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Been on vacation this week so the live journaling was tough but I did plenty of trading so here is the review :
Positives: I made money and the statistics look good THATS IT. This week was the closest I have come to just full fledge gambling with futures contracts. It was just straight up the market has to go up because I am long type non sense. Using any and every excuse to scale into to losing trades and trading 10 to 15 lots with reckless abandon. I think the real lesson for me this week was if you are on vacation BE ON VACATION. Truthfully I knew I was in trouble just bringing the laptop with me. The true scary part is there was a time in my trading career where I would have bragged about making money on vacation! Lol similar to the people that have a "system" for playing slot machines LOL. It was amateur hour all week folks! Luckily I have a wife that can tell when I am trading for no other reason than just to be in the market so she finally confiscated the laptop LOL.
While I am lucky to be kicking still , this week showed me that even if you have been trading awhile, If you take the discipline out of your trading man it can get crazy quick. My trigger is trading without a stop if I get in the market with no stop I can almost guarantee I will get long 15-20 contracts easy and look for a "pop" haha. Mind you I am a 1-2 lot YM scalper never risking more than 20 points.
What a week though wow, the live journaling also really helps with my discipline I just completely went off the rails this week! Sheesh always learning something new about myself. This trading journey really is something! Trade Preformance Week
Trading: Oh what a tangled web I weave, When I want to take profits in trading
Frequency: Several times daily
Duration: Years
Posts: 1,771 since Nov 2014
Thanks Given: 3,523
Thanks Received: 3,119
I had to go back to your original post just to confirm this.
I do admire your guts to post this and your willingness to look silly. I also hope that this fuels the necessary behavioral transformation to succeed in trading. Obviously there is no right or wrong way in trading. It's your money and you can spend in any way or form you want.
I went through 3 stages of development, specifically related 'adding to loser' strategy.
1st stage, for many years, I was 'hopeful' of a turnaround. Then I revised it and called it 'part of the plan'. Now I simply call 'suicide'.
I can never say with confidence whether I will succeed in trading or not but I'm 100% sure I won't go broke. It's because of 1 simple rule, thanks to Tom Hougaard. It's..... Well, you know it.
Yes it is shocking how quickly once you break a simple rule and completely use luck as a indicator. Tom definitely got that part right adding to losers is all about pain avoidance. The inability to admit you are wrong or the need to make money on every trade is truly the downfall of any trading edge. I am grateful that this time was not a catastrophe and that my wife cut me off LOL but wow very eye opening how easy the mind can justify destructive behavior.
Congrats on your personal accomplishments. I've only had time to skim so I don't offer this as a holy grail, but you've got to get the right commissions entered and accounted for.
Your scalping style without commission costs (all in) is not realistic. Buy a seat or pay whomever but make it accurate in your reporting or you do yourself a disservice.
I mentioned the commissions and procedure for updating NinjaTrader at page 5. 1 Minute Man began reporting with commissions set at page 11. All screen captures since page 11 have commissions included.
The commission stays for the configured account until you reinstall the software or reset everything back to defaults. If you setup a new/additional SIM account, you will need to set commissions for the new account, though.
Been on vacation this week so the live journaling was tough but I did plenty of trading so here is the review :
Positives: I made money and the statistics look good THATS IT. This week was the closest I have come to just full fledge gambling with futures …
