Dear Dhalsey,
Dinos has just replied to a thread you have subscribed to entitled - Quick reference for real trading profit. Tips that work - in the General Trading Chat forum of T2W Day Trading & Forex Forums.
This thread is located at:
http://www.trade2win.com/boards/general-trading-chat/5191-quick-reference-real-trading-profit-tips-work-new-post.html
Here is the message that has just been posted:
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---Quote (Originally by guantlet)---
I've been dabbling with "trading" for several years, couldn't get it to work, always losing small amounts, with some wins here and there.
Lately I've been trying to see where I've been going wrong. This week I had a couple of truly bad days, lost about 25% of my pot. but on Wednesday I had a Eureka moment. On Thursday, I was away again and right back into my bad habits and wrong headed ways. Realising I was going wrong, I refocused and by Friday I'd got back almost all of my previous losses.
When I say that I lost 25% of my pot, the pot is made up of roughly 50% starting stake that I opened the account with and the rest is winnings I've accumulated over the last 4 years. But as I say I've been stumbling in the dark, until now. I feel I am now ready to launch out a bit deeper, and test the waters. Any tips would be more than welcome.
On Friday I was up over £100 on the DOW, NO STOP LOSS..!!, went for a walk, basking in my new profit....came home, £100, had disappeared down to £2. Help..!! I looked at the charts hung on for grim death and made a profit of £104. Never again will I not set a stop loss.
---End Quote---
Hmmmm, don't want to preach, but sounds like you don't have a trading plan, I have a trading plan, every trade is thought out before I place the trade, I know exactly what my profit will be and what my loss will be if it a bum trade, I do that for every trade I take, gives me consistancy and enables me to have a relaxed persona, after placing the place, then I can go out and let it do what it will, only 2 outcomes, win or lose, but within my trading plan are my stats of every trade so I know what the % win/loss ratio is and am happy to take both winners and except losers as the % are in my favour, just a thought.
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