I thought you went in with a solid trading plan. What exactly happened??
6 months TopStep 50K Net Profits
- Thread starter Sekiyo
- Start date
Had to reset several times.
Mainly because I wasn’t taking my losses.
April 9th I was short around 2740 for AS
Went asleep, missed my TP by 1Pt @ 2700,
Woke up on a margin call again (3K daily loss).
This kind of recklessness...
Again ... Again ...
Got to take it more seriously.
Disciplined, Athletic and professional.
My trading plan isn’t systematic neither.
Lots of gray areas but I am working on it.
No offense ...
Had a laugh when you liked my post about over trading.
I mainly know you for flipping sides as fast as Lucky luck.
Great trades nonetheless.
Well, I ain't gonna give you any BS condescension. You are going get your ass up and keep fighting. And that's what we do, we fight in the trenches every day.
As for your trading style, keep in mind you're a daytrader, not a swing or position trader. It's okay to swing for the fence once in a while but keep the trade separated from your day trades.
Lastly, I should add that the market does trend only 20% of the time (Pareto's law, unfortunately). But did you know the other 80% isn't exactly just a bunch of meaningless noise? If you look hard enough, there's a rhythm to them as well. I suggest you go over the charts and do a bar-by-bar analysis. Good luck!
Sure.
Came back and forth since 2012 ...
Guess I am never going to give up speculating.
Agree.
It’s not just noise.
I can trade a 100 ticks chart.
But I believe the big money is in the big move.
When I see (lately) :
2400,00
2640,00; 240
2460,00; 180
2740,00; 280
2620,00; 120
2800,00; 180
I am tempted to cut through the “noise”.
Even if you get only half of it,
It’s 125 points per week.
The risk : reward is just over my head.
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Overtrading is not a cause, but a consequence. When our psyche is in equilibrium and adequately evaluates the market, we trade what we see, we are synchronous with the market. When our psyche wants action, we stick our hands wherever it seems to us. We begin to trade not reality, but our illusions about the future. Overtrading is the result of overexcitation of our limbic system.
The limbic system pushes us to action when three basic instincts are not satisfied:
- the instinct of personal survival (food, heat, housing, security);
- hierarchical instinct (social status, status items emphasizing our hierarchical superiority - hours, cars, medals, positions. "Differentiation of society by the color of pants");
- instinct of reproduction (if you were scalping, then you know the "erection")))
Overtrading, for example, may be triggered by an external daily rate of return requirement. By loading ourselves with external requirements, we are loading the psyche. As a result, we trade not from the “I want” state, but from the “I must” principle. Our view of risk is changing. We have an excessive risk appetite. There is a dangerous concept of "I must - I can do it." This works in everyday life, where we can push the counterparty. But we cannot push the market. The market knows nothing about our intentions. And here aikido arises - the more we push excessively into the market, the more we fall on the tatami. In the market, the owner is the market itself. We must not apply excessive pressure. Any rigid trading system or an absurd demand (such as the "rate of return per day") is "excessive pressure." The pure criterion for the correct trade is "I want or do not want to make this trade." This “want” is focused on your market knowledge, assessment of the current market behavior, and your forecast for future price movements. This is the ultimate binary trigger - to do a trade or not. Better when this is an unconscious decision, it is more harmonious with the market. But if your psyche is not in balance, if your psyche is not a calm surface of the lake reflecting the market, then this “I want” will take all your excess energy and wrap it against you. From here arises overtrading.
What is the capital reserve for one contract and what is the estimated risk drawdown in this series of transactions?
bingo. 100% on point.
Although, you don’t have to get up at the table, just keep folding until the hand is good enough to play. You can bet small until you figure out your most successful particular set of hands that you like to play. I love triangles for instance. And good pullbacks onto trends.
Thanks buddy.
I have more to earn by being honest.
With myself, to begin with, and with others.
It’s all about exposing weak spots,
Discovering and solving fruitful problems.
If I ain’t real I can’t progress.
So being real is the first step to growth.
Agree.
One can seat and just fold.
But you still gotta choose the best table.
The one with the highest “hourly expectancy”.
Go where the “easy money” is.
Where the trend is clearly bullish or bearish.
The greater the bias, the greater the profitability.
You want to win with suboptimal hands.
It can’t be achieved without huge advantages.