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This the frustrating thing about trading, you can do everything right and still lose money. No other 'job' that I've ever known takes money OUT of your account when you did what you were supposed to do, but the market does. If you trade a system and the system has a statistical edge, the goal is to trade the system according to the rules, and the edge will play out. The goal is not to always make money, the goal is to follow the rules, so the edge can bare itself out over time.
Some systems can make money with a 35% win rate- at that point the 65% of losing trades weren't mistakenly taken- it's just those trades are part of the system.
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,510
Introduce Risk into paper trading to make it at least approach something real. Something you hate or something difficult etc. and make yourself do that thing every time a paper trade does not work. Maybe eat something you can't stand, a habanero or two? One habanero per unit of Risk. If the stop has to be behind S/R and that is 3 "units" away, you eat 3 habaneros if the trade does not work. It must be something you DO NOT LIKE. Something on the faster side seems better to me...like eating. Harder to put off. If you don't follow thru making yourself do whatever you decide this business is not for you.
Ron
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,510
If you can walk into a bank with your business plan...
and secure a big loan for your business, say $250-500k , because the bank sees a solid and sound "strategy" all written down and laid out in a professional manor then yes you have a good trading plan.
But to me it just sounds like you have ....some kind of loose...idea about what you are looking for and I'm here to tell you...you are only fooling yourself.
The best traders on the planet trade ES and they are 100% prepared and love the fact that you are not because it makes it very easy for them to transfer your money into their account and it's all wonderfully legal. And we are very patient.
Please write out a detailed trade plan.
Ron
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
There are a lot of parts to the system i didn't mention.
learn these: doji, hammer, inverse hammer, wedge, head and shoulders, support /resistance, trendlines, trend channels
use doji as a caution may reverse
use hammer as a sign of bullishness
use inverse hammer ....in the right location as a sign to short(usually if rsi indicates that a trend downward is begining)
learn wedges
learn head and shoulders,
50sma, watch this for price to come and touch it and when its near it expect price to fancy fart around it for a while
trade trendlines when the market goes through the trendline with some speed then enter.
watch for trend channels and trade the extremes but enter with caution to spot the fakes/follow through
then i just watch the tick by tick, waiting for new bars to print....so i watch the how many ticks remaining.....idon't trade near new bars
i watch to see how many contracts go through within a small period of time to see if the market is trading enough volume to have momentum plays
watch for long term divergence on a higher time frame, if there is then don't trade until it has cleared
watch for dojis on a higher time frame and if there is one then don't trade that day
then it's just use your experience to tell when to get out of a trade
Trading only works if you have edge period. No one should complain ever about trading or the mkts in general. They are always right always evolving trading randomness is never easy
whatever the answer to your question is... I think it is definitely not "trade more contracts"
you already had enough leverage to lose 27k why would more leverage be the answer?
I am not as tenured as others in this discussion, but if it were me, I would simplify the strategy and try to trade less per day, with less leverage. Going for more points on less contracts helps me build confidence in my trade ideas, and also doesn't stress me out as much when it goes the other way. also I would only make one change at a time, if you change a bunch of stuff all the time how will you know whats working?
Hi
Hope you're doing better. Trading can be such a harrowing experience and also amazing.
While waiting for this US CLOSE short to come to fruition. IN the meantime wanted to say 7800t for day trading management seem very high. I use 15 second which is around 100-200 ticks. I found Volatility changes very annoying for the tick charts not being stable - so kept to time.
Are you trading at specific times around open and close?
Trading 2 hours at US open or US close session best imo. All the best.
This is your issue. Moving averages, head and shoiulders, candlestick patterns etc. They are not wrong BUT they are also not the way you want to look at the market. They are a CONSEQUENCE of whats happening. Sometimes they will work as they link up but other times they wont because 50 SMA or trendline was trending into a floor or ceiling / finished business.
I think you need to understand auctioning of price. Full auctions, Liquidity, Distributions, understand there are STRIKE OPTIONS trading and do all this at appropriate times. Market isnt 5/24 as advertised.
Thank you guys for all the replies, I feel like I am learning. A new thing i just figured out is that i lose money hard at the beginning of the month when volume is sporatic,....and then i try to make up for it the rest of the month. so im just not going to trade at the beginning of the month and see how well i do. everyone is different but i hope the rest of you guys are learning too....im sure some of you trade like i do haha.