Current returns for 2008/09 financial year?

[MRC & Co]

Also think of it like a sport. . . .you arent exactly gonna out in a soccer world cup final as a goalkeepern be like OMG how many goals am i going to let in or how unprepared i am. . . .your gonna go in with confidence and know and see the victory if your not then its a waste of time really.

LOL, so now the average CFD punter has the equivelent skills of a WC goalkeeper?

Know your stuff inside out you say and live it. What does that mean?

Or a backtested system which shows 1000% returns with decent risk management so you don't blow up, wonder how many have that?

Trading is HARD, doing it as a novice on a CFD account is almost infinately HARDER!

Stop giving false hopes.

 

[anthonyriley]

LOL, so now the average CFD punter has the equivelent skills of a WC goalkeeper?

Know your stuff inside out you say and live it. What does that mean?

Or a backtested system which shows 1000% returns with decent risk management so you don't blow up, wonder how many have that?

Trading is HARD, doing it as a novice on a CFD account is almost infinately HARDER!

Stop giving false hopes.

Average CFD punter? if your refering to me, i may be new to the site but i do know whats going on. if someone is an average CFD punter they are then clearly not a trader, and are mearly gambling.

And what i meant by the sports thing is that your not going to go into something without knowing what your doing are ya,

and by know ur stuff inside out i mean know your strategy, if you have no strategy then how do u know when to enter and when to exit not to mention control your emotions. most people lose money caus of emotions! by having a plan and ppts in place you are limiting to those emotions.

to me trading is only as hard as you make it. anyone can make up excuses as to why they are doing well or not so well but in the end we have ourselves to blame.

 

[ColB]

Originally posted by AnthonyRiley

"...anyone can make up excuses as to why they are doing well or not so well but in the end we have ourselves to blame..."

Damn it! I'm going so well because I didn't get enough sleep last night

 

[MRC & Co]

I'm not saying 1000% is not possible, or that you are an average punter.

Your posts make it sound easy to me, when it's not. Possible, on a small account yes, easy? Not for most.

 

[Trembling Hand]

most people lose money caus of emotions! by having a plan and ppts in place you are limiting to those emotions.

So most people who lose have a sound positive expectancy system with skill to apply it but lose money cuz they forget this and become emotional!!

 

[JimBob]

Also think of it like a sport. . . .you arent exactly gonna out in a soccer world cup final as a goalkeepern be like OMG how many goals am i going to let in or how unprepared i am. . . .your gonna go in with confidence and know and see the victory if your not then its a waste of time really.

If you never let in any goals, then you can never lose a game. I think the whole point is how much you lose is something you can control.

 

[MS+Tradesim]

Is it just my imagination or has the number of expert traders on this site suddenly ballooned during this rally? We must be at the top.

 

[sammy84]

Shouldnt we all be aiming to make a profit. . . if so why is everyone always worrying about stop losses as if they automatically think they will make a losing trade.

Part of knowing your plan is also excepting losses will inevitably result. I understand my edge will produce winners, however I have losing trades.

Good quote by Marty Schwartz;
”When I became a winner I went from 'I figured it out, therefore it can't be wrong' to 'I figured it out, but if I'm wrong, I'm getting the hell out, because I want to save my money and go on to the next trade.”

 

[nunthewiser]

Is it just my imagination or has the number of expert traders on this site suddenly ballooned during this rally? We must be at the top.

bingo...

i did point out the top .at the top

lol but pay no heed im just skiting because it annoys a few here that i maybe right at times

 

[Mr J]

I agree with what u guys are saying, but the isnt the key to have a trading plan. Shouldnt we all be aiming to make a profit. . . if so why is everyone always worrying about stop losses as if they automatically think they will make a losing trade. For the me they key is to know ur stuff inside and out, live it basically and then when u trade you dont have to second guess yourself. If you have backtested and backtest and live tested ur strategy and it works then why cant you achieve results of 1000% increases.

Yes, the idea is to profit, but it's hard to execute well without a plan. Bowlers don't just bowl, they plan their line and movement. Footy teams don't just try to run over the top of each other, they try and create a gap in the opposition's defensive line. Soldiers don't just shoot. Most activities benefit from planning, and no matter how talented someone is, they will very likely do better when equipped with a good plan.

Stop losses is about risk management. The idea of the stop is to protect your capital from fast, large moves, but also to set a point where we decide the trade is no longer working. A stop doesn't suggest that we think we will lose this trade, just that we know we may lose on this trade.

For the me they key is to know ur stuff inside and out, live it basically and then when u trade you dont have to second guess yourself

Humans rarely take action without a plan, regardless of how well-thought out. It may be as simple as you take a trade if you like it and exit when you no longer like it. It's a simple plan, but it's still a plan. Second-guessing yourself isn't a problem if it is in a positive way, and since markets are dynamic, perhaps it's necessary to second-guess in a positive fashion.

 

[nunthewiser]

for ME . no matter what trade i enter .BEFORE i enter it i work out how much im going to lose .......... dunno about anyone else , just speaking for my own thoughts

 

[MS+Tradesim]

for ME . no matter what trade i enter .BEFORE i enter it i work out how much im going to lose .......... dunno about anyone else , just speaking for my own thoughts

I'd say most sensible traders would agree.

 

[beamstas]

The market doesn't give a crap how positive you are that your trade is going to be successful

 

[anthonyriley]

all i can say is everyone has their own opinions, thats mine i guess in the end is if what we do works then who gives a crap what others think . . . .

 

[MRC & Co]

all i can say is everyone has their own opinions, thats mine i guess in the end is if what we do works then who gives a crap what others think . . . .

If trading is truly only as easy as you make it for yourself as you say, then damn right, enjoy your car and the billions that come with it!

 

[nunthewiser]

all i can say is everyone has their own opinions, thats mine i guess in the end is if what we do works then who gives a crap what others think . . . .

hi . any chance of you posting some live entrys in the future .NOT hindsight trades , i mean as you enter them .......could be intresting as its mighty easy to say how great we are AFTER the fact but in real time it proves a point or 2

thankyou in advance

p.s reiterates that hindsight trades will be laughed at as they a dime a dozen these days ... everyones a guru

p.s will even start a live trade thread for ya if you so wish OR pick any thread it may concern .take your pick

 

[anthonyriley]

If trading is truly only as easy as you make it for yourself as you say, then damn right, enjoy your car and the billions that come with it!

I say this because some people may have a system that uses basic charting etc and it works and they do well whilst others complicate it and make a chart look to confusing when maybe a similar strategy could be a better way .. . . .look at the chart below. . .. thats what i mean by over confused . . . how many of you can tell me you have charts like that . . .. or how many of u can tell me that this chart is making trading hard on yourself.

 

[beamstas]

all i can say is everyone has their own opinions, thats mine i guess in the end is if what we do works then who gives a crap what others think . . . .

Just a suggestion
Maybe you should start trading using real money

Your confidence may be a little different when moving up to real money from paper trading

 

[anthonyriley]

Just a suggestion
Maybe you should start trading using real money

Your confidence may be a little different when moving up to real money from paper trading

I have used real money . . . . . i wouldnt have opened my mouth if i hadnt, because i know from my experience that its much much more mind intense.

 

[MRC & Co]

I say this because some people may have a system that uses basic charting etc and it works and they do well whilst others complicate it and make a chart look to confusing when maybe a similar strategy could be a better way .. . . .look at the chart below. . .. thats what i mean by over confused . . . how many of you can tell me you have charts like that . . .. or how many of u can tell me that this chart is making trading hard on yourself.

My charts show price and volume and I draw a few levels in myself.

Very simple.

Doesn't make trading and achieving 1000% returns easy though!

The market dictates a lot of the time, how easy it is or not, sometimes it gives away free money, other times you have to work hard for your scraps!