hi,moneyzilla, i am doing so so. nothing to show off. Had some profit from shorting NASDAQ and Europe index, but have big floating loss due to Dow Jones bullish rally. no pressure on it though.
i think still have no feeling about trading wall street stock in dice after years study.
{quote} Ni hao wentao I too did 7 years of hell I agree with everything you have said. Very good thread, thank you for sharing. Your position sizing advice will be helpful to anyone who is going through the hell currently I too sometimes use stop losses and sometimes don't. Ofcourse you need to know how to unwind a losing position with minimal losses and that takes time and practice to learn how to make the correct decisions instead of reacting when the heat is on Like you I also sometimes doubledown on loser and scale out when profits come. Although...
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hi, doug..
lots to say about the psychology issue, but I don't know what to say when i touch the keyboard. to be honest, i don't have very serious psychology problem after i blowed my first account , because i have dramatically downsized my trade size since that day. so according my experience, small trading lot may solve half of the problem because i don't feel too much pain when price move is against me. similarly, i don't rush to liquidize floating profit when trend is apparently with me. now what about the rest of issue? i can't say i have good solution for it. i do believe fear is fueled by lack of information. the information is the direction of trend. newbies, Rockies, even experienced traders often got lost in trend. i don't need lots of screentime, however I spend most of the time to analyze, feel, and watch the trend. I know trend will change eventually, but i also believe primary trend won't change overnight. based on the belief, i don't panic even price is against me, i even have gut to average loss. time is up, i summerize my bullshit:
first, small trade size. easy, we can do it now
second, find the direction of trend and worship it. difficult, takes years
