Thursday, June 9, 2016

Thurs. 6/09

2:15pm CDT - Frustrating day again. Need to sit on my hands better when the market's dead with no range.  Trading reversion to mean isn't a bad idea either.  May head back to the drawing board.  In case I end week here, for the week net -$821.
ES Contracts:8
Net $P/L: -574
Wins: 0
Losses: 2
Avg$Win: 0
Avg$Loss: -287


  1. Rough day. Ended it with 2 straight losers. One got stopped to the tick before it went to my intended target. The other a pure revenge/emotion-driven entry. Just flat-out chased it.

  2. MBA, I've followed your trading for a while now and I wonder why you keep saying that you need to tweak your edge. Do you think that methodology is something you change when things go wrong? From my narrow perspective, it seems that way. But I also believe that the main issue you have is risk and money management. I think you should stay small, until you prove to yourself that you can make money month after month conssitently. Otherwise these blowup are going to catch up with you... just my 2 cents, and I truly wish you the best!

  3. Hi Anon#2, thanks for following along. Please tell me where I've said I "need to tweak my edge." If you read between the lines, you would correctly conclude that I have not found any sustainable, consistent edge and that's what causes me to go back to drawing board. But I'm stubborn enough to eventually get there! That's been the plan at least for many years running now...

  4. Hi MBA,

    I didnt mean to discouraged you but day trading is very hard. You have tons of experience in market hence you must realized market has changed. At times you find new methods market change again. Plus you trade manually which added psychology problems at your trading.

    As fellow trader,my advice is you should focus on market volatility. Choppy market is an ugly enemy for day trader. No need to trade every day if market is not in good condition. Just like people dont sail when bad weather coming. But when volatility is good, take more risk to gain more.

    Simple advice but difficult to apply. Wish you the best in your trading journey.

  5. Hi MBA, Anon#2 here again lol. I may have misunderstood your edge situation but that does not negate that your size is putting you at risk. Why use size if your not confident in your current developing edge? Edge/methodology is a very subjective concept and I would say generally speaking, that if you have an edge that produces 50% of the time, you can be consistently profitable but only if (BIG IF) you have a solid risk management plan and if you can consistently perform that risk plan. I too along with every trader struggle with risk but a solid risk plan that you can PERFORM will keep you in the game a lot longer. The making money/finding opportunities part is somewhat easy, it's getting out when your wrong that's extremely difficult. Again MBA I don't know your situation in detail, but I just thought I would share my experiences that have helped me to you. Never give up man!