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BOO HOO. I'm Losing Money Please Help

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The Story of the Trolls.


I joined this forum early 2016 and have contributed throughout the working day everyday whilst trading and was trading contentiously for years before that so I've seen a lot of trolls go through on this and other forums and I've noticed they all follow a similar pathway.


It all starts with a cry for help, they're losing and can't turn it around. People try to help and show them that learning to trade is a process, both their development as a trader and the development of a successful trading plan.


But that's no good, that means work and takes time, they didn't start gambling to do work, there must be an off/on switch somewhere, why won't anyone tell them where it is, why is everyone holding out on them, it's so unfair.


So they spend some time pretending to work but make a game of it, just playing around really waiting for someone to take pity and tell where the switch is.


No ones biting, getting angry now, new approach, start goading and insulting, force people to defend themselves and reveal where the switch is.


Still not working. Make fake claims with no intention of providing any evidence but instead demand others provide evidence the claims are not true, also demand others provide evidence for claims they never made in the first place. Who can forget good ol' Oilfxpro who ended up demanding everyone produce a broker statement signed by an attorney.


And poor ol' dmedin, been losing a grand a month for the last 15 months, not long to go now. But you will notice even after all that he's still not one for listening, he has a filter that just labels everything he doesn't like the sound of as just **** to be ignored. You'll also notice he's never short on giving others advice on trading, seriously.


Gamblers don't survive gambling or trading, their only hope is to learn to discern the difference between the two.
 

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His buddy DSchenk is doing the hard work with some examples and proper analysis. I hope he is making notes there. 

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An opportunity to ask a question I have been pondering after reading dmedin's trading results.

What is an acceptable gain, percentage wise over six months? I'm not a trader, tried that in crypto and failed.

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35 minutes ago, Navarone said:

An opportunity to ask a question I have been pondering after reading dmedin's trading results.

What is an acceptable gain, percentage wise over six months? I'm not a trader, tried that in crypto and failed.

Hi, not really the right question, any plan is acceptable if testing shows it has a positive expectancy (is profitable over n number of trades) and the trader is strong enough to stick to it and not tinker.

A plan looks for a confluence of factors and indications that trigger an entry and an exit, these could be anything, as some on the forum have shown one could even be phases of the moon, it doesn't matter, what matters is that testing shows a profitable points outcome over a a reasonable sample size.

Once you have a working plan on testing the next stage is to practice it live and control the urge to interfere, once you have that then the next stage is to slowly build account size and with it entry position size. 

So it's a flowing process, many times you will fall off and need to start again but by following a process you are not just going round in circles. It's a bit like a computer game where each time you get killed you need to go back to the start and try something a bit different but building on what worked in the previous attempts, eventually you get to the finish line.

Eventually you hope to complete the process and discover you are consistently profitable, not on a trade by trade basis but week by week for a day trader or monthly or yearly for a longer term trader.

Most people don't get to the finish simply because they run out of resources having blown all their money going round in circles in the dark looking for an 'on' switch. 

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Everyone would love to see some examples of your successful trading, Tom.

You've been essentially working for IG for free a long time, how charitable of you, now show us that you're not just another bullsh!tter on the internet. :) 

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2 hours ago, Caseynotes said:

Hi, not really the right question, any plan is acceptable if testing shows it has a positive expectancy (is profitable over n number of trades) and the trader is strong enough to stick to it and not tinker.

A plan looks for a confluence of factors and indications that trigger an entry and an exit, these could be anything, as some on the forum have shown one could even be phases of the moon, it doesn't matter, what matters is that testing shows a profitable points outcome over a a reasonable sample size.

Once you have a working plan on testing the next stage is to practice it live and control the urge to interfere, once you have that then the next stage is to slowly build account size and with it entry position size. 

So it's a flowing process, many times you will fall off and need to start again but by following a process you are not just going round in circles. It's a bit like a computer game where each time you get killed you need to go back to the start and try something a bit different but building on what worked in the previous attempts, eventually you get to the finish line.

Eventually you hope to complete the process and discover you are consistently profitable, not on a trade by trade basis but week by week for a day trader or monthly or yearly for a longer term trader.

Most people don't get to the finish simply because they run out of resources having blown all their money going round in circles in the dark looking for an 'on' switch. 

 

Tom, this is just a repeat of the same old meaningless bullsh!t.  As you said yourself, live trading is nothing like your 'practice' testing.

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4 hours ago, jlz said:

His buddy DSchenk is doing the hard work with some examples and proper analysis. I hope he is making notes there. 

 

You're a retard and a diminutive little w4nker, shove off.

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5 hours ago, Caseynotes said:

force people to defend themselves and reveal where the switch is.

 

Yes, I think you should reveal how many years you've been trading profitably because this would be more helpful than your 15 minute charts and your daily postings of information that everyone already sees in their trading platform.

Why?  Because nobody wants to up like you Tom, for FOUR YEARS working for IG for free, plugging at something that you have no realistic chance of winning - what a waste of time :(

I know where the switch is.  It is in selling training and books, and all the big trading names have done it.  Most of them get most of their income from 'consulting' and 'mentoring' and 'providing thoughtful analysis to DailyFX podcasts and Reuters'.

Edited by dmedin
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23 hours ago, jlz said:

His buddy DSchenk

Hey, who said we're buddies :D 

I'm just somehow seem to slip through the net of insults, probably cause I'm just popping into the forum once every couple of months, then going back undercover - doing the actual work lol ;)

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Tom hasn't been consistently profitable for over four years.

THAT IS ALL THE GLOBALISTS' FAULT :D 

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17 hours ago, DSchenk said:

Hey, who said we're buddies :D 

I'm just somehow seem to slip through the net of insults, probably cause I'm just popping into the forum once every couple of months, then going back undercover - doing the actual work lol ;)

Doing the actual work of losing money you daft tw@t :D 

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Okay.  now I KNOW why I don't make money.  Not because all retail traders are daft idiots who lose money, it's because of the GLOBALISTS.

Tom told me so.

DOWN WITH THE GLOBALISTS!

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This is the 1st forum I've ever joined and been part of in 10 years of trading - I joined in April this year (2020) and it is exactly why for the previous 9 years I've never joined another forum or whatever you want to call them

I had to work at working it all out - its not fair for people to expect it handed to them on a plate - you learn much more from learning and most importantly you work out what doesn't work

Best thing I ever did was jump on a plane to attend the Nov 2010 Traders Expo in Las Vegas - main objective was to ask the right questions and quiz the presenters and stall vendors - learnt that most were talking out of their ar$%'s

Remember having a beer with Joe DiNapoli (of Fibonacci fame) and John Carter (Mastering the Trade book) - learnt so much in 15 mins!

Then again I bumped into John Carter at the London 2012 Expo - bought him a coffee and again had another quick chat

 

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30 minutes ago, THT said:

This is the 1st forum I've ever joined and been part of in 10 years of trading - I joined in April this year (2020) and it is exactly why for the previous 9 years I've never joined another forum or whatever you want to call them

I had to work at working it all out - its not fair for people to expect it handed to them on a plate - you learn much more from learning and most importantly you work out what doesn't work

Best thing I ever did was jump on a plane to attend the Nov 2010 Traders Expo in Las Vegas - main objective was to ask the right questions and quiz the presenters and stall vendors - learnt that most were talking out of their ar$%'s

Remember having a beer with Joe DiNapoli (of Fibonacci fame) and John Carter (Mastering the Trade book) - learnt so much in 15 mins!

Then again I bumped into John Carter at the London 2012 Expo - bought him a coffee and again had another quick chat

 

actually there are some very good forums about it's just that this one is only vaguely monitored by the moderators. On better forums rampant infantile trolling and flaming is automatically stamped out

Edited by Caseynotes

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5 minutes ago, Caseynotes said:

actually there are some very good forums about it's just that this one is only vaguely monitored by the moderators. On better forums rampant infantile trolling and flaming is automatically stamped out

Hi - Yeah I know - I should have said another reason for avoiding them is to get me away from a computer screen too

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28 minutes ago, TheGuru12 said:

lol, What's going on here? What's with all the negativity dudes and dudettes? 

..seems not exactly what Nicola Duke said ("compete with yourself, cooperate with others")...

 

(https://chatwithtraders.libsyn.com/rss, around min. 38)

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27 minutes ago, THT said:

Hi - Yeah I know - I should have said another reason for avoiding them is to get me away from a computer screen too

I think we all have better things to do if threads that have had a lot of work put into them are systematically trashed by someone literally just ranting about faece s.

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On 17/10/2020 at 23:23, Caseynotes said:

Hi, not really the right question, any plan is acceptable if testing shows it has a positive expectancy (is profitable over n number of trades) and the trader is strong enough to stick to it and not tinker.

A plan looks for a confluence of factors and indications that trigger an entry and an exit, these could be anything, as some on the forum have shown one could even be phases of the moon, it doesn't matter, what matters is that testing shows a profitable points outcome over a a reasonable sample size.

Once you have a working plan on testing the next stage is to practice it live and control the urge to interfere, once you have that then the next stage is to slowly build account size and with it entry position size. 

So it's a flowing process, many times you will fall off and need to start again but by following a process you are not just going round in circles. It's a bit like a computer game where each time you get killed you need to go back to the start and try something a bit different but building on what worked in the previous attempts, eventually you get to the finish line.

Eventually you hope to complete the process and discover you are consistently profitable, not on a trade by trade basis but week by week for a day trader or monthly or yearly for a longer term trader.

Most people don't get to the finish simply because they run out of resources having blown all their money going round in circles in the dark looking for an 'on' switch. 

You're right, not the right question. I would of thought (as a complete innocent) this market would be quite an easy one to make money in, the trend is your friend. But hey, I'm innocent.

I've done quite well just buying and holding (admittedly the money is not made until it's in the bank) over the last seven months. I wonder what the OP wants? To make money or be a trader at all cost's. 

Why would one cry about losing money when there is more than one way to skin a cat. Small caps can also be good earners with a bit of research.

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1 hour ago, Caseynotes said:

Nic Duke is an old hand from the Trade2Win forum and a good friend of Tom Dante.

thanks - will check out the forum and Dante's posts on twitter and youtube

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3 minutes ago, Navarone said:

Ooopps. My bad. Not OP but one who does Boo Hoo. 

👍

Peeps should only really be risking real money near the end of the process not right from the start, it doesn't matter then if the process takes years to complete as it will do for many.

 

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1 minute ago, HMB said:

yes, sorry, should have tried it first - thanks

no worries, thanks for reminding me of the site, must look through and see who's new, not looked for a few years.

ps; Tom Dante is number 039.

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5 hours ago, Navarone said:

Ooopps. My bad. Not OP but one who does Boo Hoo. 

I fear that my online love affair with the Nikkei may be ending.

 

 

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10 hours ago, AndrewS said:

I fear that my online love affair with the Nikkei may be ending.

 

 

 

 

 

Yes it is a wildly random market that doesn't lend itself to TA at all.  Maybe those inscrutable Japanese have developed their own methods that the West doesn't know yet?  Certainly the Ichimoku cloud is worse than useless these days.

BTW, have you been 'consistently profitable' for a period of at least five years?  Maybe TA is not the answer :(

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48 minutes ago, dmedin said:

 

 

 

Yes it is a wildly random market that doesn't lend itself to TA at all.  Maybe those inscrutable Japanese have developed their own methods that the West doesn't know yet?  Certainly the Ichimoku cloud is worse than useless these days.

 

 I broadly agree with the OP that learning to trade is a process and there is no off/on switch.

 In one thread you likened chart reading to reading horoscopes, but for me it is more like reading footprints in the sand. If one footprint has sunk deeper in the sand then there is likely to have been more weight above it.

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9 minutes ago, AndrewS said:

 I broadly agree with the OP that learning to trade is a process and there is no off/on switch.

 

 

By 'learning to trade' do you mean losing money year after year, when a simple buy and hold S&P 500 ETF would make 7 - 9% annualized returns?

If so, 'learning to trade' sounds like something only a stupid person (for example, a retail punter who thinks he can get 30% returns consistently year after year) would fall for.

No wonder the only people making money are the ones selling training courses and other cr@p to retail punters :D

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