My first Loss in 40 days

[ukdaytrader]

40 consecutive trading days of net profit s and today I suffered my first loss !!

It feels pretty s**t

 

[Marwan2010]

40 consecutive trading days of net profit s and today I suffered my first loss !!

It feels pretty s**t

well you are unique!
majority have a 40 consecutive trading days of loss
and when they have one good day, they tell the world!

By the way what do you use to be consistent?
It is inspiring to see guys out there suceed.

I too have had a great run of wiining days, then couple of bad days when i flipping got involved with stupid arguments on the threads on Islam put me back
But yes I have had a great day today,!

 

[ukdaytrader]

Basically to make me feel better and enhance my motivation I always try and net off my profits and losses to get a net profit. Of course net net you still need to be up, but I attempt to make a profit everyday so sometimes close out positions prematurely to offset against losses incurred on the day.

It has had a benefit as although the profits are not massive on any particular trade you end up taking little bits here and there which may have ended up as a loss. You also feel like you have earned some money for the day which keeps the motivation and confidence up

 

[trader_dante]

Basically to make me feel better and enhance my motivation I always try and net off my profits and losses to get a net profit. Of course net net you still need to be up, but I attempt to make a profit everyday so sometimes close out positions prematurely to offset against losses incurred on the day.

It has had a benefit as although the profits are not massive on any particular trade you end up taking little bits here and there which may have ended up as a loss. You also feel like you have earned some money for the day which keeps the motivation and confidence up

Please don't take this as a personal attack but what you have described sounds like a terrible strategy. I can only imagine that when you lose, you give back a lot more than you have been winning - hence the fact it hits you so hard. I might be wrong...but seriously, closing winning trades to offset other losses...this is really, really bad in my opinion.

But it is just my opinion. Don't take offence.

And all the best. Sorry to hear you are feeling sh*t. Take a break tomorrow perhaps?

 

[advfntrader]

40 days without a loss....how do you trade ?

 

[trader_dante]

A day trader at my prop firm had three years without a down day.

 

[shadowninja]

5000 pip stops?

 

[advfntrader]

see the trader on the news today that turned 7k to 7 million in 2 years !

 

[shadowninja]

I would say it's possible. If you were adamant that RBS was at its all-time low at 10p you could have put 7k on it and just hold for two years. It may well grow to 500p by then. Who knows. (Numbers may not add up but I don't give a ****.)

 

[Black Swan]

40 consecutive trading days of net profit s and today I suffered my first loss !!

It feels pretty s**t

Oh...:|

 

[Marwan2010]

A day trader at my prop firm had three years without a down day.

wow!!!

 

[Marwan2010]

see the trader on the news today that turned 7k to 7 million in 2 years !

not seen this! Can u send me the link

 

[arabianights]

A day trader at my prop firm had three years without a down day.

Bet it took him about a week to blow up

 

[Skill Leverage]

Bet it took him about a week to blow up

Actually he went on a 3 1/2 year losing streak.

 

[new_trader]

Funny to see how things in this forum have changed in the time since I've been a member.

40 consecutive days without a loss...3 years without a down day....suddenly anything in trading is possible when only 2 years ago posts like that would have been ridiculed into oblivion, like when another, now banned member, said he had over 200 consecutive winners....

 

[theSheik]

...late breaking NEWS...

the Earth has been found to revolve around the Sun

 

[advfntrader]

Rajesh Gill, ‘7 to 7’ day trader, awarded £20m for City fraud - Times Online

 

[Niove]

...late breaking NEWS...

the Earth has been found to revolve around the Sun

lies!

 

[Niove]

also to the op, this reminds me of a clasic dilemma: Assuming both have the same expected value which strategy would you choose, the one with small frequent profits and big rare losses or the one with big rare profits and small frequent losses?

 

[Skill Leverage]

also to the op, this reminds me of a classic dilemma: Assuming both have the same expected value which strategy would you choose, the one with small frequent profits and big rare losses or the one with big rare profits and small frequent losses?

Essentially it's irrelevant which one you choose, although I'm assuming you're angling for some sort of money management / psychological response, in which case I'd go for the former in both instances (although 'frequent' is pretty vague, and it would make a pretty decent difference if you're talking minutes or months)