How do people deal with missed trades?

nizar said:

WHether you are a "wageslave" or a entrepreneur or a corporate high flyer or anybody, taxes, child maintenance, petrol, food, etc, are expenses for EVERYONE. Its called life. Get used to it.

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Nizar,

I have learned that working 9-5 and beyond would not get me to where I wanted to go. Sure if one wants debt, a house, a car and big TV sure go to work and it is all fine - why do anything different?. Just turning up to work you make money! But for me I like my room, cave, igloo, whatever you want to call it. I am different.

So long as you can rely on your employer! I had this out with my old man on the weekend that the wageslave is the biggest sucker walking the earth! The goverment takes half his wage over 50k, child maintenance will take another 30% and petrol, cigarettets, parking tickets and alcohol taxes will take another 20%.....fairdinkum the poor blokes r.s.

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Risk management! "Is your boss an idiot evrybody? " If so find another job. Manage the risk.
Where is the incentive to earn over $50,000?

Bobby,

Just something else to think about for those yet to be feel the sting !
Be careful who you Trade relationships with.

Cost me two great homes , that I gave away to get away.

Wish I'd missed those trades

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I am sorry to hear about that.
Take care.
Snake

But getting back on topic, trading fulltime is the only way to not miss those trades. Execution!

It's Snake Pliskin said:

Bobby,

I am sorry to hear about that.
Take care.
Snake

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Thanks Snake, but I did get a huge plus ! a daughter who turned out great.

Cheers Bob.

clowboy said:

How do people/did people deal with missed trades when they are at work/used to be at work?

I am finding this increasingly frustrating.

While nothing is ever set in concrete unless it actually happens I would be fairly confident in saying I missed out on making some $$$ trading JMS simply becuase I was at work instead of home.

Given all the coverage it recieved on ASF and the clear break into new highs I am very confident that I would have entered had I been at home.

I am often finding myself banging my head against a wall going crap, how much did I lose coming to work today?


Thoughts?

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Hi folks,

Agree with Snake that execution is the only answer,
but it is NOT necessary to be trading full-time to
achieve that end .....

..... if traders have done their homework on a stock,
then slippage on entry, by paying market price is a
small price to pay, if you are guaranteed of a position,
in that stock.

Trying to fine-tune entries and exits is simply greed
and if we have our market timing right, then leaving
a little on the table, at BOTH entry and exit, will still
make us money AND eliminate the stress from trading,
through "missed trades."

There's no excuse for missed trades .....

..... just do it, AT MARKET ... !~!

happy days

yogi

You could always change jobs right...now that we live in a 24 hour society take a job the requires you to work afternoon shift (casual). That way you can start say around 4:30pm, after the market has closed and finish at 10 or 11pm. Its a shorter shift, than 7.5 hours which I assume you are currently doing and you can get arvo penalty rates, which would add up to more than your current $150 per day pay cheque.

Heck what have you got to lose...you say that you hate your job and it disrupts your trading, go for it.

I took a job for a while doing arvo casual shifts at a local hospital....my wage during the week was $23 per hour and $33 on weekends. Average that out over a working week and the wage was around $26 per hour. Say you work 6 hours there is you $150 right there.

Working 9 to 5 mon to friday sucks.... just think of all that peak hour traffic you miss

clowboy said:

It just really sux going to work for a measly $150 a day and getting home to realise that even if you only caught 15% of the trade (pretty likely) you only had to put down 1k and you would not have had to go to work.

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Way way way from it.
Losing a days pay is much much easier than clearing it.

Dont be fooled into the other mans grass is greener.

I doubt that most short term traders could make your wage a year using less than a $50K-100K capital base.

Good grief Tech, it must be late there! You turning into another WayneL?