Grinding it out, day after day

Lescor txs a lot for sharing what you are doing, its truly inspiring.

I have been in the market for more than 12 years but mainly trading fixed income products: rates, currencies, and derivatives related to both. I never had the desire to really trade equities as I had in currencies but since 2weeks ago when I joined this forum your's and Geez's thread completely changed my mind.

Reading yours and Geez's threads were a revelation, I definitely found out something really interesting to pursue in a few years from now whenever I decide to leave the investment company that I work for to have a better quality of life.

Although you sad you were not on the teaching business I think you were wrong. Teaching is not showing what to do, at least in my life the best teachers I ever had were the one that inspired me, and this is exactly what you (and Geez) have done (I am sure there are much more in this forum but those 2 were the bet threads I found out in the last 2 weeks). I respect you guys a lot for that.

P.S - Apologize for any mistake I made, english is not my native language

Bst of luck for the rest of the year

CH
 
Quote from CH1973:

Reading yours and Geez's threads were a revelation, I definitely found out something really interesting to pursue in a few years from now whenever I decide to leave the investment company that I work for to have a better quality of life.
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Lescor's and Geez' threads are very different, yet together demonstrate the necessary tool for ongoing success:

A trader's mindset.
 
Quote from NoDoji:

Lescor's and Geez' threads are very different, yet together demonstrate the necessary tool for ongoing success:

A trader's mindset.
More...


They are definitely very different but they share one common thing.

They show how its possible to trade successfully by yourself using basically 3 things.

1. Correct Mental Approach
2. A back tested system with positive expectation of return;
3. Money Management.
 
I don't know yet if I'll continue this journal. Things have been pretty boring for the most part. Aside from May 6th and my fat finger, there haven't been any big events all year. Some good dialog though.
 
Quote from lescor:

I don't know yet if I'll continue this journal. Things have been pretty boring for the most part. Aside from May 6th and my fat finger, there haven't been any big events all year. Some good dialog though.
More...


1. Does it add value for you? That might be one reason.

2. It does add value for other traders for sure.

3. Also for me, it would be great if you left it up after the new year 1/1/11, I really don't have time to re-read it all before then....so please do not 'close' it or whatever they call it here.

Tx
 
Lescor,

We know that a stock's movement is not always directly correlated to the overall market's movement and you've indicated previously that this is not a requirement of your trading (but hedging may be used). But when you look at your few top money-making strategies, to what extent do you depend upon the tide of the market to do better than break-even?

The single biggest thing that affects my losing trades is the market itself. Short signals fire for all the right reasons, short positions are taken, and then the market rallies sufficiently to knock most of my shorts on their asses.

-- Do you struggle with this?
-- Any thoughts to improve the odds in these scenarios?
-- Doesn't this pain point exist equally with trend or RTM approaches?

Continued appreciation,

J. Scott
 
Some strategies are affected my market direction more than others, but for the most part market direction doesn't matter. If you asked me what the market did yesterday, 95% of the time I wouldn't remember. If I traded strategies that depended on getting market direction right, then I might as well just trade spy or ES.
 
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