Imho, you’re speaking from a loser’s mindset. Taking a break rn would be your best capital preservation option.
Index futures automation
- Thread starter hilmy83
- Start date
Imho, you’re speaking from a loser’s mindset. Taking a break rn would be your best capital preservation option.
Exactly. IMHO, day trading doesn’t make sense if you’re not crushing it or at least making significantly more than you would just by buy and hold or swing trading.
What’s weighed down on me the last years is that you actually have to sit down in front of the screens for hours on a daily basis. Like a job where you work for money. It would probably not be an issue if it was your main gig.
I even pulled some money out of the market this year for a change (instead of trying to compound) and it felt nice. But even if I should succeed in some capacity I’m questioning if it’s worth it.
Trading burnout seems to be a real phenomena. Knowing myself I’m sure that even if I gave up or took a break I’d be back at the slot machine shortly. Maybe we’re all just gamblers and addicts. LOL.
Apparently orders don't show up properly when I switch devices with Tradingview. Ended up taking a long after a short that shouldn't have happen. Need to do better job confirming I'm flat
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Good Evening Laissez Faire,
Yes you are correct.
There is alot mental challenges in trading.
Good Evening hilmy83,
Good work.
You are not alone in your day trading and investing challenges and goals.
Keep on thinking and planning.
Good Evening Laissez Faire,
This is the best statement I ever read from you.
I have accepted being a Gambling ES trader along time ago, and my trading improved alot when I accepted this and implemented gambling ES trading.
The only problem @hilmy83 has in the world with his trading career is he needs an investor to invest $1 million in his algo system and the way he trades. Because he trades small contract size he is getting tired and burnout for good reason. He has to increase contract size for better rewards.
Trading with small contracts forever, is not even worth it, best to pour all money in TQQQ (or SP500 index) dollar cost average and live in peace and enjoy your time with family. You have to get rich quickly in the ES futures market in order for it to be worth it. Trying to go from 1 ES to 100 ES contract trading manually everyday is a lot of pain and energy.
And trying to build an ES algo system to scale 1ES to 100 ES is similar to pouring gasoline in your eyes, you will never see it happen.
So what other options do you have.....Increase size and gamble and get it over with!
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A guy who used to post here once said it's better to get rich slowly than poor quickly.
I think Hilmy already did what you suggested in the past bringing 5-10K to 100K very quickly, but then also back down again quickly.
IMHO, unless you have a massive and consistent edge, the way to make big bucks is by scaling into winners, i.e., increasing size as the trade moves in your favor. Done properly, this allows you to take home some massive wins occasionally when the market breaks out and small losses or scratches (on full size) when the trade doesn't play out.
Risk management remains key, so it's essential to never end up in a situation where one trade can break you. This is typically associated with averaging down on a loss (different from scaling in at a pre-determined action zone). Generally, I still think it's better to take a small loss on the initial small position and get back in again at an improved entry point and start accumulating if and when you're right.