Crazy paper trading day

spy said:
This is basically what I've been posting on this thread from the beginning but he got mad at me because I said it with some hyperbole and authority. You sugar coat it and get a new but-buddy... go figure.

I suspect @farmerjohn1324 is just not that confident and needs a pat on the back. But, not being confident is a big problem. And, unfortunately, no one has mentioned the means by which he can gain such confidence (e.g. tests of statistical significance).

So, if you think you can pull it off @farmerjohn1324 go for it. But just don't come back here crying if you lose tons of money. You were advised by many people it's not easy and that you should probably wade, rather than dive, in.

There are professionals just waiting to take money from so-called "whales". The challenge is to become professional and participate in a mutually beneficial manner. And, there's no magic secret to that... just years and years of hard work.

I think it was in "Reminiscences of a Stock Operator" where I read that trading is one of the hardest ways to make an easy living one can imagine. There's certainly truth to that. Switching careers after already becoming a millionaire just doesn't sound wise to a lot of people.
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I tried my hardest to ignore you until you just wouldn't shut up.

You think you have authority *laugh emoji *laugh emoji *laugh emoji
 
If I were to pick one flaw with my trading psychology at the moment... It's that I would never be satisfied.

Let's say I "shot for the moon" and was successful/lucky once and made a quick $80,000 in 3 seconds...

That's more than an average salary in the USA in 3 seconds, but I wouldn't be satisfied. I'd keep trying for more and more and more until the law of averages says eventually I will lose.

I need to find a good balance between hedging risk but not hedging it so much that it takes away from potential gains.
 
farmerjohn1324 said:
I tried my hardest to ignore you until you just wouldn't shut up.

You think you have authority *laugh emoji *laugh emoji *laugh emoji
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First and foremost you should listen to your own intellect. As far as I'm concerned, listen to me or don't listen to me... I don't care. My bot has been basically printing money and so I couldn't care less. And finally, I don't want to even try speaking from a position of authority, just from experience. ;)
 
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farmerjohn1324 said:
If I were to pick one flaw with my trading psychology at the moment... It's that I would never be satisfied.

Let's say I "shot for the moon" and was successful/lucky once and made a quick $80,000 in 3 seconds...

That's more than an average salary in the USA in 3 seconds, but I wouldn't be satisfied. I'd keep trying for more and more and more until the law of averages says eventually I will lose.

I need to find a good balance between hedging risk but not hedging it so much that it takes away from potential gains.
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Either way, I'm going to start getting some real "skin in the game" soon but not with 100 contracts, I'll put in 3 and just do a simple strategy. It will be boring and basic and I'll even outline it here.

Having real money in the market and at risk will motivate me to improve strategy quickly rather than spending eternity thinking of the endless strategy possibilities.
 
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It is so common for those who've accomplished much in other endeavors to think it is just about automatic once they try trading, and especially if they have early success. I happily welcome them.
 
SunTrader said:
It is so common for those who've accomplished much in other endeavors to think it is just about automatic once they try trading, and especially if they have early success. I happily welcome them.
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I've already failed in trading from 2019-2022. Only started having success in August 2022 until the present.
 
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