From Micros to Millions: 2% per day

LMAO hahahahahahahahahahaahah that's funnyyyyyyyy.

 

I try to battle her, and sometimes she wins. Sometimes she loses. Eternal struggle. There's music for that. (Of course there is, Overnight. *sighs*)

 

Sad to see this journal end again sstheo, but I'm sorry to say I'm not surprised. You're trying to make lightning fast decisions but have, from what you stated, a 10 step process of analysis before entering a trade. Of course I realize its not like a checklist, but its exhaustive. With this many things to look at, you will never get all of them to line up.

Here is an example. I looked at cumulative delta in the past, and after your journal decided to look at it again. Sure enough, same thing was pretty obvious. Half of the time, a divergence between the CD and price led to a positive trade, and half of the time, it was fake. What I mean is price is climbing nicely to some previous high, but the CD just isn't keeping up. It seems like not enough trades on the ask, so no buying aggression. So then you think, ok, its gonna drop on a test of the high. And yes, half of the time it did, but the other half of the time, it blew right through the high. So CD gives confidence for some trades, and keeps you out of others that worked. Or, gets you into trades that don't work, but sometimes keeps you out of trades that fail. All in all, its a 50/50 toss up.

Same thing with multiple markets. Sometimes when one is weak, you're scared to take a long in the market you are trading, and this either means you miss a good trade, or are lucky to not get into a losing trade. But once again, a 50/50 proposition.

With your list of 10 things you watch, its like asking 10 other traders if we should go long right now or not. You will get varied opinions, and then you're stuck trying to figure out whose opinion is worth more. My point is that its far too much information to process and mostly useless.

You end up suffering from paralysis by analysis. You're about the only trader on here who seems to quit when they are doing well. Most quit when they run out of money or suffer a bad string of losses.

In some ways, I'd like to say that all you needed to do was just to keep going as the stats speak for themselves. But we both know that you were a train wreck waiting to happen because you can't trust what you're seeing or trust yourself. You probably know its all far too complex and the wheels will fall off the truck eventually. You're putting too much pressure on yourself and aren't comfortable with the losses. You're chasing a high win rate, but I think the real mastery in trading is accepting a decent win rate and accepting the losses, but knowing that the next trade is just around the corner.

You're operating like a race car driver who can only focus for 2 hours going around the track several times a month as opposed to a bus driver that can put in 8 hours shifts many times a week. If you don't simplify and get comfortable with so/so stats, you will never be able to scale up. Heck, even the way you say you're allowed to trade up to 7 contracts or whatever is a joke. You're spreading the contracts in multiple markets because you don't have the confidence in your trades in the one market. To me, its a total crutch designed to make you "feel" good, but all it really does is hold you back.

My suggestion, trade just one market to trade, and cut down what you watch. The stats you produce here will give more confidence to scale up contracts in just that one market. Since this is what I think is your ultimate goal, this will be the shortest path to getting there. Multiple markets and 10 trade criteria is like going from LA to NY, but flying the wrong way around the world via the Pacific ocean, then over Asia and Europe and finally the Atlantic ocean.

 

Hello sstheo,

You should do exactly what you stated. Set and forget, and when it get there near PT area, manage (in an objective repeatable fashion) the trade for more profits if you like.

Just my opinion for you and something that helped me, watch the video below. One of the best video I seen on youtube awhile ago. I really like how he talks alot.

 

As a race car driver, you have given me lots to think about while I am in the pitstop...

 

sstheo don't spend too long in the pitstop, there's a lot of people on ET that want to watch you racing around the track.

 

Perhaps he isn't quitting when he quits, but refining. He seems to improve each time he comes back.

 

With all the talk about the siren song of the funded futures accounts and the monthly cost, has anyone successfully passed the evaluation, ever successfully draw say $20,000 to $30,000 at one time on the fourth month when the $1,000 withdraw limit is dropped? Anybody been with LeeLoo for over a year?

Thanks