Complacency in trading.

SimpleMeLike said:
Hello vincentnyc,

I posted my disclaimer here.

I am down about -$4000 on the year so far.

I need to make about $125K a month to reach my target. The month of May, I will make $125K.

For some reason, some traders on ET think making $1million on the ES is far fetch. In all honesty, my goal should be $2 million in a year. I will make that the goal for December 2024.

https://www.elitetrader.com/et/threads/complacency-in-trading.372858/page-10#post-5800076
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making a million is not far fetch for some traders. but lets be realistic here. if ur goal is to make $125k/month and it is already been 4 months into the year and you are already down -4000$ ytd...there is a high probability you won't make million by end of this year 2023. we are all traders here and we go by probability.

i read it somewhere that trading is not a get rich type of scheme. it is slow boring grinding gains u do day after day. and i found this to be true for me anyway based on my trading journal stats.

for me...i know if i do make a million by end of this year in trading...i will take that money and run.
 
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Overnight said:
Why don't YOU trade and find out how it is possible. Yes? He gave you his reasons this morning at 6:30 AM post. READ it, man.
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Of course it is possible, if you have no tested strategy and no rules for executing this strategy.

Clearly you need that before you open a live trade.
 
Laissez Faire said:
I posted more detailed data on page 5 or 6. Up until yesterday my largest winning day far exceeded my largest losing day and I had 81 % winning days.

I agree that I need to watch the downside more carefully, but it’s not as simple as just using small stops as those will typically have a high chance of stopping out and they quickly add up. Yesterday, my win % was simply low. No huge single losses.
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How about decreasing lot size then? Is that something that could work with your strategy?
 
Tradess0610 said:
Of course it is possible, if you have no tested strategy and no rules for executing this strategy.

Clearly you need that before you open a live trade.
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Tradess0610 said:
How about decreasing lot size then? Is that something that could work with your strategy?
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Sure. But that would also limit the upside.

I’m not interested in making pocket change. However, I’m not in a hurry to scale my account either, so as my account grows I expect risk per trade to decrease.
 
vincentnyc said:
i read it somewhere that trading is not a get rich type of scheme.
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Good Morning vincentnyc,

How do you know the person who wrote the article where you read "trading is not a get rich type of scheme" is an unprofitable trader who is simply trying to scam you and manipulate your thinking to sell you something to "improve your trading".

The ES market is open 23 hours a day, we can take from it how every much money we choose and make it boring or fun. I choose to make it fun and very rewarding.
 
SimpleMeLike said:
Good Morning vincentnyc,

How do you know the person who wrote the article where you read "trading is not a get rich type of scheme" is an unprofitable trader who is simply trying to scam you and manipulate your thinking to sell you something to "improve your trading".

The ES market is open 23 hours a day, we can take from it how every much money we choose and make it boring or fun. I choose to make it fun and very rewarding.
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cause i just told you...based on my trading journal and stats....i was able to verify that saying. trading for me is a slow grinding gains day after day. what about you? what does your journal stats reveals to you? since you are trading es every day...what has it reveals to you? are you getting big gains, big loss, small loss, small gain etc. day after day?
 
vincentnyc said:
cause i just told you...based on my trading journal and stats....i was able to verify that saying. trading for me is a slow grinding gains day after day. what about you? what does your journal stats reveals to you? since you are trading es every day...what has it reveals to you? are you getting big gains, big loss, small loss, small gain etc. day after day?
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Hello vincentnyc,

My trading stats revealed to me the only thing I need to see:

Recover from drawdown and keep winning.
Recover from drawdown and keep winning.
.....
repeated times 1000 more times.

Thank you,
 
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