If I Was a Trader, I’d be the dumbest Trader on Earth

Nine_Ender said:
Beautiful day to deliver food and he got paid !!!
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actually did 2 door dash delivery this morning so far. i dunno, these past months, not making as much money on food delivery as compare to last year. ubereat, door dash, grub hub has been sending me shitty orders. i refuse to do any delivery that is less than $6 and more than 1 miles. maybe these companies are training the new drivers to pick up shitty orders. not me…not doing these shitty orders. so now i'm focusing more on trading.
 
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KGTrader4 said:
Now that I’ve got your attention lol….

I say IF I was a trader, because I’ve got so much to learn before I can call myself one.

anyway, I’ve managed thru this clown show called 2022 pretty well. Keep in mind I’ve always been a long term investor and have tended to “buy and hold”. Now that im retired from advisory, I’ve been able to be more active, and about 3 months ago I sold a bunch, including about $450k in S&P 500 ETFS. M”strategic allocation for my long term (IRA) money is 65% equity. I’ve been around 35%.
And year to date, im down 6.8%, so im happy.

BUT WHEN IT COMES TO TRADING, I have this big problem called lack of patience and discipline. I think it stems fro FOMO.

Yesterday, I was really liking the strength the market was showing and reversal near the close. So at 3:55PM I put $120k into SPY and 50K into QQQ. I also sold my 2x inverse fund QID, which I’ve owned for a few weeks. Thinking we are close to washed out , due for a bounce and the late day reversal up made me think it might be coming next week.

WTF is wrong with me? Discipline is so hard to develop. I shouldn’t be trying to play a bounce in this market. Hopefully I get lucky and get out on Monday with a gain.
I’m not even putting this in my trade journal, because it’s not really a trade. It’s a dumbass move on a hunch.

F me.
Rant over. Thanks for letting me get it out of my system
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What's wrong is blind attempts at prediction or guessing.

Use meaningful nonpredictive algorithmic trading. Your life will change :-)
 
easymon1 said:
Sounds good. Where is best to start?
How long did it take you?
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I have an ongoing "public illustration" here on ET in the journal section that you may explore and see if it may fit your needs.
You can, in any case, give it a try. You got nothing to lose, and all to gain if it works out for you.

(I have been working on this for the last 25 years.)
 
KGTrader4 said:
I’m not sure what meaningful non predictive algorithmic trading means. I don’t write code
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Yes, I understood from your post that you do not conceive it.

That is why I was offering you a way out. You can just try and see. You won't leave anymore :-)
 
KGTrader4 said:
***
Yesterday, I was really liking the strength the market was showing and reversal near the close. So at 3:55PM I put $120k into SPY and 50K into QQQ. I also sold my 2x inverse fund QID, which I’ve owned for a few weeks. Thinking we are close to washed out , due for a bounce and the late day reversal up made me think it might be coming next week.

WTF is wrong with me? Discipline is so hard to develop. I shouldn’t be trying to play a bounce in this market. Hopefully I get lucky and get out on Monday with a gain.
I’m not even putting this in my trade journal, because it’s not really a trade. It’s a dumbass move on a hunch.

F me.
Rant over. Thanks for letting me get it out of my system
More...

You articulated fairly well what you saw near end of day Friday and you knew that the market doesn’t go down in a straight line even to hell without a retrace. Most importantly, you executed trades based on your monitoring and analysis.

You don’t mention your emotional state at the time you placed your trades. Maybe your thinking and feeling were aligned at the time. Maybe they weren’t.

In any case, on Saturday morning, when the market is closed, you started this thread. Did fear kick in overnight?

A couple of scenarios to consider:

(A) Let’s say you didn’t wait until near the close on Friday but entered your longs after midday. Would you still create this thread on ET?

(B) How about the same timing but your trade size was cut by half. Would you still rant on ET?

Your focus on discipline, or the lack thereof, seems to be misplaced. I think your trading process can be improved by considering the two scenarios above.
 
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