I must stop a losing streak!

[trader198]

california.

sunny state?!

is that a joke?

I once lived in San Francisco three years. I love that place. it is the most wheather kindest place on the earth.

lost 11k, and feel big hit? you are not suitable for trading. gee, you are not a trader.
your mental status is not correct.

 

[california]

Losing streaks are usually caused by "incorrect bias". (I know, lots of players say, "I don't have a bias, I just trade"..... which is dumb. If you're buying it's because your bias is for a bounce of some magnitude. If you're selling, your bias is for decline of some magnitude.)

Sounds like you "traded around a long bias" in 2013, which was correct. In 2014, long-side bias has so far been incorrect.

You ALWAYS need to have the correct bias... and trade around it. (Doesn't mean you can't/shouldn't fade your bias short term... after all, there are "counters".)

I do establish macro view/trend and try to stay in its direction but you must remember coming to the market with some preconceieved notion can cause more harm if market does not do what you "expect" it to do since...you should expect anything. I keep longer term view in mind but I do trade what's in front of me.

 

[california]

What was your return on this account in 2013 ?


On your losses for 2014, have they been from being long in a downtrending market ?



Or from getting chopped up being short during the increase in volatility ?

in 2013 I performance better than all 3 indexes (ES, YM, NQ).
2014 losses were due to being on the wrong side and yes, mostly getting stopped out due to change market structure

 

[trader198]

a market is defined by the its behaviors, not the symbol itself.

I once each day just trade GAP up and Gap down,only hottest in the session. that is a specific market bahavior.

most people lost because they trade too generic market behaviors. ES trending session is really just small percent. most time you should play Fading ( buy dip sell pop, and forget about your plan and trade intutively by fast fingers, not chase rally and sell drop).

Nodoji's chart is nice,but sadly it is afterfact, useless. Better spend some time on the Friday's employment situation report.

 

[california]

california.

sunny state?!

is that a joke?

I once lived in San Francisco three years. I love that place. it is the most wheather kindest place on the earth.

lost 11k, and feel big hit? you are not suitable for trading. gee, you are not a trader.
your mental status is not correct.

Everyone's approch is different, I do not trade large number contracts, I do add to my positions and sometimes do hold smaller positions overnight. such draw down unusual my style of trading and money management.
Regarding SF weather...Mark Twain once said "The coldest winter I've ever known was the summer of San Francisco"

 

[dbphoenix]

I keep longer term view in mind but I do trade what's in front of me.

To be blunt, you don't do a very good job of it given the desperation implied by the title of your thread. And even though we're now at the 36th post or so, you have yet to provide a chart which shows how you trade. Or a trading plan. What exactly do you expect people to do for you?

 

[california]

Well, a suggestion that's a little different from the rest.

Careful getting free advice from strangers in a strange forum.

Most of the "traders" in this site are pikers, you have considerable amount of money in your account, you sure you want to be taking advice from them?

Many seem to be hindsight experts, and a few mean well and might actually give you good advice, but since you are new, how do you know who to listen to and who to ignore?

I did not give you trading advice on purpose, would had been a contradiction to the above.

Bottomline, do your own diligence and be very careful.

True on all counts, but opening this tread helping me put some things in writing and reflect on things...I plan to write my observations, trades, losses, etc...

 

[NoDoji]

Nodoji's chart is nice,but sadly it is afterfact, useless.

What planet are you from? I've had that trend line drawn on that chart since the contract rolled from Z to H in December last year.

 

[NoDoji]

2014 losses were due to being on the wrong side and yes, mostly getting stopped out due to change market structure

You're not trading price action then. The structure of price movement hasn't changed since I started trading in 2008.

 

[cmb]

What planet are you from? I've had that trend line drawn on that chart since the contract rolled from Z to H in December last year.

hmm dont you love these comments?