Friday, April 7, 2017

Fri. 4/07 -4.1%

10:55am CDT - Beyond pissed today. At me, at the market, take your pick!  Changes are a coming...
Net breakdown (contracts traded):
CL +$106(1), NQ -$858(7)
RESULTS FOR DAY
Contracts:8
Net $P/L: -752
Wins: 2
Losses: 3
Win%:40
Avg$Win: 59
Avg$Loss: -290
Posted by at

26 comments:

  1. JumboBOBOApril 7, 2017 at 5:14 PM

    It's impossible to succeed when you are still trying to find "an edge" after 7 years. It's like asking a basketball player to constantly change the way he shoots, or asking a quarterback to constantly change his footwork. Success is just not possible. It's also not possible when you do not trade with a "daily stop". Any good day trader has a SET per trade stop and a SET per day stop when he stops trading.

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  2. AnonymousApril 9, 2017 at 7:50 AM

    More important trading from home there is no edge no matter how hard you try..big institutions took care of that!

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    1. MichaelApril 10, 2017 at 10:13 AM

      This comment has been removed by the author.

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    2. MichaelApril 10, 2017 at 10:16 AM

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    3. MichaelApril 10, 2017 at 10:28 AM

      This comment has been removed by the author.

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    4. MichaelApril 10, 2017 at 10:28 AM

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  3. F-BombApril 9, 2017 at 9:23 PM

    you'll straighten things out. see u at the open.

    rhiese
    tradingandstuff.wordpress.com

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  4. AnonymousApril 10, 2017 at 1:11 PM

    If I may add a suggestion here to your methods try this and see if it helps. Add a 34 ema and 13 ema to your charts. Then look at every time time the 13 crosses the 34 ema. Then look for the first pull back to the 13 or 34 ema for a reversal. I use this with 5 range bars on the NQ and it works very well. The trick is to recognize chop and not trade under those conditions as this is a trending type setup.

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    Replies
    1. MBAGearheadApril 12, 2017 at 1:09 PM

      Never had much luck backtesting MA crossover systems but thanks for idea.

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  5. coryApril 10, 2017 at 2:02 PM

    MB, maybe we should join forces studying with Ace.

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  6. JonApril 10, 2017 at 3:27 PM

    MBA, if I may chime in...
    I observed that on most of your big down days you tend to average down. If you traded with constant size at all times, big down days would become small down days. Psychologically, it's a lot easier to recover from a small loss than a big one.

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  7. technicalsuccessApril 10, 2017 at 5:12 PM

    I agree that stops are critical but we've all been in situations where we throw that out the window for a day or so, one bad day doesn't mean anything. MBA, to the extent you still have ideas (and obviously capital to support it), I encourage you to carry on - remember this is still supposed to be our breakout year!

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  8. UnknownApril 11, 2017 at 3:28 PM

    MBA,I see that you change strategies after a drawdown. Drawdowns are inevitable even in a good system. You should probably stick to the system for a longer time. This is one of the biggest challenges in trading, determining whether it is a normal drawdown or system has stopped working.

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  9. JumboBOBOApril 11, 2017 at 10:29 PM

    I just looked at your trading chart now. For your NQ trades, I don't see any "system" there. There was no system. It was PURE discretionary. You added to a losing trade, which is a big no no in trading. Also there seems to be no set limit to your leverage. You ended up adding to 3 cars to a losing trade after you just got stopped out in your prior trade in long. In this 3-car trade, you didn't seem to have a set stop either. You said you got so pissed and hit exit at the market. If you read your comments again, you can see there are TONS of emotion there. There is no way to succeed when trading with this amount of emotion. A trader should never blame the market. The market is going to go where it wants to go. No one is out there to "screw" you. In my eyes, after 7 years, I don't see any strategies or discipline in your trading. Even if you did have a strategy, as soon as your emotion got in the way, it became PURE discretionary, not system assisted discretionary.

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  10. MBAGearheadApril 12, 2017 at 1:09 PM

    Wow, my readers have some opinions! LOL
    Thanks to many of you for your feedback.

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  11. coryApril 12, 2017 at 6:55 PM

    Ace channel https://www.youtube.com/channel/UCQOr9vU9zev2FgqTjLYJ7tQ

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  12. AnonymousApril 12, 2017 at 7:01 PM

    Its a game of problability. You need to be the casino and not the retail customer. Be 50, 60, 70 percent right and prove that your losers stay smaller than yout wins on average... these are the stats your need to prove to youtself. Otherwise you will remain with the 90 percent who loose to the 10 percent pros.

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  13. austinpApril 13, 2017 at 4:27 AM

    A decade or so ago, you traded your way to six-figure gains averaging down/against in the S&P. As chronicled in ET P&L thread. Then one day came along like that one day always does when averaging down, and you blew out the entire account in a single session.

    But the memory of all those individual daily "successes" became deeply ingrained in your mind. How many times did you step into a drawdown, and average your way out eventually? Nevermind how many of those were nail-biting, harrowing and gut-wrenching, eventually the market rewarded your pyramiding against the trend. Until that one final day but forget that.

    Now all these years later you remain mentally plagued by doing the wrong things and being positively rewarded for such. How many times have you actually verbalized that with your own words right in here? Many, many times you've acknowledged your own core mental problem.

    Financial markets today aren't even recognizable from those times past. Today's illiquid, HFT chopped tapes are extremely unforgiving. CL and other formerly hi-beta symbols are comatose flat and dead. Completely different world. The ONLY thing I've found that works today is surgical scalping for small but consistent gains: https://www.youtube.com/channel/UCblFKlkWF_-4-4lzgNlh0dA

    But that works in all market conditions with whatever liquid symbols offer enough movement. If you can banish the urge to average-against forever, and never again, you can and will prevail. And as always, I wish you well :)

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  14. AnonymousApril 13, 2017 at 12:15 PM

    Looks whos talking AustinP who doesnt even trade and sells books and courses to make money

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  15. F-BombApril 13, 2017 at 12:46 PM

    hey mba, just noticed you put me on your blogroll - very honored! thx! btw, this comment section is where the party's at hehe!

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  16. SoullfireApril 13, 2017 at 1:56 PM

    Feedback here is good, with the exception from the negative "Anonymous poster(s)". One of the big problems with anonymous posting is that you can have multiple posters with the same title.

    To the negative one who's claiming retail has no chance in trading, it's clear you just haven't looked hard- there are successful retail traders that post their updates.

    If you believe retail trading is no longer possible, why do you continue to take the time to read/comment on a retail trading blog? Do you not have anything else better to do? Do you derive enjoyment from kicking someone on bad days? That says more about you than MBA.

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  17. AnonymousApril 13, 2017 at 3:15 PM

    Wow, I am late to the comment fest. It's clear that many of the commentators all read the same retail trading fodder and are able to articulate their trading ideas here on MBA's blog. Very few have the _____ to post their trades consistently for years win or lose, myself included.

    MBA, in a show of solidarity against the naysayers, I'm posting my trades, winners and losers. I appreciate and respect opinions, even the anonymous... however, showing your trading logic via trades consistently says more than words.

    As active retail traders know, having your mind and emotions in check is no easy task 100% of the time. To say where stops should be placed at, or what kind of strategy should be used will always be personal in nature.

    If you have a strategy/edge that is working, that you share as openly as MBA does for years, great on you! I will be sure to add you to my blog role and pay you respect.

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  18. Sith-TraderApril 14, 2017 at 4:54 AM

    MBA, trading is never easy. Like austin said we retails now fighting HFT. It's like playing chess against super computer. I know you build your own trading system and shockingly you still trade the system manually. Automate your trade probably the solution for your trading journey.

    Even best traders in the world have drawdown. Trading is like farming. Good yield we kept the profit. Bad yield we survived from the saving. But never sacrificed the good times more than bad times. That's what I do and I planned if I reach my goal from trading I will stop trading as for now and move to the next level.

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  19. austinpApril 22, 2017 at 5:51 AM

    Contrary to misconception, my comments last week weren't meant to be negative in the least. Simply eye-opening with shock value added for effect. MBA has virtually beaten his brains (and account) in for the past several years from one core, repeated mistake: averaging down = against when frustrated. That is a simple, absolute fact.

    Cure that mental mistake forever and success is not only possible, it is highly probable :)

    ALL financial markets have changed drastically thru the past several years. Look at Russell 2000, look at Crude Oil for examples. What used to be liquid, dynamic markets are now skeletal and endlessly chopped to living shit day after day. What I did with which symbols years ago is totally different than what I do now with ES. Because change forces change. But some things never change, they are constant. Larger stops than profit targets never works long-term. Averaging against never works long-term. Whether any of us here like it or not, Those too are facts.

    So do with my input what anyone may. I don't care. Nobody here means anything to me when it comes to trading. My past week's results in today's modern markets are online and visible to see. Nobody here and quite frankly nobody anywhere changes my results for better or worse. It is me against my inner self and the algos every single day. Same for each of you. Good luck next week and every week to follow for the rest of your careers :)

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