How to lose at trading

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scratty
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Postby scratty » Wed Dec 01, 2010 8:58 am

Thanks for the input TRO. Very helpfull tool!
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MightyOne
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Postby MightyOne » Wed Dec 01, 2010 10:12 am

pika wrote:
scratty wrote:If you trade on a weekly base and you lose your first trade you lost "your" money compared to the start of the week! => Cut the Risk.

I only increase risk when i can play with "their" money on a weekly base. This is the case when i am in profit. But i dont think about it until i am there. I just keep losing professionally. This is the main philosophy.


There is no such thing as "your" money vs "their" money in your account. There is only "your" money at risk when you trade. Conceptually you can separate your money and the money you win from the market, but this way of thinking is flawed because you are discounting the value of "their" money which is not true, since a dollar is worth a dollar regardless of which account the dollar is in.


Their money is discounted, Scratty didn't have to slave to get it :wink:

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scratty
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Postby scratty » Wed Dec 01, 2010 12:27 pm

Hi MO

Its an honor to see your post in my topic!

What do you think about the MM philosophy? Thanks in advance Master ;-)
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scratty
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Postby scratty » Sun Dec 05, 2010 10:28 am

TheRumpledOne wrote:MightyOne posted this in another thread:

http://www.excaliburforex.com/Trading-Articles.html


You want to tell my MOs name is Bill? I thoght he mentioned Joe from his Mighty Joe Video storie :roll:
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MightyOne
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Postby MightyOne » Sun Dec 05, 2010 10:56 am

scratty wrote:
TheRumpledOne wrote:MightyOne posted this in another thread:

http://www.excaliburforex.com/Trading-Articles.html


You want to tell my MOs name is Bill? I thoght he mentioned Joe from his Mighty Joe Video storie :roll:



http://www.youtube.com/watch?v=v1c2OfAzDTI

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Shinobi-X
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Postby Shinobi-X » Sun Dec 05, 2010 11:51 am

@MO
(the link) is very creative way to say no LOL
The gap between reality and dream is called action.

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scratty
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Postby scratty » Mon Dec 06, 2010 7:45 am

double
Last edited by scratty on Mon Dec 06, 2010 9:04 am, edited 1 time in total.
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Postby scratty » Mon Dec 06, 2010 7:46 am

double :oops:
Last edited by scratty on Mon Dec 06, 2010 9:05 am, edited 1 time in total.
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Postby scratty » Mon Dec 06, 2010 7:48 am

Here is what William Eckhardt says about "their" money:

It is a common notion that after you have profits from your original equity, you can start taking even greater risks because now you are playing with "their money". We are sure you have heard this. Once you have profit, you're playing with "their money". It's a comforting thought. It certainly can't be as bad to lose "their money" as "yours"? Right? Wrong. Why should it matter whom the money used to belong to? What matters is who it belongs to now and what to do about it. And in this case it all belongs to you.

If you take the "wrong" but psychological helpfull "their" money out and just say. If you are winning then you can push it with more aggresive position sizing and when you are loosing you slow down and operate with smaller sizes. I think this is the same thing in the end. But probably this makes it easier to belevie because of the "wrong" THEIR MONEY wording :lol:

TheRumpledOne wrote:MightyOne posted this in another thread:

http://www.excaliburforex.com/Trading-Articles.html
Lose professionally!

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scratty
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Postby scratty » Mon Dec 06, 2010 9:12 am

Also like this one:

Instead of hoping he must fear; instead of fearing he must hope. He must fear that his loss may develop into a much bigger loss, and hope that his profit may become a big profit.?

Most Traders fear to lose their profit (too quick profit taking) when they are winning and hope to get profitable with their losses (too patient with losses). Its not the win-rate that make you a profitable trader! Its the win-size...

NOK
in profit=> fear to lose it again
in loss => hope to turn in profit

OK
in profit=> hope to turn in a big winner
in loss => fear to lose more
Lose professionally!

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