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Updated May 18, 2022
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June 11th, 2013, 02:54 PM
Detroit, Michigan
Experience: Beginner
Platform: Ninja Trader
Trading: Futures
Posts: 315 since Nov 2011
Thanks Given: 571
Thanks Received: 301
Excellent post and very helpful!!
xelaar
Podski, you are, my friend, as always come with the toughest questions here
Before the combine, I was actually checking out different ideas I used over time in Forex trading to apply to Futures market, and selecting best combination of idea/instrument. So I traded good and bad. What I did then is to select good from bad. All is revealed in my original thread about flying turd.
To be honest about sports, I am a lazy bad to train properly. It explains why I suck lately at racing. I did well like 2 years ago when I went to gym regularly and run like 6-8 miles non-stop training for endurance and was running outside like for 10 miles. I have to say though I started to do that again, but got swamped with reserach and test stuff when started Combine, especially in later stages. But I am back again into training, running outside and bicycling. Working out clears your mind even better than the body. During the Combine once I did few good trades or bad trades I would go outside for a run for 1-2 hours and come back fresh and set a fresh view on the market. It helps ENORMOUSLY.
So when training for a sport it helps to get a focus. If you try to do many things at once its hard to keep focus on all, and eventually you will lose it at all. So if I come to gym I will do my running a main focus and anything else is just auxilary. You need to find one thing and focus hard on it. And practice. Practice makes perfect.
About discipline and boredom. Again, focus on something. Don't try too do many things at once. That's why I believe it's best to get one market at a time and focus on trading it with one specific methodology. Not necessarily just one setup, but one approach. Then it is easy to track performance and know how you are doing.
Boredom.. get some hobby. Work out. Don't make trading be your hobby or it will pay you like a hobby. Trading is a business for me, not a hobby. A way finance my hobbies. I advocate for anyone to approach same way. Otherwise you will slide it into the gambler mode.
I was all mess like many when trying to trade many different styles at once for a while after I started. When I found out news trading the best was not even the method itself, but the strict boundaries it imposed: you can only trade certain event, so there is no issue of overtrading, there is only one or two ways to trade it so there is no struggle of different systems. And since you trade uniformly, you accumulate invaluable stats that makes you believe in what you do and risk money with easy knowing you will make it back even if you lose today.
I had losses like 5-6k usd in a second when trading news, but while I was upset I wasn't broken or anything. As I had a strong belief in what I did. And it was based on firm history of my trading and strict rules that made sure stats were trustable. So when I made a loss it changed nothing. And I had maybe one a couple of losing months during this almost two years exercise. Some winning months were huge. It's a great approach - take every day as given, take a loss or a small win without thinking too much this day. Big days will pay for it. But review your logs and stats regularly (not while trading, so better on weekend or at the end of month) to see if you need slight adjustment. You want to rinse in repeat in this business. If you want to show your creativity become an artist or designer.
Today my family is at home finally. And my daughter, Agatha, is at home first time in her yet short 5 days long life
To add honey to my happiness I just got a call from Hoag congratulating me and welcoming to the funded traders team!
Can you help answer these questions from other members on NexusFi?
Best Threads (Most Thanked) in the last 7 days on NexusFi
June 11th, 2013, 03:27 PM
Belgium
Experience: Intermediate
Platform: Ninjatrader
Broker: Ninjatrader Brokerage, CQG
Trading: FDAX, FDXM ...maybe
Posts: 357 since Sep 2012
Thanks Given: 499
Thanks Received: 470
June 11th, 2013, 04:36 PM
wa/ usa
Experience: Intermediate
Platform: Rithmic
Trading: "CL ES 6C 6E" NQ only nowadays
Posts: 266 since Oct 2012
Thanks Given: 202
Thanks Received: 454
xelaar
I've received this quote today:
The irony is Jessy did die poor indeed.
The biggest reason for his demise from what I have read is he didnt use position sizing nor had any risk control in place ( it's pretty obvious now but when we are in similar situation we do similar things). Even the smartest trader should have some risk control in place such as DLL, drawdown etc.
June 11th, 2013, 04:46 PM
Western Florida
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Frequency: Several times daily
Duration: Minutes
Posts: 8,171 since Jan 2013
Thanks Given: 57,812
Thanks Received: 26,373
June 12th, 2013, 05:26 AM
Posts: 1,034 since May 2012
Thanks Given: 1,244
Thanks Received: 1,327
xelaar
To add honey to my happiness I just got a call from Hoag congratulating me and welcoming to the funded traders team!
Awesome news. Well done. I think it was probably clear to most followers of your journal that it was only a matter of time before you got funded. You show great discipline, patience and maturity/confidence in the way you approach the market. All critical aspects to making it in this business.
Do you know when your funded trader interview is yet? Do you use the same username on TST as you do here so we know who to listen out for?
Diversification is the only free lunch
June 12th, 2013, 05:42 AM
Hervey Bay Qld Australia
Experience: Intermediate
Platform: NinjaTrader
Trading: Futures
Posts: 214 since Sep 2011
Thanks Given: 155
Thanks Received: 358
Awesome news - look forward to the interview.
You must be very very happy.
June 12th, 2013, 10:59 AM
prague, czech republic
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
Posts: 1,437 since Feb 2013
Thanks Given: 1,740
Thanks Received: 2,568
Thanks, guys, appreciate it. I have filled my trading plan proposal and submitted it for scout team review. I believe I will hear from them soon. In a meanwhile some legal stuff must be done. They recon all will take 2-3 weeks. It's fair. I think the interview will be at the point when all formalities are completed, live account and setup and all is ready for going live. My nick name at TST is "raa" so feel free to check it out.
Trade to live. Not live to trade.
June 12th, 2013, 11:13 AM
Posts: 2,441 since Apr 2013
Thanks Given: 487
Thanks Received: 1,633
Congrats and best of luck going forward.
June 12th, 2013, 11:58 AM
Point Roberts, WA, USA
Experience: Advanced
Platform: IB and free NT
Broker: IB
Trading: ES
Posts: 4,033 since Dec 2010
Thanks Given: 1,509
Thanks Received: 2,593
Well done Alex (aka raa)!
Congrats on both the new baby girl and getting funded.
TST is lucky to have you trading for them!
All the best.
..........
peace, love and joy to you
.........
June 12th, 2013, 09:15 PM
Manta, Ecuador
Site Administrator Developer Swing Trader
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,632 since Jun 2009
Thanks Given: 33,362
Thanks Received: 102,018
Congratulations @xelaar
Mike
Last Updated on May 18, 2022