Lost all my first $1000

[barjon]

After such a long time , a hundred years , no-one knows he was a gambler who was bankrupt several times .

A real role model for the 95% club , who is worshiped by the gurus!If he failed in the end , why follow him blindly?

Well, apparently he was a keen fan of your s/r areas . Anyway who is holding him up as a role model and who is it who is following him blindly?

 

[foroom lluzers]

Well, apparently he was a keen fan of your s/r areas . Anyway who is holding him up as a role model and who is it who is following him blindly?

He had all the emotions of a gambler i.e revenge trading to win on the next roll of dice .I fink the author missed the important chapter of psychology of the big blow outs .Half information is dangerous , because even today many of his disciples miss the psychology and go bankrupt.

He still left $4m in his estate despite having made and lost several fortunes. Most of his losses came from outside investments, not his trading, aside from a series of cotton trades that went spectacularly wrong.

 

[EnlightenedJoe]

He had all the emotions of a gambler i.e revenge trading to win on the next roll of dice .I fink the author missed the important chapter of psychology of the big blow outs .Half information is dangerous , because even today many of his disciples miss the psychology and go bankrupt.

You mean, like, he should have watched the Van Tharp videos ?

 

[foroom lluzers]

You mean, like, he should have watched the Van Tharp videos ?

The author had his blinkers on , he was paying selective attention to the gambler's trading side , but missed the forest around the tree.

 

[EnlightenedJoe]

The author had his blinkers on , he was paying selective attention to the gambler's trading side , but missed the forest around the tree.

He was not the author. He had his own prior book that was a failure. In his own book he had his technique fully described. Unlike you, he didn't make up stuff.

 

[foroom lluzers]

Edwin Lefèvre was not the author. He had his own prior book that was a failure. In his own book he had his technique fully described. Unlike you, he didn't make up stuff.

Edwin Lefèvre

 

[itspossible]

Edwin Lefèvre

a little known fact-he was actually trading a DEMO account and hedging with pork bellies.
He wasnt a C@@t though unlike some people we know.:cheesy:

 

[foroom lluzers]

a little known fact-he was actually trading a DEMO account and hedging with pork bellies.
i am a C@@t though unlike some people we know.:cheesy:
see how I behave .I am not a trader.

 

[JerryKBD]

so you are not coming back as yet then?

Well I'm planning to do paper trading until then, before I invest with real money again.

 

[EnlightenedJoe]

Well I'm planning to do paper trading until then, before I invest with real money again.

Why not trade bottle caps (assuming kids still do that these days) ? It will teach you business, which is essential for financial markets. These markets are run by business people who buy low sell high. You lost to them because you bought high and sold low.

 

[foroom lluzers]

Hi all,

I have a full time job and I wanted to start trading while at home during evening. So I started around a month ago with $1000 now I lost all. Just wanna say this out somewhere.

At the same time, I was happy that I lost my money. I know I was doing the wrong thing, making mistakes, and being stubborn... maybe this will teach me a lesson.

My plan is to learn as much as I can, and come back in 1 year. I will still have faith in myself, and what can't kill me will always make me stronger...

Any recommendations on what I should read and learn?

Read psychology , learn how mistakes make losing traders and how to trade weekly swing trades or gif posters on forums.

 

[EnlightenedJoe]

Think of it as a minor contribution to the mega rich brokers ( for eg. IB revenue was 1.6 BILLION last year alone ).

Dont you think they would do anything to bring losing traders back to the table?

And if you do think they would ( go to any extent ), to what extent do you think they would go?

:shuriken:

Nonesense

 

[mpups]

Well I'm planning to do paper trading until then, before I invest with real money again.

good idea or maybe stick to a size that is comfortably small

(like my gf does)

 

[barjon]

Why not trade bottle caps (assuming kids still do that these days) ? It will teach you business, which is essential for financial markets. These markets are run by business people who buy low sell high. You lost to them because you bought high and sold low.

You've mentioned the "buy low, sell high" thing several times, joe. It's interesting (maybe) that the majority of the successful traders I know fall into the "buy high, sell higher" camp. They all say it's because they are looking for momentum and that's where you find it.

 

[EnlightenedJoe]

You've mentioned the "buy low, sell high" thing several times, joe. It's interesting (maybe) that the majority of the successful traders I know fall into the "buy high, sell higher" camp. They all say it's because they are looking for momentum and that's where you find it.

People always say their friends can do this their friends can do that. Can they do it themselves ? Nope. Until I see actual evidence of someone doing something that is claimed, then the info is not much use. Since what you said is commonly passed around, I would rate it as misinformation.

 

[barjon]

People always say their friends can do this their friends can do that. Can they do it themselves ? Nope. Until I see actual evidence of someone doing something that is claimed, then the info is not much use. Since what you said is commonly passed around, I would rate it as misinformation.

I suppose I might have expected that typically aggresssive and "raspberry to you" type response. I don't suppose you have it in you to enter into a constructive discussion from time to time. I should have known better than to try - ah well.

 

[EnlightenedJoe]

I suppose I might have expected that typically aggresssive and "raspberry to you" type response. I don't suppose you have it in you to enter into a constructive discussion from time to time. I should have known better than to try - ah well.

It's to the point, and it's clear. Seems good enough to me. You want me to write you a dear sir letter ?

I regard all publicly available information regarding trading as junk. That should covers all the questions you might have. The simple economics of trading is to buy low and sell high. It's both logical and mathematically valid. That's all there is.

Buy high sell higher is possible. It just has higher risk compared to buy low sell high. For increased chance of success, buy low sell high is better than buy high sell higher. The economic fundamentals dictates that.

If your friends are here to demonstrate, then I certainly would be interested to see how they do with what they believe in.