Loss...LOSS and MORE LOSS!!!

[nas711]

hi, i guess u probably heard this loads by now, but im a newbie, hve started spreadbettin the dow for last couple of months, and been either Shot down(stopped out too early) or taken massiv losses, missed opportunities or worst of all made profiting trades...but today i jus had com on here n moan about it lol...

I was down 20 points but came back up to 4 point profit and came out of the bet, but as soon as i did that the dow went up another 40 points...After, this missed oppoturnity i tried again durin the day watche d the dow and was completely in the wrong direction to go long when the dow went short takin my losses to above 60 points.

Can some one please help me out ere... I trade 5 min slots...and atm lost and confused on what i should do...even the 5 min bars, my stops are usually 20-25 points allowing for the breathin space, but this seems to be in adequate.....:idea::idea::idea:...im really jus lost for ideas...

 

[rathcoole_exile]

stop trading now !

read everything here by trader_dante, the bramble, nkruger, captain currency

then read anyone else on T2W whom you come across as a good source

then buy and read several times Mastering The Trade by John F Carter

then ditch your SB and open up a DMA accout - try tradestation, prorealtime, etc etc

meanwhile, PLEASE don't place a single trade


and avoid that knut spanish like the fcuking plague !!

 

[Chorlton]

hi, i guess u probably heard this loads by now, but im a newbie, hve started spreadbettin the dow for last couple of months, and been either Shot down(stopped out too early) or taken massiv losses, missed opportunities or worst of all made profiting trades...but today i jus had com on here n moan about it lol...

I was down 20 points but came back up to 4 point profit and came out of the bet, but as soon as i did that the dow went up another 40 points...After, this missed oppoturnity i tried again durin the day watche d the dow and was completely in the wrong direction to go long when the dow went short takin my losses to above 60 points.

Can some one please help me out ere...I trade 5 min slots...and atm lost and confused on what i should do...even the 5 min bars, my stops are usually 20-25 points allowing for the breathin space, but this seems to be in adequate.....:idea::idea::idea:...im really jus lost for ideas...

Based on the comments highlighted it's apparent to me that you clearly have no idea about Risk / Money Management.

First thing to do is Stop Trading .... well actually you aren't "trading" at the moment anyway... you're just gambling...

Follow the advice that Rathcoole has offered as this would be a good start...

 

[Splitlink]

hi, i guess u probably heard this loads by now, but im a newbie, hve started spreadbettin the dow for last couple of months, and been either Shot down(stopped out too early) or taken massiv losses, missed opportunities or worst of all made profiting trades...but today i jus had com on here n moan about it lol...

I was down 20 points but came back up to 4 point profit and came out of the bet, but as soon as i did that the dow went up another 40 points...After, this missed oppoturnity i tried again durin the day watche d the dow and was completely in the wrong direction to go long when the dow went short takin my losses to above 60 points.

Can some one please help me out ere... I trade 5 min slots...and atm lost and confused on what i should do...even the 5 min bars, my stops are usually 20-25 points allowing for the breathin space, but this seems to be in adequate.....:idea::idea::idea:...im really jus lost for ideas...

I put an idea forward on this thread. Perhaps it might help. 5' is fine, for entries, but you need longer time frames for the bigger picture.

http://www.trade2win.com/boards/first-steps/33373-need-help-trading-daily-tf.html

 

[Yokiro]

You should take the time to improve your strategies or start using strategies. I don't know how you trade but I recommend you to look around this forum through all the goodies the veterans have dropped for the rest to benefit, and then practice with a demo account. This is a business, not a casino.

 

[spanish89]

20-25points stoploss on the dow is just ridiculous mate.

Im not gna try to preach to you and remind you that your currently losing money and then try to tell you what to do, because its your money and so you will always trade how you want with it.

But I am creating a thread in this newbies forum called ''I bet you think you are, but are you really actually trading??!''

And i suggest you read it and then rethink hw you view the entire stockmarket, as that is the reason why you and most other newbies do lose lots money to start with.

 

[Splitlink]

Well said. Your stops have to take the volatility of the instrument into consideration. I don't like those risks so.......I don't trade the Dow, but something else. Pick the instrument that suits your pocket. Do not trade the Dow with stops that are going to trigger within a very short time and worry the hell out of you.