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Losing CFD long position

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Re: XAO Banter Thread


Sorry, you are INCORRECT again!

BLUE icon is a LIVE account. BLUE icon is also DEMO account, you have obviously taken your screenshot from a tutorial with an old version.
I do apologise for not checking where my hand was! lol




DEMO:


LIVE:
 
Wow!

This is better than an intricate mystery novel with the last few pages missing! Just when ya think ya know who's doing what to whoever's whatsits, there's another twist in the storyline!
 
Re: XAO Banter Thread

Kelly said:
Sorry, you are INCORRECT again!

BLUE icon is a LIVE account. BLUE icon is also DEMO account, you have obviously taken your screenshot from a tutorial with an old version.
I do apologise for not checking where my hand was! lol
Click to expand...

That's interesting a platform would update its version with only just one color icon change (especially quite an important distinction of live/demo) while everything else stayed the same. If so then I am incorrect indeed (but don't know about the "again" part - that was my first post in this thread.). It was the only screenshot I could find of a live account.
 
Re: XAO Banter Thread

minwa said:
(but don't know about the "again" part - that was my first post in this thread.)
Click to expand...

Sorry minwa, that wasn't a reply solely to you (I was too lazy to quote all the others).
I'm not a guy, not a troll, not a demo account...
 
So then you cut your losses on the asx200 trade by the look of it?

Can you share with us, the rest of your story? When you started trading etc.? How you built that account up?
 
Re: XAO Banter Thread

Kelly said:
Sorry, you are INCORRECT again!


I do apologise for not checking where my hand was! lol
Click to expand...


Kelly,

Just to confirm .... your account is real ... you let a bad trade turn into a $47,000 loss when you removed a $10,000 stop ... and you feel vindicated because you've proven several professional traders on this site errant in their summation of your indiscretions??

Don't get me wrong ... I'm not judging ... In fact I probably know better than most how this kind of position feels. I lost a large amount (your amount pales in comparison) on one bad trade several years ago in a matter of a couple of weeks, but never at any stage did I feel anything other than devastated and depressed for several months ....

So when I see someone/you/anyone reacting the way you are in relation to those who are questioning the logic of your current scenario, I am genuinely concerned because your mindset is ALL wrong.

Forget the bravado and take responsibility for your actions .... How me or anyone reacts to your trading on this site is totally unimportant. What matters is that you work out why you ended up in your current predicament and work out how not to let it happen again ...... If you don't, you will simply become another trading statistic.

You might feel fortunate in one way that you made a good profit before you made your large loss because the loss technically doesn't feel like a loss (Houses money right ....wrong!) Many of us have done the same thing ... Beginners luck can actually be a curse as it builds false confidence .....

At this point in time, you need to admit you are a bad trader and stop trading amounts which don't reflect your ability ... Simples! ....

Hope that helps and genuinely all the best
 
Lol at the photo having the finger again.
Whilst this thread has been great entertainment for me, I truly hope that lessons are being learnt - not only by those involved but also by the innocent lurkers.

Just when you think you have the market on a string, it can change...and it won't hesitate to give the proverbial finger to your account and fast. Trade small, stick to your risk management plan (hint: make sure you have one) and if you really have an edge then it will show over time through repetition and application of your rules.
 
If we get to 5350 I would start scaling out of the position. By 5440 (if we get there?) I would want to be completely out and looking for next trade. Good luck!
 
PennD said:
If we get to 5350 I would start scaling out of the position. By 5440 (if we get there?) I would want to be completely out and looking for next trade. Good luck!
Click to expand...
Going by the pl I'm guessing she's already out....?
 
One of the best threads I've read in a while. I hope you continue to post on ASF, and hopefully on the profitable side of things (Y)
 
PennD said:
Its showing closed possitions... cant see it in there...
The rest of her trades are lookin good!
Click to expand...

Kelly if you hang around mabye take more notice of the posts with high numbers (unlike the above ). They know how to survive!!

You shouldn't feel bad having lost as a newbie to trading It's a courageous thing to reveal too -

Here's an embarrassing statistic for high-paid fundies: less than 10 per cent of active managers beat the S&P 500 index over the past five years.
Click to expand...

Understand fast that most of what you hear the market promises are lies, it's a place where money is lost not made by most who play it!
That's the kind of mental set up you need............
 

Fair enough... high risk and beginners luck will only get you so far.
But the high numbers bit... some of the posters here with the highest numbers im quite dubious of...
 
PennD said:
Fair enough... high risk and beginners luck will only get you so far.
But the high numbers bit... some of the posters here with the highest numbers im quite dubious of...
Click to expand...

Most who fail after several years won't bother posting on a forum like this. Mostly, I'd say the long term posters will be profitable...just my take on it.
 
PennD said:
Fair enough... high risk and beginners luck will only get you so far.
But the high numbers bit... some of the posters here with the highest numbers im quite dubious of...
Click to expand...

Porper said:
Most who fail after several years won't bother posting on a forum like this. Mostly, I'd say the long term posters will be profitable...just my take on it.
Click to expand...

Sorry, I should of put "some" in bold. Just going by the way she has been treated these last few days. Haven't been here in 6 months and this is the first post i come across and somehow i was pulled into the drama... lessons learned.
 
ggkfc said:
Looks like she's killing it, except for the big one
Click to expand...

It only takes 1

My advice which I mentioned before is
to learn how to mitigate risk.

This trade with what you can afford to
lose is plain rubbish.

Learn how to develop a trading blue print of your trading method.
That way if its going off the rails you can see when and where
and more than likely why its happening.
 
tech/a said:

It only takes 1

My advice which I mentioned before is
to learn how to mitigate risk.
Click to expand...

the duck's pretty much got the booyah moment in the thread

the opening posts show the trader was trading the money not the trade ....the mere idea of asking a social media site whether pumping more funds into an account to support a losing position is exactly adding-to-a-loser only with cash not more contracts (and thankyou PTJ)

side note:
http://ftalphaville.ft.com/tag/winning-with-plus500/
hat tip to rmv__ for the find
 
detective novel?

wait, there's.....


https://www.tradingfloorchat.com/room/5-stock-chat
 
Re: XAO Banter Thread

That reminds me of me!

Lost 125% of my initial 5 figure account on a single trade - all in few days. I had added more money in the 'hope' that the losing trade would swing the other way. Couldn't sleep while I was leveraged to the hilt and the price would swing by few thousands. Finally, I couldn't stand the pain and closed the trade and went to bed. It was the first time I could sleep peacefully.

The weeks after I couldn't push any buttons and make trades. I took couple of weeks off and did not trade. Later, when I did, my confidence was completely crushed and I would trade micro contracts. Took me couple of years of slow trading to make up the numbers. Luckily, I had good friends and who helped me focus on trading rather than money.

Anybody who tells me that they can handle 50K loss without emotional setback is a lying through the teeth. One must be filthy rich and fails to understand the value of money or an ignoramus to suffer such senseless loss and treat it as 'cost' of trading.
 
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