Sekiyo’s journal
- Thread starter Sekiyo
- Start date
Forgive me if you feel I'm intruding, but this being a public journal I'm taking my chances. I think @hafez50 already gave you great advice and you should absolutely stick with 1 MES for now.
At this point in your journey, don't focus on making $$$, but honing your skills and learning your craft. Think in terms of points extracted and trading well, not $$$. And nail down those points consistently with small drawdown. If you can do that - you can start compounding. Everyone can have a great day once in a while, but the really good traders are those who're consistently generating returns with very small drawdowns over time.
Always value what you have and be very careful before entering. Do not put your money at risk unless you have a very good reason to do so. Easier said than done for all of us, but a big part of this game is actually not trading. Just waiting for a prime signal. Sure - the market may move without you, but if you don't have a signal, you don't have one.
"This looks like it can go lower" is usually not a good reason.
Only when you're getting consistent and relaxed trading 1 MES and actually have profits to show from it you can start scaling up. And that should be profits from not 1-2 good outlier trades, but a series of well executed trades.
I get the feeling you're impatient and want the big returns now, but by rushing it, I fear you're going to blow your account instead. 5K is not a large account, but it is money and it can be compounded to a large sum if you can get consistent. But you need that consistency and absolute trust in what you're doing first.
Good luck!
At this point in your journey, don't focus on making $$$, but honing your skills and learning your craft. Think in terms of points extracted and trading well, not $$$. And nail down those points consistently with small drawdown. If you can do that - you can start compounding. Everyone can have a great day once in a while, but the really good traders are those who're consistently generating returns with very small drawdowns over time.
Always value what you have and be very careful before entering. Do not put your money at risk unless you have a very good reason to do so. Easier said than done for all of us, but a big part of this game is actually not trading. Just waiting for a prime signal. Sure - the market may move without you, but if you don't have a signal, you don't have one.
"This looks like it can go lower" is usually not a good reason.
Only when you're getting consistent and relaxed trading 1 MES and actually have profits to show from it you can start scaling up. And that should be profits from not 1-2 good outlier trades, but a series of well executed trades.
I get the feeling you're impatient and want the big returns now, but by rushing it, I fear you're going to blow your account instead. 5K is not a large account, but it is money and it can be compounded to a large sum if you can get consistent. But you need that consistency and absolute trust in what you're doing first.
Good luck!
Tough time lately.
Done one good trade,
Basically sold ES HOD, took profits @ 880.
I am down 1K anyway...
Was down 2k up to a point.
Was basically gambling.
I am over trading.
Need to follow your advices.
Trade 1MES. Build up.
Need to get a life and some sleep,
I am basically behind the screen 24hours.
I gamble with loss.
Secure tiny profit overall.
I am impatient, scared and counter trading.
I basically made every possible mistakes today.
Need to learn.
Progress.
Avoid avoidable mistakes.
Think every trade as a loser.
C’mon ...
You can do it.
Even though I might not be done for this.
Take care !
Done one good trade,
Basically sold ES HOD, took profits @ 880.
I am down 1K anyway...
Was down 2k up to a point.
Was basically gambling.
I am over trading.
Need to follow your advices.
Trade 1MES. Build up.
Need to get a life and some sleep,
I am basically behind the screen 24hours.
I gamble with loss.
Secure tiny profit overall.
I am impatient, scared and counter trading.
I basically made every possible mistakes today.
Need to learn.
Progress.
Avoid avoidable mistakes.
Think every trade as a loser.
C’mon ...
You can do it.
Even though I might not be done for this.
Take care !
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Not that it will help you, but I had 7 really good days in a row and today I was in the red all day as well. Money wise I am not even bothered that much after that win streak, but today was one of those days I managed to basically enter almost all my trades in the perfect spot to get straight to my stop in the fastest possible way. It is really hard to not question everything I know and have been doing so far.
Anyway, as I said it won't help you but know you are not the only one that was lost today.
Anyway, as I said it won't help you but know you are not the only one that was lost today.
Losses don’t bother me neither.
It’s overall profitability that matters.
You’ve done your best,
Hope you didn’t give it all back.
Shit happens and it’s tough mentally.
But if we can grow better from it it’s a win.
Hope tomorrow’s going to be a better day
Do your best. That’s all that matter.
Don’t be bothered by variance.
Think long term ! Value wise.
As I said I can't complain about the losses, previous 7 days were really good so no worries there. It is just so hard mentally sometimes not to start 'adjusting' and sticking to the plan while taking a beating.
I used to play poker on a decent level so am quite familiar with variance. Maybe I forgot over the years, but it feels trading is harder in this area.
I used to play poker on a decent level so am quite familiar with variance. Maybe I forgot over the years, but it feels trading is harder in this area.
Man, what do you mean "losses don't bother me"?Losses don’t bother me neither.
It’s overall profitability that matters.
You’ve done your best,
Hope you didn’t give it all back.
Shit happens and it’s tough mentally.
But if we can grow better from it it’s a win.
Hope tomorrow’s going to be a better day
Do your best. That’s all that matter.
Don’t be bothered by variance.
Think long term ! Value wise.
Taking care of the risk should be your number one priority.
Because without it, there might not be another day to trade.
As they say, take care of your losses first and the profit will follow.
I mean it’s part of the game ...
Short term up and down is volition.
What matters is the expected value if you wish.
Risk management is important of course.
And I am currently not managing it properly.
Most of my bets aren’t worth the risk involved.
That’s what bothers me.
To take a bad trade. Not to lose a good trade.
Your chart is very hard to follow. Can you post a trade log with the time stamp instead?