I generally trade and watch the markets. Recently I was running a big position and I had to go to an appointment, so I left my desk. By the time I got back the FTSE had fallen and I was in the red. It all happened because I stopped watching the market. Had I been watching I would have closed and maybe even gone short. So now I've funds in the account and I'm trading again and watching the market. I used to enjoy it but now it's become a drag, a chore. Isn't watching the market.. rather boring!
mattboffey
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Do you not use stops?
brewski1984
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I think if you find it exciting you're probably trading for the wrong reasons.
Setting OCO orders for entry, stops for exit, limit orders for profit protection all mean you don't have to watch the screen, you can enjoy other things in your day, you won't miss market opportunites, you won't be so tempted to over-trade, but particularly important, it makes sure you plan ahead why you're going to do / not do something. You can't know what the market will do tomorrow, but you can't trade if you don't know what you're going to do.
Im the opposite then because I love trading and I find it exciting ,if i didnt i dont think I could last at it
No, I don't use stops, as you have to pay more spread for them. And typically the market will move through the stop then come back up again, so it seems like a way to lose.
wardtom084
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There are several people that do not use stops, one of them is myself. I found that was why I was loosing all of the money. I started watching the market, I found short sells much better as on average market goes down faster than it goes up and have 125 trades in a row that have all made money.
brewski1984
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The point is without using stops and controlling your risk, it will only take 1 trade to wipe out your whole account... and it will happen. Maybe not today or this week but it WILL happen.
wardtom084
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So guess I need to give the 4 thousand I made in one afternoon back.
Pazienza
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rsh01
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so you trade outright ftse, you leave your desk without any stops, and you think trading is boring. that is one way to spice it up. you too wealthy to care? or i guess just trolling and i have bitten.
if not you shld try that first friday of the mth at 1 30bst. or go to a casino.
wardtom084
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Watch a movie that you like on the computer at the same time you are trading.
I think you're all too big on stops. They're a rip off. But then, I've got the time to watch the market and close if things run against me. I've been a full-time trader for 10 years now.
On another note, I don't believe in shared consciousness, but after posting on trade2win I found myself asleep dreaming of trading corn on NYMEX and weather patterns. Spooky. For some reason I was dreaming of trading the underlying... buying and selling corn itself.
On another note, I don't believe in shared consciousness, but after posting on trade2win I found myself asleep dreaming of trading corn on NYMEX and weather patterns. Spooky. For some reason I was dreaming of trading the underlying... buying and selling corn itself.
Stops will rip the potential out of your positions if you put them in the wrong place, but 'a rip-off'? - sounds like you feel you've had price gunned through your stops to take you out. Price does occasionally spike on any amrket and if your stop is the wrong side of support or resistance or a big 00 number you will be stung and you will remember it: it will also be obvious on the chart. But what about the hundreds of times I have had stops hit by prices that suddenly ran through the stop and carried on right through, a much more common chart pattern.
Bint_Crusher
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Its ok chizd jizz. Just let yer account go down the bog.:smart::smart::smart::smart::smart::smart::smart:
Most of the blokes on here watch poorn if they find themselves stuck in front of a screen. Dunno about the birds.Any takers?
:smart::smart::smart::smart:whistlingeek:
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Pazienza
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rob hoffman did that, 18 months of winning trades with no stops, then dropped 300k in one trade (60% of his account;day trade)
