It was a tongue in cheek comment guys. Just saw that a while ago, and then this thread in ET. Couldn't resist. After all, it's started by a guy named sir_jack_a_lot. The methodology seems to consist of yoloing 100% of the a/c in one trade after another. Might be a fun side project in the new year
Yes! I read it. $35,000 to $8,000,000 in 21 months going all in, single name stocks, shares only. No options. It does sound fun! I have three accounts at Think or Swim. Maybe I take $10,000 or $15,000 in one and see what damage I do to myself. Will you start the thread @DarthSidious? You only live once!
I might do it, but I doubt I will be posting it. But if I do, and luck out, I sure would post the receipts but if you don't hear from me, probably means the side a/c went to zero. I wish everyone luck including myself. Just don't do it in your main a/c lol Edit: This is probably the reason it won't work. The chances are very low, but a willingness to gamble everything you got seems to be a requirement
Todays performance I would rate today a 5/10. I did not have the money in the account until 12:30. I do not usually trade between 12 and 3. I took some FOMO trades as I was excited to get funded but got chopped up. I lost every trade I took and then missed out on the great short opportunity at the end of the day. I believe I burned all my mental capital and was trading from an emotional state where I was scared which caused me to hesitate. What I did do well was not take more trades as I usually would in order to make back the losses and I stayed consistent with my risk. In the past I would size up and try to make everything back which would cause further loss. I also stuck to my stops and I am proud of that. The first 4 trades I took should not have been placed and I broke my rules. The 2 towards the end of the day are typical losses I take with my strategy. Patience in sitting through the chop would have helped me be less emotional and I would have been able to see the market more clearly and hesitate less. Off to a poor start BUT I most certainly have done worse and will do better. Looking forward to trading tomorrow and hope it will be a better day. Day P/L: -5% (ouch) Week P/L: -5% Inception P/L: -5%
Indeed. That is kinda the @volpri method. But he usually does it with a reversal IIRC. You must have a bias, and it looks like you stuck to it. This is good. Next time, don't be the Volpri. Just be yourself.
Yes I am working on being more objective and not taking losses personally. The low volume chop should not have been traded and that was my downfall today. My triggers did not have the follow through I like and that is why I stopped out. I am happy because in the past on days like this I would lose more than 15% of my account trying to call reversals and averaging down. The market did act unusual today in my opinion. It was very slow until that huge move at the end. I hope tomorrow we get more movement. I know some rebalancing happens at the end of the year and blah blah blah. I try to just focus on price action but I know last day of the year can be a big move.
I would be in there dude with you on a bias, but I closed my last trade the other day and said F-it, because I did not want to get caught in a trade that would show an open position at EOY. Just a niggle in my head. That is sticking to a self-imposed rule. It is following a plan. And you did the same thing, so you are on your way. I look forward to seeing how you make the monies, Lebowski, next year!
Good call on closing the trade, hard to hold stuff for very long this time of the year. Rules are key IMO just need to find a way to follow them... lol. Enjoy the time off dude.