Quote:
Originally Posted by Johnny
I`m not quite sure what you are trying to communicate here 
Of course am I prepared that this will not be easy.
Are you telling me that there are
traders in here that get beaten up
and lose every single day of their
lives? Uh, then why are you
trading? I think rather than coming
in here to offer dismal and pessimistic
advice; I think those people with
lousy non-optimistic attitude should
quit trading and quit offering opinions
on here to boot. If you are getting
beat up everyday and are telling people
to expect it; guess what... it's time to
get out! |
That's because you never trade live before. By all means, trade live first. Then let us see what you will say after a string of losses. It is so easy to say I'm prepared while you still have your money in your hand. But it's gonna be different after you see your account shrinking instead of growing. One or two losses you may can handle, but what about three to four in a row?
Read again your own answer to my post. Just because I didn't pat you in the back or say any encouragement you undermine my post. There's always two sides of a coin in everything in life, including trading. You can hope for the positive side, but please take the negative side into consideration.
Did you know that for 10% loss you need about 11% gain just to breakeven? Did you know that 50% loss takes 100% gain just to breakeven? For a single loss of even just 1% of your equity, there's a higher probability that your next gain won't cover it all in a single strike. And when you're still a newborn to live trading, this is the whole ten yard that make or break you.
I have make and break and make again in forex, kiddo. So I do know what I'm talking about. And yes, all you said here and more, are exactly what I said when I first started some years ago. I'm just trying to help you not to go through what I have gone through. It is a world away btw prepared prior to and after live trade.
Quote:
Originally Posted by Johnny
As for planning my steps, that was the intention of this thread, but I don`t see much help on that so far |
This is exactly why I said what I've said. To each his own. You cannot expect somebody else to plan your steps. And to consider that you said you have bough a load of books and gone through "School of Pipsology," funny you still asked that from others in this forum. Don't any of your load of books talks about planning your trade? Isn't planning your trade one of the "School of Pipsology" curriculum?
And what kind of help do you ask? If you unconsciously walk right to a canyon, do you think if somebody slapped you flat on the face to stop you is not a help at all?