Jump to content
International Workers' Day & Early May Trading Hours ×

BOO HOO. I'm Losing Money Please Help

Caseynotes

Recommended Posts

Caseynotes Honoured Contributor

Caseynotes

Posted
Posted

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.
 

  • Like 1
  • Great! 2
  • Sad 1
Link to comment
Caseynotes Honoured Contributor

Caseynotes

Posted
  • Author
Posted
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. 

  • Sad 1
Link to comment
dmedin Super Contributor

dmedin

Posted
Posted
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.

Link to comment
dmedin Super Contributor

dmedin

Posted
Posted (edited)
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
  • Sad 2
Link to comment
DSchenk Established Contributor

DSchenk

Posted
Posted
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 ;)

Link to comment
dmedin Super Contributor

dmedin

Posted
Posted
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 

  • Great! 1
Link to comment
THT Valued Contributor

THT

Posted
Posted

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

 

Link to comment
Caseynotes Honoured Contributor

Caseynotes

Posted
  • Author
Posted (edited)
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
Link to comment
THT Valued Contributor

THT

Posted
Posted
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

Link to comment
Caseynotes Honoured Contributor

Caseynotes

Posted
  • Author
Posted
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.

  • Like 2
Link to comment
Navarone Occasional Contributor

Navarone

Posted
Posted
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.

Link to comment
dmedin Super Contributor

dmedin

Posted
Posted
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 :(

Link to comment
AndrewS Regular Contributor

AndrewS

Posted
Posted
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.

Link to comment
dmedin Super Contributor

dmedin

Posted
Posted
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

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Go to topic listing

  • image.png

  • Posts

    • XTRAVAGANZA
      Kamino Finance Makes DeFi a Breeze on Solana

      By XTRAVAGANZA · Posted

      Kamino Finance is shaking up the world of Decentralized Finance (DeFi) on Solana by simplifying complex processes for both market makers and everyday users.  For market makers, Kamino automates the often-complicated task of managing concentrated liquidity positions. This not only saves time and effort but also potentially leads to higher yields through optimized strategies. Regular users benefit as well with Kamino's user-friendly interface that allows them to simply choose a vault and deposit funds. Kamino takes care of the rest,  helping users earn passive income and participate in the DeFi ecosystem.  With its focus on automation, optimized yields, and frictionless compounding, Kamino Finance is making DeFi more accessible and rewarding than ever before.  Their native token is also scheduled to list on the Bitget exchange today, offering another exciting entry point for those interested in Kamino's innovative approach to DeFi.  
    • MongiIG
      FTSE skyrockets to new heights, outperforming global indices with impressive weekly gain

      By MongiIG · Posted

      The FTSE 100 eclipses its all-time high with a 3.1% gain amid UK growth optimism and inflation ease, while the DAX ends its losing streak with a 2.30% rise, ahead of crucial Eurozone data.   Source: Getty   Indices Inflation Recession Interest rate European Central Bank Eurozone Written by: Tony Sycamore | Market Analyst, Australia   Publication date: Tuesday 30 April 2024 06:19 The FTSE made a significant move last week, surging above its all-time 8047 high, and locking in a healthy 3.1% gain for the week. At the same time, the DAX snapped its three-week losing streak to finish the week 2.30% higher. The trigger for the FTSE's burst higher last week was additional signs that the UK growth profile is improving. This is a key factor to watch, as it could potentially influence the FTSE's performance in the coming weeks. Last week's flash PMI came in at 54, beating the 53 expected. At the same time, a softening inflation profile is opening the door for the Bank of England (BoE) to cut interest rate. Finally, after trading sideways for the better part of fourteen months, its valuations are attractive compared to its offshore counterparts. While the German stock market doesn't screen as particularly cheap, it has benefited from improving growth and inflation profiles. Both factors will be scrutinised tonight when Q1 GDP and inflation data for April are released. What is expected from EZ Q1 2024 GDP? Date: Tuesday, 30 April 7pm AEST In the last quarter of 2023 (Q4), the Eurozone unexpectedly avoided recession as firmer growth in Italy and Spain offset contraction in Germany, resulting in a growth rate of 0% following a 0.1% contraction in the third quarter. Anaemic growth in the Eurozone during the second half of 2023 was due to elevated interest rates, high inflation, a slowing global economy and heightened geopolitical tensions. In recent months, the European Central Bank (ECB) has acknowledged that inflation is on the right path to converge on its target and has signalled that it is expecting to ease monetary policy as early as June. The market anticipates imminent ECB interest rate cuts, which, coupled with a resilient global economy, has significantly improved the outlook of business surveys and PMIs in the Eurozone. This improvement will likely be reflected in tonight's GDP release, with the market forecasting a rise of 0.2% QoQ. Euro area GDP annual growth rate chart   Source: TradingEconomics Inflation outlook Date: Tuesday, 30 April at 7pm AEST In March, headline CPI fell to 2.4% YoY in March from 2.6% in February. The Core rate cooled to 2.9%, its lowest rate since February 2022. This month (April), the consensus is for headline inflation to fall to 2.4% YoY in April, with core dropping to 2.6% from 2.9% prior. DAX technical analysis In our last update, we noted that a "short covering rally from here would not surprise", which would be viewed as the second wave (or Wave B) of a three-wave ABC correction from the 18,567 high. This remains the case, with the rally from the 17,626 low viewed as Wave B, which should not exceed resistance in the 18,400/550 area and be followed by another leg lower (Wave C) towards the 17,500/300 support zone. We will be looking closely for signs of basing in this area to establish longs. DAX daily chart   Source: TradingView FTSE technical analysis We have maintained a bullish stance in the FTSE since it broke above downtrend resistance in mid-March, coming from the February 2023, 8047 high. Last week, we noted that while "the FTSE holds above support at 7760ish, expect a break of the all-time high at 8047 before a push towards 8250." Providing the FTSE remains above support at 8,000 we continue to look for a test of 8250, with scope to 8400. Aware that should the FTSE lose support at 8,000 on a sustained basis, it would warn that a deeper pullback is underway initially to 7800. FTSE daily chart   Source: TradingView Source Tradingview. The figures stated are as of 30 April 2024. Past performance is not a reliable indicator of future performance. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation.     This information has been prepared by IG, a trading name of IG Australia Pty Ltd. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
    • MongiIG
      Market update: USD/JPY plummets after speculation of FX intervention

      By MongiIG · Posted

      USD/JPY nosedived from 160 to 155 after a Bank of Japan meeting, fueling FX intervention rumors during Japan's Golden Week, spotlighting interest rate impacts.   Source: Getty   Forex Shares Japanese yen USD/JPY United States dollar Inflation Written by: Richard Snow | Analyst, DailyFX, Johannesburg   Publication date: Tuesday 30 April 2024 05:10 USD/JPY registers massive decline, stoking intervention speculation The USD/JPY tagged the 160 mark, and immediately dropped towards the 155 level as speculation around possible FX intervention did the rounds on Monday morning. The early surge in the pair came off the back of Friday’s disappointing Bank of Japan (BoJ)’s meeting, where Governor Ueda mentioned that the weak yen has no significant impact on inflation. Japan is currently on holiday for Showa Day, one of the holidays observed during Golden Week. Further holidays will be observed this Friday and Monday next week. The bank holidays naturally present a lower liquidity environment which can help advance a sharp, large move in USD/JPY. USD/JPY 5-min chart   Source: TradingView Bigger picture: why FX intervention is likely to be ineffective FX intervention could provide a short-lived boost for the yen because ultimately, yields and rates matter in the longer run. The USD/JPY rose in consistent fashion in the first quarter of 2024 as low volatility conditions favour the ‘carry trade’. The interest rate differential between the US and Japan is over 5%, meaning traders and investors were more than happy to collect the positive carry at a time when hotter US inflation buoyed the greenback. If what we have observed today is, in fact, an effort from Japanese officials to strengthen the yen, then it is likely the market views any sizeable decline in USD/JPY as an opportunity to go long at more attractive entry levels as the US-Japan rate differential is unlikely to narrow any time soon. The issue was made worse by comments from the BoJ Governor Ueda that the yen’s weakness does not have a significant effect on inflation. Therefore, it appears the Bank is not looking to hike simply to defend the local currency. Furthermore, Ueda mentioned he does not have a predetermined timeline for the next hike, which has been perceived as dovish. USD/JPY daily chart   Source: TradingView The weekly chart helps portray the longer-term bull trend and reveals the confluence area of resistance around the 160 mark. The pair approached channel resistance and the important 160 mark before reversing sharply lower. 155 remains a key level, if prices can close below it on the daily candle today. USD/JPY weekly chart   Source: TradingView Major risk events ahead: US treasury QRA, FOMC and NFP Perhaps the biggest risk to the recent lower move in USD/JPY is the FOMC meeting on Wednesday. However, there are several high importance US events and data that can impact USD/JPY. On Monday, the US Treasury will detail how it plans to fund the government, detailing a mix of shorter and longer-term issuances (mix of T-bills, notes and bonds). Then on Wednesday, markets will be on the lookout for a greater acknowledgement of re-accelerating inflation from the Fed but the committee could also downplay recent inflation surprises as disinflation is broadly observed. US ISM manufacturing PMI data is likely to attract more attention than usual after the S&P Global survey now sees the sector as having dipped into a contraction. Friday ends the week off with non-farm payrolls, where it is expected that the US economy would have added another 243k jobs for the month of April. Therefore, the prospect of growth concerns, combined with hot inflation and a strong labour market provides the Fed with a lot to think about as high interest rates risk weighing on economic growth but is also necessary to calm resurgent price pressures. Economic calendar   Source: DailyFX       This information has been prepared by IG, a trading name of IG Australia Pty Ltd. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

Markets

Forex

Indices

Shares

Other markets

IG services

Spread betting

CFD trading

Share dealing

Trading platforms

Web platform

Trading apps

Advanced platforms

Compare features

About Us

How we support you

What we do with your money

How does IG make money?

Professional trading

Contact us

Post topic on Community

Browse Help and Support

Education on Academy

Tweet us @IGClientHelp

UK

IG | Sitemap | Terms and agreements | Privacy | How to fund | Cookies | About IG

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.

The value of shares, ETFs and ETCs bought through a share dealing account, a stocks and shares ISA or a SIPP can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.

CFD accounts provided by IG Markets Ltd, spread betting provided by IG Index Ltd and share dealing and stocks and shares ISA accounts provided by IG Trading and Investments Ltd. IG is a trading name of IG Markets Ltd (a company registered in England and Wales under number 04008957), IG Index Ltd (a company registered in England and Wales under number 01190902) and IG Trading and Investments Ltd (a company registered in England and Wales under number 11628764). Registered address at Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA. IG Markets Ltd (Register number 195355), IG Index Ltd (Register number 114059) and IG Trading and Investments Ltd (Register number 944492) are authorised and regulated by the Financial Conduct Authority.

The information on this site is not directed at residents of the United States, Belgium or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

© 2003 - 2020

IG | Terms and agreements (UK) | Privacy (UK) | Cookies | Investors | Careers | Marketing partnership

×
×
  • Create New...
us