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riskbiscuit

Registered: Sep 2011
Posts: 44

04-26-12 07:44 PM

I would definitely reduce the capital in my account. OR if you have a good broker you can ask him to have your trading size reduced so you'd be restricted to trade a number of contracts at one time. You're broker should do that if he care's about your account and not just his commissions.

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nursebee

Registered: Jan 2009
Posts: 307

04-29-12 12:36 PM

Changing account types and what not has nothing to do with the solution.

I would say you need to better understand risk management as it relates to position sizing. Van Tharp can guide you, as can others. I think the turtle books cover this, perhaps an ET sponsor could suggest the best book for this? If you fail to follow such precepts, by all means go see a shrink or get out of the game.

Risk of ruin is great!

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hajimow

Registered: Mar 2004
Posts: 2663

05-06-12 02:06 AM

I have a different recommendation:

Increase your account size. If you reduce it, then the mentality is that you can gamble that money because you have more to replace if you lose but if you put all in, you will be more careful.

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trader198

Registered: Mar 2010
Posts: 1229

05-08-12 03:03 AM

I have some plugins (I wrote by myself) if you are with IB.

those plugins can let you set up your position size or capital per trade, and the trade number limit per session. thus you can not cross the line or break your rule, after your setup, those rules can not changed until next trading session, if you do not do anything next trading session will keep the same rules for you.

the mimum rule enformancement time is 24hrs, i.e., after you setup, in the current session you have no way to change it . you can change the enforement time to 48hrs, or whtever greater than 24hrs (increased in days, not hrs)

just if you are willing to pay a premium

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Bison42

Registered: May 2012
Posts: 86

05-15-12 08:01 PM

Pick a couple stocks so you can focus on just them. There is too much noise out there to watch too many positions.

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