99 ways to blow up your account

tar

Legendary member
10,441 1,313
I think ive had most of those rules at one point or another, 2,4,5,6 in the last 3-5
years. Bit different now tho :p

1) Never use stop or market orders.
2) Always buy on the down tick and sell on the uptick, for positioning / taking profit or loss.
3) Always consider my whole account at risk at any time.
4) Never use physical or mental stops.
5) Always know that I know nothing re direction, no forecasting.
6) Always know my 'worse case scenario at a price' and my bust out point.
7) Never be a puker :sick::sick::sick: :D
8) Always aim my efforts at outcomes that favour me.
9) Always scale in (add to losers).
10) Long only in anything priced in money (this is new so see how long it lasts :p)
11) Always take the time to find appropriate GIFS for nero1's posts. :cheesy:

Am sure theres more :)
.
 
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itspossible

Senior member
2,795 562
i actually understand darktones method of trading small etc.
but if you are trading say £3 per point your **** would fall out without stops
 

counter_violent

Legendary member
10,142 2,615
i actually understand darktones method of trading small etc.
but if you are trading say £3 per point your **** would fall out without stops
sall relative to acct size....more important to know method inside and out...and when to take evasive action, should some other parameter come into play.
 

darktone

Veteren member
3,929 1,008
i actually understand darktones method of trading small etc.
but if you are trading say £3 per point your **** would fall out without stops
It totally depends on acc size IP. 1 mill acc tarding dax could handle £3 x 30units, less than 1x.
You just have to respect risk imo
 

tar

Legendary member
10,441 1,313
sall relative to acct size....more important to know method inside and out...and when to take evasive action, should some other parameter come into play.
You would think it is relative , but in reality emotions will kick in when you trade the same method with bigger account , sure you dont believe trading a 200K account is like trading a 2K account .

When your account drops from 2000 to 1500 thats pure fun and lulz but when your account falls from 200K to 150K thats no fun at all .
 

darktone

Veteren member
3,929 1,008
You would think it is relative , but in reality emotions will kick in when you trade the same method with bigger account , sure you dont believe trading a 200K account is like trading a 2K account .

When your account drops from 2000 to 1500 thats pure fun and lulz but when your account falls from 200K to 150K thats no fun at all .
Its all the same unless you lack emotional intelligence
 

Fugazsy

Veteren member
3,661 677
In defense of Darky, I think is possible to trade without SL's.
But personally I cannot do it and I have tried with a small account.....I do not sleep at night....
 

Oscar Reed

Senior member
2,222 654
You would think it is relative , but in reality emotions will kick in when you trade the same method with bigger account , sure you dont believe trading a 200K account is like trading a 2K account .

When your account drops from 2000 to 1500 thats pure fun and lulz but when your account falls from 200K to 150K thats no fun at all .
Come on Mr Positive
 

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counter_violent

Legendary member
10,142 2,615
You would think it is relative , but in reality emotions will kick in when you trade the same method with bigger account , sure you dont believe trading a 200K account is like trading a 2K account .

When your account drops from 2000 to 1500 thats pure fun and lulz but when your account falls from 200K to 150K thats no fun at all .
Kind of a different point. For me, there's no need to be going wild risk on a large acct. The idea is, more buffer, more relaxed, better decisions, more margin available to manage overall.

Just the way I see it.
 

tar

Legendary member
10,441 1,313
In defense of Darky, I think is possible to trade without SL's.
But personally I cannot do it and I have tried with a small account.....I do not sleep at night....
Sure , but try to add to that the other points mentioned in the op and you are doomed to fail . The market can do anything .
 

Fugazsy

Veteren member
3,661 677
I know a trader he does it very well, mostly he is counter trader, he trades extremes, the bigger the TF, the better, he mostly divergence and OB/OS condition on the CCI indy.

When prices get to the new extreme he enters in the opposite direction, most of the time prices come back in positive, when he does not he will edge and he tries to gain his losses by scalping.

He trades with numerous account, occasionally one will burn out, but the one which do not compensate for them.
 
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