| RESULTS FOR DAY | |
|---|---|
| YM Contracts: | 5 |
| Net $P/L: | -526 |
| Wins: | 3 |
| Losses: | 2 |
| Win%: | 60 |
| Avg$Win: | 163 |
| Avg$Loss: | -508 |
9 hours ago
Tuesday, February 6, 2018
Tues. 2/06 -3.2%
11:50am CST - Live by the sword, die by the sword. As I said yesterday, I should have sat on my hands. I was up $490 early today and didn't have the balls to hold the long that worked so well (had another $3000+ potential). Then mid-morning, I traded the chop thinking I knew something. I know nothing. Perhaps I needed this day to get me back on course to mechanically trading systems instead of gun slinging.
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look man, i know it's arguing relativity and such but a -526 PnL on a day like this is conscientious risk management. this is the type of day that ruins accounts and turns optimistic trading bloggers into tinfoil hat conspiracists.
ReplyDeletegood navigating, MBA. as you know, there'll be more market days to trade.
I guess that you need to stick to one method only (and 1 or 2 types contract only) If you ask me I will say use your discretionary trading but it will test your emotion. Emotion is good sensor as you will feel the pain earlier. If you switch on back that ^mechanical engineering^ trading engine, you will feel no pain even though more ulcers in the account. When you use discretionary trading, early birds (time controls) are better than latecomers & 1 or 2x time sniper rifle shorts with bigger bullet calibres are better than machineguns (lot controls). You will neeed to improve your win/loss ratio. For you I suggest 3 lots ala America Got Talents 3 judges. When you got 2 of 3 consistently.. then only increase land lots. You will have a living money tree, not bitecoin machines. Sorry for the rambles. We start together comrade since 2009 and like other normal people, I hv the ability to see other's fault better than mine :>
ReplyDeleteDo you have a set of Criteria to get out of a trade? To me, being a discretionary trader doesn't mean you are gun slinging it, it means you have to sit in front of the monitors and wait for the presence of your set criteria in order to execute. If your criteria told you to get out, the hell with the $3K move!
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