I am still not sure your problem is due to the flaws of your strategy or your deviating from your discipline.Did you have a conclusion?
Did you try trading ES instead of NQ?
I have been daytrading GBP/JPY but recently tried daytrading ES with the same method, with promising result.I have tried NQ but the result was not so good because SPX seems to be leading index.That means moves on ES are more decisive and moves on NQ tend to be false moves.
He has a problem with leverage, positions size management and volatility.
It's not a good time to be switching to the Emini ES futures until he's backtested whatever trade strategy he's using to determine if Emini ES, micro MES futures, micro MNQ futures or whatever is more suitable.
In fact, its not unusual to see highly successful traders switch to a different trading instrument or don't trade at all when market conditions change to high volatility or unusual volatility that they already have experience with not being able to manage trades in such.
Yet, I strongly suspect there's a problem with the
psychology. I'm just not sure about how much of that is impacting his trade decisions and trade management decisions after entry.
Too many holes right now in his trading plan that he has to fix on his own because he doesn't reveal any statistics of his trade strategy to get specific help with it if he were to ask for such.
Don't forget the purpose of his thread here...he stated it earlier in the thread...becoming
a CME leasing member (B3). Oddly, the position size he was trading did
not correlate with the account size...he was over-leverage and if I'm not mistaken...the CME membership requires them reviewing your trade history at the brokerage.
If that's the case...they would have denied him membership or recommend he use their education tools at the CME Group website about proper leverage....something I wish all brokers would make a client take that course and answer the questions (pass the class) prior to trading with real money.
In the old days, to become a CME member...you needed a recommendation from another current member.
He may just goes down with the ship without giving any answers about his statistics and its odd that he has
no live streaming videos on his biggest trade loss trading days during the increased volatility of August so far.
Also, as stated a few times earlier...without the live streams on those key losing trading days...we can't see his position size management for each trade because there's no screenshots of timestamp trade fills in his broker trade execution platform.
Yet, hats off to him for showing what he has shown for some of his trading days because most can
not be that transparent. Yet, at the same time...he's clearly withholding info for whatever reason that would allow others (as in us the viewer) to see between the lines about what's really occurring in his trading beyond the obvious of
over-leveraging.
Its very similar to the problems he had in the high volatility trading month of December 2018 in which the only clues about his trading in that month is that he stated he lost 1/2 of his trading capital in
one trading day during that particular month...a month that volatility broke out of a range of increasing volatility that occur earlier to the upside in October - November 2018.
That alone reveals he's a consistent / profitable trader when volatility is normal or boring. Yet, when volatility is active and far above its mean...he can not resist the
seduction of the volatility because it would require him to resist the lure of the price action making those big price movements.
wrbtrader
