$2,000 to $200,000 in 2020 at 2.00% per day.

How do you even tell if its range or trend. It's the holy grail. An algo will make money most of the time if you could tell it trend or range.

 

Going for a jog/take a day off/smoke some pot helps if the jaw is clenching and the head is tight

 

The 50 sma is my favorite indicator. If "flat" then ranging. ADX is awesome too for range detection, but I don't use it.

 

How do you (historically) deal with losing days?

Do you size down? Are you able to 'archive' them quickly and trade with a blank slate the next day?

You're still fat on profits, so hopefully, it shouldn't affect you poorly. But I know from my own trading that learning how to deal with those days is very important as I can get into a 'make it back' mindset that only makes things worse the next day.

 

those tools lag a lot by the time you have a signal trend might be changing. But it could work for the current regime which has huge long trends

 

I don't feel quite like this, but today was a wake-up call. LOL.

 

Speaking of the 50 sma, I use it on my fast entry chart, and my larger too. With time, I have been able to see the consolidations.

 

Great question. Because I don't have them often (recently) you've got me thinking. When I said "Tomorrow is a new day" I meant it on many levels. I guess I have been gifted with a great ability to "reset" overnight. But I know the reset is not 100%. But I would say I am at 90%... The next day I do scale down, I do a little more pre-market prep, and I am a bit more conservative on the frequency and the stops and targets.

I think the bigger question needs to be "How do you handle large intraday drawdowns?"

(1) I keep breathing.
(2) I eliminate all distractions.
(3) I tell myself that no matter what that the "daily max loss" is my friend and it will allow me to come back the next day.
(4) I don't scale way up trying to compensate. That is so dangerous!
(5) I may keep going all the way to the close, believing I will catch a break.
(6) BUT IF NOT, I remind myself that losses are part of the game, and that I will do better tomorrow.
(7) I post my losses here in my journal so I can debrief and get support from friends.

 

Thanks. I was just thinking that it was time for a bike ride! LOL, I haven't tried the pot. I am guessing CBD oil just doesn't do the trick....

 

Sounds good.

I hate those. Dug myself out of a hole today and ended the day in green. Barely.

Seems like you have your game plan down pat. Way to go!