Tell me about your Uncle Point

[ImamicPH]

Quote from ElectricSavant:

Well... yield is on a percentage basis too...throw it in a CD then...oh and then there is labor...

First it doesn't make sense to have an "uncle point" concerning your overall capital.

How would ever recover your losses?


An uncle point in each trade or an uncle point in a certain market or particular trading system makes a little more sense.

 

[ElectricSavant]

I tried "recovering the losses mentality"...it is disasterous for a trader..I learned this 20 years ago...Trading 101

Quote from ImamicPH:

First it doesn't make sense to have an "uncle point" concerning your overall capital.

How would ever recover your losses?


An uncle point in each trade or an uncle point in a certain market or particular trading system makes a little more sense.

 

[pattersb]

100%


Im in this to make a million dollars quickly .... or die/bust trying. (ie; rejion the workforce)

Bare in mind, I started with the standard 5k account about 5 months ago, It's at 20k now.


actually more like 80% at this point ... would walk away with something.
This number will obviously scale down as my account grows...

 

[volente_00]

uncle point ? WTF ?

If you think like a pessimist then you will never make it in trading.

"what you think is what you are"

 

[illiquid]

Maybe instead of waiting for a hard percentage, I think you'd have to have a very solid understanding of what it is (or was) you are (were) exploiting with that particular system, and to question whether changing market conditions have now invalidated that edge. This way, you can begin to anticipate the deterioration of a system's results prior to said drawdown, rather than waiting for the numbers to wake you up, and make the needed adjustments. But it's hard enough to stop doing something that has worked for a long time, especially if it has worked well and you've staked your livelihood on it.

 

[ElectricSavant]

This is scary...but true..what do I do? I am not smart enough to find a back up system. I need time.

My system is working and functioning and I am real scared about the day it quits working...This is bothering me to a point of laying in bed trying to come up with something to lighten the depression when it stops working..I need an ace in the hole.

I know I am sick and paranoid and I should just enjoy this period and bask in the winning....

Trading is the hardest thing I have ever done in my life. I would rather attempt to climb Mount Everest. Actually that Coinzy character was right... this is Hell


Michael B.

Quote from illiquid:

Maybe instead of waiting for a hard percentage, I think you'd have to have a very solid understanding of what it is (or was) you are (were) exploiting with that particular system, and to question whether changing market conditions have now invalidated that edge. This way, you can begin to anticipate the deterioration of a system's results prior to said drawdown, rather than waiting for the numbers to wake you up, and make the needed adjustments. But it's hard enough to stop doing something that has worked for a long time, especially if it has worked well and you've staked your livelihood on it.

 

[illiquid]

Quote from ElectricSavant:

My system is working and functioning and I am real scared about the day it quits working...This is bothering me to a point of laying in bed trying to come up with something to lighten the depression when it stops working..I need an ace in the hole.

All I can recommend is that you somehow incorporate adaptability into your system as well as in your mindset -- that is your ace in the hole. You need to embrace change, not fear it, because there will always be profit to be made off those who cannot shift when the market does.

 

[sgsaxton]

An "uncle Point" assumes you have a choice, in which case its easy to pick. If you don't have a choice and have to make it happen, then there is no such thing, and it's do or die.

 

[ElectricSavant]

Thank you sir..I have a long way to go. I hope to resolve it soon. May I ask how long you have been trading?

When I was younger the mindset never was a problem. Traders never say never...

Michael B.

Quote from illiquid:

All I can recommend is that you somehow incorporate adaptability into your system as well as in your mindset -- that is your ace in the hole. You need to embrace change, not fear it, because there will always be profit to be made off those who cannot shift when the market does.

 

[ElectricSavant]

It should be pre-determined..

Quote from sgsaxton:

An "uncle Point" assumes you have a choice, in which case its easy to pick. If you don't have a choice and have to make it happen, then there is no such thing, and it's do or die.