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Losing 20% live :(

  • #1
  • First Post: Dec 2, 2005 2:19am Dec 2, 2005 2:19am
I finally did it losing 20% on my live trades trying hard to be unemotional about it.

I've no trading system and gone into it as a blind pirate.

cause I wanted to test my emotion reaction to loss

I'll be on deck....
  • #2
  • Dec 2, 2005 2:57am Dec 2, 2005 2:57am
Yeah I know it's foolish move but emotional control is tested
  • #3
  • Dec 2, 2005 3:24am Dec 2, 2005 3:24am
What were you risking per trade percentage wise ? (Percentage of your pot of gold)
  • #4
  • Dec 2, 2005 3:31am Dec 2, 2005 3:31am
Hello Blackship,

How long have you traded demo and with what results?
  • #5
  • Dec 3, 2005 3:04am Dec 3, 2005 3:04am
my biggest drawdown so far was similar. what can I say. try to relax and play carefully and next week you will probably forget this problem
time is money! Z
  • #6
  • Dec 3, 2005 8:17am Dec 3, 2005 8:17am
Excellent reply, Zazzy - and good advice.
Capital Preservation is key to long term wealth accumulation
  • #7
  • Jan 31, 2009 2:08pm Jan 31, 2009 2:08pm
Quoting Blackship
I finally did it losing 20% on my live trades trying hard to be unemotional about it.

I've no trading system and gone into it as a blind pirate.

cause I wanted to test my emotion reaction to loss

I'll be on deck....
What was your risk%. I lost over 80% of my first account, and it was all because I didn't have a clue what to do live. On Demo i was doing great but on live, I blew it.
  • #8
  • Jan 31, 2009 2:51pm Jan 31, 2009 2:51pm
Quoting truckjrt
What was your risk%. I lost over 80% of my first account, and it was all because I didn't have a clue what to do live. On Demo i was doing great but on live, I blew it.
Don't be surprised if Blackship doesn't answer. He hasn't posted in years.
  • #9
  • Jan 31, 2009 2:57pm Jan 31, 2009 2:57pm
2005... blew out and washed out
Same Whore .... Different Dress
  • #10
  • Jan 31, 2009 3:18pm Jan 31, 2009 3:18pm
  •  zykas
  • | Joined Oct 2008 | Status: ... measure thrice, but cut once | 196 Posts
Quoting truckjrt
What was your risk%. I lost over 80% of my first account, and it was all because I didn't have a clue what to do live. On Demo i was doing great but on live, I blew it.



I may be wrong, but could it be that starting with a small live account (your real money) prepares one psychologically and emotionally much better to face the real live trading than the demo thing. Or how come when one has done so well in demo, only to blow his live account several times before being stable. There may be some reasons for this.
I like the Big Dogs because I trade like them
  • #11
  • Feb 1, 2009 6:52am Feb 1, 2009 6:52am
Quoting billflet
Don't be surprised if Blackship doesn't answer. He hasn't posted in years.
didn't even notice that the post was from 2005. what dumbass!

oh well.
  • #12
  • Last Post: Feb 1, 2009 6:56am Feb 1, 2009 6:56am
Quoting zykas
I may be wrong, but could it be that starting with a small live account (your real money) prepares one psychologically and emotionally much better to face the real live trading than the demo thing. Or how come when one has done so well in demo, only to blow his live account several times before being stable. There may be some reasons for this.
I agree, except with the blowing thru several live accounts. I think your first live account you should expect to lose. Unless you have previous experience day trading, I think nothing can prepare you like doing everything wrong and losing real cash from the get go.
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