Trading mistakes

[flamingoproxy]

@SovoS

I am so tired of this amateur and superficial perpetuation of the same meaningless, even damaging, advice and myths that have been circulating here on BP since eternity began and where the blind, the ignorant and the naive continue to lead the rest of the blind, the ignorant and the naive into doing the same mistakes that do nothing more than exacerbate the extortionately high failure rate in this industry.

this says it all, really

unfortunately

between the incessant bots, the spammers, the self-promoters, the opinionated/deluded and the trolls, it’s just futile

@SovoS

This post is now the last post and last visit I will ever make to this site.

thank you, anyway, for having been here during a couple of periods which overlapped with my having been here

i’m very sorry to see you go, but i feel almost the same, and will probably not be far behind you

[tommor]

When we know that 70-80% of private retail traders with active accounts are losing money, then we must expect posts by at least that number of babypips members might well be highly suspect.

Actually, I think the percentage of members I see who are obviously speaking rubbish is a lot lower than that, so I take encouragement from that. Also, there’s probably a huge number of traders and wanna-be traders who are not active posters but who are just here quietly absorbing what they might need to know.

The problem is that a few members are unshakeable in their mistaken beliefs, and over-defensive sometimes. They’re vocal but a minority.

Some actually may not realise that there are multiple ways to win at trading. there’s only one way to lose the game of course, which is to wipe out, but some people don’t realise the phallacy in saying that only their preferred strategy can work. That kind of blinkered view of trading is always going to be wrong.

[peterma]

@flamingoproxy

now you’re showing your age - im very much an “older guy” and even i had 4mb of RAM

Lol - my 1st PC was a Tandon with a huge 256k ram - this was cutting edge in 1984

[peterma]

@SovoS

You will not, naturally, like this post, but you can take comfort from the fact that your glib advice did achieve one positive result: This post is now the last post and last visit I will ever make to this site.

That’s a pity but likely Sovo$ won’t get to read my comment.

One thing I’ve learned about interacting whether on-line or in the real world - the more you give the more you get

Interaction with others is not always a bed of roses, actually it’s the thorns that teach us best.

[gfon]

Thx for yr answer. You explained you strategy so it is clear. Just because in your first post I have read, was not clear to me what you wrote now finally. That’s all. Sorry for posting a damaging advice, or if it seems to be really an advice, rather an opinion. Don’t be so angry man.

[llamados28]

Over leveraging and revenge trading trying to make back a loss quickly which just compounds the problem further.

[Ethan.ishere]

Well, sometimes I think about it. If 70-80% people are losing, who are this people that have always-winning-strategies.

[jc97]

(post withdrawn by author, will be automatically deleted in 24 hours unless flagged)

[NurseTea]

Trading real money before I was profitable with a demo account AND buying services before I bought education.

[Ethan.ishere]

@NurseTea

Trading real money before I was profitable with a demo account

I get it. That is something that many traders commit.

[JRB48]

To solely trade on the demo for a long time and start trading on real accounts by real money.

[Thetalsa]

Watching random people trade on youtube. I think it was the most misleading mistake for me because it lead me astray into having unrealistic expectations. I was hooked by these videos on video streaming websites’ algorhytims, and they were always showing me this excessively successful technical traders who were making thousands of dollars a pop in a trade in a single minute just by following lines on a chart. I thought everybody was doing the same and I could do it too.

Well, it turned out to be wrong, obviously.

[samewise]

@GrayWolfe7

Trying to be a day-trader with the 5m TF (though apparently some folks around here make that work).

How long did you last? I tried it, it was going pretty good, then hit a crazy losing streak. Starting trading on the 1h and 4h more.

[samewise]

@tommor

Some actually may not realise that there are multiple ways to win at trading. there’s only one way to lose the game of course, which is to wipe out, but some people don’t realise the phallacy in saying that only their preferred strategy can work. That kind of blinkered view of trading is always going to be wrong.

Yea, I don’t get why people get this way and think there’s only one way to win. And if somebody’s way is different, then they’re wrong. What’s up with that?

[tommor]

Ego?
Imposter syndrome?
An ambition to make money from training?

Who knows.

[samewise]

@tommor

An ambition to make money from training?

Oh yeah, could be. “Follow me, I’m the only one doing it the right way”.

[mtb_rex]

@SovoS

I am so tired of this amateur and superficial perpetuation of the same meaningless, even damaging, advice and myths that have been circulating here on BP since eternity began and where the blind, the ignorant and the naive continue to lead the rest of the blind, the ignorant and the naive into doing the same mistakes that do nothing more than exacerbate the extortionately high failure rate in this industry.

You will not, naturally, like this post, but you can take comfort from the fact that your glib advice did achieve one positive result: This post is now the last post and last visit I will ever make to this site.

You should stick around. Think of it as giving back. You’ve got more to share.

[ponponwei]

@RobyTrade

1- market starts moving toward your SL then
2- oh man ,let me move that silly SL a bit further away from this damn price I am sure that market will return soon, i need just a little more space. i hate losses.

This 1, 2 step all day everyday!!! Or sometimes I don’t even have to do anything it just hits my TP and comes back right around, lovely. Guess who the genius was who set their SL too tight?

[GrayWolfe7]

Couple years. Then last few years got back into software work. Right now trading is more on the back burner, maybe an hour or so daily.

[Ethan.ishere]

@Thetalsa

Watching random people trade on youtube.

There are several approaches to trade. The problem is that each person has their own approach. When you watch those videos more than you should, you just surround yourself with so many different approaches, and that makes you feel lost.