Second account blown and conditioned to lose

[Leob]

Sim trading won't work

This is BS.
sim fight flight work and also sim trading can work.
The OP mistake was he start to fly ( live account) to early. Go back to demo and start to understand market phenomena with price chart, volume, and volume profile. Right mix of those tools and you fly.

 

[Laissez Faire]

Hit the nail on the head there. Swing trade with any reasonable system and you will most likely make money. It involves less decision making so increases the chances of you not stuffing it up.

Do you find that to be true in this environment as well or is this post QE/FED market harder for swing trading?

Personally, I want to add swing trading to my repertoire eventually, but regarding stress in some ways I find swing trading more stressful as I'm usually thinking about my positions 24/7 - even if they're profitable. Day trading can be stressful (usually related to market pace, leverage and if you're in drawdown), but when I'm flat for the day I have no positions on and zero stress.

 

[alistera]

Thanks for reading, and please, do not be too harsh, I am already more than harsh at myself as is.

No matter how harsh you think you are on yourself, the markets will be harsher, the rose tinted glasses are the first thing that need to go. The markets are designed to make sure you lose, you provided no numbers so it's difficult to gauge how real your efforts are, the metric is 1-2% return on capital per month, anything more and the loss curve is logarithmic.

The rule is 10,000 hours to be good at something and it's not necessarily about experience, it just takes that long to lower your expectations down to 1-2% per month, most never get there, can you push above that level, basically no because it's needs technology and methodology to replace your thought processes, and those don't come for free.

 

[smallfil]

One of the most important things for traders in the stockmarket is to have a positive expectation on your trading system. If not, you are just gambling like those in Las Vegas. The gamblers in Las Vegas get free rooms, free food, perks. If you lose your monies on Wall Street, making negative expectation trades, you only have losses to show for it. Not connected with these guys, just using this as an example.

https://www.danielstrading.com/2011...ccessful-traders-understanding-expected-value

 

[getthatintoya]

Do you find that to be true in this environment as well or is this post QE/FED market harder for swing trading?

Personally, I want to add swing trading to my repertoire eventually, but regarding stress in some ways I find swing trading more stressful as I'm usually thinking about my positions 24/7 - even if they're profitable. Day trading can be stressful (usually related to market pace, leverage and if you're in drawdown), but when I'm flat for the day I have no positions on and zero stress.

Having faith in your plan and correct position sizing will help, but not solve thinking about your positions 24/7. Don't get me wrong there is a time and place for day trading but 90% of the time imho swing is a much better option.

 

[SimpleMeLike]

You suffered a $655 loss today and that blew out your account? Geez!

Good Morning Overnight,

It is what it is, Fuck it, I was trying to get rich. I was trying to turn about $1500 to +$XXX,XXX in less than 2 months.

Trying to get rich man.

I ONLY play the trading business to get rick, and that is to get Rich quick.

 

[MrMuppet]

@Anothertrader1
I make it short, plain and simple:

You have no edge!

You have no industry background, you have no clue how the business works and you don't have any idea how edge looks like, where to find it and how to exploit it.

And how could you? This business is cut throat and nobody will help you. You're here all by yourself and you will have to figure it out all by yourself. In order to make money someone else has to lose it.
At the moment you're a victim of your own pipe dreams. 2,5 years? Do you think it's realistic to learn a skillset that is insanely scalable in 2.5 years with barriers for market entry as low as a 500$ Robin Hood account??

Come on man...

 

[alistera]

Trying to get rich man.

I ONLY play the trading business to get rick, and that is to get Rich quick.

In the markets you can be poor slowly, you can be poor fast, but you can only get rich slowly, I was generating 50% per quarter for a HNW, it was hard work and soulless as everyone expects the world for peanuts, then they get upset when you do something they are not used to, you give them monkeys

I was working on an HFT system that generated 500% per month, but you could only sustain it for a few months before the markets changed and you had to move to investing, basically there is no one that can shift from rapid profits to slow investing overnight, I think we got it down to one week but that week would still evaporate a healthy chunk of profits.

 

[smallfil]

Having faith in your plan and correct position sizing will help, but not solve thinking about your positions 24/7. Don't get me wrong there is a time and place for day trading but 90% of the time imho swing is a much better option.

There is probably, a huge number of day traders who have failed than those few who have succeeded. The time factor is short, the pressure of daily making monies and not making mistakes is probably, too high a bar for most traders. Swing Trading and Trend Following gives traders a better chance of succeeding. The tax advantages too favor people holding their stock for over 1 year atleast. You get taxed at much lower rates compared to short term trading.

 

[SimpleMeLike]

In the markets you can be poor slowly, you can be poor fast, but you can only get rich slowly, I was generating 50% per quarter for a HNW, it was hard work and soulless as everyone expects the world for peanuts, then they get upset when you do something they are not used to, you give them monkeys

I was working on an HFT system that generated 500% per month, but you could only sustain it for a few months before the markets changed and you had to move to investing, basically there is no one that can shift from rapid profits to slow investing overnight, I think we got it down to one week but that week would still evaporate a healthy chunk of profits.

Good Morning alistera,

Atleast you tried.