Taking 76K to 500K by Year End

Status
Not open for further replies.
Quote from scriabinop23:

i had a day to match your week today (on now much smaller accounts). Dumb me .. buying 'support' this entire fall this week with oct index options.

Who would've thought we'd blow thru 1505 from 1585 in all of 5 days after the FOMC did their thing.
More...

You mean you lost more than 37K on a balance of less than 163K in one day this week? Ouch, that must hurt. Sorry to hear that.
 
Quote from neke:

You mean you lost more than 37K on a balance of less than 163K in one day this week? Ouch, that must hurt. Sorry to hear that.
More...

actually 26k on fri, and quite a bit more from the beginning of the week.
 
I'm sure it's been pointed out here by others, but your money management plan (if you have one) is what's killing you. Losing >10% of your account on a single trade? Then do it over and over and say, 'gee I should better define my plan and figure out what I'm doing'. Refining a trading plan comes while trading small size that won't hurt you then size up incrementally as results support it.

You may have a fine strategy, but your risk controls are atrocious. I don't know any successful traders that take even 1/10th the risk you do. Ever heard of flipping a coin and getting heads 5, 8 or 10 times in a row? Something to think about. At this rate your journal will be done before year end, because you'll be out of money.
 
Quote from lescor:



I don't know any successful traders that take even 1/10th the risk you do. Ever heard of flipping a coin and getting heads 5, 8 or 10 times in a row?
More...

ever heard of reducing your position size in a drawdown?there is nothing wrong with his position sizing if you think about it. all he is doing is increasing his drawdowns in order to reach higher returns. as a long its conservatively lower than 60%dd there should be no risk of ruin, the fluctuations will be huge but thats the price you pay
 
lescor is right. cut down on position size and have fun fine tuning the strategy. forget the 500k, it is beyond your reach for now. the trading strategy is the key.
if you don't do that losses and frustration will cause you to quit very soon, not knowing what could have been.
 
Swing for the fences...$500,000 is only a couple big trades away!


Quote from reid5525:

lescor is right. cut down on position size and have fun fine tuning the strategy. forget the 500k, it is beyond your reach for now. the trading strategy is the key.
if you don't do that losses and frustration will cause you to quit very soon, not knowing what could have been.
More...
 
Quote from midlifeguy:

Swing for the fences...$500,000 is only a couple big trades away!
More...

HAHAHAH Nice.

Riches or Ruins...
Ballz to the wall...

Like Nike says JUST DO IT!!!

I disagree, I say f the 500k target cause the pressure will make you take dumb trades as the year closes in on you. Just take each trade for what it is and ease back in and build your winner mentality back up. You have the skills, now you just need to keep disciplined.
 
Status
Not open for further replies.
Back
Top