Am I just lucky or on to something?

[watchdaride]

Just remember you cant win all the time cut your losses quickly. It sounds simple but if a trade goes against you 60 pips and comes back you feel good about holding on to the trade. The next time it might not. So dont feel bad if you loose some on a trade and then it came back.

[tcrouch]

Yeah, I just lost 2 trades in a row that turned the second I made them. I finally cut my losses and said "Whatever". The one thing I *DO* know is that just like there is always tomorrow, and always more money to be made. I started at $980 and went to $1680 in 16 days. I'm back down to $1430 but my head says, "Hey, you did it before, you can do it again!"

So all in all, I don't worry about losses, as long as they are scattered in between wins.

[ArnieConan]

You're up 46% in 3 weeks, that's pretty damn good, imo. However, you're finding out that the hardest part of trading is not making money, it's holding onto it.

[ajhardesty]

Originally Posted by ArnieConan

...trading is not making money, it's holding onto it.

Putting it all in perspective, here is a little story:

A fellow goes to race track one day.

He bet $2 on the first race and won big.

He then took the entire amount and bet it on the second race. He won again.

He then took the entire amount and bet it on the third race. He won again.

He repeated that same process, with the same results for the next five races.

On the ninth and last race of the day, he was up 3.5 million dollars and again bet the whole thing.

He lost.

When he got home, his wife asked, "How did you do at the track today?"

He replied, "I lost two dollars."

[sunabeach]

tcrouch,

So all in all, I don't worry about losses, as long as they are scattered in between wins.

To paraphrase Yoda, "You will, you will".

Not to scare you but it is the losses that you need to watch for, not the profits.

Sunabeach

[tcrouch]

Agreed Suna. I probably could have stated it better, and actually it was said pretty much tounge-in-cheek.


A single loss can easily wipe out a days, weeks, or months worth of wins. (or so I've heard). I do not take the losses lightly, nor for granted, but my point was that I am also not going to let them change my outlook on this venture or my style of trading as long as the wins outnumber the losses and they are within ranges of each other in terms of pips.

I also like the story about the $2 and the race track. If I was "working" at this to earn a living, it would be different. But I'm not, so it's ok if if I lose now and then, even if it's big.

[Clarks brother]

Hi Tony, I think the smartest thing you're doing is taking a small profit. 15 to 20 pips is good enough since the 4X market is to volatile. Most of our problem in trading the 4X is we get too greedy. I think this is a natural reflex. I've been paper trading for quite some time and I've just come to that conclusion and pulled myself in to 15 to 20 pips profit and Limit out. It's working much better. I personally use Vant. Pt. and I've also come to the pt. where I've cut down on the number of prs. I trade to 1 or 2. I can send you a money management calculator that I think is pretty good if you'd like.

[mrbrint]

yeah what youve done is fantastic, it happens when iit happens. I opened my acct in nov. I started with 1750. Ive seen it as low as 1500 2ce, and as high as 2400 2ce. To me it was also pretty relaxed on whether I lost the money, but at the same time I learned some lessons very quickly which is the only reason why my acct is again at over 2400$. Enjoy the success and keep learning