how many pips did you lose before becoming a succesful trader? - Page 2
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Thread: how many pips did you lose before becoming a succesful trader?

  1. #11
    Quote Originally Posted by ;
    What about if you still loosing pips yet your are successful and make money each month?
    How exactly does that work? Unless of course, the price starts to retrace out of the TP in which case, the loss would be an assumed loss and not an actual one. .

  2. #12
    Quote Originally Posted by ;
    quote How does that work? Unless of course, the price starts to retrace from your TP in which case, the reduction would be an assumed loss and not a real one. .
    Well just think about it. You can average down, martingale, scale positions. Lots of tools and possibilities. For instance: Should you buy .1 lot in the beginning degree and you have x amount of amounts you will use to scale until you bail out and when every degree was progressively bigger in volume .1 , 1.3, 1.8 etc along with your TP transferred down since you opened more amounts so it was still sufficient to maintain your profit and advantage, then You might have a situation where you're loosing pips but because your winners are larger in volume which you still earn money. So down you .1 lot 100 pips however you acquire 1.3 @ 80pips. I think that makes sense. I made a lot out because there are many varibles, and I can already assume the response I will get from FF.

  3. #13
    Quote Originally Posted by ;
    quote Well just think about it. You could average down, martingale, scale positions. Lots of tools and possibilities. For instance: If you buy .1 lot in the beginning level and you have x amount of amounts you may use to scale before you bail out and if every level was progressively bigger in volume .1 , 1.3, 1.8 etc along with your TP moved down as you opened more amounts so that it was sufficient to keep your profit and advantage, then You might have a scenario where you're loosing pips but as your winners are larger in quantity which you still make...
    This is very similar to what I do - keep actual leverage low enough which you can continue to scale positions (no SL). Haven't had to bail out on one yet this year - but have generally exchanged a lot with trend (or range if merging) which places the odds firmly in your favor and I exchange NZD a lot that I feel is 'capped' to the upside.

  4. #14
    How many pips did you shed before becoming a successful trader?

    Terrible logical fallacy to believe you need to lose until you can win - or that success means that you need to lose first, and that losing is a means to success. .

    If you are losing what makes you feel you will even win ...

  5. #15
    Quote Originally Posted by ;
    how many pips did you shed before getting an effective trader? Bad logical fallacy to think you need to lose before you can win - or that success means that you need to lose first, and that losing is a means to success. . If you're losing what makes you think that will even win ....
    Good point Ming, the way to stop losing is to stop trading, temporarly.

    Reconsider your egy, your discipline and your attitude and restart trading, if a method is a loser, it won't ever become a winner, you need to modify something in it.

  6. #16
    Quote Originally Posted by ;
    quote Great point Ming, the way to stop losing would be to stop trading, temporarly. Reconsider your egy, your subject and your mindset and then restart trading, if your egy is a failure, it won't ever become a winner, you have to change something in it.
    Really.
    I may be the only one, but I believe it is impossible to construct on a negative.

  7. #17
    haha. quite new. But I don't have the numbers but I turn profitable in 2013.
    That is once I paid $5k to get a offline course conducted locally at Singapore.
    Roughly about $2 - $3k in tuition fees like chatroom and online course.
    Then around $10k pour into the mouth of the FX market.

    Have I made the preceding investment back? Nope. Not yet.

    How long have I ever been trading? Approximately 7 decades. Started in 2006.

    Why I persist? Because dream is like the best sex you ever needed. So I hope to dream it.

  8. #18
    Quote Originally Posted by ;
    quote Well just consider it. You can average down, martingale, scale rankings. Lots of possibilities and tools. For instance: Should you buy .1 lot in the beginning degree and you have x amount of levels you will use to scale before you bail out and if every degree was progressively bigger in bulk .1 , 1.3, 1.8 etc along with your TP moved down as you opened more levels so that it was enough to keep your profit and edge, then You might have a situation where you are loosing pips but because your winners are larger in quantity you still earn...
    Ah Scaling..and on the variables, yup, that about sums it directly . .thanks for your exp. .

  9. #19
    Quote Originally Posted by ;
    the number of pips did you shed before getting a successful trader? Bad logical fallacy to believe you need to lose before you can win - or that success usually means that you need to lose, and that losing is a way to success. . If you're losing what makes you feel you may win ....
    Hello ,

    that I feel the true fallacy is that traders are hoping to be succesfull right from beginning, and most of them are failing to know how to manage their losses and to survice the game at the medium term (months or most likely few years) in order to reach the next phase and to develop into profitable afterwards.

    Perhaps my choice of words was not the best -you can use discard instead of lost, but I hope that the significance of my question was clear. One can consider the lost pips during training period because the essential cost to get to another level. However, a number of these items become evident only in retrospect, and my question was addressed to all those traders who are already always profitable.

    To achieve a professional standing in almost any area one needs to devote many hours of study and to pay attention to your job. Having ability helps, but is not enough. How many hours a piano player or a surgeon dedied to get in the top of their subjects? 100 hours, more than 10000 hours or 1000 hours ?
    Actually a better question is how many hours did you want to study in order to be a succesful trader?

    Notice that it is your choice to prohibit yourself from this thread (that isn't my occupation, however yours) - that I let you decide if your gifts are positive or not.

  10. #20
    Around the same. I'd guess at the order of 10s of thousands. All fairly cheap, though (less than #1).

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