Another Example of How Not to Trade

F

Flashboy

Just want to show another example of how emotions can get in the way.

See the attached chart.. I got short the ES @ 1124.50..

Got nervous and exited the trade while watching every tick of the screen.. as you can see the trade only went 1 tick against my entry within the 1st 2 minutes and never put me in the negative after that..

And this type of trade I know from my testing and my rules will usually have a big move down.. as it did..

The reason for the extreme emotions is due to a very low account balance..

I will get this before its over with.. Just hope I'm still young enough to enjoy it..
 

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As long as you don't lose while you're learning your lessons I don't think you're doing anything wrong !!!
 
Imo, you've got what it takes to be succesful at trading. Is there no way you can improve your funding?
 
Quote from Flashboy:

Just want to show another example of how emotions can get in the way.

See the attached chart.. I got short the ES @ 1124.50..

Got nervous and exited the trade while watching every tick of the screen.. as you can see the trade only went 1 tick against my entry within the 1st 2 minutes and never put me in the negative after that..

And this type of trade I know from my testing and my rules will usually have a big move down.. as it did..

The reason for the extreme emotions is due to a very low account balance..

I will get this before its over with.. Just hope I'm still young enough to enjoy it..
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Flashboy: Knowing your trading schematics/structure were right should encourage you! Most guys don't get even that close to trading well.

I am just now learning candlesticks, but it seems like you got that type of trade down pat. Any way you could teach me it?

Example of bad trade: I shorted a .com in '99 at 13, watched it climb to over 28 (on its way to 100??!!), covered at 28-3/8, just to watch it move up 1/8 point more (after I covered, of course) then tank to around 6. It later got delisted.

Total loss: roughly 75% of my principle (Elder wasn't around then).

Regards,
 
Quote from Ditch:

Imo, you've got what it takes to be succesful at trading. Is there no way you can improve your funding?
More...

Thanks Ditch,

I know what to do to be profitable.. I am just having trouble executing properly..

I haven't decided yet about refunding.. I have some expenses coming up I need to cover first.. then maybe..
 
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