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And by concidence, my latest scalping strategy just generated a perfect example, which I've attached. It's not a bad one, since there are few real red flags on it - only how succesful it is, and the large inbalance between short/long.
Can you help answer these questions from other members on NexusFi?
Rofl yes 300k short and far less long. Just out of interest what was the input time series? If a rabid bear market then it explains the results. However I'd test it on bull market and paper trade to confirm!
Peter Campbell from M3 Financial will return on Thursday, September 22nd @ 4:30PM Eastern and will talk about the markets from the perspective of a hedge fund manager. Specific topics include: Order and Risk Management, Measuring Results that Matter, …
I ran a similar auto strategy from the looks of it. Seems like he is using martingale or averaging in or whatever you want to call it. My system worked very well as well, but I didn't like 20% drawdowns as I was just trading too much of my account. If you trade 10% of your account like he talks about, then no reason you can't pull down 2%3% easy a month which most people would kill for if you are managing a large amount.
Would you mind re-posting that in the Webinar thread? I have more to say, but want to keep it in that thread and not this one - since this one is supposed to be about psychology and not methodology.
I realize this was your first post in this thread, sorry. I just happened to have this pop up when I searched for how to define specifc times of day in NT.
When I started trading I had $1,000.00 a day commissions some times. I have blown up accounts. I have made rules and broken them. I found your post very humble and real. Trading showed me my worst qualities, over and over and over, and I'm sure it does that to a lot of us. I wrote several dozen systems that I tried live, but as strong as my temptation to break my own rules was, my inability to walk away and let the computer decide was far stronger. Maybe I have control issues, or fear, or some other defect. So, if I would not listen to myself, and would not trust a robot, it seemed like I should stop trading.
But, I could not end the obsession. I came into trading having made a lot of money for the majority of my life, but then lost a tremendous amount. I saw trading as something to toy with, but fairly quickly it presented itself as a way to get back where I had been for so long. Not that any of us will ever harness anything near this, but the potential is there to double your money, daily. The key drug in trading is "potential". And as habit forming as any other.
I decided to change myself, and still am on that path. I started eating better, re-joined the gym, and sim traded non-stop. Played with colors, indicators, backgrounds, screen layout, markets, read every book I could find on trading and set my charts up to that new recommended method, then scrapped it and started over...Same obsesion, re-directed. Sim, sim, sim, sim. Traded $2,500.00 sim accounts, beside $10,000,000.00 sim acounts, and reset them often. Named them sometimes even. Had names for my stop and profit configurations, and for my setups. Over, and over and over. Until I was numb to it. I really did not care which way a trade went. What did it matter? It was simulated. And, I had already proven I could make or loose riduculous amounts in my fictitious world. And finally, I was calm.
The "drug" is always there, and once an addict we are possibly always suspect. But, ______oholics can recover. Trading takes a lot of work, and as was so pure in your opening line, the overwhelming majority of it has nothing to do with the markets. Thanks for your post.
You said it so well. There is a very dark addictive side to trading. It can be beat but is a hard road because it involves going against our own nature. Thanks for your comments.
"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
I don't have anything of value to contribute to this thread - it's pretty clear where everybody's at.
But I absolutely had to repost the correct link to the video of the 2 sides bickering (which had BMT in the URL and was hence caught in the global search and replace), which is hilarious.