TO Simon

[Brazen]

I don't think mkadir is a t***, james. I think he's a twit.

[James15]

as long as its karma sutra ...i'll be happy.

[#3]

The real answer to this question is anywhere between negative R 1 and several billion....if the literature is to be believed at least 80% of traders make a loss.....so very few actually make profits consistently....this could be evidenced by how many ppl stay around to brag another day on this forum.....from some of the confessions made to me (esp round the DRD debacle) people are able to lose very substantial amounts of money before they realize that they need to change what they are doing. I include myself in this....

[#4]

that was a loss of several billion...(SocGen)

[#5]

Chartist. Thats well said. I could'nt agree more. I've been there lost big time and now i've changed my thinking for the better. Even if i make 1k profit of 60K a day, iam more than satisfied.

[#6]

mkadir....come ...confess to Chartist....how much have you lost? all will be forgiven my son..

[asylum]

yep Chartist i agree, first rule if you think you cant lose then the mother of all losses is around the corner, money management, money management without it youre a gonner. Happy trading

[BusyBee]

Absolutely hilarious! I must say this forum really picks up my day!

[#9]

Chartist. I confess. I lost R160 000. had to sell R500k townhouse for R250k to pay of depts. I was desperate Broe. I got bashed really badly. Thats how i learnt my lesson

[#10]

so here are my top tips for not making consistent profits: We wont even talk about stop losses cause if you are not using them you needn't read any further....stop right now and get on with the job your boss is paying you to do. 1) make sure you put the maximum of defined % of your capital at risk in any one trade (good guide is 5%) 2) Reward yourself - make the money real....go have an extravagant meal or buy that toy you want if you make profit 3) Keep you account at a stable level....i.e. take the profits out of your trading account on a regular basis 4) Never add to your account if you have eaten in to your capital...it will be hard to work with less capital but this way you will learn a lesson 5)After a really good trade take some time out and don't trade for a while....your hubris is your worst enemy and you are very vulnerable after you have made money.

[#11]

Mkadir....thank you my son...your sins are forgiven...go forth and make profits and never &%(&#$@% do that again...R 410 000 is a &%*(#%$^ lot of money!

[John_the_Baptis]

some good advise for us novices.....

[#13]

Chartist. thank you father, I am just gonna carry on making my tiny profits.

[#14]

Mkadir...dont be so quick to get off your knees ...I was just starting to enjoy that

[#15]

LOL. i love this forum

[SimonPB]

chartist, 5% is a lot. I run at closer to 1.5%, albeit off the entire portfolio.

[#17]

agreed....it is too much....should def not be more than this