I must stop a losing streak!

[trader198]

start with small profit

when people lose, they bceome greedy; they get profit, they do not book, and wait for more. book profit, do not think about leaving profit on the table.

aim on small profit. or put yourself in "hit and run" mode, you will feel good when each time succeeds, just like a thief, steal something and not get caught, you feel YOU are genius, or smart.

when you have this image of your self, you feel confident in anything, after several small winners, you found trading is so easy, ...

even win 1 bucks, you are still a winner. that makes you think you are a winner, very encouraging to do more

even lose 1 cent, you are still a loser. that makes me think you are a loser, make you mentally negative,discourage you to do more, easily casts doubt in your ability in trading

you can write a limit order bid/ask with 3ks hare of a slow moving sybmol (no where market, buy dip and flip over sell at ask, orvice visa),easily you can make 100bucks.

small profit easily added up into a big pie

that is my method to get rid of a losing streak.

 

[NoDoji]

aim on small profit. or put yourself in "hit and run" mode, you will feel good when each time succeeds, just like a thief, steal something and not get caught, you feel YOU are genius, or smart.

when you have this image of your self, you feel confident in anything, after several small winners, you found trading is so easy, ...

even win 1 bucks, you are still a winner. that makes you think you are a winner, very encouraging to do more

even lose 1 cent, you are still a loser. that makes me think you are a loser, make you mentally negative,discourage you to do more, easily casts doubt in your ability in trading.

"The experiment found that when the monkeys were given a reward randomly, that dopamine levels increased. The study concluded that people worked similarly and showed similar increases in dopamine levels when given a random reward. Ultimately, this was one reason why humans enjoy gambling."

Thank goodness for the gamblers. They provide ample liquidity for the 5%.

 

[Handle123]

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

I been trading since 1978, nothing has changed, price goes up, down and sideways. I chuckle every time someone says markets is doing odd things, that just tells me they have not studied long enough. There is nothing that I haven't seen before, in my lifetime I have seen exchanges close for a week, 10 point move is ES in seconds, 13 limit up days in Lumber, and I know history repeats itself. There is nothing new in trading that someone else hasn't tested/traded before.

People lose much more when they get scared, and lack of education often is key, unable to control oneself and let's face it, you have to have a bit of S&M within yourself as you love the game of taking money away from others trading futures. And anyone that says trading futures is zero sum game can't add, commissions, equipment, internet, office/home rent, loss time of making Latte's, it all adds up into bottom line.

I can't believe you managing money for people when you lack discipline. And why would you believe that other markets trade like the Indexes that you been trading? Each market has it's own personality, I love day trading Coffee and yet I can't trade it like ES and do much volume, Coffee has it own reoccurring patterns of price and Time.

Oh well, another day of "put downs" and ego trips within the walls of ET. Just enjoying my cup of Starbucks.

 

[nkhoi]

These are tough markets to trade. Become an expert in FB, long bias, you will be in black by year end.

I've been reading some journals for years, many beneficial some entertaining. I wanted to start this thread as way for me to stay active with my trade journal and put my numbers and theories out there.

I am 100% discretionary trader, I trade primarily futures, I am no CTA but am managing couple client accounts. 2012 was a break-even year but 2013 was a good year, I made money for myself and my clients.
However, I had a bad start for the year 2014. I've lost money consistently and almost systemically from week of January 2014. I am coping and working on reversing things, as such continued losses very big and unusual for my portfolio size and trading.

I was down over $11K for January and today I lost another $2,600

 

[kinggyppo]

I been trading since 1978, nothing has changed, price goes up, down and sideways. I chuckle every time someone says markets is doing odd things, that just tells me they have not studied long enough. There is nothing that I haven't seen before, in my lifetime I have seen exchanges close for a week, 10 point move is ES in seconds, 13 limit up days in Lumber, and I know history repeats itself. There is nothing new in trading that someone else hasn't tested/traded before.

People lose much more when they get scared, and lack of education often is key, unable to control oneself and let's face it, you have to have a bit of S&M within yourself as you love the game of taking money away from others trading futures. And anyone that says trading futures is zero sum game can't add, commissions, equipment, internet, office/home rent, loss time of making Latte's, it all adds up into bottom line.

I can't believe you managing money for people when you lack discipline. And why would you believe that other markets trade like the Indexes that you been trading? Each market has it's own personality, I love day trading Coffee and yet I can't trade it like ES and do much volume, Coffee has it own reoccurring patterns of price and Time.

Oh well, another day of "put downs" and ego trips within the walls of ET. Just enjoying my cup of Starbucks.

there are still a few systems in here that work, published in 1978 before computers but people laugh at you if you are not a quant, carry on and enjoy your java...

http://www.amazon.com/New-Concepts-Technical-Trading-Systems/dp/0894590278

 

[Tonkadad]

...should be chap, nit chick....

That chap is really a chick. She said so.

 

[trader198]

if you never have loss, that means you are not a gambler. if not, you are a gambler too. should be proud of that, not shamed of that.

I admit I am a gambler. why? I do not know what will happen today or tommorrow, but I do know the market will be still there, up and down, sometime it matches my prediction, sometime it do not, this is true. I do know if I follow common sense, I will be ahead of the game.

I loaded spy 175 call yeaterday, I do not know today it will shoot or not. I do not know. but I do know the price is good, buy dip and sell high is the GOLD rule of trading, 80%time this rule always follow. plus the employment situation report is due, that is why I need get in and out before the report. those guys who shorted at 185~180, they are not naivie and not cover at this level, gamble on the report, are they stupid?

wise traders know they are gamblers, so they bet wisely, not blindly following tips, indicators,...


YES, I am a gamber! but my odd is more than 80%. only fools beleive they can trade 100%. all market parcipants are gamblers, why: they do not know the results before they start.

wise traders follow common sense. foolish gamblers listen to gossips, tips, beautiful ladies servants,... those superficial things, everyone cannotice

"The experiment found that when the monkeys were given a reward randomly, that dopamine levels increased. The study concluded that people worked similarly and showed similar increases in dopamine levels when given a random reward. Ultimately, this was one reason why humans enjoy gambling."

Thank goodness for the gamblers. They provide ample liquidity for the 5%.

 

[trader198]

that is why monkey love system trading. monkey's brain is the similar size of human being.

but monkey never can gain financial freedom through mechincial trading. I know it.

 

[california]

Did not trade yesterday, small win on Tuesday, today kept swinging from small wins to small losses.

Total 16 ES contracts traded and 3 rounds on YM.

Wheat and Crude were good short candidates but passed on those trades to maintain focus on E-Minis.

Discipline remains a concern and challenge. Stops must correspond to current volatility and daily ranges.

I'll post some comments later today.

 

[NoDoji]

Total 16 ES contracts traded and 3 rounds on YM.

Discipline remains a concern and challenge. Stops must correspond to current volatility and daily ranges.

As a trend trader, I assume you traded to the long side following the upside breakout and very shallow pullback off the open. Do you use a fixed stop or a flexible on based on previous S/R levels?