my problem: i can win 10 trades and 1 loss kills big. the next lesson is to avoid that big one. BTW, i trade every day, win 2.5 - 3%.
-interview(intervieweree);
2008-6-3(#36578@43)
Wow, that is 12.5~15% a week. And 600% ~ 750%. U are SUPERMAN
-it.uncle(路谣.老夫聊发少年狂);
2008-6-3(#36579@43)
the big loss will kill that all. i suggest you not only focus on win, focus on loss first. without dodge big loss, you win nothing...
-interview(intervieweree);
2008-6-3(#36580@43)
it's very appreciated if who can provide information about avoiding big loss while keeping the gain isf there is any.
-interview(intervieweree);
2008-6-3(#36581@43)
If one takes care of his loss, the profit will take care of itself.
-lachom(注册啦 (免费的)!);
2008-6-3(#36582@43)
How ...
-interview(intervieweree);
2008-6-3(#36583@43)
I think if you do not tell people what you have done for the first 10 win trades, they can not tell you how to avoid the last loss trade. Be more specific.
-it.uncle(路谣.老夫聊发少年狂);
2008-6-3(#36586@43)
One example, rather not trade if no good entry price.
-lachom(注册啦 (免费的)!);
2008-6-3(#36588@43)
Then how do you know the price is good or not?
-it.uncle(路谣.老夫聊发少年狂);
2008-6-3(#36589@43)
Good systems, technical analysis, back testing. The simplest system is, theoretically, a random picked stock has 50% to be a winner. If one stops at 8% and with a goal of having > 10% gain, you can always make money.
-lachom(注册啦 (免费的)!);
2008-6-3(#36591@43)
what if your goal is totally wrong and your stock already tank 8%?
-interview(intervieweree);
2008-6-3(#36601@43)
that's the 50% of time you lose 8% each, with the other 50% of the time you win at least 10% each, your total gain will be 4%. Make sense? By the way, it applies to a basket of stocks and it applies to a number of trades with a single stock.
-lachom(注册啦 (免费的)!);
2008-6-3(#36605@43)
Do a statistics on all your trades so that you can determine the optimal stop loss.
-jeffl(I have a dream);
2008-6-3(#36584@43)
IMPOSSIBLE IS NOTHING DISCIPLINE IS EVERYTHING
In your case, it seems that you never put the stop loss on you every trade. That's the main reason. It looks like your trading system is good. but one trade can kill all easily.
-scottee(笑熬浆糊);
2008-6-3(#36585@43)
if i put stop loss, all my trades will be losing..., you know what i mean, right?
-interview(intervieweree);
2008-6-3(#36590@43)
If this is the case, there is no cure. Period.
-jeffl(I have a dream);
2008-6-3(#36592@43)
Do you understand his trading strategy? Stop loss for one could cause other 10 to loss. How come?
-it.uncle(路谣.老夫聊发少年狂);
2008-6-3(#36594@43)
because MM will lower down the price to eat your stop loss, unless you set a 10% stop loss, ...
-interview(intervieweree);
2008-6-3(#36596@43)
But it has anything to do with other 10 trades?
-it.uncle(路谣.老夫聊发少年狂);
2008-6-3(#36600@43)
no. nothing to do with it.
-interview(intervieweree);
2008-6-3(#36602@43)
The just set it as 9.9%.
-it.uncle(路谣.老夫聊发少年狂);
2008-6-3(#36610@43)
As backtobasic said. Cut the profit short and let the loss run.
-jeffl(I have a dream);
2008-6-3(#36597@43)
Nonono. That is not what he said. He was saying "if i put stop loss, all my trades will be losing..., you know what i mean, right?". He is so determined that if he put stop loss, others will loss too. This is the key.
-it.uncle(路谣.老夫聊发少年狂);
2008-6-3(#36603@43)
There could be some kind of association between this lossing trade and the winning trade. So he can not put stop loss on the winning trade. So scottee said entry price should be considered again. I guess they have a very cocmplex trading strategy. Hedge
-it.uncle(路谣.老夫聊发少年狂);
2008-6-3(#36608@43)
It doesn't matter what method he is using. But if 9 winners merely cover 1 loser. His risk/reward ratio is out of whack. Not a sound system.What needs to be done is to adjust the risk/reward ration by either increase the reward or reduce the risk. Statistics is a wonderful way to do it provided that he has system, not just emotional trades.
-jeffl(I have a dream);
2008-6-3{202}(#36611@43)
It seems he is using some kind of Forex Hedge Strategy if he is trading currency
-it.uncle(路谣.老夫聊发少年狂);
2008-6-3(#36595@43)
i'm talking about stock. i'm day trader.
-interview(intervieweree);
2008-6-3(#36606@43)
Yes. I know. That means you had better adjust your enery price and try to use more efficient algorithm.
-scottee(笑熬浆糊);
2008-6-3(#36599@43)
that's probably it. all my big loss comes from WRONG HOPE. is there a way to overcome it?
-interview(intervieweree);
2008-6-3(#36604@43)
Try to find more clear signal when you want to trade. You need to avoid emotional trade.
-scottee(笑熬浆糊);
2008-6-3(#36607@43)
WRONG HOPE is from the loss trade. when i see loss, i hope it will go up. What is the rule for a day trader? shall I wait for the second or 3rd day?
-interview(intervieweree);
2008-6-3(#36609@43)
Not really if you can adjust yourself quickly. I suggest you keep writting trading dairy.
This one is for your reference. http://www.daytradingworld.com/day_trading_rules.html
-scottee(笑熬浆糊);
2008-6-3(#36612@43)
Hi Mr. Jianghu, any free meal today?... ; )
-toronto66(十八克拉);
2008-6-3(#36617@43)
Yes. Small profit @ USD/JPY
-scottee(笑熬浆糊);
2008-6-3(#36621@43)
Celifitation! Market was so wicky today that I just stay watching pips flowing by. Your system and your driving skill is impressive to me. Do you play bridge (桥牌)?
-toronto66(十八克拉);
2008-6-3(#36622@43)
Thanks! Sure. I played bridge when I was a teenage. Now I haven't play that for quit long time.
-scottee(笑熬浆糊);
2008-6-3(#36626@43)
everytime won 1.5-2% was not difficult, but you didn't obey the rule, like CUT THE LOSS AND LET THE PROFIT FLYING, it looks you just did on opposite way: CUT THE PROFIT AND LET THE LOSS FLYING. HAHA
-studystock(backtobasic);
2008-6-3(#36593@43)
true. i think as long i can cut the loss, i'll win. With my limitted knowledge, i can not let profit run.
-interview(intervieweree);
2008-6-3(#36598@43)
The simplest one: after you win 10 times, just put 100 dollars for the 11st bid. 这个是有意放水去晦气,很灵的。
-ignoreme(别当真);
2008-6-3(#36619@43)