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Successful traders: Risk Taker or Risk Averse?
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Successful traders: Risk Taker or Risk Averse?

  #41 (permalink)
Trading Apprentice
Estonia
 
Futures Experience: Beginner
Platform: Ninjatrader, Metatrader 4, Metatrader mobile
 
Posts: 14 since Nov 2010
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''Risk Taker or Risk Averse?'' - Both

If you are feeling well and you'r equity cure goes up, you should take more risk to maximize you'r winning trades

If you'r equity curve goes down, you should take less risk

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  #42 (permalink)
Trading for Fun
Sunnyvale, CA
 
Futures Experience: Advanced
Platform: TTTrader
Favorite Futures: CL
 
Posts: 160 since Dec 2012
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Yuri57 View Post
Sure, it's called a stop-loss.

That only gives you protection on one trade. It never tells you how many losing trades in a row you will experience.

there's two ways to be an ultimate loser in trading: (1) you get wiped out on a single trade, (2) your account balance dwindles on lots of losing trades that are not recovered by the winning trades


Quoting 
And I only intend to take a risk when odds are highly in my favor. That's the whole point of trading.

Yes indeed. no arguments from me on that.

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  #43 (permalink)
Trading for Profit
Munich, Germany
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: Equity Index Futures
 
Posts: 285 since Apr 2012
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Quote from an article by Brett N. Steenbarger, posted by @djkiwi in another thread (https://futures.io/psychology-money-management/26104-highly-unusual-suggestion-5.html#post306617):

I have seen very few successful traders who were highly risk-averse. The risk-averse trader, particularly who is high in neuroticism, is motivated more by a fear of loss than a desire for gain. This makes it difficult to sustain meaningful position sizes during promising trades. Often such traders berate themselves for being self-defeating or sabotaging, but the reality is that they might be better suited for investing than trading.

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