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Does Showing Your Account Effect Your Trading

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  • Does Showing Your Account Effect Your Trading Decisions?
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  • #1
  • First Post: May 23, 2016 8:03am May 23, 2016 8:03am
Letting Pride Dictate Your Trading Decisions

The problem of trader pride has been made much worse due to the Internet and social media. In the past, bragging about a trade to your brother-in-law was enough to keep you holding onto a winner that turned into a loser, but now I see legions of amateur traders trying to save face due to the predictions they made public on the Internet.

Theyre so scared about hurting their self-proclaimed reputation as a market expert they forget that true market experts suck up their pride and cut their losses fast.

Drop the ego and stop showing your account on social sites unless you trying to sell something. All traders have losing trades. Winning traders cut those losers quickly.
  • #2
  • May 23, 2016 9:01am May 23, 2016 9:01am
That is kind off personal though, it is like showing your bank account after all it is your money. It is nothing to do with pride. You put that shit on the internet you may have to talk to the tax man or some other government snoop. Most people want to keep that out of the web. So for me showing accounts in a public arena only convinces me that it is fake and not real or is some broker ploy to get people trading.

In my opinion lose or win why is it anyone's business. Can we not just have a healthy discussion, why does accounts have to come into it?
  • #3
  • May 23, 2016 9:51am May 23, 2016 9:51am
Quoting vanillaman
That is kind off personal though, it is like showing your bank account after all it is your money. It is nothing to do with pride. You put that shit on the internet you may have to talk to the tax man or some other government snoop. Most people want to keep that out of the web. So for me showing accounts in a public arena only convinces me that it is fake and not real or is some broker ploy to get people trading. In my opinion lose or win why is it anyone's business. Can we not just have a healthy discussion, why does accounts have to come into...
  • #4
  • May 23, 2016 10:15am May 23, 2016 10:15am
VOTE
  • #5
  • May 23, 2016 10:55am May 23, 2016 10:55am
No point in showing it to all the suckers.
You surely don't need their input or feedback.
  • #6
  • May 23, 2016 11:23am May 23, 2016 11:23am
Quoting The-Flipper
No point in showing it to all the suckers. You surely don't need their input or feedback.
  • #7
  • May 23, 2016 2:19pm May 23, 2016 2:19pm
The danger in showing a live trade or account is how it affects you psychologically. You may feel more pressure when you know your being watched and judged. Some can handle the pressure.. some can't, everybody is different.

No need to show your balance to anybody, unless your boasting about being rich... then I'll expect you to prove it or shut up!
Showing % gained or lost or profit chart is cool if you want to share that info.. A gain on a small account is just as great as a large account as long as its consistent.


Attached Image


I'll show you this.. won't tell you how much i've made or account ballance..
I won't share my live trades.
The only system that will work is one designed by and for yourself.
  • #8
  • May 24, 2016 3:50am May 24, 2016 3:50am
This is a very important question with an equally important underlying point.

The thing a trader should ask himself is, “Am I still learning to trade?” As long as a trader is mature enough to be completely honest with himself and answer “yes” (if that is the case) then what is the purpose of showing an equity curve at all? It’d be the medical equivalent of a junior doctor posting the result of his attempt at brain surgery. Apart from the fact that a junior doctor would be prevented from such activity, those around him would think he’d gone quite mad.

Maybe the more novice traders haven’t yet understood the reality that when we’re learning our craft, the equity curve bears no meaning whatsoever to our progress. I’d go as far to say that the relationship between the two is an inverse one. If people do attach significance to their equity curve during the steepest period of their learning, however, then it’s likely partially a result of mixing in the wrong company (I’m speaking from experience here btw).

Once we know how to trade, the equity curve will take care of itself. Those seeking funding may choose to reveal their performance; that’s up to them. In this case, and in direct response to the OP’s original question then I think, no, showing the account would not effect the trader’s trading. But put the boot on the other foot. Imagine someone who’s deep in the learning process, is really beginning to see some of the jewels in price-action for the first time, but who’s equity curve is still pointing down. If he published his equity curve and also tried to openly discuss some of the valid points that he may have then I’m almost certain he’d fall victim of the routine mockery we see sprayed across certain threads at FF. And in this situation I’m almost certain that the answer to the OP's question would be yes, publishing his equity curve would have an effect on his trading decisions.
  • #9
  • May 24, 2016 4:38am May 24, 2016 4:38am
I remembered last few years, I had several explorers opened to public to justify my own trading method as most traders prefer to judge by results, but till this 1 year I decided to closed every single explorer because trolls will say you are trying to sell something.

I actually came to this conclusion, a profitable trader do not need to prove anything to anyone because there's no point sharing our entries/exit, our risk management, and our direction bias for free to anyone anymore. I also encourage low post count, because when a trader post too much and attract attentions or debates, the trader will eventually reveal too much info. All these are hard work and time spent to get it to work. Trading is a business, we are here to make money, why should we share it for free.
The only winner is the one who survive the longest...
  • #10
  • May 24, 2016 5:14am May 24, 2016 5:14am
Quoting kinspk
I remembered last few years, I had several explorers opened to public to justify my own trading method as most traders prefer to judge by results, but till this 1 year I decided to closed every single explorer because trolls will say you are trying to sell something. I actually came to this conclusion, a profitable trader do not need to prove anything to anyone because there's no point sharing our entries/exit, our risk management, and our direction bias for free to anyone anymore. I also encourage low post count, because when a trader post too...
Agree, you have nothing to prove unless you are selling something. I like sharing but I really don't care what people think, the trading space has so much noise, that long-term most people end up doing the wrong thing and burn out. So just make your money in peace before the tax man gets you.
  • #11
  • Edited 5:51am May 24, 2016 5:40am | Edited 5:51am
Quoting kinspk
I remembered last few years, I had several explorers opened to public to justify my own trading method as most traders prefer to judge by results, but till this 1 year I decided to closed every single explorer because trolls will say you are trying to sell something. I actually came to this conclusion, a profitable trader do not need to prove anything to anyone because there's no point sharing our entries/exit, our risk management, and our direction bias for free to anyone anymore. I also encourage low post count, because when a trader post...
It got me thinking about forums(not referring to kinspk).

We declare we have no commercial intent other than as a trader in the markets, yet we wouldn't share our knowledge for free. Would we share it for a fee then ? If not, then why won't we share it for free ? (I'm sure there's going to be excuses bla, bla, bla.....)

I get to take YOUR money because you're stupid and if you got smart because of me then I must be a fool to enlighten you. How's that for justification ?

I got smart because there's someone out there foolish enough to let his EGO get the better of him to reveal his precious little secret to the public on this forum. Thank god ! there're lots of such egotistical members hanging around forums dishing out goodies, Santa Claus is working overtime year in year out. Two plus two gets four and four plus four gets eight......hmmmm

Word of caution - Careful not to touch the dung even with a 10 foot pole !

Big thanks to the coders for the tools and coding pointers, let's not forget this rare talented breed.

All we have to do is to feed their ego and collect the nuggets. What a happy camper am I !

Is this what forums all about ? What not to like about besides the occasional entertainment from the verbal fracas that blows out from too much testosterone in a thread.

About OP's question, I hope not lest we don't get to peek at the "entries/exit, our risk management, and our direction bias....." for free.
  • #12
  • May 24, 2016 5:46am May 24, 2016 5:46am
for the people who have a trade explorer and not selling nothing i ask you whats your reason for posting your trade explorer?
  • #13
  • Edited 6:25am May 24, 2016 6:14am | Edited 6:25am
Forum is an interesting place, be it you post your explorer or not, there's always someone to make something out of it. So what's the point of posting it. Few years back, when FF added explorer, it was initially used to back up our trading systems, and it was good to shut those fake losing veteran traders up. But as years go by, it seems, people are showing it to fulfill their ego or for commercial intent.

Forum nowadays is just a place to kill boredom, but I believe most use the calenders and news while only reading threads that caught our attentions.

It always amuse me when people debate in forum. It doesnt even grow their account, should spend more time doing what they need to improve their trading skills.

Btw, showing an explorer shouldn't affect one's trading emotionally unless they have a motive to prove something. Trading is just like a job, open trade and close trade according to your plans. What make a difference is you have more profit vs loss.
The only winner is the one who survive the longest...
  • #14
  • May 24, 2016 6:22am May 24, 2016 6:22am
Quoting CindyXXXX
{quote} What's your reason for posting on FF if you are not selling anything ? =P
most newbies come here to try to learn something what every that might be
  • #15
  • May 24, 2016 6:46am May 24, 2016 6:46am
Quoting kinspk
Trading is a business, we are here to make money, why should we share it for free.
I often struggle with this too. In my own journey I sometimes try and share stuff (for free) in real time but I do this for a specific reason, which I think feeds back into the OP’s original question about equity curve.

I was once in a skype room with a guy who’d publicised at least one equity curve (if memory serves me correctly it was a demo account), the results of which were spectacular. Added to this a lot of “after the fact” trading (equally spectacular results), reasonably well-written posts about the road to achieving such results etc, that I firmly believed this particular corner of the Internet was the place to learn. I won’t go into specific reasons why I was totally wrong about that whole period of my journey, suffice to say, I left.

I immediately came to FF and a trader called redsword11 (who was/is no longer posting). To the best of my knowledge he’d never posted an equity curve, but he had posted a huge amount of charts in realtime before the fact. He’d also posted in very clear and concise terms about certain elements of supply/demand trading (which is something I’ve followed since about 2012) that immediately addressed the total confusion my trading mind was in at that time. Importantly for me, if redsword11 hadn't shared what he had for free, I wouldn’t have started out on a new path that is, over time, proving to be the right one for me. Truth is, I’d have probably thrown the towel in.

It’s a very tricky debate because there’s obviously a fine line between sharing realtime data and publishing what could be construed as “signals”. I also understand the position of not wishing to share something for free that has cost blood, sweat and tears to achieve. But I for one remain ever grateful to “red” that he left the clues he did for me to work on.
  • #16
  • May 24, 2016 7:35am May 24, 2016 7:35am
Quoting simond2002
{quote} I often struggle with this too. In my own journey I sometimes try and share stuff (for free) in real time but I do this for a specific reason, which I think feeds back into the OPs original question about equity curve. I was once in a skype room with a guy whod publicised at least one equity curve (if memory serves me correctly it was a demo account), the results of which were spectacular. Added to this a lot of after the fact trading (equally spectacular results), reasonably well-written posts about the road to achieving such results etc,...
True. I always skip reading threads that post delayed charts analysis, showing off their "holy grail indicator". I don't really give a shit even if they win a million per trade. What can catch my attention are those who can post a live entry and exit, be it a losing or winning trade, at least they are confident with their own trading plan.

Below is a quote by Marty Schwartz from Market Wizards.
Quote
Most people, in most careers, are busy trying to cover up their mistakes. As a trader, you are forced to confront your mistakes because the numbers don't lie.

A trader should be able to accept that there is nothing right or wrong in the market, because the market is so amazing that, regardless what method you use, there will be 50% of the people proving you right while another 50% proving you wrong. Once an individual understand this, he/she won't be so bother to prove to anyone or justify a fact.
Attached Image
The only winner is the one who survive the longest...
  • #17
  • May 24, 2016 7:56am May 24, 2016 7:56am
Quoting kinspk
{quote} True. I always skip reading threads that post delayed charts analysis, showing off their "holy grail indicator". I don't really give a shit even if they win a million per trade. What can catch my attention are those who can post a live entry and exit, be it a losing or winning trade, at least they are confident with their own trading plan. Below is a quote by Marty Schwartz from Market Wizards. {quote} A trader should be able to accept that there is nothing right or wrong in the market, because the market is so amazing that, regardless what...
Wise words
  • #18
  • May 24, 2016 1:51pm May 24, 2016 1:51pm
Quoting PoundTrader
for the people who have a trade explorer and not selling nothing i ask you whats your reason for posting your trade explorer?

For the people who have trading systems and not selling anything i ask you whats your reason for posting your trading systems ?
For the people who have one liners wisdom quotes and posting it , i again ask you what your reason for doing that ?
For the people .... i can go on and on .....

Reason could be the same as the answers i asked about above questions ?

Persons reason for posting trade explorer could be anything from Ego to selling something , to establishing long term track record ....but so what ,
It gives most important thing, which is Hope or Belief that it can be done . Even if there are few people with long term explorer attached showing consistent profit , everyday we take a knock after knock and when our belief is shaken , we go to that specific explorer and we realize that its possible . It helps us keep on going.

My point is whatever the motive of person for attaching trade explorer , whether he wants or not ( Knowingly or unknowingly ) , he provide good value to the forum just by attaching his or her trade explorer. At least you have scientific proof backing up your shit. Its way better than things mentioned on first paragraph.

If person blows his account you will learn that what not to do , and if person is consistence you will learn what to do ...all with scientific data. Now , tell me which part of FF will provide you this kind of wisdom.

So, whatever your motive , attaching your trading explorer can never be a bad thing. It takes certain amount of courage to put your money where your mouth is and that's what separates real traders from wannabes.
  • #19
  • May 24, 2016 7:08pm May 24, 2016 7:08pm
Quoting ronaleo10
{quote} For the people who have trading systems and not selling anything i ask you whats your reason for posting your trading systems ? For the people who have one liners wisdom quotes and posting it , i again ask you what your reason for doing that ? For the people .... i can go on and on ..... Reason could be the same as the answers i asked about above questions ? Persons reason for posting trade explorer could be anything from Ego to selling something , to establishing long term track record ....but so what , It gives most important thing, which...
( If person blows his account you will learn that what not to do , and if person is consistence you will learn what to do) how would you learn if your not trading the same system?
  • #20
  • May 24, 2016 7:10pm May 24, 2016 7:10pm
Quoting kinspk
{quote} True. I always skip reading threads that post delayed charts analysis, showing off their "holy grail indicator". I don't really give a shit even if they win a million per trade. What can catch my attention are those who can post a live entry and exit, be it a losing or winning trade, at least they are confident with their own trading plan. Below is a quote by Marty Schwartz from Market Wizards. {quote} A trader should be able to accept that there is nothing right or wrong in the market, because the market is so amazing that, regardless what...
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