Not poking fun at ES's expense and not following his trades blow by blow, just playing devils advocate if I may use that word, it's healthy to question from time to time all our institutionalized thinking.
I'm grateful to live in an era that allows me to automate. Nowadays, I get ZERO thrills from watching price fluctuations. If I traded during the pre-algo era, it's doubtful I would have tolerated the pit trading environment, and cesspool of human filth within it. Life is too short
ES If it makes you feel any better, I just lost 3k within 10 minutes. Hopefully in some form, you're counterparty to that. Good luck
Am trying harder to make changes from outward anger in my life and directing it towards those who take other side of my trades, seems to be working as life starting to become more calm. So more aggressive of picking off weak hands and making extra tick or two off them. Am trying to increase my weekly average net trade amounts in scalping. But there is just so much one can do when doing automation. Always give and take, try to collect the "mean" always means getting less as in more filters, less opportunities to get more or take more trades. Posting times may help, as those who want to help you can make comments of what they see and then you have added information to back test. It always the little things that can make biggest changes. Forgot where I read it, but difference between losing trader and breakeven trader is 1.5 trades they should have not taken per day, so in your next quest, how many patterns have you discovered that will halt you taking normally viable signals? So what in recent or long term past can you identify to "skip" next set of signals?
Thanks, very interesting insight that just avoiding a trade or two in a day can make a big difference in overall results. I will keep that in mind in analyzing my sim trading.
Most will view your post as hogwash, but most believe in American way of more in better, but in trading, less is better. Too many people believe they have to work all day & take many signals to make huge sums, but what they need is to make consistent low losing percentages and drawdowns. Netting $62 bucks each day times 10 lots times 240 trading days is $148,800 a year, but to net $62, need to make between $100-125 a day to iron out losing days. When one gets very consistent, add size.
Right about now, I'm questioning the futility of endeavors/statuses society attaches meaning to. Lately, I've been posting here, for the sake of posting. This overconsumption of technology doesn't feel healthy. I'll try to permanently retire out of here (again) and hit the waves for a few weeks. Hopefully some shark(s) will make a good meal out of me. I wish you all good health and fortune
I agree 100%. This is also how many of the 80s/ 90s pit traders played this game... come there in the morning, make a few ticks with big size, then go home and enjoy the day. https://www.elitetrader.com/et/threads/pabst-questions-regarding-pit-trading.71503/ https://www.cigaraficionado.com/article/hedging-stress-7471
Start: 09/17/18 Monday $25,000.00 09/21/18 Friday $24,873.20 -$126.80 (1st week aggregate loss) 09/24/18 Monday $24,908.71+$35.51 09/25/18 Tuesday $26,105.62 +$1,196.91 (4 trades - 4 win, 0 loss, 0 scratch) 09/26/18 Wednesday $26,164.00 +$58.38 09/27/18 Thursday $26,247.86 +$83.86 09/28/18 Friday $26,510.98+$263.12 (12 trades - 9 win, 2 loss 1 scratch) 10/01/18 Monday $25,900.09 -$610.89 (14 trades - 0 win, 10 loss, 4 scratch) 10/02/18 Tuesday $26,032.22 +$132.13 (8 trades - 6 win, 1 loss, 1 scratch) 10/03/18 Wednesday $26,582.03 +$549.81 (21 trades - 18 win, 0 loss, 3 scratch) 10/04/18 Thursday $23,939.60 -$2,642.43 (12 trades - 3 win, 9 loss, 0 scratch) 10/05/18 Friday $23,019.14 -$920.46 (23 trades - 20 win, 3 loss, 0 scratch) (ll Gauntlet Expires: 11/16/18 (30 trading days left, money left to earn : $4,480.86 )
Currently, I do much better in Cash Spot Forex than I do in Futures: https://www.elitetrader.com/et/threads/a-truly-amazing-ea.325500/page-3#post-4740061 Today I traded the Bonds (I am encouraged that I can do much better than I did today). Folks I have written this Gauntlet off as I will never get the funding offer that I wanted, even if I double the money. However, I will continue to trade this Gauntlet until I cannot anymore. I need the screentime. If you have any questions about the Earn2Trade education and potential chance to trade an account...just ask...Do Not worry I am fine and not jaded. I am used to losing. ES