Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

To HateGauteng

Reply
Not applicable
Thought I would put this in a new thread. There are many entrepeneurs who have gone bankrupt 3 or 4 times before finally succeeding. Why should traders be viewed any differently? If you truly believe in this, and it sounds like you do, then i recon you going to bounce back stronger and wiser. I have read trading blogs where guys say it takes 7 years to become successful at trading.
0 Kudos
12 REPLIES 12
Dutch
Frequent Contributor
HG please read Van K Tharp's latest book Super Trader-make consistent profits in good and bad markets. Read it three times and try again. You will make money thereafter...
0 Kudos
SimonPB
Valued Contributor
just use a stop loss .. then youu don't go bust ..
0 Kudos
Not applicable
on a single trade! you can still go bust though, if you try to trade to many signals and don't take note of your drawdowns
0 Kudos
Not applicable
0 Kudos
SimonPB
Valued Contributor
sure you can go bust on one trade .. as you say more systems/signals can expediate that process ..
0 Kudos
Not applicable
Many times the instrument falls right through your stoploss as if it was non existant.
0 Kudos
Not applicable
ja, if you a) try to set a stoploss on illiquid instruments like warrants or b) set your trigger too close to your bottom line price. Issue a) could be resolved if OST ever saw fit to offer stoplosses to trigger in the underlying rather than the warrant price (as they do for SSF's, for example). issue b) is a bigger problem. Personally, I set my stoplosses at level below my actual exit strategy (as a failsafe), but I exit manually.
0 Kudos
SimonPB
Valued Contributor
if it is happening 'many times' yu have a problem somewhere .. and when it does happen, you still exit anyways ..
0 Kudos
Levitt
Regular Contributor
Stops aren't guaranteed, all depends on current bids and offers. Don't keep your sell/buy limit price too close to the trigger. There's extra risk in exiting manually once your stop has been hit, you might hold a bit longer, unless you're disciplined..
0 Kudos
Not applicable
Simon, I recon you guys could make quite a nice product if you offered guaranteed stops. i recon it could be quite easy to implement on warrants.
0 Kudos
asylum
Super Contributor
yes standard bank forex traders guraantess no slipage and all stops and limit orders will be filled up to $2 million, not bad.
0 Kudos
HateGauteng
Super Contributor
Thanks Skaaptjop. The HG is down but not out. I'm familiar with the small business environment and have seen businesses come and go repeatedly. As you said trading is not much different.
0 Kudos