Friday, November 9, 2018

Demo Results

1:00pm CST - Traded demo account this week.  It's so easy a monkey do it!  Seriously though, my approach averaged into positions (5-lot NQ max) and scaled out too.  Lots of discretion and a bit reminiscent of my trading in 2007 when I was wildly successful until doubling down endlessly nearly killed me.  I may attempt to recreate some portion of this week's Sim success in live account soon. The key will be to be unbiased, quick, nimble, and rarely blow out of a 5-lot max position and when I do, limit loss to around a typical day's profit.

7 comments:

  1. Good luck, the martingale is high risk approach both money wise and psychology wise.....probably the single most damaging habit I had to overcome......

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    1. Thanks and agree, that's why I'm not martingaling. Scaling in (not doubling down) is less risk. Perhaps just semantics...

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    2. Interesting, prepare for that inevitable knockout day, subtle difference, but certainly see that it CAN work with correct application.....best of luck...

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  2. I love average in. It helps to lower my entry price, in turn I can lower my exit price and stay in green column. It also proves I am right in my decision. One in a while market goes straight in one direction and my average in is in the opposite direction. In that situation the loss amount increases so quickly and so large that I do not want to get out. My solution so far is either staying with 1 contract so the loss doesn't freeze me or average in but get out at a fix amount. You can see what I mean in year 2017 performance on my blog. I try to stay with 1 contract so far.

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    1. Didn't know you blogged. Will have to add it to my roll.

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  3. Whether you average down or up, if it increases your R-risk over a large sample size, it’s a cretinous idea that sounds good but dangerous as feck......

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