Is losing a requirement to be successful?
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Thread: Is losing a requirement to be successful?

  1. #1
    Here is another question for you... Although I feel this is a simple question. . Perhaps another thinks otherwise. . Here goes. .

    Much like what the subject says,

    I do not understand how you define losing so please do post your own description so we may understand. . Also, please post your reason for voting such...

    So anyway, in my opinion, losing is a requirement...
    Losing for me is when you lost big time/bigger than what you planned by over-trading or not after your reduction loss. .

    I voted Yes because it was through this loss I was shaken to my perceptions...

    So in the event that you think otherwise, then please post your opinion. .

    Joyful discussion!

    P.S.
    Please also take note that the words I used were to be successful rather than in trading. .
    But if you want, you can alter it Is losing a requirement in trading? But I doubt if anyone will reply No...

  2. #2
    Quote Originally Posted by ;
    If you are so confident that you won't ever lose in a trade, you can borrow money from banks or family and friends to trade. I am sure you can win much greater than the interest paid to the bank.


    p/s. Don't borrow money from bank to trade unless you are 100 percent certain you can win greater than the interest in the bank.
    I wish I could but south african tax clearance laws prevent a person from accepting more than a certain sum from the nation in 1 year...

  3. #3
    Quote Originally Posted by ;
    Someone with a 1 million account would not trade with only 1 minilot for any number of reasons. One being that they'd expect a greater return than what a single minilot can deliver. How do you think they got their first million anyhow?
    In their parents. :

  4. #4
    Quote Originally Posted by ;
    Someone with a 1 million account would not trade with only 1 minilot for any number of factors. One being that they'd expect a greater return than what one minilot could provide. How do you think they got their first million anyway?
    Yes I agree. . .nobody is gonna make a million with a $1500 account at less than 5-10 years....those who can start a million dolllar account will exchange regular lots ($10) if they're wise. . .so if you wanna make huge dollars you need a significant account....if you dont have aq large account. . .then you MUST trade little otherwise you WILL get wiped out.

  5. #5
    Quote Originally Posted by ;
    I wish I could but south african tax clearance laws prevent a person from accepting over a certain amount from the nation in one year...
    hello there come to Kenya!! Nobody cares how much you move in out the nation provided that the source destinations can be verified.

  6. #6
    I know this is an Older thread, did Not really read it all...

    but Only had to say obviously losing is a Necessity to being successful since it is impossible to Get winnings Transactions forever... you Are bound to lose a Single sometime

  7. #7
    Quote Originally Posted by ;
    yes i agree. . .nobody is gonna create a million with a $1500 account in under 5-10 years....those who may start a million dolllar account will trade regular lots ($10) if they're wise. . .so if you wan na na make big dollars you need a big account....if you dont have aq big account. . .then you MUST trade small otherwise you WILL get wiped out.
    I agree. . Nobody except those who have already and those that will in the upcoming

    some prefer to begin with $500 however

  8. #8
    The absolute hardcore facts about trading is that you must control risk to become successful. Only by limiting risk is it possible to make gains. But that did not seem logical to me and I rejected the idea although I'd already lost a considerable amount before I had been taught this principal. Logic suggested that more risk you take, the more gains you get therefore, all that is required is that a winning egy high risk and I could get rich fast. Not until continuing fast losses have been experienced, did I eventually relinquish the get rich quick mentality and re think the question of risk. Slowly but surely I learnt that risk management was not only the most important tool, the important ingredient for success however ironically, with compounding, can nevertheless create an amazing rate of return. What exactly are you going to do take this advice today - or keep attempting the impossible until you eventually learn it the hard way like I did? I voted yes but you also could be an outlier and save alot of annoyance if you listen

  9. #9
    Granted this is an old thread, but a point of discussion.

    I will abstain from voting because I have an aversion to dangling chads
    and dread a recount, or worse yet, a Florida State Supreme Court desicion.

    But I want to provide the following experience:

    If you've never lost large and felt the burden of the world on your shoulders,
    having success in the market, however temporary, will not carry the same weight.

    Long term, lasting success (profitability) can be likely sustained if you
    know what CAN happen in case a incorrect, how bad it CAN get when you neglect and
    fashion your trading habits in order not to allow a astrophe to unfold in your account(s).

    It's a version of scale Too. A six or seven figure account can just as readily
    be wiped out as a five hundred dollar one. Never feel that more cash is
    somehow an immunity to failure. Big boys have busted too.

    A profit or a reduction in trading shouldn't dictate your next transaction.

    Your following commerce ought to be signaled by means of a system, method, commerce egy, or
    by some other means besides how much you made or lost on the last transaction.

    10 to 20 pips is about all that I can stand to lose on a transaction, irrespective of position size.
    It's at the point I know I am out of sync with the market and get out, look at
    what is going on and reassess the situation. Stop the flow and let it dry out.

    In the event the trade still makes sense, I'll put an entry stop to get back in WHEN AND IF
    the market yields to my former place's favor. Otherwise, it stays my
    FORMER position - a matter of the past, a memory - maybe not my instrument of self-destruction.

    Ask yourself: Should I mean to trade dozens or even hundreds of transactions over the
    course of time (days or weeks or months or years), why would it make some sense
    to allow this ONE TRADE to ruin my account and egies for the upcoming???
    Kill it before it kills you. Make no mistake, it is trying to kill you. Exit the trade.

    Therefore, my take on the matter is that YES you are going to lose some before you consistently win
    and you'll lose occasionally while you are consistently winning, but in the event that you're able to
    avoid a monster reduction while optimizing your trading method, good for you.

    But if you battle with the monster and are mortally hurt and
    somehow find the courage and strength to get up and fight again
    and you do not give up, someday you will kick his ass and take all his cash. Boo-yah !

    Just remember, every now and then, he'll sneak up on you once you're not paying attention.
    Be careful and try not to get hurt. You're doing something harmful.

  10. #10
    Quote Originally Posted by ;
    The complete hardcore reality about trading is that you must control risk to be prosperous. Only by limiting risk is it possible to make gains. But that did not seem logical to me and I resisted the thought even though I'd already lost a considerable amount before I was edued that this principal. Logic indied that more risk you take, the more gains you get so, all that's needed is that a winning egy higher risk and I could get rich fast. Not until continued fast losses were experienced, did I eventually relinquish the get rich quick mentality and re believe the question of risk. Slowly but surely I learnt that risk management wasn't just the most crucial instrument, but the important ingredient for success however ironically, with compounding, can nevertheless produce an amazing rate of return. What exactly are you going to do take this information today - or keep trying the hopeless until you eventually learn it the hard way like I did? I voted yes but you also can be an outlier and save alot of pain if you hear
    I would not call this an absolute hardcore reality... Well the first two paragraphs would be. However seems like you saying that by limiting risk you restrict gains almost proportionately. This just makes sense if you're trading the specific same system/style and just changing the lot size. However, some systems, styles are less risky than others even though they produce greater gains.

    Limiting risk is, of course, essential.

    But when people discuss risk and gains that they are referring to 1 item just... money. But, there are 2 measurements to making money... TIME and MONEY. It is not an absolute /-, up/down account balance item... it's also, how quickly you make money that's vital.

    If it took me to double my account with egy X then you can bet your ass I will be really careful about not wiping out my account, or even losing a huge part of it.

    If I can double the account in a month or two using Strategy Y, then my perspective changes. You can choose more risk because you have just lost 1 or two months your account, rather than 5 decades your account. Therefore starting over again is not a large problem, provided that you've got some money to start with again... but that's just good money management.

    Like what there's more than one way to accomplish something. You can have a quicker, more risky egy or a slower, safer egy.

    Another variable to take into account is the quality of the pip. All pips aren't made equal. Some transactions are far safer than others.

    So it's possible to have a system that produces faster bigger gains than another good system that produces slower smaller gains and for this to personally feel less risky to me.

    Everything depends what your definition of risk would be...

    If you wipe out your account with Strategy X, then you have lost the account balance 5 YEARS
    If you wipe your entire account with Strategy Y, You've lost the account balance 2 MONTHS

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