Do I Have to Accept some Big Losses in the Beginning?

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Old Oct 2, 2015, 5:02pm   #61
 
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Big losses (a relative concept in itself) should not be taken as a given - though if they do happen - as in my case (again relative) - your path becomes a great deal more respectful and less cavalier.

Takes a long time to recover though, better to have a properly tested plan in the first place. And it's free. Even if I could I don't think I'd roll back the clock - the lesson is too valuable.

I'm keeping my T-Shirt.
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Old Oct 3, 2015, 8:58am   #62
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Originally Posted by dbphoenix View Post
The "dues", however, need not be money.
Agreed......

however you look at it a large contribution in money and time will be paid before any chance of profits..

And this business is not fair by any means......there's no guarantees even for the best of the best.......if mr market has some bad bad sessions we all struggle......and that's when lack of discipline and focus can really dent the balance sheet

Anyone can make money in a good market .......that's the drug....

N
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Old Oct 3, 2015, 12:06pm   #63
 
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Agreed......

however you look at it a large contribution in money and time will be paid before any chance of profits..
If one puts in the time efficiently and productively, the monetary contribution, if any, need be no more than minimal.

But few want to study. Even fewer want to practice. And there's nothing new in this.
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Old Nov 17, 2015, 10:19pm   #64
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Well, I did, to be honest
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Old Nov 19, 2015, 8:46pm   #65
 
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BTW, to the original poster, that is an excellent, excellent write-up. One thing I might mention is the emotional side of trading. At the beginning, every gain is an exhilarating high, and every loss is a thundering gut punch, especially when real money is involved. Having a strategy based on logic, metrics and research can easily be turned upside down by a hot or cold streak.
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Old Nov 19, 2015, 8:51pm   #66
 
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I feel a bit foolish. I'm responding directly to a post made 7 years ago
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Old Nov 29, 2015, 11:38am   #67
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i feel a bit foolish. I'm responding directly to a post made 7 years ago
lol
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Old Dec 2, 2015, 5:28pm   #68
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You should keep in mind that market will trade both sides, you need to manage risks effectively and know what you can actually afford to lose.
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Old Dec 6, 2015, 11:35am   #69
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You should keep in mind that market will trade both sides, you need to manage risks effectively and know what you can actually afford to lose.
That's true. Don't think that every position will bring you 8 million.
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Old Dec 7, 2015, 7:37pm   #70
 
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I only lost around $1000 before making $200 profit consistently in 2 years. Follow me, it's not a big loss, just a titution.
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Thanks! The following members like this post: lawrence-lugar
Old Dec 8, 2015, 4:08pm   #71
 
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Keep in mind that the price movement is almost unpredictable, even the experienced traders have their own losing trading history in their past but they still considering it as the part of their trading career.
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Old Jan 24, 2016, 3:52pm   #72
 
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I think that it depends on how you manage your trading instruments.
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Old May 3, 2016, 2:48pm   #73
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Better only spent money that affrod to lose, I think is bad decision if as begining trades which still lack in experience directly use huge capital, because this will making stress if faced with margin call account
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Old May 6, 2016, 10:35am   #74
 
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Well, since every novice trader has a losing streak for like first half a year, the best way you can "accept" it is by using demo account first for this period. And only then, after you have an experience, confidence and understanding of your actions, should you go to real trading.
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Old May 6, 2016, 11:04am   #75
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Yes I think will better spent time to practicing use demo account at least six month, maybe many beginner they only rush because they want to making real cash money in real account because only emotion, but without good experience, it will mostly fail in trades, spent time learning with demo is better than without preparation
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