Thursday, October 24, 2013

Thurs. 10/24

10:15am CDT - Time for a break.  Down 14% on year.
RESULTS FOR DAY
NQ Contracts:45
Net $P/L: -3038
Wins: 0
Losses: 7
Win%:0
Avg$Win: 0
Avg$Loss: -434
Posted by at

16 comments:

  1. JMF3October 24, 2013 at 10:21 AM

    I had a shit session too man...

    ReplyDelete
  2. UnknownOctober 24, 2013 at 7:07 PM

    Maybe a short break will be an opportunity to regroup? Good luck to you buddy.

    ReplyDelete
  3. coryOctober 25, 2013 at 4:10 PM

    a glance at blogs you link to, it seems like most of them are making money hand over fist. On other hand your graph continue looks like a roller coaster. Not sure what is solution at this point but what do other traders do that you didn't do, hmm...

    ReplyDelete
  4. TSTOctober 25, 2013 at 8:26 PM

    trying to locate your article on entry /exit.within a year ago that describe your RR ratio. But didnt find it so I just highlight it to u. In my understanding the style is looking for 1 scale reward but it use wide stop at 2 scale risk - If this is true, probably this one you need to think through.
    In MY case, an ideal condition to trade is 1risk: 2.5reward - og course it hard to find it ranging mkt.
    Copying Livermore..sumthing like " It's not my intelligence (of right/wrong entry) thats make it, its my position" ................ Just a 1c opinion....Have a nice break

    ReplyDelete
  5. TSTOctober 25, 2013 at 8:35 PM

    i used keyword rr - 1 article but there was another one , not this ...
    ++++++++++++++
    Thurs. 11/04
    2:15pm CDT - Higher Reward:Risk (RR) ratio is all the buzz these days in trading blogs and forums. But I'm convinced that it's all BS really. Let's assume a 1-lot entry and a fixed target and stop with no scale in/out, no trailing stops, no slippage, no commissions, etc. The higher your RR, the lower your win% will be, and they will be inversely proportional. If your RR is 1:1, your win% might be 55%, 2:1 might be 45%, 3:1 might be 35%, 1:2 might be 70%, etc. This week has reminded me of this basic fact more so than most. Today was another day I used tighter stops for ZS and got stopped out and lost. Had I been using the same stop levels (lower R:R) Tues, Wed., and today that I had used on Monday, I would have recovered much of what was lost Monday because many of my stops wouldn't not have been hit. But you never know what kind of day it's going to be (choppy or trending) until it has happened. I need to get back to a single system that works. Not messing with the criteria and changing the variables day by day. I know better.

    ReplyDelete
  6. Kevin DaveyOctober 26, 2013 at 11:15 AM

    @Cory - realize that most of the trading blogs showing people making money hand over fist are mostly BS. The "winning" blog owner might be selling something, and has to look profitable to his marks. Other allegedly winning traders are not really trading at all - they are sim millionaires. If they do trade with real money, their blog likely doesn't reflect their account reality. So, while some of the info you get from these blogs might be useful for your trading, I certainly would not believe that they are so profitable. 90% or more of people lose trading, and I doubt the blogger world does any better than that.

    ReplyDelete
  7. AnonymousOctober 28, 2013 at 1:50 PM

    All I want to say is that making money from the stock market is a very tough job.
    --Judy

    ReplyDelete
  8. MBAGearheadOctober 28, 2013 at 2:52 PM

    Thanks for comments.

    ReplyDelete
  9. UnknownOctober 28, 2013 at 6:32 PM

    @Kevin, do you know of some "winning" blog owners who are not selling anything? I have come across a few websites that claim to raking it in, but they are clearly selling a e-book or some type of coaching subscription service. It would be nice to read a blog of a trader who is trading well for a living.

    ReplyDelete
  10. AnonymousOctober 29, 2013 at 7:14 AM

    Price is very nearly random so with retail costs I can practically guarantee that nobody is "raking it in". How many people are consistently profitable (and by profitable I mean what people claim and then divide by pi and possibly pi^2)? Very few is my guess, certainly fewer than those who are SO successful they have to sell courses and even AdSense on their blogs!

    So in reality, it is about being in the top few percent in terms of ability and having lots of capital if you want to be better off then doing the 9-5.

    I am told that this is being negative so feel free to ignore :)

    ReplyDelete
  11. Kevin DaveyOctober 29, 2013 at 8:05 AM

    @Trin - no blogs that I know of, but I don't follow many to know for sure. Most traders making a living probably don;t have time to blog.

    @long - you have pretty much nailed it.

    Nothing wrong though with a profitable trader selling whatever he wants. Pretty much a risk free sideline gig for that person. But for many, I suspect the selling brings in more money than the trading.

    ReplyDelete
  12. AnonymousOctober 29, 2013 at 2:10 PM

    @trin. I think Carl Futia looks like a genuine trader who is making money. He started out free but even now he sells a service. But you can still access most of his stuff slightly delay.

    ReplyDelete
  13. UnknownOctober 30, 2013 at 6:38 AM

    @L&W, your comment is welcomed and appreciated.
    @Kevin, so what your saying is that you will stop blogging when your making a living trading jk/lol?
    @Anon, thanks for the recommendation.
    Sorry MBA for the hijacking lol.

    ReplyDelete
    Replies
    1. MBAGearheadOctober 30, 2013 at 3:48 PM

      No worries - good stuff. And I agree 100% with Kevin and L&W!

      Delete
  14. AnonymousOctober 30, 2013 at 7:22 PM

    I make money and I blog from time to time.

    ReplyDelete
    Replies
    1. JMF3October 30, 2013 at 7:37 PM

      I blog and I make money from time to time.

      Delete

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