i earn more trading and stress far less.
the price i pay i said already...time..but everyone is different.
Trader P/L 2012
- Thread starter d08
- Start date
i earn more trading and stress far less.
the price i pay i said already...time..but everyone is different.
stress? what stress?
do you suffer from stress when playing online poker? follow the rule. fold when you have a bad hand. do not make calls. do not push. let the cards in your hand tell you what is coming. you play probability and do the right thing. trading should be simple. when there is stress, you are praying and hoping, instead of trading.
edge is hard to detect and takes lots of hours/time/hard work/screen time. pro poker players can tell the odds of 1/1000 from years of experience of seeing millions of hands. trading is similar.
guts/steel spine have no place in trading. trading is the fairest game in town. no skin color/family background is relevant. you are responsible for your outcome. there is plenty of boredom but there should NOT be any stress.
do you suffer from stress when playing online poker? follow the rule. fold when you have a bad hand. do not make calls. do not push. let the cards in your hand tell you what is coming. you play probability and do the right thing. trading should be simple. when there is stress, you are praying and hoping, instead of trading.
edge is hard to detect and takes lots of hours/time/hard work/screen time. pro poker players can tell the odds of 1/1000 from years of experience of seeing millions of hands. trading is similar.
guts/steel spine have no place in trading. trading is the fairest game in town. no skin color/family background is relevant. you are responsible for your outcome. there is plenty of boredom but there should NOT be any stress.
Apart from who does what specifically here, let me add that wins & losses, ratios, etc mean very little to bottom-line results. That is of interest to data mining, but doesn't tell a whole story at all.
Today for example I began trading CL in 4-lots, 2 and 2 on split entries at 8am eastern. I went from down -1440 on the 4-lot efforts back to +40 ahead of the 2pm news.
Once I saw how chop-pounded the tape was from relentless sideways volatility, switched to 2-lots and finished at tally posted (attached)
By far I had more losing "trades" than wins, probably an 80% loss ratio when you count stops at scratch or -5 cents or -10 cents (max size stop) all combined. The actual profit runs were maybe 20% of all trades... but they were much greater than the controlled stops.
Moral of the story? Keep your losses contained, work with markets that generally move enough to give you ample chance to recover drawdowns. That is definitely NOT the ES futures, which are hands down worst possible choice for retail daytraders. That symbol is way too congestive and range-dead for effective profit consistency.
Trading is about controlled stress, controlled excitement, controlled anxiety, controlled frustration, controlled elation... pretty much self-control. That and a real methodical trading edge is the dual path to success.
Do you have today's trades archived on your blog? I'd be curious to see the recovery from the abuse, as well as the initial beating you took.
I wouldn't use the terms "beating" or "abuse" to describe today. It was just an extremely sideways volatile tape... probably due to PFG unwinds.
A -36 cent per contract draw and back to a +92.5 cent per contract finish is not at all unusual in CL. Impossible in ES or some other symbol that dead, but symbols such as CL with normal movement and ranges give ample opportunity more days than not.
Today was just a challenge to trade. Not impossible and not cake... just tougher than we'd like them all to be
austin,
pardon me..but where is the p/l post ? sorry if i missed it but this threads allure to me is the cleanliness of simple p/l
for instance, today:
+$2,429
good day for me. applied what i learned yesterday and it paid off.