Another Example of How Not to Trade

Discussion in 'Trading' started by Flashboy, Jan 13, 2004.

  1. Just want to show another example of how emotions can get in the way.

    See the attached chart.. I got short the ES @ 1124.50..

    Got nervous and exited the trade while watching every tick of the screen.. as you can see the trade only went 1 tick against my entry within the 1st 2 minutes and never put me in the negative after that..

    And this type of trade I know from my testing and my rules will usually have a big move down.. as it did..

    The reason for the extreme emotions is due to a very low account balance..

    I will get this before its over with.. Just hope I'm still young enough to enjoy it..
  2. nkhoi

    nkhoi Moderator

    ahem! better luck next time :)
  3. H2O


    As long as you don't lose while you're learning your lessons I don't think you're doing anything wrong !!!
  4. I shorted ES at 1027.50 this morning but got out at 1027.00 :(

  5. Ditch


    Imo, you've got what it takes to be succesful at trading. Is there no way you can improve your funding?
  6. Flashboy: Knowing your trading schematics/structure were right should encourage you! Most guys don't get even that close to trading well.

    I am just now learning candlesticks, but it seems like you got that type of trade down pat. Any way you could teach me it?

    Example of bad trade: I shorted a .com in '99 at 13, watched it climb to over 28 (on its way to 100??!!), covered at 28-3/8, just to watch it move up 1/8 point more (after I covered, of course) then tank to around 6. It later got delisted.

    Total loss: roughly 75% of my principle (Elder wasn't around then).

  7. Thanks Ditch,

    I know what to do to be profitable.. I am just having trouble executing properly..

    I haven't decided yet about refunding.. I have some expenses coming up I need to cover first.. then maybe..