My demise

Giddiyup said:
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MAybe it's changed since I traded. But my advice is erase ALL beliefs.
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A. You come here looking for advice about how the markets might have changed, and admit that they might have.

B. You then give advice of your own.

Yer a weirdo.

Dude, if I made a good 6 figures in one year, and lost only 5 figures in the next year, I'd be dancing in the streets. That is AWESOME profit over two years. I do not think you are serious.
 
Thank you. Lesson learned: don't take everything someone states from the outset at face value but scrutinize for logical coherence.

Overnight said:
A. You come here looking for advice about how the markets might have changed, and admit that they might have.

B. You then give advice of your own.

Yer a weirdo.

Dude, if I made a good 6 figures in one year, and lost only 5 figures in the next year, I'd be dancing in the streets. That is AWESOME profit over two years. I do not think you are serious.
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Giddiyup said:
I blamed the hfts my latency my internet and so on. It was me and only me. I did not see it as a small loss. I saw it as a loss of opportunity.
I also recognized that I was psychologically unprepared to trade any longer and so quit. I had assets. I could have pumped more money into my prop account and would have certainly lost it.
I have a different perspective now. I have years of successful experience to draw on. I am friggin ready.
I will really try to help new people here while I prepare. Of course at the end of the day everyone can't do the same thing. The more people that do something that works, the quicker it will stop working. But some things traders must do are timeless.
Having accountability for your tradws is first and foremost.
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I can kind of see this. I started trying to trade in 2011, so about when you left and HFT was becoming a known and regular thing. CNBC would often show numbers that in the following years increasingly showed that HFT had taken over volume in the markets primarily in the stock market, than later seeping into index and currency futures. So maybe your particular methods were found and front-runned by the hft and algos. Not saying changing methods, different time frames wouldn't have a possibility to work of course and maybe old momentum scalping was ruined forever. But you've done well for ten years, better than the vast majority of retailers who tried probably.
 
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GRULSTMRNN said:
This scenario would never play out and here is why.

You can't generate 275k in the first place if you respected your risk limits, and then a 25k loss is 5 times your risk limits or drawdowns? Makes no sense. Either he got lucky on the first 275k but in that process vastly exceeded his risk limits via over trading size or other means or he set his drawdown way too low for a strategy that swings this much...
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I made 275 k my last year of trading. I made about 1 million in total in 10 years. I think I had a decent sense of risk management. I traded millions and millions of shares a year. I cut my losses and let winnings run. I almost never had a big loss related be to winnings. Most of the time I made sure system shut me off after a few hundred dollars loss. But I never stopped when I was up a thousand either. Back when I traded that was a primary mistake of traders. They stopped when they made "enough".
So what I had success with was a ton of small losses and a relative small number of big winners.
275k is not slot either. I had friend traders who made and lost that figure in single days.
One time one guy who was addicted to heroin passed out during trading hours snorting heroin. He was down 70 k while passed out and by the time he woke up he was up 110k through a reversal. One of the best dudes I've known. Sad story too. I've seen some crazy shit during trading hours. Like I said I have always been a piker.
 
Overnight said:
A. You come here looking for advice about how the markets might have changed, and admit that they might have.

B. You then give advice of your own.

Yer a weirdo.

Dude, if I made a good 6 figures in one year, and lost only 5 figures in the next year, I'd be dancing in the streets. That is AWESOME profit over two years. I do not think you are serious.
More...
It's ok dude. You don't have to believe it.
 
Good luck to you. Your approach to trading sounds highly chaotic.

Giddiyup said:
I made 275 k my last year of trading. I made about 1 million in total in 10 years. I think I had a decent sense of risk management. I traded millions and millions of shares a year. I cut my losses and let winnings run. I almost never had a big loss related be to winnings. Most of the time I made sure system shut me off after a few hundred dollars loss. But I never stopped when I was up a thousand either. Back when I traded that was a primary mistake of traders. They stopped when they made "enough".
So what I had success with was a ton of small losses and a relative small number of big winners.
275k is not slot either. I had friend traders who made and lost that figure in single days.
One time one guy who was addicted to heroin passed out during trading hours snorting heroin. He was down 70 k while passed out and by the time he woke up he was up 110k through a reversal. One of the best dudes I've known. Sad story too. I've seen some crazy shit during trading hours. Like I said I have always been a piker.
More...
 
Overnight said:
A. You come here looking for advice about how the markets might have changed, and admit that they might have.

B. You then give advice of your own.

Yer a weirdo.

Dude, if I made a good 6 figures in one year, and lost only 5 figures in the next year, I'd be dancing in the streets. That is AWESOME profit over two years. I do not think you are serious.
More...
That advice about beliefs has been valid and will be valid as long as trading exists. Don't have beliefs. Beliefs are your enemy as a trader.
I think that's valid advice for any trader.
 
Giddiyup said:
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So what I had success with was a ton of small losses and a relative small number of big winners.
275k is not slot either. I had friend traders who made and lost that figure in single days....Like I said I have always been a piker.
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No sympathy here. Welcome back to the REAL. You're gonna' need it. (Luck). It is a brave new world out there.
 
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