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Moment that changed you from losing to winning trader

JojoW
Jun 13 2015 at 15:15
posts 94
Hi guys,
Tell us, what was the breaking moment in your trading, when you changed from losing to profitable trader.
My moment was, when i stopped using stoplosses.

vithca
Jun 15 2015 at 07:22
posts 5
Can I assume from the stunning silence that there aren't any profitable traders here :-)

JojoW
Jun 15 2015 at 08:46
posts 94
There is only around 5% of profitable traders, so it will take longer time, before they start posting interesting contrinbutions.

theHand
Jun 15 2015 at 11:04
posts 365
There's no moment, no single thing you do. It's a very long journey with no end.

JojoW
Jun 15 2015 at 11:49
posts 94
theHand posted:
There's no moment, no single thing you do. It's a very long journey with no end.


Don't agree, there is atleast one AHA moment on the long journey when you stop actually losing money and instead earning profits.

theHand
Jun 15 2015 at 11:53
posts 365
Thomas Edison might disagree.

JojoW
Jun 15 2015 at 12:48
posts 94
Guess, because he wasn't trading, right?

mibw
Jun 15 2015 at 14:39
posts 1
JojoW posted:
Hi guys,
Tell us, what was the breaking moment in your trading, when you changed from losing to profitable trader.
My moment was, when i stopped using stoplosses.


If you're not using stoplosses, then the next question is 'How long will it take for you to lose your whole account?'

I know it is a huge temptation to just avoid stoplosses and let your trades open indefinitely. That strategy, combined with grid and/or martingale, can work for sometime, but it always leads to disaster in the end.

Let me give you my own answer: I started to win when I studied the basics of trading, learned to program my own robots and changed all my trading from manual to automatic, with my own indicators and strategies. This is not to say that manual trading cannot be successful, it was just to stressful for me.

theHand
Jun 15 2015 at 17:39
posts 365
@JojoW

He learned. Same thing we do in trading. There's only one way to learn. All those times you burned your fingers, so you don't put it on the stove anymore. And eventually it's not so much what you do, it's what you don't do. There's no 'Aha..!' moment. Just a whole bunch of burned fingers.

JojoW
Jun 16 2015 at 06:59
posts 94
mibw posted:
If you're not using stoplosses, then the next question is 'How long will it take for you to lose your whole account?'

I know it is a huge temptation to just avoid stoplosses and let your trades open indefinitely. That strategy, combined with grid and/or martingale, can work for sometime, but it always leads to disaster in the end.

Let me give you my own answer: I started to win when I studied the basics of trading, learned to program my own robots and changed all my trading from manual to automatic, with my own indicators and strategies. This is not to say that manual trading cannot be successful, it was just to stressful for me.


If you are using stoplosses or not at all it's not important. What's important is to know when you are wrong and when to close the trades and of course always favorable reward\risk ratio at any given trade. Not using the stoplosses and managing my trades manually just spares me from all those losing trades (caused by short term volatility) that trigger your stoplosses only to turn into your direction after few pips. Hint: just look how many times strong supports/resistances are penetrated and not closed above/below.

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