How Dangerous Is This Strategy

[loyek590]

Exactly, everyone needs an outlet for emotional/sometimes reckless behavior. That's why billionaires often have adrenaline filled hobbies like racing formula 1 cars while their day-to-day jobs are very dry and disciplined.

my reply was not to how he trades or his "advice", it was to how controlled his emotions are when he is obviously responding to a swing trader in a drawdown who is so frustrated he is going to just bet large some of money on what to him at the moment looks obvious.

We've all been there, but at least I only do it in my paper account, and I assume OP is also doing it in his paper account. Just something to bitch about, very emotional. Funny to read someone who has no understanding of emotions post that it is important to control emotions. If he got it, he would have known that trading with too much emotion is a foregone conclusion same as "too much" anything is bad.

 

[i am nobody]

That's why billionaires often have adrenaline filled hobbies like racing formula 1 cars while their day-to-day jobs are very dry and disciplined.

I like F1 since I was a child..... now I should try to become a billionaire to make the picture complete.
But I feel already the need for adrenaline, so I have already one quality of a billionaire. Now try to tick the other boxes.

 

[volpunter]

Makes no difference you do it in your paper or live account . If you cannot keep your emotions in check in trading then trading might not be the most optimal endeavor.

my reply was not to how he trades or his "advice", it was to how controlled his emotions are when he is obviously responding to a swing trader in a drawdown who is so frustrated he is going to just bet large some of money on what to him at the moment looks obvious.

We've all been there, but at least I only do it in my paper account, and I assume OP is also doing it in his paper account. Just something to bitch about, very emotional. Funny to read someone who has no understanding of emotions post that it is important to control emotions. If he got it, he would have known that trading with too much emotion is a foregone conclusion same as "too much" anything is bad.

 

[Fundlord]

The trade was in my real account, It wasn't out of emotionality if was out of perceived opportunity.

But I think the strategy is too risky any how, back to my swing trading ways.

I may do some of these short term trades with very little leverage in the future.

 

[loyek590]

The trade was in my real account, It wasn't out of emotionality if was out of perceived opportunity.

But I think the strategy is too risky any how, back to my swing trading ways.

I may do some of these short term trades with very little leverage in the future.

yeah, that's very dangerous. Sounds like trading on beginners luck, since what you described is how most beginners start out. I know I did. Courage, Patience and Flexibility are the three keys to success (in any field.) Trend trading requires a lot of patience. For me, the flexibility comes in when the market is moving in ways differently for from what I started out to trade. Then I need to debate within whether I need to dig down and find some more patience, or dig down and find some courage to make a change. If you've ever tossed the I Ching, you know that about 95% of the time the advice is to do nothing, or "post your thoughts on the internet and seek advice."

 

[Autodidact]

You have to backtest your setups before you make decisions like that.

Nothing wrong with using 10x leverage if the setup statistics suggest such usage.

 

[wwatson1]

I have a trend strategy which I have developed over the years. I am constantly tweaking it, usually to my demise. But it goes through very large drawdowns and endless day after day markets that just can't seem to trend to get me out of the drawdown pit.

That's when I get bored and frustrated and just put on the opposite strategy in my paper account. At first it beats the hell out of anything I have been trading for years. But very shortly, all I am left with is big losers and small winners, and by then, the trend trading strategy is finally working again.

I have this also! I have a online betting account that I use to play about on horse racing bets all day long because some of my trades last a few minutes and some last months.

 

[wwatson1]

I have found having an outlet for the gambling part of my personality has helped my serious trading account grow more consistently

 

[Visaria]

Hey fundlord, how big is your account? I have this feeling it is about $1k.