How to lose at trading

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TygerKrane
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Postby TygerKrane » Mon Dec 06, 2010 3:44 pm

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

Nice one Scrattz,
It'll fit just right on a small sticky note :D

~Krane

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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aliassmith
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Postby aliassmith » Mon Dec 06, 2010 6:11 pm

scratty wrote: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


Brokerage houses are like casinos and when you make a deposit it is
similar to getting poker chips.

So now you join a poker tournament make some plays and you are up
about double what you bought in for :)

Who's money is it?

It is not your money until it is safe back home in your mattress. :lol:

And if you don't believe that then you probably never had a broker "close"
down and not give you back any of "your" money. :cry:
Trade Your Way as Long as It Makes Money!

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scratty
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Postby scratty » Fri Dec 10, 2010 7:29 am

Hi aliassmith

Thats the way to think about it, im with you! Consider it your money when you took it out of your Trading account into your bank account or under your pillow:lol:

aliassmith wrote:
scratty wrote: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


Brokerage houses are like casinos and when you make a deposit it is
similar to getting poker chips.

So now you join a poker tournament make some plays and you are up
about double what you bought in for :)

Who's money is it?

It is not your money until it is safe back home in your mattress. :lol:

And if you don't believe that then you probably never had a broker "close"
down and not give you back any of "your" money. :cry:
Lose professionally!

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