spanish89...

on any spanish89 discussion threads would you like to -

  • close all threads and bin any new threads started

    Votes: 10 12.7%
  • leave them open

    Votes: 29 36.7%
  • couldn't care less

    Votes: 40 50.6%

  • Total voters
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trader_dante

Veteren member
4,535 1,479
I've been reading his thread over on ET. I think he is actually showing a lot of promise in his development. He really is improving and showing himself to be flexible to adapt to new market conditions and acts decisively and confidently. But what impressed me the most was in a post he wrote:

It may sound silly and absurd, but if you are a newbie/unsucessful , and you go to your virtual account and actually actively try to LOSE as much money as possible it not as easy as it sounds!

This is actually incredibly sound advice. We were given a similar exercise when we joined our prop firm. Try to lose as much money as you can without simply entering and exiting (thus losing the spread).

I cannot explain why it works but as a hands on exercise, it delivers perhaps the quickest and most powerful lesson of any I have seen.

Tom
 
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porph

Well-known member
278 57
I've been following his progress and chatting with him and I think he's doing very well. Fair play I say.
 

new_trader

Legendary member
6,665 1,489
I've been reading his thread over on ET. I think he is actually showing a lot of promise in his development. He really is improving and showing himself to be flexible to adapt to new market conditions and acts decisively and confidently. But what impressed me the most was in a post he wrote:

It may sound silly and absurd, but if you are a newbie/unsucessful , and you go to your virtual account and actually actively try to LOSE as much money as possible it not as easy as it sounds!

This is actually incredibly sound advice. We were given a similar exercise when we joined our prop firm. Try to lose as much money as you can without simply entering and exiting (thus losing the spread).

I cannot explain why it works but as a hands on exercise, it delivers perhaps the quickest and most powerful lesson of any I have seen.

Tom

Spanish89 the legend lives on! If you were actually forced to pay out any money you make during the exercise you would feel the pressure just the same. It's just that in this exercise, 'losing' takes on a different meaning.
 

trader_dante

Veteren member
4,535 1,479
As Spanish says, it's as hard to deliberately LOSE as it is to deliberately WIN.

This is somewhat of a big revelation.
 

new_trader

Legendary member
6,665 1,489
As Spanish says, it's as hard to deliberately LOSE as it is to deliberately WIN.

This is somewhat of a big revelation.

Not to me. In order to deliberately lose, you need to place a SELL when you think the market is going up. That's all. It still requires judgement of some sort doesn't it?
 

BSD

Veteren member
3,819 985
I haven't been reading his thread at ET, but if I remember correctly he had sthg like a thousand pounds in his account or a figure round about there anyway, and its been MONTHS since he was here and there were lots of predictions of his imminent blow-up making the rounds at the time, and yet he is still making a living off of that yonks later ?

Now to me - and admittredly I don't know any details here - that does not sound like being even remotely down to luck...

He must have been on quite a steep learning curve, and even then, with your price levels over there in the UK - rents etc - , what he is pulling off is nothing short of amazing, to be honest: meeting his living costs monthly from a 1K account !
 

wasp

Legendary member
5,107 879
Are we talking trying to let the losers run and cutting the winners short or set targets for these losers? Makes a big difference.

As for Spanish, good on him and well done, totally blew all the theories out the water and if I wore a hat, I'd tip it!
 

new_trader

Legendary member
6,665 1,489
Great. This is all we need now. A thread about losing strategies...

I have a good MA crossover system that works well..
 

FXSCALPER2

Established member
964 280
As Spanish says, it's as hard to deliberately LOSE as it is to deliberately WIN.

This is somewhat of a big revelation.


That is something I have been telling people for years. The guy clearly has a natural gift for this stuff.

Having said that, there is one way to make sure you lose very quickly: leverage to the hilt and don't use a stop. What he is saying, of course, is don't leverage and get out when it looks like you are wrong.
 

1Pipped

Well-known member
273 35
Excellent way of looking at things. The easiest way to 'win' that game and lose all your cash on purpose (or not) is to risk too much.

Think of the time you were playing heads up on the final table of a poker tournament, against that lucky [email protected] whos been calling all in bets and hitting a seemingly endless run of 20/1 draws all night.

He's got all the chips and youve got 8 blinds left... even though he is rubbish player (and youre the best in the world, obviously) your still highly probably going to lose because you are essentialy being forced to make bigger bets than your bankroll (8 blinds) can stand.

The 'winning' strategy for this lose all your cash experiment, highlights the top three tips for risking money:

1) Always bet within your bankroll!
2) Always bet within your bankroll!
3) Always bet within your bankroll!
 
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new_trader

Legendary member
6,665 1,489
Pointless exercise

A very complicated way of saying that most people don't have a clue what they are doing, whether they are trying to win or lose. In order to deliberately do something wrong, you have to know how to do it right, surely?? I fail to see the significance of this "experiment". If a person doesn't make a connection between "right" and "wrong" then it is an utterly pointless exercise. Get a child to trade and don’t tell them what the object of the game is and see what the results are. Then tell them the idea is to reduce the amount of money in the account but have a programmer make the amount read the opposite of what it normally does, ie/A trade showing a profit when it should be showing a loss. Will that make a difference?
 

RedGreenBen

Well-known member
268 52
As Spanish says, it's as hard to deliberately LOSE as it is to deliberately WIN.

This is somewhat of a big revelation.

It's a bit embarrassing to admit to, but the way I started making money was to do the exact opposite of what I had been doing to lose money (replace long/short, stop/limit).

If your losses are >> spreads then the logic is flawless. The ones that are in real trouble are those that break even!

Ben
 
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new_trader

Legendary member
6,665 1,489
It's a bit embarrassing to admit to, but the way I started making money was to do the exact opposite of what I had been doing to lose money (replace long/short, stop/limit).

If your losses are >> spreads then the logic is flawless. The ones that are in real trouble are those that break even!

Ben

Ah! Funny you should mention this because I was going to add that as a caveat! I agree, if you were doing EXACTLY the wrong thing at EXACTLY the right time, every time, then yes, doing the opposite works. But, as you rightly say, those that sometimes get it right but don't know why just simply cannot do the opposite. Like I said, the connection between "right" and "wrong" must be made before doing the opposite will help. Trading, being a game of strategy, it is impossible define the opposite other than with Buy or Sell. What is the opposite of entering too early? Is it entering too late? In which case doing the opposite won’t really help will it? It's more of a Goldilocks situation where you have to get things just right!
 
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