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I have proven 3% to 10% per month to myself. I do not have enough risk capital to make that the right thing to do financially, based on what my beliefs are. I need to build a cash reserve just for the sake of "what if". Or because it is what I am used to. My risk tolerance has been compromised.
Can you help answer these questions from other members on NexusFi?
"Nothing in this world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan "press on" has solved and always will solve the problems of the human race" Calvin Coolidge
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Yes think this was a rare catch, i bring good luck to the waters
Sounds like once upon a time you had fishing the golf on lock down, ashamed you did keep it up!!!!
I will change that if i move out here, you need a balanced life style Mr Gary D, all you seem to do is work, work and em work!
If i was to move out here, 1st hurdle is finding a way for the states to give me premision which seems to be rather hard from the site i have been on and the people i have spoke to about this matter. We should 100% team up though, 2 great minds are always better that one in my vision
Next time i come back im getting kittid up fot he "JEW FISH" (this is what the locals called the fat grouper) going to get a 70lb+ drag reel and wrench one of these big boys out. Sounds crazy fishing for something nearly twice the weight of me he he
Just like going out on a Friday night hog hunting as the locals here would say!
Any ways up live and kicking now, if you got time for coffee let me know ASAP bro. I dont see no sun at the moment
Now back to your trading "issues" man up!
I think you think too much about this whole situation, you have learnt and proven you can ride a bike now and jump the small dirt jumps down the park, you now need to trust yourself and start hitting the bigger jumps getting some nice air
Thinking too much is not good for you, your a machine and your not programmed to think your programmed to execute your trade plan!
Like i said before the best way i can see to do this safely is in a constructed trade plan in place for account growth and trade size, for example (just for demonstration purpose 10k account)
10k account = average 10 ticks of risk per trade 1% of account per trade
For every 10k added to account value you earn the permission to add another contract to you positions
For every 10k lost from your account value you get punished and take 1 contract off you trade position
Keep this in uniform shape for your trade style and plan
have a max daily loss of your account 4% on the 10k account
have a max daily profit 10% on the 10k account
If you stick to this sort of trade plan you will be trading larg size safely before you know it and have the confidence to do so because of the strategy above. Its rule govern and controlled and simple
At the moment your stuck in your comfort zone, your routine and how do you expect yourself to just jump and start trading size when you stuck in your ways. You need to grow slow and with the above method trading larger will become the norm and routine and habit and comfortable
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
I originally wanted to because I thought I saw an opportunity. That idea got manipulated, by myself and by some friends, and before I knew it I was trying to be a trader, something I did not understand. During that time, things continued to get worse for me, and I saw that trading possibly offered the potential to make myself, and others who had lost money with me in real estate deals, "whole".
I feel like I am right on the edge, but not comfortable enough in a few areas. Unable to be happy is a little strong. It's more that I have spent so much time pursuing a goal, to be here and think, "That's it?" Impatient I think.
I do not enjoy always traveling, airports, rental cars, hotels, being away from home all the time. With all of the time I have invested, I would think trading is the natural direction for me to go, and would give me more time at home, wiht my wife, doing other things I want to do.
I have been an entrepreneur for 20 years, feel a certain need for independence, do not know how to work for a company maybe. Or, just not sure.
That is what I have believed and what has kept me going. But I have this internal level of tenacity where it is difficult for me to pursue something in moderation. When I go after a goal, it is intense for me.
Yes, that is correct.
That is a part of it also. What has me pinned between a size I am comfortable with, and a size I feel I started this whole process for.
I guess I was encouraged to do so by other traders. It was explained to me that if I want to get the "best bang for the buck" (those are the exact words of a prior mentor), I need to trade futures. Futures offered the best opportunity to increase size as I gained knowledge.
The stopping swing trading was the other side of that move. Futures are so swift that swing trading seemed intense. It caused me to start looking for more reliable setups that were easier for me to see, believeing it is easier to know what is happening now than what will happen later.
im in USA till 17th dude, we gotta catch each other before there or it will be a big shame
Whats the chance in you getting back friday?
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
Traders most likely went long at the break above the prior W4, creating the local double bottom. The major stop placement was likely the previously presumed WB. Price is approaching a high timeframe W5, plus the 618 of the move down, major longs at the DB are above a 2:1 RR, and appear to be selling into these rallies to exit a good trade in advance of possible major resistance. Major whipsaws whe the selling pressure subsides.
However, the move up on Friday looked very intentional, with bursts of buying blowing upwards.