Newbies Trading in the Dark

[Zenyatta]

I can't believe that you're seriously advocating having an unlimited downside!

Read what I said. Pre-race the maximum downside (in practice) is 15-20 ticks, because the prices rarely move further than that (although occasionally it does happen).

I just dislike the stop-losses because I've been screwed over so many times. Inevitably the price eats through my stop-loss, only to come back again most of the time.. there is nothing more frustrating.

[Ferru123]

Read what I said. Pre-race the maximum downside (in practice) is 15-20 ticks, because the prices rarely move further than that (although occasionally it does happen).

You advocated having no stoploss - I don't think I misread you.

Does anyone have any stats on how often markets move more than 15-20 ticks?

You didn't answer my question re. your upside - Do you aim for x ticks, or do you just let the market do its thing and close just before the off?

And how do you manage your staking?

I just dislike the stop-losses because I've been screwed over so many times. Inevitably the price eats through my stop-loss, only to come back again most of the time.. there is nothing more frustrating.

There is actually - I find it more frustrating for a small loss to become a huge loss!

A trader I know once came up with an analogy. If your car is rolling down a hill, do you apply the brakes or just hope it will stop rolling? If the trend is making me money, my foot will be going nowhere near the break pedal. But if I'm losing money, I'm not going to rely on gravity being kind to me! And given the way trends self-perpetuate, that is a good metaphor.

Jeff

[Ferru123]

Read what I said. Pre-race the maximum downside (in practice) is 15-20 ticks, because the prices rarely move further than that.

I thought I'd keep an eye out today for such moves, to see how rare they actually are.

I found one in the 14:10.

Jeff

[Ferru123]

And another!

Personally, I wouldn't ride a trend like that to the top for a big loss, when my potential upside was a single tick scalp! You'd have to have an eye-wateringly high strike rate to make it pay!

Jeff

[Ferru123]

You'd have just and so managed to keep your shirt with this unfortunately named horse, but for me it would be a bit too much stress for a single tick gain.

Jeff

[No Sea to Rough]

Dear All,

I just want to say as a newbie to BA and the forum trying to make a consistent profit is a minefield.

Thanks for all the constrictive and helpful advice.

[redeagle60]

Essential things to remember in trading...
What goes up..must come down..and what goes down must come up, make the best of these trends and dont get greedy.

Reading charts whilst trading is essential, If you get into a maze youll have trouble finding your way out, But with some sort of map it would help you alot more, Its the same thing here.

Look out for big money that effect the market..this may drive the trend up/down but will suddenly return to its original position.

good luck

[PeterLe]

Essential things to remember in trading...
What goes up..must come down..and what goes down must come up,

Not always!

[hgodden]

Essential things to remember in trading...
What goes up..must come down..and what goes down must come up,

Not always!

Good point, there are few unbreakable rules in this jungle

[freddy]

Essential things to remember in trading...
What goes up..must come down..and what goes down must come up, make the best of these trends and dont get greedy.

Please tell me which markets these are
it must be really easy to trade them .

If you would have said what goes up very often comes down i would have agreed

Reading charts whilst trading is essential, If you get into a maze youll have trouble finding your way out, But with some sort of map it would help you alot more, Its the same thing here.

Helpful to some people but not essential.

Look out for big money that effect the market..this may drive the trend up/down but will suddenly return to its original position.

Agree