Made a lot of progress, but feel like there's so much more to go...

Yea but useless difference... Would of got slightly more profits if I closed last week unless tomorrow explodes nicely, I am gonna exit before closing time tomorrow, Friday is notorious for US dollar going up, it's like clockwork

Just when I leave my eyes off of gold for a few days then it explodes! I was playing other instruments/stocks. Should have gotten back in on thurs for the Friday explosion. There was a support on the daily chart. let's see what's next..
 
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I'm not sure I understand why you would even consider quitting at this point. It would be different if you weren't profitable, then perhaps you can look at opportunity cost because it might be just continued losses, so the sooner you get out, the less money you would lose. But since you're profitable now, it should be up hill all the way, unless of course you aren't that confident.

I see you put numbers to your situation. If lets say you lost 100k, and you figure you can make about 75k or more, then this would roughly work with your figure of needing 1-1.5 years to make it back. The question for me would be can I keep doing what I'm doing and live the life I want to live. If this allows you to quit your job and just there, the answer is easy. If you still have to work, while making money to trade, and this is causing you to be over worked, then I can see why doing this another 1-1.5 years would be hard. But in this case, you certainly haven't found the holy grail because its just a side gig.

Like you say, you can always leverage up, and this is what makes trading such a damn good endevour. If you can make 50k per year consistently, hitting 100k shouldn't be that difficult, at least technically.

I really wonder what part of you makes you want to stop even if you are finally making money. I would bet that the type of trading you're doing isn't easy on you, is time consuming, is time intensive when you consider your other obligations, and if this is all true, then I would think you haven't quite gotten your stride yet.

As a side note, most people need way more than 1-1.5 years to recover losses from other failed ventures.

Just an update. I've made a lot of progress! One of my account I was down 68%!!! From that low point(thanks to margins), I was able to make back all of the losses and now higher than my original invested amount. More importantly, the wins were not as volatile. They were all the "right kinds" of trades. Sometimes big. Sometimes small. Sometimes medium. Everyday I try to get positive for the daytrades. For the swing trades I want to make sure they make sense and sized properly. When I'm wrong I get out right away. My losers are now much much smaller than my winners! It used to be the reversed. hehe.

The other account I was basically wiped out. Still hurts to think about it. But I've moved on.

I have 2 really positive accounts. And 1 additional account that's recovering. If these remaining accounts can make up all the existing losses(which at this point I have no doubt) then I'm good.

Hopefully before end of 2019 I'll have recovered everything and more. But more importantly, I've learned to trade properly.

Sometimes a breakthrough in your thinking and trading just takes time to crystallize. And once it does then it's just execution, execution, execution.
 
I was on a nonstop winning streak every single trade and every single day. Today I took a loss. Not a massive one. But a dent. But I'm glad I very good at taking losses. If I'm wrong I'm out. no indecision. In the past, I would get out at catastrophic levels. Nowadays I see oops I'm wrong. Out. Take the hit. Move onto the next trade.

Also another lesson learned today is that options for non big cap stocks are not as liquid. In liquid names I could throw around hundreds of options and get in and out easily. Not so much with small names. Gotta adjust size accordingly.
 
Also another lesson learned today is that options for non big cap stocks are not as liquid. In liquid names I could throw around hundreds of options and get in and out easily. Not so much with small names. Gotta adjust size accordingly.
You are right, in cases when my position was too big, I moved the market which was not good. :(

But their high volatility were often my best friends. :D
 
You are right, in cases when my position was too big, I moved the market which was not good. :(

But their high volatility were often my best friends. :D

Today I traded small to mid cap stock that came up on my scanner. In and out. I feel like I have an edge. I consistently make decent profits. When I'm down it's a careless mistakes or misjudging. then I recover the next day or a few days later. Very exciting times.

Just keep doing it then gradually scale up!
 
The best purely daytrade profits so far. Meaning getting in and getting out in minutes. Swing trading I had higher profits but more volatile results.

Just realized that daytrading options can be highly profitable if you are quick...
 
I have finally settled on watching just 4 markets, CL, ES, GC, and NQ. But I focus mainly on CL. I use tick charts for all of them. But it has taken 21 yrs to get to this point
21 years!!!?? What have you been doing all that time
 
Nope. Having a corporate job is not compatible with trading. You'll have to choose what you want. For my situation. I am at a 1000% profit year to date.

And there is still more profit potentials. What limits me is being human. I am in trying to develop a trading algorithm based on my rules. Problem for me is I don't have any programming skills. I know data and how to use data. But it would be much better if I could find someone with much better programming skill to do the programming. However as of yet there is no one I trust.
Wow, 1000% year to date ROI!! That's incredible. Is that a typical annual return for you? How do you manage that?
 
Over 11 years ago i had a permission to visit prop trading floor any time i wanted.I knew the right people and thanks to this opportunity I talked to traders there and observed them.
I never forget this Bund trader one Friday trading against the trend whole session,lost 80K euro that evening.All from trades against the trend for some reason he thought prices should have rebounded the other way.
They did 2 weeks later.
There was this other guy who daily traded small size,was up,down some,same next day,next week.He could trade 1200 contracts in the Bund,but kept powder dry till the moment where some form of crisis was happening.At that point he switched to larger time frame and rode 800-1000 contracts for 100-200 ticks.
This is patience,making little to cover desk fees and some and doing "nothing" for 8 months a time.
Because these opportunities will present themselves and he was ready for them.

Trade smaller,because if things will not go well in the process you adjust before is too late.Same with loss limits,all those guys had daily loss limit with the firm they were trading,some even less than what risk manager allowed for.
Great insight and thanks for sharing. Regarding the bund trader who traded small and then went big on a crisis, why did he switch to the larger time frame to book a profitable trade? Thanks.
 
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