Why most Lose Trading?

[Claudia123]

hi,
how much do i have to have so i can start day trading? minimum£ ?

Try ETX they give you £100 to start with.

 

[mb325]

http://www.trade2win.com/boards/forex-first-steps/42814-90-95-lose-money-forex-market-6.html

http://www.trade2win.com/boards/general-trading-chat/69732-why-do-so-many-traders-lose-money.html

http://www.trade2win.com/boards/for...t-traders-lose-real-odds-winning-trading.html

http://www.trade2win.com/boards/psychology/23721-how-lose-money-trading.html

http://www.trade2win.com/boards/foyer/21966-why-do-people-lose-money-market.html

I charge a finders fee of £10 per thread. But for a small charge of £50 i'll tell you how i found them! And no it didn't take hours of trawling through the various boards...in fact it took 0.03 seconds!

 

[Black Swan]

I still think your original comment was a load of tosh :cheesy:. Turtle trader Russell Sands broke even in a couple of his years, yet he averages 80%+ p.a. What i am saying is, you can only take out of the market what it is willing to give you. 30% could be deemed as a good return if market conditions were not favourable.

I see this statement thrown around and don't fully agree with it, I likes the zen like mind set, but have always disagreed with the passive undertone...IMO 30% return on 100K of capital FULLY 'EMPLOYED' in, for example, the forex market is a poor return...
Again, at the risk of repetition, using the model outlined earlier, even the 15K capital is simply not nec. other than as a mental crutch...

 

[barryb]

I see where you're coming from, however as this is in the newbie/learning section, it should be noted that a 30% return is a very solid base to build from.

 

[Black Swan]

I see where you're coming from, however as this is in the newbie/learning section, it should be noted that a 30% return is a very solid base to build from.

Barry, I did make the clear in a post last night that the strat. I suggested should not be used by new traders and perhaps the tangent this has veered off on isn't ideal for first steps.
Again 30% return on £100K 'investment' is beyond stunning, it's out there with Pluto, but as a return on, for example, fully commited forex trading IMO it's poor...IF that 100K is totally committed. Having said that if someone is making (part time) 5K on 15K employed; to pay for a few bits and take wife kids on holiday once a year, that's pretty cool...
Anyhow gotta go, need to figure out what to do re. my Jap pairs...

 

[barryb]

Good luck.

 

[virtuos0]

I agree with barry, this is exactly the kind of stuff newbies don't need to hear. It just encourages the same old overleverage and undercapitalisation.

All the SB companies will be creaming themselves when reading this thread, at the prospect of another hoard of idiots trying to live the dream off their £500 accounts.

 

[ifuel]

Lack of money management and being ready for the psychological aspect of trading has definately killed a lot of accounts

 

[pjFX9819]

set a tight loss per trade and get out the minute it hits it. Dont think it must come back, why must it? Get out, save your cash, re enter when your setup is correct again!

 

[ifuel]

So true pjFX. Moving stop losses after a trade has been entered is not a good way to go...

 

[gabylicious]

Well I think that when you are a more experience trader you understand better what are the risk worth taking, so you avoid many of the newbie mistakes, like holding too long a position during a news release

 

[ifuel]

Well I think that when you are a more experience trader you understand better what are the risk worth taking, so you avoid many of the newbie mistakes, like holding too long a position during a news release

Can be good at times, but most of the time I agree. Get out fast, or at least move stop loss fast if the trade is going in the right direction.

 

[neil]

Don't use too many Indicators

 

[Black Swan]

Don't use too many Indicators

there'll be some bright spark on 'ere who reckons they can still see PA on that chart...

 

[subarashi]

Think of fishing! Losing hooks and line is an occupational hazard; what you want to avoid is losing your rod. That means kill losing trades quickly because the decision to close is the only control you've got and you might as well exercise it on a losing trade. Leave those trades which are growing well alone.

Don't under-estimate the trading costs and don't trade needlessly.

 

[gabylicious]

Can be good at times, but most of the time I agree. Get out fast, or at least move stop loss fast if the trade is going in the right direction.

I think that is very important tip, and I haven’t seen it much in the forum, when you open a position you have to “maintain” it, if the trend is moving move the floor with it, that way you are gonna have more profit since you are gonna close higher than you entered