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I had won my first sim trade of the morning for $500. I enter trade 2 and KABOOM Ninja decides to turn itself off. I was WTFFFFFF???? Turns out my demo was up. Nothing like learning that in the middle of a trade. I can't even get at my chart to post the 1 winner. Bummer
I have to get a new demo account with another broker now so I won't have any charts until I can make arrangements.
Got into trouble a bit early today in pre market. Got myself back to even however I am a bit frustrated now so I am stopping for the day right now. I am assuming they were waiting for 10am news to hit before moving things around in there. I'm good with that.
I was a bit of an eager beaver today to try out the new data feed I think.
Today's 2 ES trades and a really nice ZW trade. ES wasn't happening so I went over to ZW and picked up about 7.75 points in there I think. Charts are down there.
3 winners today and I was done. Something is FUBAR with my cable connection and it seems as though I cannot upload any charts or anything for that matter. Cable guy is coming tomorrow "btween 4-6". F###
I got FUBAR from a trade I took last evening before bed on ES and went down HARD. I was toooootally wrong on the call. I then lost my first trade of the day and was promptly down in the neighborhood of like $5300. I battled back with 2 more winners in ES and 2 in ZW and ended up the day $1125 green. I can live with it. Charts are down there.
I was reading a thread just now that was discussing the "risk of ruin". To me if you are even questioning that you have a propensity to trade scared then you should not BE trading.. There is the probability of loss on every trade you take hands down. The ONLY control over the most important thing you have done once you click the mouse is how much money you don't lose.
I met a professional trader recently who gave me some good advice. It was trade less and go for more higher points. I have started to incorporate that into my trading psyche.
Today I only took 5 trades one of which was a small loser that hit the stop which I had snugged in because I was wrong and knew I was wrong. The stop was hit and I was out with a smaller loss than I would had had I not moved the stop in. The reason I had taken the trade had changed and was no longer valid thus I GTFO of there in a hurry. I still ended up today with $6375 in the green on sim trading and was very happy to have a had made the right call on the loser.
If the question of risk of ruin is in your mind you need to get it out there because that is just a negative that will eventually cause you to make an error thus perhaps over trading and eventual failure/blow out. Who controls those thoughts in your head? YOU do. One huge losing trade can set you back for sure. Why do that to yourself? I think if your are trading the "size" that is optimal for the amount of money in your account you should have 0 worries. If not then?
Both times I traded live in the market I lost some money and although I did not blow out either time I just simply stepped out. I was not ready yet. Was I trading with scared money? No I was not because I had gone in there with the realistic expectation that I could perhaps lose money. I had accepted that fact. That being said it was very easy to trade without emotion. Was I mad about losing the money I did. No I was not. I had also accepted that losses are part of doing the business of trading. If you don't want to do the business of trading then don't trade.