Yes, the trading knife cuts on both sides.
2011: Rebuilding My Battered Account
- Thread starter neke
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Yes, the trading knife cuts on both sides.
Weekly Update for week 40/50 ended 10/14/2011
Good week, up 6K (3.6%). Some good run of trades (60% profitable) added up to a good week. Made the decision to limit my discretionary trades during market hours to just one per day. This is going to make me think better about the trade of the day. My research shows a lot of the woeful losers have been the additional trades for the day when I could not think properly after an earlier losing trade. Will work up size as account stabilizes. Automated trades will continue as they are: For the year my automated trades are a tad above break-even. All the losses have stemmed from discretionary trades.
Good week, up 6K (3.6%). Some good run of trades (60% profitable) added up to a good week. Made the decision to limit my discretionary trades during market hours to just one per day. This is going to make me think better about the trade of the day. My research shows a lot of the woeful losers have been the additional trades for the day when I could not think properly after an earlier losing trade. Will work up size as account stabilizes. Automated trades will continue as they are: For the year my automated trades are a tad above break-even. All the losses have stemmed from discretionary trades.
Code:
Opening Balance: 169,360
Net gain for the week 6,105
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Net Balance: 175,465
Since Inception of Thread 01/8/2011 - 10/14/2011
Opening Balance: 335,899
Net loss (Less Margin Interest) 160,434 (Down 47.8%)
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Net Balance 175,465GordonTheGekko
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Why don't you take some kind suggestions instead of snub my response, with all due respect. And plenty of guys with larger accounts drove themselves to 99% losses, which would be $3k in your case. They were all where you are now...
Good luck
With 10 weeks left in the year 50% isn't set in stone yet. The opportunity still exists to minimize your loss, or increase it. The trend is down and I believe it remains so. The saving grace could be a potential rally in the 4th qtr., could be helpful if managed correctly.
I believe past behavior is the best predictor of future results. I remain confident that the problem isn't the system, it's a symptom of the system or systems originator. While I'm a positive person and would like to see a fellow trader flourish. I'm also a realist and until such time as the underlying issues are resolved, the results will continue to be the same. Just like the rallies in this secular bear market.
Yeah! Awesome!
So where are all those nay-sayers now ?
So where are all those nay-sayers now ?
Quote from neke:
Weekly Update for week 40/50 ended 10/14/2011
Made the decision to limit my discretionary trades during market hours to just one per day. This is going to make me think better about the trade of the day.
Neke, this is a great idea. A few years back I got into a horrible habit of over trading and was dying the death of a thousands cuts. I limited myself to one trade per day and waited for the best set ups. It worked and was able to right the ship fairly quickly.
@traderslair
i am one of those who are worrisome and critical from way back when....!
also i am also one of those who wishes neke profitable in his trade....
however whatever he is currently carrying on and on, will more likely than not, be carrying him at most, toward side way survival....
not unless nor until, there is a change in his personal trading and/or particular trading behaviors in general, particularly whatever trading setups or modules used in his trading repertoires.... are drastically altered, retooled and improved....;
TO ACCOMMODATE THE CURRENT FLOWS OF THE MARKET CONDITIONS AND THE PECULIAR PRICE ACTIONS OF THE COMMODITIES HE TRADE IN....
or the markets oblige reversing itself to the moment and time whence neke was profitable....:
the prognoses are not very encouraging at best....
HOWEVER, I DO HOPE that i am totally wrong and that you are completely and absolutely astounding to have achieved the almost humanly and virtually impossible tasks by continuously insisting on traveling to vegas, whence your ultimate destination is.... fort knox.... LOL
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