How To Stop Chasing Losses
2021年6月10日Register here: http://gg.gg/uxq3m
*How To Stop Chasing Gambling Losses
*Trailing Stop Losses
*How To Stop Chasing Gambling Losses
*How Do I Stop Chasing Losses
How to Stop Chasing Gambling Losses Have a Gambling Limit. It is essential to limit the amount you can use for gambling, irrespective of the number of times. Avoid Banking on Results While Gambling. Many people make the mistake of calculating their chances of winning through. Find Out The Top 10 Most CRINGEWORTHY Mistakes Guys Make With Women at!! Chasing losses leads the gambler to gamble with more than he or she can afford to lose, and often to borrowing money in an effort to get even. Many gamblers may chase for short periods, until they learn from bitter experience that this is counter-productive. Pathological gambling is defined by the long-term pre-occupation with chasing losses.
I gotta get back my $1,000 losses and try to win it back. that was the thought that keeps on playing on my mind ater I stopped again for 30 days and I did go back to the action table.this time I told myself if I recover the $1,000 dollars I lost last march 3, I will stop for good.so after a month I brace myself to go back and play.april 3 I went and played another 1000 and lost again. I see a pattern here.
Man, I just can’t stop. I got to get back and recover my losses. Really thought I conquered this habit and yet I’m going to the path of self destruction again I don’t want to but I want to.
comes April 22 , we have a Reno trip and this time I will just go but I won’t gamble. I promise myself that I will never lose again. See you back after April 22 and see what happened if I gamble or not. but I already have a plan and I will stick to it. another beginning.
It all started with me inviting my friends to watch a free concert to be held of all the places.. yap in the casino. I already have had 95 days of gambling free and I really thought that I would be strong enough to resist playing blackjack again. so, off we go with a solid plan that I wouldn’t touch a single card of blackjack nor I would be roaming around to watch the action. I really had that keen resolve not to gamble.
We were in the casino and headed toward the concert venue. We can’t get a seat and my friend decided to play blackjack with me tagging along watching him win. I excuse myself telling him that I’ll just go take a leak and while I headed my way to the restroom, a single spark of thought tells me to do an ATM run. At first I really planned at that time to try a hundred buck, eventually I lost and what the heck, I want to get even and recover my hundred bucks, lost again and decided to withdraw 300 more. you see I had this 500 limit withdrawal on my ATM card. Oh boy, you guessed it , I lost again !I was telling myself that if I could only bring back the 500 that I lost I’ll stop. I waited until 12 midnight so I could withdraw another 500 and really stop for good. I end up losing the second 500 which make my losses a total of 1000 dollars.
I lied to my friends when they asked how much did I lost. Told them that I got even. I realize afterwards that if challenge ourselves to go near the fire, we’ll burn. The casino is the fire. I got burned. Now I see the pattern. I bet, I lost, I chased, I lied and I realized. But still I didn’t stop still. I challenged and I am beaten again. I got my second time of losing. Read tomorrow..
I haven’t gambled since thanksgiving day and that makes it 96 f***ng days of gambled free life (for a while).
Then suddenly.. the RELAPSE !!
I wouldn’t say suddenly but it is ( the thought of gambling ) all sitting in my addictive mind ready to be manifested and I did it. I went back to the casino and lost that freaking thousand and I’m so disappointed with myself. I realized that I couldn’t rest on my laurels and be complacent that lasting almost 3 months over, maybe I thought that I would be gambling free for the rest of my life. I thought when I declare to the whole world ( to my friends and family circle )that I finally stopped gambling is a sure thing for me.
I should have been vigilant about my action and my inaction that lead me to relapse and now the thought of getting back my losses haunts me. The big chase of getting back my thousand dollars and head back to the casino is playing on my mind, ready to unleash itself and start my gambling binge again. I’m so afraid that it will lead be back to my old ways again.
I want to stop ( again ? ) and yet the other side of my mind wants to go back and get even. You gotta get back that freaking thousand dollars you lost and then stop for sure after getting it back, my other mind ( that gambler mind )would tell me. and yet the thought of stopping for good (my logical mind ) reminds me that it’s not worth it to chase my losses.
So, how did I end up relapsing ?
If we continue gambling, we chose to die. die of financial stress, emotional fatigue, and drain our humanity.
If we stop gambling, we chose to live. to live in bliss and in peace, knowing we still have cash on hand. it brings peace.
Choose to live or die..
I’ll choose to stop and live another day. what’s your choice. You only got two choices.
In gambling if you quit, you win !! quitters are the biggest winners. Ironic ha ?
Focus on what is essential and concentrate on your goal. If your goal is to stop gambling for good, COMMIT !! Remember commitment is CHOICE that we have to keep doing again and again and again..
Make that choice to stop. COMMIT..
Hope lies eternal. As long as we hope to move forward and mend our ways, we will never get lost. Hope brings us here in this website hoping for a cure. Hope is within ourselves. let’s hope to continue healing ourselves and we’ll know after sometime we are gambling free !!
It’s been awhile since I came here. life has been tough and yet after all those years I continue to struggle. I’m struggling to be gambling free, for a start this whole month of December. I’ve been telling myself that for a change I will say NO to the very first gambling invitation. I’ll start this very first day of December and hopefully count until 365 days had passed. Everyday you will see me here so just read on..
Really thought that I beat this gambling addiction for good. but oh boy, I’m wrong. though my finances had improved and made a 360 turn around and I had paid all my credit cards and yet just one slip of the mind I went back to blackjack table and started playing again. I lose a thousand and I’m planning to get it back. I’m on the crossroad. which way I am going. the other half of my mind is pushing me to go back to the table but my right side brain is telling me to say NO. before I’m listening to my first thought but now I’m so ready make alliance to my right side brain and say NO. my alter ego is telling me ’ you can do it ! ’ and I’m sure I can and I will.
This is my first step.. my road to recovery !!!!
Really thought that I conquered the battle over gambling addiction. I can’t recall how many times I ever said to myself that ’ this will be the last time I will gamble ’, yet to no avail I always fell into a trap. I always wish that my gambler friend will relocate elsewhere to escape his constant invites to go with him to the casino and that the casino will burn so there will be no excuse for me to return to that place. my wish was granted on the first one and a sigh of relief and breathe of gratitude minus the one big influence in my life. my friend’s family moved to san Diego. but my second wish which I thought is kind of weird is so far fetched to happen , unless by stroke of luck or misfortune the casino which I go through will ever come down to ashes. they will always build another one whether it burned or not. Well, enough of this childish wimps.
No one, I say no one can ever be strong if you don’t exert all your effort in fighting this demon. You got to be focus and really determined to fight this of and stand firm on your decision to quit. you got to put all the intensity to the highest degree to win this battle. It’s a slow process, taking one day at a time. Another passed without gambling is a small step towards victory. slowly, slowly burn your candle but keep up the light. The light which is your guide to a brighter tomorrow knowing you are hanging on saying NO to every gambling invitation. standing firm with such conviction to say YES TO MOVE FORWARD TO A LIFE WITHOUT GAMBLING. Believe in yourself with the sincerest desire that you can make it.
And yet, today-again I declare that this will be the first day of the rest of my fruitful life. The past is a thing of the past. I’m not looking back and I am allowing myself to move forward, onward with keen resolve and so much faith in God and myself that I can conquer. I’m a conqueror and I am a victor !! I a taking one day at a time. I will be gentle to myself.
Healing is a process. I will allow time to heal me gradually. to ripen at my own time. So when I finally taste the fruit it will be sweet.
slow burn.
This actually works for me. I talk to myself in a Positive reinforced way and it just flows man.
Today is the first day of the rest of my fruitful life.
Finally I can say with conviction that I am finally over with gambling.
Never again will I come back to any casino nor play blackjack anymore.
I have forgiven my self and asked forgiveness to people whom I hurt most.
I will say NO to every gambling invitation no matter what.
I don’t wanna punish myself and I’m giving myself a chance to be gambling free forever.
July 29, 2005 I Quit Gambling! It was very similar to quitting smoking 10 years ago, I must have quit at least 10 times, but always went back to those damn things. I have attempted to quit going to Casino about the same amount of times. Every time I go, I feel the slight high when I fill my bucket with the dirty old tokens, anxiously waiting to find the next machine to drop them into, anticipating the Big Jackpot..and then losing the bucket. The casino won again, this time, last time, and the time before that. But..in my upcoming Journals, I want to talk about that - its therapeutic for me but today, I am angry, pissed off, feeling guilty, tired and wondering how I am ever going to get back on track financially. I am not going to let that get me down, I a moving forward, I am going to be proactive and look for a new hobby that does not effect my family or livelihood. Till next time :)
Today is day four since I have played video poker. I was in two casinos yesterday and didn’t play at all. One I work in and have to walk through each day and the other one I went to meet friends for a drink..something I haven’t done in over a year and a half, maybe 2 years. I used to meet these friends/co-workers every week but my gambling interfered with those good times. Luckily they decided to meet again and reached out to me to join them. I had a wonderful time and afterwards went straight home. I know that 4 days doesn’t seem like a long time, but I usually play every day or at least 5-6 days a week. So for me, that is quite an accomplishment. We have made plans to meet again next week. I feel good. I am happy and pleased with myself. Soon I will reward myself by spending some of that money I would have lost on something nice for myself.
I came into some quick money and the first thought in my mind was ..lets have a bet buddy..so off I went with 3k..got a 1k up then it was all down hill. I’m thinking its not so bad that I lost as its now impossible to get anything outta that god dammed place..and I still have my sanity and good bank balance left.so please .I’m not going back there big casino, and thanks for teaching me to be humble and here’s to a new casino free life enjoying my time..letting bygones and past punting mistakes rest.. onwards I walk with dignity and all gambling urges will be seen as a waste of my precious time and sanity..
Thought I’d put a few thoughts together for us all to see..to re enforce the futility of a gamblers lot in life ..I was into casinos in a big way, because I’m not used to loosing basically..who is..but to be legally robbed by government rules is a rough cookie to crumble. But hey I know they have taxes and bills to pay so ,okay casino keep my money but your not getting any more; in fact next time I visit you will be to eat your cheap food and accommodation and that’s all you’ll get from me..I lost, you won now leave me alone to pick myself up and walk tall..I see through your promises of instant riches ,through this web site I’ve read how you’ve killed and maimed so many, but like the holocaust survivors ,we will be a witness to your deeds..one day I’ll go to Vegas and laugh out at how stupid you look in your bright lights, AS I’ll be in control of my gambling impulses ,and you will say..another ex gamblers been saved..and what’s more we might even be in the majority, imagine if people sore through gambling’s promises and only bet there pocket money..casinos would go outta business...here’s hoping ********
It’s day’s like these I dread the most . The day after spending the entire cheque on gambling. I was so desperate for money to win back my losses, I stole $30 from my sisters piggy bank. Now, I feel nauseated, worried, and depressed. Why does this always happen? Its days like these I make promises to myself that ill stop gambling. And I always seem to break them. It has come to a point where most of every body knows that I gamble, and this is what I don’t like. Please tell me or guide me to a better tomorrow. I’m tired of breaking promises. I need help.
If there has ever been one aspect that I have beaten into the hearts of traders who have graced my website over the years, it is the need to use a stop loss order on every single trade that they take.How To Stop Chasing Gambling Losses
They will keep you in the trading game, keep your losing trades within reason (assuming you aren’t trading penny stocks, in which a stop loss order won’t do anything for you), and it is going to help you consistently profit at a high rate.
When it comes to trading tools, stop loss orders are probably the most important trading aspect of making sure you do not blow out your account. You are using this order type to make sure that if the market decides to sell off and take all your positions down with it, that you aren’t holding on until it feels emotionally acceptable to sell. Instead you have already drawn the line in the sand so that you know where to get out at, instead of relying on your emotions to determine that.
By using stop loss orders, you are also making a very important aspect of trading a very mechanical one and leaving your whims of emotions, that face traders daily, from getting out of hand.
So use stop loss orders, know before you even get into the trade what your stop loss will be and never lower the stop loss ever..on any trade. If you widen your stop loss once you are in the trade, you are making an emotional decision out of fearing that the market will take you out of your trade and then rally higher. That is a horrible excuse. Whens stops get hit, there are only two directions that a stock can ultimately take - either up or down. So yes, there will be a large number of stocks that will breakout higher after you get out. That is part of trading. When it comes to using stop loss orders you must apply these four important tips:
*
Use hard stop loss orders
*
Use stop loss orders work best in tight situations
*
Use stop loss orders to trail profitable trades and insure you keep the majority of your profits
*
Use stop loss orders to protect you from yourself
Let’s go over each one.Use hard stop loss orders
It is the belief of many traders that somehow they will always be in control. That they can also react fast enough or be around when necessary to take the right actions. That is simply wrong on all accounts. The first step to trading is recognizing that you are not in control. That the market does what it wants to do and that you do not have an opinion in the matter.
You can only react to what price does to the positions that you are in. Whether it is laziness, fear or overconfidence, many traders like to use mental stop-losses.
Please, PLEASE! Don’t do that!
Mental stops are bad news. They will eventually kill your portfolio and cause you to take bigger losses than what you would have ever expected to take.
They will also kill your profit/loss ratio.
Let’s say, for the sake of conversation, that you buy a stock at $100 and instead of using a hard stop loss order, you use a mental stop loss of $95. That mental stop-loss is hit. You put your order into sell, but buy the time your order to sell the stock is placed, you have seen the stock drop down to $94.80. Only twenty cents you say? Well do that consistently, and you are going to find yourself losing a lot of capital simply because you decided to use a mental stop instead of a hard stop-loss that will get you out of the position as soon as the stop-loss price level is triggered.
But even more dangerous than the scenario that I just laid out for you, is the fact that most people who use a mental stop loss order do not have the discipline to get out of the trade immediately when the stop loss is hit.
RELATED:3 Trading Strategies for Increasing your Stock Market Profits
In fact I would say the very fact that one uses a mental stop loss order is usually due to either a lack of discipline, or a lack of faith in one’s own trading methodology.
You see, when the stop-loss is hit at $95, the initial response by the trader is to see whether it just touches the stop loss and then bounces higher, because as you all know, we all hate having our stop loss be the low tick of the stock in a given trading session, only to watch the stock spend the rest of the day recovering. So as a result, we don’t take the loss, and that very approach by its own definition, means that you are willing to take a bigger loss, just to make sure your original stop loss wasn’t the low tick. Stop loss orders work best in tight situations
You don’t have to trade with stop loss orders that are ten percent away from your entry price. First, your risk/reward ratio is going to be very much skewed to the risk side. But more importantly, trading with tight stops will actually improve the risk/reward profile of your trading strategy that you employ.
When I trade in the Splash Zone, and when I am stopped out it is usually no more than about 2-3% with most of the timesit being somewhere in the 1% range. That means I can make at least a 2:1 profit on the risk when I profit between 4-6%. To duplicate that on a 10% stop loss order, means that you need to make 20% just to come away with the same profit/loss ratio.
Remember, the profits are in the risk-reward. If you aren’t profiting enough to cover the risk, then you simply are not profiting in your trading strategy. Keep risk tight and it makes profiting so much easier. But if you keep the risk large and the stop loss orders wide, then you will find profiting in the s
https://diarynote-jp.indered.space
*How To Stop Chasing Gambling Losses
*Trailing Stop Losses
*How To Stop Chasing Gambling Losses
*How Do I Stop Chasing Losses
How to Stop Chasing Gambling Losses Have a Gambling Limit. It is essential to limit the amount you can use for gambling, irrespective of the number of times. Avoid Banking on Results While Gambling. Many people make the mistake of calculating their chances of winning through. Find Out The Top 10 Most CRINGEWORTHY Mistakes Guys Make With Women at!! Chasing losses leads the gambler to gamble with more than he or she can afford to lose, and often to borrowing money in an effort to get even. Many gamblers may chase for short periods, until they learn from bitter experience that this is counter-productive. Pathological gambling is defined by the long-term pre-occupation with chasing losses.
I gotta get back my $1,000 losses and try to win it back. that was the thought that keeps on playing on my mind ater I stopped again for 30 days and I did go back to the action table.this time I told myself if I recover the $1,000 dollars I lost last march 3, I will stop for good.so after a month I brace myself to go back and play.april 3 I went and played another 1000 and lost again. I see a pattern here.
Man, I just can’t stop. I got to get back and recover my losses. Really thought I conquered this habit and yet I’m going to the path of self destruction again I don’t want to but I want to.
comes April 22 , we have a Reno trip and this time I will just go but I won’t gamble. I promise myself that I will never lose again. See you back after April 22 and see what happened if I gamble or not. but I already have a plan and I will stick to it. another beginning.
It all started with me inviting my friends to watch a free concert to be held of all the places.. yap in the casino. I already have had 95 days of gambling free and I really thought that I would be strong enough to resist playing blackjack again. so, off we go with a solid plan that I wouldn’t touch a single card of blackjack nor I would be roaming around to watch the action. I really had that keen resolve not to gamble.
We were in the casino and headed toward the concert venue. We can’t get a seat and my friend decided to play blackjack with me tagging along watching him win. I excuse myself telling him that I’ll just go take a leak and while I headed my way to the restroom, a single spark of thought tells me to do an ATM run. At first I really planned at that time to try a hundred buck, eventually I lost and what the heck, I want to get even and recover my hundred bucks, lost again and decided to withdraw 300 more. you see I had this 500 limit withdrawal on my ATM card. Oh boy, you guessed it , I lost again !I was telling myself that if I could only bring back the 500 that I lost I’ll stop. I waited until 12 midnight so I could withdraw another 500 and really stop for good. I end up losing the second 500 which make my losses a total of 1000 dollars.
I lied to my friends when they asked how much did I lost. Told them that I got even. I realize afterwards that if challenge ourselves to go near the fire, we’ll burn. The casino is the fire. I got burned. Now I see the pattern. I bet, I lost, I chased, I lied and I realized. But still I didn’t stop still. I challenged and I am beaten again. I got my second time of losing. Read tomorrow..
I haven’t gambled since thanksgiving day and that makes it 96 f***ng days of gambled free life (for a while).
Then suddenly.. the RELAPSE !!
I wouldn’t say suddenly but it is ( the thought of gambling ) all sitting in my addictive mind ready to be manifested and I did it. I went back to the casino and lost that freaking thousand and I’m so disappointed with myself. I realized that I couldn’t rest on my laurels and be complacent that lasting almost 3 months over, maybe I thought that I would be gambling free for the rest of my life. I thought when I declare to the whole world ( to my friends and family circle )that I finally stopped gambling is a sure thing for me.
I should have been vigilant about my action and my inaction that lead me to relapse and now the thought of getting back my losses haunts me. The big chase of getting back my thousand dollars and head back to the casino is playing on my mind, ready to unleash itself and start my gambling binge again. I’m so afraid that it will lead be back to my old ways again.
I want to stop ( again ? ) and yet the other side of my mind wants to go back and get even. You gotta get back that freaking thousand dollars you lost and then stop for sure after getting it back, my other mind ( that gambler mind )would tell me. and yet the thought of stopping for good (my logical mind ) reminds me that it’s not worth it to chase my losses.
So, how did I end up relapsing ?
If we continue gambling, we chose to die. die of financial stress, emotional fatigue, and drain our humanity.
If we stop gambling, we chose to live. to live in bliss and in peace, knowing we still have cash on hand. it brings peace.
Choose to live or die..
I’ll choose to stop and live another day. what’s your choice. You only got two choices.
In gambling if you quit, you win !! quitters are the biggest winners. Ironic ha ?
Focus on what is essential and concentrate on your goal. If your goal is to stop gambling for good, COMMIT !! Remember commitment is CHOICE that we have to keep doing again and again and again..
Make that choice to stop. COMMIT..
Hope lies eternal. As long as we hope to move forward and mend our ways, we will never get lost. Hope brings us here in this website hoping for a cure. Hope is within ourselves. let’s hope to continue healing ourselves and we’ll know after sometime we are gambling free !!
It’s been awhile since I came here. life has been tough and yet after all those years I continue to struggle. I’m struggling to be gambling free, for a start this whole month of December. I’ve been telling myself that for a change I will say NO to the very first gambling invitation. I’ll start this very first day of December and hopefully count until 365 days had passed. Everyday you will see me here so just read on..
Really thought that I beat this gambling addiction for good. but oh boy, I’m wrong. though my finances had improved and made a 360 turn around and I had paid all my credit cards and yet just one slip of the mind I went back to blackjack table and started playing again. I lose a thousand and I’m planning to get it back. I’m on the crossroad. which way I am going. the other half of my mind is pushing me to go back to the table but my right side brain is telling me to say NO. before I’m listening to my first thought but now I’m so ready make alliance to my right side brain and say NO. my alter ego is telling me ’ you can do it ! ’ and I’m sure I can and I will.
This is my first step.. my road to recovery !!!!
Really thought that I conquered the battle over gambling addiction. I can’t recall how many times I ever said to myself that ’ this will be the last time I will gamble ’, yet to no avail I always fell into a trap. I always wish that my gambler friend will relocate elsewhere to escape his constant invites to go with him to the casino and that the casino will burn so there will be no excuse for me to return to that place. my wish was granted on the first one and a sigh of relief and breathe of gratitude minus the one big influence in my life. my friend’s family moved to san Diego. but my second wish which I thought is kind of weird is so far fetched to happen , unless by stroke of luck or misfortune the casino which I go through will ever come down to ashes. they will always build another one whether it burned or not. Well, enough of this childish wimps.
No one, I say no one can ever be strong if you don’t exert all your effort in fighting this demon. You got to be focus and really determined to fight this of and stand firm on your decision to quit. you got to put all the intensity to the highest degree to win this battle. It’s a slow process, taking one day at a time. Another passed without gambling is a small step towards victory. slowly, slowly burn your candle but keep up the light. The light which is your guide to a brighter tomorrow knowing you are hanging on saying NO to every gambling invitation. standing firm with such conviction to say YES TO MOVE FORWARD TO A LIFE WITHOUT GAMBLING. Believe in yourself with the sincerest desire that you can make it.
And yet, today-again I declare that this will be the first day of the rest of my fruitful life. The past is a thing of the past. I’m not looking back and I am allowing myself to move forward, onward with keen resolve and so much faith in God and myself that I can conquer. I’m a conqueror and I am a victor !! I a taking one day at a time. I will be gentle to myself.
Healing is a process. I will allow time to heal me gradually. to ripen at my own time. So when I finally taste the fruit it will be sweet.
slow burn.
This actually works for me. I talk to myself in a Positive reinforced way and it just flows man.
Today is the first day of the rest of my fruitful life.
Finally I can say with conviction that I am finally over with gambling.
Never again will I come back to any casino nor play blackjack anymore.
I have forgiven my self and asked forgiveness to people whom I hurt most.
I will say NO to every gambling invitation no matter what.
I don’t wanna punish myself and I’m giving myself a chance to be gambling free forever.
July 29, 2005 I Quit Gambling! It was very similar to quitting smoking 10 years ago, I must have quit at least 10 times, but always went back to those damn things. I have attempted to quit going to Casino about the same amount of times. Every time I go, I feel the slight high when I fill my bucket with the dirty old tokens, anxiously waiting to find the next machine to drop them into, anticipating the Big Jackpot..and then losing the bucket. The casino won again, this time, last time, and the time before that. But..in my upcoming Journals, I want to talk about that - its therapeutic for me but today, I am angry, pissed off, feeling guilty, tired and wondering how I am ever going to get back on track financially. I am not going to let that get me down, I a moving forward, I am going to be proactive and look for a new hobby that does not effect my family or livelihood. Till next time :)
Today is day four since I have played video poker. I was in two casinos yesterday and didn’t play at all. One I work in and have to walk through each day and the other one I went to meet friends for a drink..something I haven’t done in over a year and a half, maybe 2 years. I used to meet these friends/co-workers every week but my gambling interfered with those good times. Luckily they decided to meet again and reached out to me to join them. I had a wonderful time and afterwards went straight home. I know that 4 days doesn’t seem like a long time, but I usually play every day or at least 5-6 days a week. So for me, that is quite an accomplishment. We have made plans to meet again next week. I feel good. I am happy and pleased with myself. Soon I will reward myself by spending some of that money I would have lost on something nice for myself.
I came into some quick money and the first thought in my mind was ..lets have a bet buddy..so off I went with 3k..got a 1k up then it was all down hill. I’m thinking its not so bad that I lost as its now impossible to get anything outta that god dammed place..and I still have my sanity and good bank balance left.so please .I’m not going back there big casino, and thanks for teaching me to be humble and here’s to a new casino free life enjoying my time..letting bygones and past punting mistakes rest.. onwards I walk with dignity and all gambling urges will be seen as a waste of my precious time and sanity..
Thought I’d put a few thoughts together for us all to see..to re enforce the futility of a gamblers lot in life ..I was into casinos in a big way, because I’m not used to loosing basically..who is..but to be legally robbed by government rules is a rough cookie to crumble. But hey I know they have taxes and bills to pay so ,okay casino keep my money but your not getting any more; in fact next time I visit you will be to eat your cheap food and accommodation and that’s all you’ll get from me..I lost, you won now leave me alone to pick myself up and walk tall..I see through your promises of instant riches ,through this web site I’ve read how you’ve killed and maimed so many, but like the holocaust survivors ,we will be a witness to your deeds..one day I’ll go to Vegas and laugh out at how stupid you look in your bright lights, AS I’ll be in control of my gambling impulses ,and you will say..another ex gamblers been saved..and what’s more we might even be in the majority, imagine if people sore through gambling’s promises and only bet there pocket money..casinos would go outta business...here’s hoping ********
It’s day’s like these I dread the most . The day after spending the entire cheque on gambling. I was so desperate for money to win back my losses, I stole $30 from my sisters piggy bank. Now, I feel nauseated, worried, and depressed. Why does this always happen? Its days like these I make promises to myself that ill stop gambling. And I always seem to break them. It has come to a point where most of every body knows that I gamble, and this is what I don’t like. Please tell me or guide me to a better tomorrow. I’m tired of breaking promises. I need help.
If there has ever been one aspect that I have beaten into the hearts of traders who have graced my website over the years, it is the need to use a stop loss order on every single trade that they take.How To Stop Chasing Gambling Losses
They will keep you in the trading game, keep your losing trades within reason (assuming you aren’t trading penny stocks, in which a stop loss order won’t do anything for you), and it is going to help you consistently profit at a high rate.
When it comes to trading tools, stop loss orders are probably the most important trading aspect of making sure you do not blow out your account. You are using this order type to make sure that if the market decides to sell off and take all your positions down with it, that you aren’t holding on until it feels emotionally acceptable to sell. Instead you have already drawn the line in the sand so that you know where to get out at, instead of relying on your emotions to determine that.
By using stop loss orders, you are also making a very important aspect of trading a very mechanical one and leaving your whims of emotions, that face traders daily, from getting out of hand.
So use stop loss orders, know before you even get into the trade what your stop loss will be and never lower the stop loss ever..on any trade. If you widen your stop loss once you are in the trade, you are making an emotional decision out of fearing that the market will take you out of your trade and then rally higher. That is a horrible excuse. Whens stops get hit, there are only two directions that a stock can ultimately take - either up or down. So yes, there will be a large number of stocks that will breakout higher after you get out. That is part of trading. When it comes to using stop loss orders you must apply these four important tips:
*
Use hard stop loss orders
*
Use stop loss orders work best in tight situations
*
Use stop loss orders to trail profitable trades and insure you keep the majority of your profits
*
Use stop loss orders to protect you from yourself
Let’s go over each one.Use hard stop loss orders
It is the belief of many traders that somehow they will always be in control. That they can also react fast enough or be around when necessary to take the right actions. That is simply wrong on all accounts. The first step to trading is recognizing that you are not in control. That the market does what it wants to do and that you do not have an opinion in the matter.
You can only react to what price does to the positions that you are in. Whether it is laziness, fear or overconfidence, many traders like to use mental stop-losses.
Please, PLEASE! Don’t do that!
Mental stops are bad news. They will eventually kill your portfolio and cause you to take bigger losses than what you would have ever expected to take.
They will also kill your profit/loss ratio.
Let’s say, for the sake of conversation, that you buy a stock at $100 and instead of using a hard stop loss order, you use a mental stop loss of $95. That mental stop-loss is hit. You put your order into sell, but buy the time your order to sell the stock is placed, you have seen the stock drop down to $94.80. Only twenty cents you say? Well do that consistently, and you are going to find yourself losing a lot of capital simply because you decided to use a mental stop instead of a hard stop-loss that will get you out of the position as soon as the stop-loss price level is triggered.
But even more dangerous than the scenario that I just laid out for you, is the fact that most people who use a mental stop loss order do not have the discipline to get out of the trade immediately when the stop loss is hit.
RELATED:3 Trading Strategies for Increasing your Stock Market Profits
In fact I would say the very fact that one uses a mental stop loss order is usually due to either a lack of discipline, or a lack of faith in one’s own trading methodology.
You see, when the stop-loss is hit at $95, the initial response by the trader is to see whether it just touches the stop loss and then bounces higher, because as you all know, we all hate having our stop loss be the low tick of the stock in a given trading session, only to watch the stock spend the rest of the day recovering. So as a result, we don’t take the loss, and that very approach by its own definition, means that you are willing to take a bigger loss, just to make sure your original stop loss wasn’t the low tick. Stop loss orders work best in tight situations
You don’t have to trade with stop loss orders that are ten percent away from your entry price. First, your risk/reward ratio is going to be very much skewed to the risk side. But more importantly, trading with tight stops will actually improve the risk/reward profile of your trading strategy that you employ.
When I trade in the Splash Zone, and when I am stopped out it is usually no more than about 2-3% with most of the timesit being somewhere in the 1% range. That means I can make at least a 2:1 profit on the risk when I profit between 4-6%. To duplicate that on a 10% stop loss order, means that you need to make 20% just to come away with the same profit/loss ratio.
Remember, the profits are in the risk-reward. If you aren’t profiting enough to cover the risk, then you simply are not profiting in your trading strategy. Keep risk tight and it makes profiting so much easier. But if you keep the risk large and the stop loss orders wide, then you will find profiting in the s
https://diarynote-jp.indered.space
コメント