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Is losing a requirement to be successful?

  • #41
  • May 21, 2007 11:52pm May 21, 2007 11:52pm
Quoting Gwan
it is not necessary to do that,

once upon a time, i win a bit better than prediction, and wait to loose it.

than i realize, loosing is not a thing that got to be there
nice.
BAM BAM BOOM! -bravado
  • #42
  • May 21, 2007 11:53pm May 21, 2007 11:53pm
Quoting Takisd
Most of the traders I know how wiped out once, and they are now very successful.
wrong.
BAM BAM BOOM! -bravado
  • #43
  • May 22, 2007 12:04am May 22, 2007 12:04am
losing is just part of trading.

it is not *required*.
to blow ones account=becoming a better trader, is silly.

it happens though.

if you become a better trader after blowing your account, it wasn't because you blew your account once, twice or beyond.

it's because you just kept trading.
BAM BAM BOOM! -bravado
  • #44
  • May 22, 2007 12:38am May 22, 2007 12:38am
It makes you humble, an essential degree demanded by the market to be successful.
  • #45
  • May 22, 2007 1:15am May 22, 2007 1:15am
Good question

I say Yes because it happened to me. I thought I had a plan, I thought indicators were great.

Since, no indicators, only price action, T/L, Fibo and S/R. Why? Because they work!

That and A good money management (RR and exit strategies) = key to success

I took losses that provided a lot of (negative) excitment.

Since I've managed o stick to the plan and it's all become boring but profitable. Some say this is the key! I agree.
  • #46
  • May 22, 2007 1:21am May 22, 2007 1:21am
Quoting Stuartesque
It makes you humble, an essential degree demanded by the market to be successful.
i suppose some people need that. but blowing your account is not required. they just wiped their account. nothing more. nothing less.
BAM BAM BOOM! -bravado
  • #47
  • May 22, 2007 1:56am May 22, 2007 1:56am
I can't speak for everyone, but I tend to learn more from my mistakes, so I voted yes.
  • #48
  • May 22, 2007 5:50am May 22, 2007 5:50am
  •  DOH!!
  • | Joined Apr 2007 | Status: Currently Perplexed... | 1 Post
Hello,

First post and will vote NO. Why, well, don't want to lose money really, BUT in saying that, it is only when I am in pain I will change so therefore, with some projection, if my 'trading style' is detremental to my balance then pain will be required to change. Loss of Money=Pain, for me most likely.

BUT (again) (i am lucky don't have money to trade until possibly end of year, so now can only soak up and learn and trial as much as possible) If I learn from others, find a mentor maybe, create discipline, follow a system then hopefully I don't have to lose everything in order to succeed. Maybe losing is required but not the lot. I interpret the poll (nearly spelt poll, pole!) as having to lose everything.

Enjoy reading all posts, hope I can skip on in to the 5% club.

I wish everyone the best.
  • #49
  • May 22, 2007 6:17am May 22, 2007 6:17am
i have never lost a trade in my live account and i never will.....my money manage don't allow me to close trades with a loss....i keep my trades open till they get filled....
  • #50
  • May 22, 2007 6:35am May 22, 2007 6:35am
Quoting iandekoker
my money manage don't allow me to close trades with a loss....
It's interesting you should say that.

Another trader once said that same thing to me.

He now works in a call centre.
  • #51
  • May 22, 2007 6:52am May 22, 2007 6:52am
Quoting the_wizard
It's interesting you should say that.

Another trader once said that same thing to me.

He now works in a call centre.
LOL.

But wizzard, it can be done.

If a person who has a 1 mil account, is trading 1 mini lot per trade and never trade more than 2 pairs at a time. I am sure that guy doesn't have to close a trade when it's not in his favour. :
  • #52
  • May 22, 2007 8:55pm May 22, 2007 8:55pm
You will always lose money in this business. The only difference is successful people lose less than they gain. Newbies lose more than they gain.
  • #53
  • May 22, 2007 8:59pm May 22, 2007 8:59pm
"Is losing a requirement to be successful?"

NO.

 Only understanding that you may and probably {on occassion} very well will, is a requirement to be successful
  • #54
  • May 22, 2007 10:35pm May 22, 2007 10:35pm
"I looked into the face of triumph and saw scares of calamity, eyes of doubt and trembling lips of dread. 'Where is your courage', I asked. Truimph replied, 'It's in my back.' "
Mark Olivero


"You must lose to try again.
You must try again to win.
You must win again to not lose again."
KudzuFX

I figured out that I lose more when I tried to see how much I can get and now I win more when I try to see how much I can keep.

Blew 2 accounts, 3rd time is a charm. Growing, growing, growing.
  • #55
  • May 22, 2007 11:01pm May 22, 2007 11:01pm
I voted NO it's not a requirement. But I do believe it is part of trading.
I'm a disciplined trader and that's the only way I trade.
  • #56
  • May 23, 2007 12:29am May 23, 2007 12:29am
I vote no. An almost absolute certainty, but not a requirement. Doesn't have to be a requirement--it'll happen anyway.
  • #57
  • May 23, 2007 3:54am May 23, 2007 3:54am
Quoting the_wizard
It's interesting you should say that.

Another trader once said that same thing to me.

He now works in a call centre.

lol....i will still be trading in 40 years from now...just make sure u can do the same....
  • #58
  • May 23, 2007 3:57am May 23, 2007 3:57am
Quoting zobo
LOL.

But wizzard, it can be done.

If a person who has a 1 mil account, is trading 1 mini lot per trade and never trade more than 2 pairs at a time. I am sure that guy doesn't have to close a trade when it's not in his favour. :

you are a smart man...if you follow that principle you will become a wealthy trader...being only 1% of the population that makes a excellent living of trading.....as for the rest...i suggest they rather spend their money at the casino...at least they get free drinks and snacks just before the casino takes all their money...on trading they dont even get free drinks or snacks....lol
  • #59
  • May 23, 2007 4:01am May 23, 2007 4:01am
Quoting the_wizard
It's interesting you should say that.

Another trader once said that same thing to me.

He now works in a call centre.

oh and by the way...i made 800 pips in april 2007...WITHOUT any losses...

hey but see uf your friend can organize me a job at the call centre...looks like i might need it soon...cause i am sure you made more pips....lol
  • #60
  • May 23, 2007 4:47am May 23, 2007 4:47am
Quoting iandekoker
oh and by the way...i made 800 pips in april 2007...WITHOUT any losses...

hey but see uf your friend can organize me a job at the call centre...looks like i might need it soon...cause i am sure you made more pips....lol

If you are so confident that you will never lose in a trade, you can borrow money from banks or family and friends to trade. I am sure you can win much more than the interest paid to the bank.


p/s. Don't borrow money from bank to trade unless you are 100% sure you can win more than the interest from the bank.
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