Regardless whether he is who he is, this happens to many. Our ego's takes over like we actually know what we are doing and yet we have not proven we can do this over 3-5 years. So many do well first year then quit their jobs and loss everything. My first year when from 5k to 103k in several months, soybeans in bull market, broker knew less than I did, had most contracts at highs, then in three days limit down lost 108k. You mumble, throw things, suicidal, think you are worthless, but it comes down to this, you lost cause you were greedy and not smart. Take Wheat market, you can dig up charts of this market going back into 1890s, not saying you have to do that much trading, but you have to have at very least 3 years to know what is going on so it has proven to have a history, so before you can increases size, you have to decrease percentages of risk. You have to keep back testing further backwards to understand where the drawdowns going to come. And you can go back 30-50 years in many futures markets, better you know where the drawdown might come in, at certain equity highs, you cut back size. Every 500k, cut back risk 0.1%, let the account grow and put steady size but keep reducing risk till you get to 1% or lower. Stop trading, go back to square one, we all know why we don't do well, has what you been trading entered chop? ES peaked May 2015, markets been having wide swings for a year, so is this why?
you sir are at the bottom of the sentiment cycle. I would say you are between panic and capitulation but fear not if you survive you'll climb the hill again. many of us have been there and for many cycles. you can survive this, just adapt your trading to the environment.
Take time off and allow yourself to assimilate & analyze the events then you'll comeback wiser and better. I'd recommend at least 3-6 months. Best of luck.
Risk management is EVERYTHING, not just trades with a specific R:R... taking losses without adjusting position size or cutting yourself off when the account starts to take hits or reviewing your methodology is all risk management. Anyone who makes millions and then loses it all actually just proves they were lucky on the way up or their system worked in one specific set of conditions and when market changed they leveraged up and got blown out. Same ol story.
Exactly my point...too many people saying cut your losses and let your winners run is the only edge out there! Been saying for a long time that market change recognition is very important!
Anybody that can turn 150K into 1.3 million in a year and a half can't be that dumb. That's like saying Germany almost dominated all of Europe because it was lucky. -- just doesn't happen that way. I think you know the answer by now on how to succeed. Weird post/person. What was your average % profit per trade, and holding period per trade? Did you compound that?
Hello, Have confidence in yourself. You can make money again. We all experience failures. Turn this failure into a motivating force. Take 2 weeks off. Come back,analyze what you did wrong and trade very small. May God bless you!
No, you are not alone. I smell BS as well... Traded for a minimum of 32 weeks before he stumbled upon and decided he should "Post" on ET. Ya, right... Skeptical is an accurate description... OP hasn't confirmed or denied he is actually Surf, if it isn't perhaps it is Q3D who recently vowed to leave ET after admitting his failure as a Trader. Timing fits. No doubt in my mind OP is a failed trader the question is which one of ET's finest and his/her agenda...