Successful Trading and Compounding - On Steroids

it's not really that simple, hard stop get stopped out, may never be able to get in at a better price, and everyday it just keeps going the way you originally were

if you're going to use a fixed stop, as long as you are not stopped out, everything is cool, go look for something else to do, until finally your profit, if it was a loss would make you sick.

If I told you I was going to scalp for one point with no stops you would tell me that someday I would get wiped out. So why not do it backwards?
 
Holy Moly! Finally, a positive week after 5 consecutive negative weeks. And I made money on all 5 days :)

The most brilliant yet the most embarrassing trade I did was when I went long ES at 1384 and added at 1386, booked profits around 1395 and then short, and ES zoomed past 1400 and closed around 1408 or so. My plan was to book profits around 1407 - great plan, absolutely wonderful entry but horrible execution! Instead of making 2000$ on the day, I probably made 500$.

Other than above glitch, it was a flawless week. Good trading and good execution. Confidence booster. Hopefully, I can keep the running streak on for few more days in the coming week.
 
Great results. All you gotta do is follow your system, and don't to anything unless you know what you're doing. I'm sure you've already written down your trading rules and posted them on the wall opposite your trading chair.
 
Another positive week. 5 out of 5 winning days. Just before the start of previous week, I had 9 consecutive losing days. My account had taken a huge beating and my confidence was shattered. I felt like being in a mess. Now, over the last 2 weeks, I have had 10 consecutive winning days. A record for me. My previous record for a winning streak was 8 days that happened last year. I am feeling much relieved and my confidence is back.

I have made a one page excel sheet with different leverage for different setups. Now, before I take any trade, I look at the number of contracts I should be trading. I always have this sheet open during trading hours - over the last 10 days, this has helped me prevent over-leveraging my account. I hope this practice will prove to be a good risk-control measure going forward as well.
 
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1) Inability to sit in a winning position longer (say for whole of day)
2) Not having a hard stop on ALL my trades.
[/B][/QUOTE] 1) trailing stop ,2) use x amount per month,based on monthly avg profit as a hard monthly stop,or daily profit avg as a stop,you can only give back one day ,on a rising equity graph, you wont be taking 4-8% hits
 
Quote from gmst:

Another positive week. 5 out of 5 winning days. Just before the start of previous week, I had 9 consecutive losing days. My account had taken a huge beating and my confidence was shattered. I felt like being in a mess. Now, over the last 2 weeks, I have had 10 consecutive winning days. A record for me. My previous record for a winning streak was 8 days that happened last year. I am feeling much relieved and my confidence is back.

I have made a one page excel sheet with different leverage for different setups. Now, before I take any trade, I look at the number of contracts I should be trading. I always have this sheet open during trading hours - over the last 10 days, this has helped me prevent over-leveraging my account. I hope this practice will prove to be a good risk-control measure going forward as well.
More...

uh-oh now you're screwed.

Large losses are associated with over confidence.

Remember it only takes a 50% drop to put you back where you came from on a 100% gain.
 
Quote from ammo:

1) trailing stop ,2) use x amount per month,based on monthly avg profit as a hard monthly stop,or daily profit avg as a stop,you can only give back one day ,on a rising equity graph, you wont be taking 4-8% hits
More...

Thanks Ammo for your suggestions - especially point 2. I need to do some more thinking on this - will go back look at my trades and see how I can decide on a daily loss limit - either as x amount of daily profit or in some other way. I will update once I have found a method that suits me.
 
hmm no updates indicates bad news.

I have to give you credit you blew out faster, (more efficient ) this time.

Except now you Lost ex-friends and family money.

I hope you change your get rich quick bias , it's killing you.

Academics are now just figuring out more risk (of any ole nature )does not equal more profit.


THE MARKET WILL ALWAYS BE READY WHEN YOU ARE , SO DON'T BE IN A HURRY.

best of luck
 
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