Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Files are about 4 gigs or so? I didn't change anything. I think I'm just getting throttled. If it happens again today I'll have to call the ISP. Hopefully when I move we'll find a place with fiber. Keep your fingers crossed.
Not sure what the deal was yesterday, but today's uploaded just fine.
Today I made a huge mistake. It's really embarrassing to post these, but I think it's important to point out that I'm still learning. I had one good trade, and I got a signal for continuation so I put another contract on. It immediately went against me and gaped up twice. At that point I thought it was going to come back down so I waited it out. If I had stopped where I should then I may have gotten a better short position at the top. I could have had a big winner today, but instead I took a small 3 tick loss.
So use this video as an example of what not to do:
Super slow trading for the start of the day. Had a few ok trades, had a few bad ones. Came out even for the most part. This kind of action can kill me so I'm happy I got out ok. Looks like we really fell after my time window expired.
Another poor day. This is the third big down day in the past week, and I feel that this is more than a drawdown. Add to this that after a month or two I'm basically flat I feel I need to make some adjustments. I feel like I might be reverting to some old bad habits. Here's what I concluded after analyzing things a bit.
I'm doing ok on my entries for winning trades. It usually doesn't tick back on me more than two ticks. In cases where I gave it more room it didn't benefit me.
I tend to have bad losing streaks.
Past few days I picked poor price risk entries that were 4-5 ticks of risk.
In cases where I felt confident and added on another contract I ended up taking losses. It seems like the second contract just makes me late.
I may be more consistent by taking shorter targets.
Overall I have too many trades per day.
The biggest metric I need to improve is the win rate. I'll be paying closer attention to which signals I take to find out which ones are working, and which ones aren't.
I'm a regular visitor of your journal. I am not an expert here but what I've noticed is after you've entered the market market moves few ticks in your direction. It also seems that you are adding second lot with the expectation that market will break out. I use to do it too and 90% of the time It ends up a loosing trade. Wouldn't it be better to let it break first and enter on pull back ?
Based on the above why don't you try a little bit opposite of what you are doing right now. Try to make an entry with 2 lots as your initial position and then set the target order with 2 ticks away from your initial entry with 1 lot. That way you will preserve your profit of 2 ticks on one lot and let the other one run.
Thanks for watching. I'm definitely not going to be loading up the way I was before. It seems like having two entries just makes me late. I started doing it because it really helped me on some strong moves, but I think I started doing it too often. It doesn't help that I seem to have a tendency to join impulsive moves lately, and so I just end up getting trapped. I think when I'm trading well two contracts like that would be a good idea, and would still fit my risk parameters. Right now though I'm planning on just going back to 1 lot until I've built back some confidence.
I was hoping to have a good day to end the streak and save my account. I tried to be extra cautious, and I think that cost me in a few instances today. I don't think I hit the drawdown limit yet, but I'm awfully close.
I'll probably have to restart the combine. It sucks, but in the end maybe it's a good thing. I've received so many messages with advice the past few days. Recording everything for the world to see has really turned out to be helpful.
Maybe we'll have a final YOLO on that account before I have to reset it.