$2,000 to $200,000 in 2020 at 2.00% per day.

[traider]

How do you even tell if its range or trend. It's the holy grail. An algo will make money most of the time if you could tell it trend or range.

 

[deltaf0rce]

About -$180 today.

The oil deal announcement did me in. I was on the wrong side on the way up, and then finally I got long only to be told, "Sorry Bud, you missed out. Tell you what I am going to do--I am going to graciously allow you to contribute to my retirement account. Thanks. You are so generous!"

Well, we were all over the place today! After the first run up, the speed was a bit better than most recent days, but I just couldn't make things work.

If I had to sum of trading it would be "1. Decide if there is a trend or a range. 2. Go with the trend or fade the edges in a range." I did neither well today.

So much red today!! So many times I was long when I should have been short, and short when I should have been long.

But tomorrow is another day.

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Going for a jog/take a day off/smoke some pot helps if the jaw is clenching and the head is tight

 

[sstheo]

How do you even tell if its range or trend. It's the holy grail. An algo will make money most of the time if you could tell it trend or range.

The 50 sma is my favorite indicator. If "flat" then ranging. ADX is awesome too for range detection, but I don't use it.

 

[Laissez Faire]

But tomorrow is another day.

How do you (historically) deal with losing days?

Do you size down? Are you able to 'archive' them quickly and trade with a blank slate the next day?

You're still fat on profits, so hopefully, it shouldn't affect you poorly. But I know from my own trading that learning how to deal with those days is very important as I can get into a 'make it back' mindset that only makes things worse the next day.

 

[traider]

The 50 sma is my favorite indicator. If "flat" then ranging. ADX is awesome too for range detection, but I don't use it.

those tools lag a lot by the time you have a signal trend might be changing. But it could work for the current regime which has huge long trends

 

[sstheo]

I don't feel quite like this, but today was a wake-up call. LOL.

 

[sstheo]

those tools lag a lot by the time you have a signal trend might be changing. But it could work for the current regime which has huge long trends

Speaking of the 50 sma, I use it on my fast entry chart, and my larger too. With time, I have been able to see the consolidations.

 

[sstheo]

How do you (historically) deal with losing days?

Do you size down? Are you able to 'archive' them quickly and trade with a blank slate the next day?

You're still fat on profits, so hopefully, it shouldn't affect you poorly. But I know from my own trading that learning how to deal with those days is very important as I can get into a 'make it back' mindset that only makes things worse the next day.

Great question. Because I don't have them often (recently) you've got me thinking. When I said "Tomorrow is a new day" I meant it on many levels. I guess I have been gifted with a great ability to "reset" overnight. But I know the reset is not 100%. But I would say I am at 90%... The next day I do scale down, I do a little more pre-market prep, and I am a bit more conservative on the frequency and the stops and targets.

I think the bigger question needs to be "How do you handle large intraday drawdowns?"

(1) I keep breathing.
(2) I eliminate all distractions.
(3) I tell myself that no matter what that the "daily max loss" is my friend and it will allow me to come back the next day.
(4) I don't scale way up trying to compensate. That is so dangerous!
(5) I may keep going all the way to the close, believing I will catch a break.
(6) BUT IF NOT, I remind myself that losses are part of the game, and that I will do better tomorrow.
(7) I post my losses here in my journal so I can debrief and get support from friends.

 

[sstheo]

Going for a jog/take a day off/smoke some pot helps if the jaw is clenching and the head is tight

Thanks. I was just thinking that it was time for a bike ride! LOL, I haven't tried the pot. I am guessing CBD oil just doesn't do the trick....

 

[Laissez Faire]

Great question. Because I don't have them often (recently) you've got me thinking. When I said "Tomorrow is a new day" I meant it on many levels. I guess I have been gifted with a great ability to "reset" overnight. But I know the reset is not 100%. But I would say I am at 90%... The next day I do scale down, I do a little more pre-market prep, and I am a bit more conservative on the frequency and the stops and targets.

Sounds good.

I think the bigger question needs to be "How do you handle large intraday drawdowns?"

I hate those. Dug myself out of a hole today and ended the day in green. Barely.

Seems like you have your game plan down pat. Way to go!