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My mindset is not at right place these days so not doing anything regarding trading, with all the talk about BREXIT I want to take it slow this week. Moreover, first time in a long time I would be at profitable after six months. Every month I closed green with January and May being my best months and March being my worst month and all my trades are real.
Somehow, I couldn't get into the idea of simulation (I don't buy that idea, I should have practiced a lot on sim though...), I just placed a trade in sim (with stop and target) I don't feel a damn thing, if it's real trade I would be constantly looking at my phone/charts/PnL/fio/twitter etc etc to find anything (Positive/Negative) related to my trade...I would be second guessing my trade and then second guessing that guess so on and so forth and finally give up and close it...Don't get me wrong I am not afraid to loose, it is just that I am LITTLE LATE in adjusting to the right or wrong trade i.e if I am right I should be adding but I recognize it little late that I am right and same with wrong trade too i.e I should be cutting it quickly and reversing the position but again I am little late in recognizing that, maybe I am too hopeful or afraid to take loss.
Am I consistent in these six months? I DON'T KNOW YET. Reason I don't know is I meet my goal for just 2 months so now I believe that I am at break-even which is better than loosing. One thing I realized is my freaking never give up attitude ( I didn't know that I had it in me before this). Honestly, I loose interest in things/problems once I know the solution (typical Aries mentality) but now I am surprised that I keep pushing myself towards trading without giving up by now.
Anyway, my year end goal is to close the year with profit and follow the damn method.
Awesome to hear you've been profitable for 6 months! That's fantastic and a real step forward. I'm with you, I get nothing from SIM. In fact, I have a couple of SIM trades on right that I"ve had for a couple of months....I just wait until I'm profitable then exit. Lol...if I could only do that in real life. Hope you continue towards profit, now that you know the path!
Thanks. ONLY PATH I realized is DON'T FIGHT THE TREND (worst is DON'T FIGHT MY OWN METHOD ) that saved me a lot except that I fought it in March and lost big time previous months profits but I realized it and got back at myself, do I still do it? Yes, I do but with very cautiously taking consideration of all the contextual elements. These day's even if I enter a counter trend trade I am able to recognize it quickly and close it, now next step would be let go of my mean reversal mentality (or initial bias) and follow the actual trade (work in progress). My account is kind of small account that also makes me nervous in scaling in (another work in progress). I sincerely hope everyone I follow (including you) religiously every day here on fio WILL BE SUCCESSFUL in all the endeavors in life.
Thank you for the link bmtrading, but my brain shut down when I hit this line of the text...
"But be prepared to tackle emotions with logic because with enough logical questions and statements you’ll get to the causes, which are much easier to comprehend."
To me, logic and emotions are mutually exclusive. They cannot co-exist in the same vein, in my mind anyways.
Didn't wanted to trade today but couldn't resist then tried a short long short and got chopped up for 60 YM points and somehow got out that hole for small positive...shut it down because I don't want to trade on a day we already reached 500% of ADR....next week hoping to start from fresh
Wise decision. I am flat too in ES, QM and of course 6B. I actively trade all those but I'm just going to sit out for now. I do have a position on in soybeans, but beans pretty much live on their own planet.
It's tempting to jump in when you see all these big moves, but the risk is high. I like volatile markets, my system does well in them, but this is not volatility. This is...holy mother@#$%!&$^!!!!!AHHHHHH!!!
I came into today trying to find a bottom on both OIL and YM (I know I know...)
Took oil long using QM at 46.40 and with next hour I am looking at a hole (talk about perfect timing, I should avoid trading near VPOC) then saw VPOC shifting to bottom and when I saw price coming back from lows I took another contract at 46 but only to find me shaked out of my position and as expected the short covering came in at the pit close reaching my original price target. I took another trade for closed just for 20 ticks maybe because of that fear from previous trades.
Took YM trade couple of times but the last one is at 17k and saw it went up down up down and I almost gave up on this trade too but somehow held on to and closed it for 60 YM points in total.
LOL...every single time. I have to do something about this, still letting fear taking over my analysis. Anyway, can't fret about it as long as I am green I should take it as a progress.
) that saved me a lot except that I fought it in March and lost big time previous months profits but I realized it and got back at myself, do I still do it? Yes, I do but with very cautiously taking consideration of all the contextual elements. These day's even if I enter a 