Losing days

[Overnight]

The account balance would be irrelevant. Probably what would be more important would be liquid net worth. At a minimum if some one was prepared to lose say 100K trading i would expect them to have a liquid net worth of several times that amount...

One more stupid-ass statement like that and I'll report this thread as being as irrelevant as your content. Seriously, what is your goal with this thread? You post all these huge losing days and laugh them off as if they mean nothing. What message are you trying to send? Dude, not many folks can suffer the drawdowns you post here.

I'm about to call your spade the spade that it is.

 

[algofy]

Odd journal...enough said.

 

[Millionaire]

One more stupid-ass statement like that and I'll report this thread as being as irrelevant as your content. Seriously, what is your goal with this thread? You post all these huge losing days and laugh them off as if they mean nothing. What message are you trying to send? Dude, not many folks can suffer the drawdowns you post here.

I'm about to call your spade the spade that it is.

I have mentioned the goal several times. The aim of this Journal is to help me take my losses without emotions upsetting my discipline in following my trading plan. Its a valid viewpoint for a free Journal like this to primarily be written to help the writer. If other people want to write journals to primarily help other traders then that is up to them.

You can report this journal all you like, its not a violation of the ET rules. So i cant see why Barron or the mods would delete it.

The ideal type of trader is the one who can take losses without losing discipline. To quote from Alpesh Patel's book 'The Mind of a Trader'.

"The discliplined trader: This is the ideal type of trader, you take losses with ease. You realise a loss does not make you a loser."

 

[Millionaire]

Odd journal...enough said.

Why? i because i don't want to focus on my winning days?

Its like what Van Tharp said: you want to pat yourself on the back when you follow your trading rules, even more so on the days when you lose money by following your rules perfectly.

That is what i am doing on this journal.

 

[Millionaire]

My fear and beleif is, if you focus on the negative you will achieve what you are focusing on.
An example, if you would like to live in a nice house, don't walk the streets gazing at old houses, because you will surely end up buying an old house.
The subconcious mind will lead you to what you intently gaze at.

I think there is truth to what you say.
But for my type of trading which is automated, the winners and losers will just happen as the market dictates. I have no influence over that. However i could potentially manually override the system. For example it only takes a few seconds to do the 'Close all positions and Cancel all orders' menu click in IB TWS.

Instead i do lots of mental rehearsals around how to handle the long losing streaks and the big drawdowns an automated system sometimes generates,

There is a relevant quote by Bill Eckhardt in New Market Wizards:

"You should spend no time at all thinking about those rosy scenarios in which the market goes your way, since in those situations, there’s nothing more for you to do. Focus instead on those things you want least to happen and on what your response will be."

 

[Millionaire]

Lost -8155 GBP (-10700 USD) today.

Really pleased with my trading at the moment, i'm able to take these losing days without much emotion. This journal is definitely helping.

List of losing days for this year (organised as losing day streaks):

-5530
-3130
-756
-4379
-265
-2732
-4187

-2058
-4974
-103

-2807
-2766
-3243
-4107
-3778

-5209

-3513

-8699
-4668

-4920
-1842
-1988
-3402

-7001

-3063

-3710
-1787
-5353
-3560
-2187

-8155

Currently losing day streak is 1
Current drawdown is approx 30000GBP from high watermark made in May

 

[themickey]

Is it possible to list the date alongside your losing days?
This would show a persective on frequency, ratio of trading days vs losing days.
Or group them for each month.

 

[wrbtrader]

Is it possible to list the date alongside your losing days?
This would show a persective on frequency, ratio of trading days vs losing days.
Or group them for each month.

I already asked that...basically I was turned down.

Then he mention the journal was to "help newbies" or maybe he said new trader...I can't remember the exact quote.

Oddly, newbies or new traders "do not" journal this way nor document their own trading this way. In addition, this is a journal by an automated trader. Just copy/paste basic metrics from the automation trading would be helpful for a "newbie automated trader". Nope...he's not interested.

Also, I asked for the number of trades per day or number of winners / losing trades per losing day or even a ratio in comparison or some comparison to a mean. Again, he's basically not interested in disclosing such but still wants the journal helpful for newbies.

The only metrics revealed...amount of dollar per losing day...number of losing days...any streak of losing days...total drawdown and that its GBP dollars. Also, I think he mention once he's profitable or implied such and these trades involve the Emini futures. Oh...almost forgot...he's trading 10 - 30 contracts depending upon the trade or day although the typical newbie does not trade that many contracts...more like single digits of contracts for newbies.

Yet, if you follow the journal...even if he post a losing day for today...I'm not sure if the loss is for today or the prior trading day that he didn't post.

Regardless, its helpful for newbies ?

 

[themickey]

8155 GBP loss is higher than normal but is it higher in relation to the bets?
I suppose the journal may assist the OP but by and large posting this journal of 'information' on ET is as helpful as tits on a bull to anyone else.

 

[Millionaire]

Yet, if you follow the journal...even if he post a losing day for today...I'm not sure if the loss is for today or the prior trading day that he didn't post.

Today means today, ie the date of the journal post.
If it was the previous day i would obviously say: yesterday.

Anyway July is looking like it is going to be a losing month for me , although the month isn't quite over yet.