Finding my passion and trading

EnlightenedJoe

Experienced member
1,950 98
So you're saying eventually test with real capital?

No, I am saying test with real capital from the word go. But use the smallest amount. The market will be just as greedy for small amounts. Whether small or big, you will lose them the same way. This is why I mentioned getting ready for another career.
 

Sub-Zero

Junior member
40 1
Can you feel comfortable with losing hard earned cash , when the market behavour intimidates , annoys you , arouses the enemy within and makes you lose discipline?



Hmm I can but ONLY money I can afford to lose. Which means I would have to put some aside first. And probably only if I find day trading it self fun.
 

Sub-Zero

Junior member
40 1
No, I am saying test with real capital from the word go. But use the smallest amount. The market will be just as greedy for small amounts. Whether small or big, you will lose them the same way. This is why I mentioned getting ready for another career.

Ah I see but what you saying. But you are saying "This is why I mentioned getting ready for another career" But isn't the whole point even if you lose money try again until you succeed?
 

EnlightenedJoe

Experienced member
1,950 98
Ah I see but what you saying. But you are saying "This is why I mentioned getting ready for another career" But isn't the whole point even if you lose money try again until you succeed?

Can you sustain losing for many years ?

To truly make it, you need more than passion. You need obsession.
 

foroom lluzers

Veteren member
3,611 137
Can you sustain losing for many years ?

To truly make it, you need more than passion. You need obsession.

It needs insanity to keep doing the same thing over and over again , expecting different results.A google search will tell you 95 % lose , so you are expecting different results?
 

Sub-Zero

Junior member
40 1
It needs insanity to keep doing the same thing over and over again , expecting different results.A google search will tell you 95 % lose , so you are expecting different results?

I think the thing is if you do lose CONSTANTLY you should rethink why its happening and try change something maybe the reason people lose money for years on end is because they don't stop and think and go "hmm maybe I need a change in my strategy" or something like that. What do you guys think?
 

Sub-Zero

Junior member
40 1
If I can master emotions do you think I will become a great trader? Right now when I am doing calculations about how much money I can make instead of been excited I just stay calm.
 

Quantt

Established member
942 59
If I can master emotions do you think I will become a great trader? Right now when I am doing calculations about how much money I can make instead of been excited I just stay calm.

Actually, you cannot calculate how much money you can make in the future (unless you have a crystal ball). the only thing you can calculate is how much money you can lose, so if I am you, I would focus on the risk management... And I really wish someone gave my the same advice years ago, when I started - it would have saved me a lot of pain and a lot of money...
 

Sub-Zero

Junior member
40 1
Actually, you cannot calculate how much money you can make in the future (unless you have a crystal ball). the only thing you can calculate is how much money you can lose, so if I am you, I would focus on the risk management... And I really wish someone gave my the same advice years ago, when I started - it would have saved me a lot of pain and a lot of money...

Not in the future I just mean each trading day. Like say 0.31 share price multiplied by 100,000 then share prices goes to 0.33. You can see how much money you make that way.
 

Quantt

Established member
942 59
Not in the future I just mean each trading day. Like say 0.31 share price multiplied by 100,000 then share prices goes to 0.33. You can see how much money you make that way.

What you are describing is called hindsight trading and everyone can master it... the questions you need to ask yourself are, how didi you know you can sell 100k shares at 0.33 - especially with the sub penny stocks, the liquidity is the major issue, so what about if there is a slippage and you sell 1000 at 0.33, another 2000 at 0.31 and the rest at 0.25 for example? If you have a robust system, back tested 10+ years, go and get them tiger, but if you do not, it is like betting in a casino - the odds are not on your side...
 

Sub-Zero

Junior member
40 1
What you are describing is called hindsight trading and everyone can master it... the questions you need to ask yourself are, how didi you know you can sell 100k shares at 0.33 - especially with the sub penny stocks, the liquidity is the major issue, so what about if there is a slippage and you sell 1000 at 0.33, another 2000 at 0.31 and the rest at 0.25 for example? If you have a robust system, back tested 10+ years, go and get them tiger, but if you do not, it is like betting in a casino - the odds are not on your side...

That was my issue liquidity if there is no one to buy them I am screwed. What to do in this case find penny stocks with liquidity if possible or try avoid them?
 

Quantt

Established member
942 59
That was my issue liquidity if there is no one to buy them I am screwed. What to do in this case find penny stocks with liquidity if possible or try avoid them?

Frankly I am just staying away from all sub penny and penny stocks, the only way to make money from low volume stocks is to run a scam trading room and front run your clients...
 

Sub-Zero

Junior member
40 1
Frankly I am just staying away from all sub penny and penny stocks, the only way to make money from low volume stocks is to run a scam trading room and front run your clients...

Ah ok all these youtuber penny stock millionaires like Tim Skyes do you think they are all scammers? I can't believe espically in the last couple years how many dodgy salesman there are. Also what do you think of Ricky Gutierrez?
 
 
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