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To HateGauteng

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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.
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12 REPLIES 12
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...
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Valued Contributor
just use a stop loss .. then youu don't go bust ..
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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
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Not applicable
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Valued Contributor
sure you can go bust on one trade .. as you say more systems/signals can expediate that process ..
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Not applicable
Many times the instrument falls right through your stoploss as if it was non existant.
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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.
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Valued Contributor
if it is happening 'many times' yu have a problem somewhere .. and when it does happen, you still exit anyways ..
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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..
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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.
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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.
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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.
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