Losses before seeing profits.......?

Sonicscooter

Experienced member
1,811 351
Hi, my first post, i joined a couple of weeks ago, so hello......

Question that can be answered in either of two ways, how much did you lose before you started to become profitable ie a percentage of you account or in £ either answer is ok, i'm just curious, looking back on my account i seem to have lost at first, but the amount became less as time and experience went on, bit like an upside down Bell curve.http://static2.trade2win.com/boards/images/smilies/icon_redface.gif

Thanks in advance....Shane.
 

wackypete2

Legendary member
10,229 2,053
If you still have money left, still trading, and the right side of that upside down bell is clearly rising then you're doing fine so far. How much someone else lost isn't relevant to your account. Some people started with a lot of money and lost it all, others started on a shoe string and managed to stay afloat during the first year or 2. Most people at some point in their early days have blown up an account or 2. I lost 50% of my first options account within a month (way way back when, lol). Mostly because the $$ signs in my eyes were obstructing my view. Very humbling experience though.

Good Luck!

Peter
 

Sonicscooter

Experienced member
1,811 351
Hi, i think most of us go through that, then realise what we thought we knew about the markets = nothing, after reality sets in, then the learning starts. I know the word "humbling" has been used alot but it is true, once that happens it does free the mind to learn with a more realistic attitude.

Shane.
 

darktone

Veteren member
3,986 1,041
Hi, i think most of us go through that, then realise what we thought we knew about the markets = nothing, after reality sets in, then the learning starts. I know the word "humbling" has been used alot but it is true, once that happens it does free the mind to learn with a more realistic attitude.

Shane.
I started back in 2000 odd, thought i knew something, easy money right! Learned more over the next 5 or so years and was very confident about what I knew. Another couple of years went by and started to have doubts about what I knew. On another few years the doubts turned into serious doubts! Not sure when itwas that I started to consider the possibility that I knew nothing was but was at least a few years ago.
Currently im real close to 'fully' accepting the fact that I know nothing about the market.
:cheesy:
 

MajorMagnuM

Legendary member
9,284 888
I started back in 2000 odd, thought i knew something, easy money right! Learned more over the next 5 or so years and was very confident about what I knew. Another couple of years went by and started to have doubts about what I knew. On another few years the doubts turned into serious doubts! Not sure when itwas that I started to consider the possibility that I knew nothing was but was at least a few years ago.
Currently im real close to 'fully' accepting the fact that I know nothing about the market.
:cheesy:

sh1t man. that was like a big coffee mug of slaps
 
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Trader333

Moderator
8,601 931
I started back in 2000 odd, thought i knew something, easy money right! Learned more over the next 5 or so years and was very confident about what I knew. Another couple of years went by and started to have doubts about what I knew. On another few years the doubts turned into serious doubts! Not sure when itwas that I started to consider the possibility that I knew nothing was but was at least a few years ago.
Currently im real close to 'fully' accepting the fact that I know nothing about the market.
:cheesy:

So in summary:

You got to more and more about less and less to the point where now you know everything about nothing :)
 

darktone

Veteren member
3,986 1,041
So in summary:

You got to more and more about less and less to the point where now you know everything about nothing :)
:LOL:
Can never know everything right ;) (unless of course,,, you are him! :whistling :cheesy: )
The general gist is i started out believing i could predict the market, going though all usual ta, pa, sentiment, funnymentals yada yada. Learning all this stuff thats supposed to help me know whats gona happen next. Personally i couldnt make it work. That lead me to doubt the 'stuff' and with it the notion that i can predict with any consistency.
I started to slowly shift over to a 'i dont really know do I' way of thinking and started to follow the market. Trouble its real hard to not drag all the 'stuff' with you, was conflict central :LOL:.
For the last few years ive been doing pretty good, for the most part I know that i dont know, am constantly profitable but, imo, the profitability gap is huge.
Ive recently become aware (shockingly to me tbh) that i trade scared, that and dropping the final few bits of 'stuff' is what im working on now.

Its been a right old journey, 90% of which imo i didnt need to go through, but maybe by the time im done, that unnecessary 90% will only be 50% ;)

When Larry Hite was asked by Schwager (sorry random) "What makes Mint different? How have you been able to achieve return/risk ratios far above the industry average?". He replied "Because we know that we dont know. No matter what information you have, no matter what you are doing, you can be wrong."
I very reluctantly now agree. :)
 
 
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