 for a days 'coaching'.
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Old Aug 11, 2009, 10:35am   #7
 
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Never had a problem detaching myself from the money. This sometimes acts to my detriment, as I've turned a fair few green days into flat/losing days (esp after costs) by being overly aggressive with the money I've made over the day. I think this will benefit me in the long term though, so I'm not too worried about it.
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Old Aug 11, 2009, 10:36am   #8
 
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Many people on here never suffer from modesty or honesty.
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