Reasons for being a loser master | Page 6 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Master Entry + Bonus Entries w/ Tight Stops to Master Target 6 replies

Winner/Loser Index 3 replies

A Loser System Wanted 90 replies

Confessions of a Pip Loser 1 reply

Seasoned newbie and professional $$ loser 36 replies

Attachments: Reasons for being a loser master
Exit Attachments

Reasons for being a loser master

  • #101
  • Apr 18, 2016 12:10am Apr 18, 2016 12:10am
Quoting TwFXtrader
{quote} Okay just keep in mind that why you enter the trade. is it based on your strategy or your emotion. make it really clear if is the strategy then you might have to fix it if your account is going down.
thnxx for your advice...
  • #102
  • Edited Apr 19, 2016 2:52am Apr 18, 2016 1:02pm | Edited Apr 19, 2016 2:52am
Quoting sagor482
I know that I can be a winner and I have a profitabe strategy
Quote
reason of my lose : 1.emotion 2.not following mony management 3.over confidence 4.stupidity
If you really do have a profitable strategy -- and you're serious about improving your results -- then here are some commonsense ideas that have worked for me:

1. Regarding position size, don't overleverage yourself mathematically or emotionally. Find out where your emotional tolerance lies, and stay well within that limit. Know your worst case risk at the time of entry, and if you feel uncomfortable, either trade smaller or don't take the entry: scared money never wins. Getting the position size right at the entry can help to alleviate subsequent emotional issues with exits.

2. Make as many of your decisions as possible at the time of entry, when emotions are less compelling. Set a TP and SL if your strategy allows it. Then decide whether you really need to micromanage your exits, i.e. whether your strategy requires nuanced decisions based on new info (e.g. incoming economic data, newly forming S/R levels, etc) appearing as the trade unfolds. If the answer is "no, not really", then there is zero benefit to be gained by your staying at the computer. Simply set a SL, TP, trailing SL, or if your exit strategy is more complex (e.g. scaling out) then use an EA, and WALK AWAY. Have a sleep, go for a walk, spend time with family or friends, anything that gets your mind away from trading. Sure, you miss other possible setups while absent from the computer, but you must weigh a few missed opportunities against your current situation, and decide which is worse.

3. Even better, find yourself a trading buddy, somebody who is like-minded and humble enough that you can work compatibly with them. Two heads are often better than one, and you also keep each other positive, focused, motivated, disciplined and accountable, possibly even to the point that exiting your trades requires a joint decision. Skype is free (computer to computer) and also allows screen sharing. FF has 377,000 members, and if you have a strategy that's genuinely profitable, there are thousands of less knowledgeable traders who would be extremely keen to learn from you; use the Member's Lounge to solicit for candidates, conduct interviews and maintain a short list, depending on mutual availability. Trading can be a lonely and stressful activity, and having an objective party overriding harmful voices inside your head can be very helpful.
  • #103
  • Apr 18, 2016 1:08pm Apr 18, 2016 1:08pm
Quoting sagor482
i've lost again 😭😭😭.. how many time did I have to lose to be a gainer. every time I lose and control myself not to be greedy but its too hard. reason of my lose : 1.emotion 2.not following mony management 3.over confidence 4.stupidity
youll have heard this 100000 times but seriously... don't just jump into random trades because you think youve missed a train etc etc... and don't get stuck in small timeframes, it will always be the death of rookie traders... pick spots on the charts... simple S/R and just wait for them, don't jump in early, just wait... they will pay off more often than not... its a good place to start + most have been through it.. ive blown accounts as I'm sure most have
  • #104
  • Apr 19, 2016 11:51pm Apr 19, 2016 11:51pm
Quoting Don96
{quote} and don't get stuck in small timeframes, it will always be the death of rookie traders...
Great piece of advice. Shorter time frames lower than daily sucks and stressful. I was lucky to have a great mentor who has a nagative biase toward short time frames. He even wrote an article stressing the stress associated with shorter time frames. I don't even look at what's going on in 4 hrs. Trading daily, weekly & monthly candles really less stressful. You don't babysit your position; you take your position when market has closed if there is set, then set SL and target and you're done
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -5.8%
  • #105
  • Apr 20, 2016 1:57pm Apr 20, 2016 1:57pm
Quoting Mingary
{quote} {quote} {quote} Surely, "your job" is safe. I am certain some newbie trader (i.e. cannon fodder) is still going to open an account even if I posted some honest remarks
Quoting HeyYou
{quote} Ming may represent "our" fears, but he's far from being "wise". maybe one day
Mingary, good job!

Since I was labeled as being your long lost twin by Atokys I went through some of your posts and really don't feel bad about it. You expose how rotten the forex retail industry really is, unmask their marketing lies and expose the forex recruiters lurking around by putting them in overdrive just by a few words of truth they can't counter with facts.

Keep up your efforts. Thanks!
  • #106
  • Apr 20, 2016 2:11pm Apr 20, 2016 2:11pm
Quoting HudithePfupf
{quote} {quote} Mingary, good job! Since I was labeled as being your long lost twin by Atokys I went through some of your posts and really don't feel bad about it. You expose how rotten the forex retail industry really is, unmask their marketing lies and expose the forex recruiters lurking around by putting them in overdrive just by a few words of truth they can't counter with facts. Keep up your efforts. Thanks!
What's wise about gambling in the forex market, losing more and more for no reason ?
  • #107
  • Apr 21, 2016 4:33am Apr 21, 2016 4:33am
Quoting HudithePfupf
{quote} {quote} Mingary, good job! Since I was labeled as being your long lost twin by Atokys I went through some of your posts and really don't feel bad about it. You expose how rotten the forex retail industry really is, unmask their marketing lies and expose the forex recruiters lurking around by putting them in overdrive just by a few words of truth they can't counter with facts. Keep up your efforts. Thanks!

Keeping it real
  • #108
  • Apr 21, 2016 8:22am Apr 21, 2016 8:22am
Quoting Mingary
Keeping it real
'High Impact Member Top 2%'

Congrats Mingary! Your achievement is well deserved!

Can I call you Master Mingary from now on?
  • #109
  • Jun 4, 2016 1:19pm Jun 4, 2016 1:19pm
Quoting dkrock
you find in the Bible in Mark Chapter 4, and in the Gospel of Thomas.
the best advice every
  • #110
  • Jun 4, 2016 3:09pm Jun 4, 2016 3:09pm
The attached posters may help you.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Bruce-Lee-Quote-Right-time.jpg Size: 40 KB
Click to Enlarge Name: Bruce-Lee-Quote-Emotion.jpg Size: 69 KB
Attached Images
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #111
  • Jun 4, 2016 3:20pm Jun 4, 2016 3:20pm
Quoting vera
Follow these rules, it helps me: 1. Money is made by sitting, not trading. 2. Letting losses run is the most serious mistake. 3. You have to be willing to make mistakes regularly; there is nothing wrong with it. 4. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in. 5. Whatever happens in the stock market today has happened before and will happen again. 6. In this business if youre good, youre right six times out of ten. 7. Dont focus...
Not true.
You have to be willing to accept losing trades.
Mistakes must be avoided at all costs.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #112
  • Jun 4, 2016 3:24pm Jun 4, 2016 3:24pm
Quoting jen101
{quote} Yes, but it's entertaining. New suckers everyday.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #113
  • Jun 4, 2016 3:29pm Jun 4, 2016 3:29pm
Quoting vera
Follow these rules, it helps me: 1. Money is made by sitting, not trading. 2. Letting losses run is the most serious mistake. 3. You have to be willing to make mistakes regularly; there is nothing wrong with it. 4. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in. 5. Whatever happens in the stock market today has happened before and will happen again. 6. In this business if youre good, youre right six times out of ten. 7. Dont focus on making money, focus on...
Golden words .....
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -940
  • #114
  • Jun 10, 2016 2:47pm Jun 10, 2016 2:47pm
Great post , Haniover, one of the best. Take note, peeps

Quoting hanover
{quote} {quote} If you really do have a profitable strategy -- and you're serious about improving your results -- then here are some commonsense ideas that have worked for me: 1. Regarding position size, don't overleverage yourself mathematically or emotionally. Find out where your emotional tolerance lies, and stay well within that limit. Know your worst case risk at the time of entry, and if you feel uncomfortable, either trade smaller or don't take the entry: scared money never wins. Getting the position size right at the entry can help to alleviate...
  • #115
  • Last Post: Jun 13, 2016 6:41am Jun 13, 2016 6:41am
Inserted Video
0 traders viewing now