Ten-thousand in Education and still not profitable! | Trading Reviews and Vendors


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Ten-thousand in Education and still not profitable!

  #210 (permalink)

desert CA
 
Trading Experience: Intermediate
Platform: NT7, TOS, TWS
Broker/Data: AMP, DT, TDA
Favorite Futures: CL,NQ,YM
 
Posts: 2,104 since Jul 2011
Thanks: 2,343 given, 1,671 received

I know what you mean. I had started "pyramiding" paper trades instead of accepting stop losses at one point in my simu trading. Then it became a bad habit. And I did it twice on live, and that was all it took to take a severe damaging blow to my live account. The first time it worked, the second time it didn't. Hopefully this is a psychological lesson learned as I've realized pyramiding turns the odds more into gambling odds.

I had seen this pyramiding from a trading room "instructor"/host earlier in my trading education. When he got into a bad trade (about half the time) he would keep adding another contract as it went against him and would say "do as I say, not as I do!" as he was kind of a joker. Then next week he would say his position got back to even after 14 more hours. It was probably a demo account and I don't frequent that room anymore.

Since then I've forced myself to take my stop losses on practice sim sessions, and take that as a barometer of my poor trading if it occurred too often.

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