The Trading Journey of Lurker

[tss42]

Without a thoroughly tested trading plan, why did you ever put money on the line?

Your tolerance to risk is clearly not great (I don't mean that in a disparaging way because that's true with most people). Why are you still thinking of taking a 5% risk per trade, which in my opinion is huge. I won't even talk about 10%.

What's the rush about? Take your time and enjoy life while you still can. Not sure if you have realised but otherwise winning attributes like 'working hard' and 'wanting something badly' are usually counter-productive in trading.

 

[theroguetrader]

Without a thoroughly tested trading plan, why did you ever put money on the line?

Your tolerance to risk is clearly not great (I don't mean that in a disparaging way because that's true with most people). Why are you still thinking of taking a 5% risk per trade, which in my opinion is huge. I won't even talk about 10%.

What's the rush about? Take your time and enjoy life while you still can. Not sure if you have realised but otherwise winning attributes like 'working hard' and 'wanting something badly' are usually counter-productive in trading.

2% - 5% is about the average that a lot of traders use - at the end of the day, a lot of it is down to common sense - its a lot easier to come back from a 2% loss than a 10% loss.
If people approached trading / investing from a point of RISK (using stops correctly) - as opposed to a point of reward (trying to make too much money TOO QUICKLY), people generally would make more money.
Its ALL a learning process - a bit like driving a car -

" If you can master YOURSELF - you will master the markets...!!

 

[rags2riches]

Lurker I hope you keep persevering and end up being the consistently profitable trader you want to be. I have been making all the mistakes seen in this journal - overtrading, emotional trading, inability to follow the system. Following your journal has highlighted where I have been going wrong and inspired a beginner like me to improve.

I also want to thank all the contributors for making this thread so educational, giving their time and help for free.

Keep up the good work - it's much appreciated.

 

[Lionheart]

Lurker I hope you keep persevering and end up being the consistently profitable trader you want to be. I have been making all the mistakes seen in this journal - overtrading, emotional trading, inability to follow the system. Following your journal has highlighted where I have been going wrong and inspired a beginner like me to improve.

I also want to thank all the contributors for making this thread so educational, giving their time and help for free.

Keep up the good work - it's much appreciated.

I concur with your comments, rags2riches. I have followed Lurker's journal including valuable contributions by experienced traders like Firewalker, Dinos and others,over a long period. There have been simple system and trading plans suggested.
Like Lurker, I got wiped out once and close to being wiped out again having lost 90% of my trading capital during this market volatility. I'm now trading £1pp to conserve my remaining capital. There have been valuable contributions from experienced traders like Firewalker, Dinos and others. At the end of the day, a carefully constructed trading plan would be of no use if it is not adhered to. The gambling instinct just would not go away. Like Lurker, I know where I want to be and how to get there. My problem is following the roadmap.