new trader--would like to hear ideas


I'm a new trader and have had some success in the last six months working mainly with basic technical indicators. My risk tolerance is fairly high and I would like to hear some first hand information from someone whose had continued success in the market. Thanks.
I don't understand why risk of ruin is a concept that is hard to grasp by so many. Maybe we need to equate it Russian roulette more lol.
Originally posted by cashisking86

I don't understand why risk of ruin is a concept that is hard to grasp by so many. Maybe we need to equate it Russian roulette more lol.


By "risk of ruin" do you mean the risk of losing your capital? I don't see any indication that the OP doesn't understand it is a risk.
Originally posted by cashisking86

I don't understand why risk of ruin is a concept that is hard to grasp by so many. Maybe we need to equate it Russian roulette more lol.


haha yeah i think its the fact people dont want to think of the worst possible outcome too and that is actually so key to being successful. I use risk of ruin as a tool rather than something be afraid of lol
Originally posted by cashisking86

I don't understand why risk of ruin is a concept that is hard to grasp by so many. Maybe we need to equate it Russian roulette more lol.


I don't see any reason why we could assume the original poster doesn't understand the concept of risk, either. Trading is only russian roulette if you go into it unprepared and treat it like gambling. Otherwise, different people have different risk tolerances and it's good to be aware of that.
What does a high or low risk tolerance have to do with anything in forex though? Statistically you're not going to be profitable long term by taking higher risks. Keep your risk low, regardless of your tolerance and you stand a chance of being profitable long term.
Regarding your high risk tolerance that's a fast way track to a blown account unless you have a serious edge with your strategy even then I'd advise proper risk management
Originally posted by SupplyZT

Regarding your high risk tolerance that's a fast way track to a blown account unless you have a serious edge with your strategy even then I'd advise proper risk management


I agree. I mean, if high risk tolerance means one is willing to prioritize high-risk assets, that is fine, but taking too much risk overall when it comes to trading, that's indeed a slippery slope. Risk management is a key part of a good trading strategy.
My point is it isn't anything to do with risk tolerance is high. The market doesn't care what your risk tolerance is and neither does variance. Risk of ruin allows you to see how many consecutive losers you can incur and not blow an account. As we are dealing with probabilities and variance this is something that will ruin traders with a "high risk tolerance". In my opinion it has nothing to do with risk tolerance and everything to do with maths.