My Life as a Trader...
- Thread starter daystructure
- Start date
Spoken by the guy who doesn't use stops.
Jk....
Their words come back to haunt them.
omg that was funny.
WOW
I did not expect the response I received from the initial post. This thread will quickly become 100+ pages if 1post per 4 pages is the response rate.
Today was a +1.25 point/contract day; +$375.00. I could have performed much better as I had several signals that I was too "chicken" to take. I'm taking a break after the close and this post, then I will re-evaluate the day as well as my setups.
This recent volatility in the markets is a gift, especially since it's crunch time between Thanksgiving and Christmas.
To answer some of the questions in the replies:
1. Yes, this is real trading
2. Yes, I have read Fooled by Randomness and was, indeed, fooled by randomness as my previous 'edge' was derived from leverage, as opposed to trading with an edge.
3. Since taking the $1m loss in December of 2007, I have worked endlessly to prepare myself for this moment. Trading requires continuous monitoring and improvement; this journal is part of the effort.
4. Risk management is incredibly key in trading. I recognize this now. All of my trades are either right or wrong, that's it. I keep a reward risk ratio above 1.50 as frequently as I can. This may be low by some standards, but we all have our methods of trading.
Thank you all for the support as I go through this process.
Cheers!
Sell 'em High, Buy 'em Low, Take Their Money, Bash Their Nose.
Best,
DayStructure
+1.25/+40.00
I did not expect the response I received from the initial post. This thread will quickly become 100+ pages if 1post per 4 pages is the response rate.
Today was a +1.25 point/contract day; +$375.00. I could have performed much better as I had several signals that I was too "chicken" to take. I'm taking a break after the close and this post, then I will re-evaluate the day as well as my setups.
This recent volatility in the markets is a gift, especially since it's crunch time between Thanksgiving and Christmas.
To answer some of the questions in the replies:
1. Yes, this is real trading
2. Yes, I have read Fooled by Randomness and was, indeed, fooled by randomness as my previous 'edge' was derived from leverage, as opposed to trading with an edge.
3. Since taking the $1m loss in December of 2007, I have worked endlessly to prepare myself for this moment. Trading requires continuous monitoring and improvement; this journal is part of the effort.
4. Risk management is incredibly key in trading. I recognize this now. All of my trades are either right or wrong, that's it. I keep a reward risk ratio above 1.50 as frequently as I can. This may be low by some standards, but we all have our methods of trading.
Thank you all for the support as I go through this process.
Cheers!
Sell 'em High, Buy 'em Low, Take Their Money, Bash Their Nose.
Best,
DayStructure
+1.25/+40.00
Also, it's called get rich quick because life is too short to get rich slow.
I'll post more after I review later this afternoon.
Hope all of you are well.
I'll post more after I review later this afternoon.
Hope all of you are well.
Who? Pabst, Joab, Marketsurfer?