Mistake Made Trading Outside System Rules.

systematictrader said:
u didnt say if u would try to increase contract size, u said if u try to set a profit target
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Yes, and you asked if I could increase contract size to reach a daily profit target. The answer is no. It would blow up the system even faster, BECAUSE I CANNOT SET A DAILY PROFIT TARGET!
 
Overnight said:
Yes, and you asked if I could increase contract size to reach a daily profit target. The answer is no. It would blow up the system even faster, BECAUSE I CANNOT SET A DAILY PROFIT TARGET!
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i understand

again, why u mad? u always mad,, not gooood
 
systematictrader said:
i understand

again, why u mad? u always mad,, not gooood
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I am not mad. All caps does not equal anger. But statements like this...

...ur rather a plain idiot overnight,
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and this...

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i wouldnt be here to learn more and argue with the few morans like u and algofy,,,,
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and this...

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ur obvioulsy so small minded that u cant see it any other way,,,
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are not conducive to intelligent conversation. You mistake anger for frustration.
 
Overnight said:
I am not mad. All caps does not equal anger. But statements like this...



and this...



and this...



are not conducive to intelligent conversation. You mistake anger for frustration.
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fair enough, i shouldnt have directed my statements to u personally, but more so rather to ur comments, i dont believe a person can entierly be judged off their few statements

I APOLOGIZE
 
Overnight said:
You should apologize to algofy also. He simply asked a rhetorical question to vanzandt in the other thread, and you ripped into him.
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a rhetorical question asking if iam a marman? lolz, leave me and him deal with it,,, end of day we all here for opinions and education,, were not married to each other
 
systematictrader said:
a rhetorical question asking if iam a marman? lolz, leave me and him deal with it,,, end of day we all here for opinions and education,, were not married to each other
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Then I will ask you directly. Are you marsman? (That's an old user ID from what I can gather).
 
Overnight said:
Then I will ask you directly. Are you marsman? (That's an old user ID from what I can gather).
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r u serious??? all u 3 had to tell me thats that what it was and i wouldnt have thought u 3 are trying to make fun of me and intimidate me,,, lolz,,, no iam not,,, i just joined this site about a month or so ago,,,its my first on anything like this

and now u bring me to a story that answers @algofy question in the past of why iam all over the place,,, cuz 10 years ive been trading silly to say i never knew or found that there is a social community for traders, and i mean serious traders who put in the work day in day out like most of us here not ones that claim they are traders and just to sound cool,,,, and when i came to this site and found out there is tons of us in ONE PLACE it really made me thrilled specially when seeing the level of depth of traders and that some even been trading longer than i was born it really brings the community together,,, i know i couldve and shouldve looked into sites like this before but i didnt know,,, in matter fact when i found it a month or so ago it was unintentional, i searched on google for backtesting software and some quote from here came up,,, and here we are today,,,point is thats why iam opening subjects right and left on things that in the past i didnt know many it can be opened with
 
systematictrader said:
one thing i can tell u about the psychology for profits and if u cant manage it u must do something about it,,, first of all u cant think profits u cant u cant specially if ur systematic, u cant watch the position and say omg this is too much money or enough money, ONCE AGAIN this is if ur systematic, u need to follow the system to where it says to exit not where u believe its a lot of money

i once struggled with this heavily 3 years ago, and it got to the point where i want to hire someone to put my trades for me and tell him to think in terms of X multiples where all he sees is enter X amount or 2X amount,,, enter here and exit here

another way to try to get over that psych is to treat ur self as an employee for ur self,,, if someone hired u and say enter at point x and exit at point y, then ur job is to do just that, regardless of the amount of money involved cuz the amount increases and decreases based on position size, whether the person is trading 10 lots or 1000 lots ur job is simply enter position size as instructed and enter trade on x and exit on y

u have to remove ur self and try to hide p/l tab if ur software allows it so that u only see the prices in the market and where u need to enter or exit,,,

another way also is to imagine as if ur someone else money, who is to say if 150 or 1500 or 15000 is a lot of money or a little?

if ur goal is to grow in terms of money u deal with whether ur own or now u must think percentage and not override ur system based on dollar amounts
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systematictrader said:
one thing i can tell u about the psychology for profits and if u cant manage it u must do something about it,,, first of all u cant think profits u cant u cant specially if ur systematic, u cant watch the position and say omg this is too much money or enough money, ONCE AGAIN this is if ur systematic, u need to follow the system to where it says to exit not where u believe its a lot of money

i once struggled with this heavily 3 years ago, and it got to the point where i want to hire someone to put my trades for me and tell him to think in terms of X multiples where all he sees is enter X amount or 2X amount,,, enter here and exit here

another way to try to get over that psych is to treat ur self as an employee for ur self,,, if someone hired u and say enter at point x and exit at point y, then ur job is to do just that, regardless of the amount of money involved cuz the amount increases and decreases based on position size, whether the person is trading 10 lots or 1000 lots ur job is simply enter position size as instructed and enter trade on x and exit on y

u have to remove ur self and try to hide p/l tab if ur software allows it so that u only see the prices in the market and where u need to enter or exit,,,

another way also is to imagine as if ur someone else money, who is to say if 150 or 1500 or 15000 is a lot of money or a little?

if ur goal is to grow in terms of money u deal with whether ur own or now u must think percentage and not override ur system based on dollar amounts
More...
Thank you systematictrader,

You are right and after some thought.

It's sooooo easy for an intra day trader to get caught in the daily profit goal. When in fact, your system sets the P/L from the day, not the trader. The trader is just an execution. Trader job is to take trades unemotional.

I belive I had it backwards in my goals, instead of me thinking about a certain profit target per day I want to make, i should revaluation my system to stats to say how average can the system make a day and the predict "with this system based on backtesting , it's projected to make xxx per month or year based of 252 trades per year."

I will back the system for taking allll trades from 8am to 11am and measure the positive expectancy and just trade it if I like the results.

What do you think about my logic?
 
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