<b>Gutsy</b>, your journal here is a positive effort towards self-discovery. From what you share with us, you are a struggling trader with self-imposed deadlines to create success. Or else. Every person reading your thread either has or should have great sympathy ~ empathy for your plight. That goes without saying. But... the market is emotionless and absolutely does not care. All of the travails you listed as befalling you in the past few years are totally irrelevant to the markets. That won't earn you one dime of profits nor give one moment's break, plain & simple. * From what you describe in your journal, you have absolutely nothing positive in your favor specific to successful trading. A list of what you've shared: #1: Poor mental outlook #2: Poor physical health #3: Sleep deprivation #4: Numerous distractions outside of trading #5: Low capitalization #6: No viable trading method for success #7: Self-imposed performance deadlines #8: Poor self-discipline, trading and outside of trading The list could be added to, but that's enough. In all honesty, what can you add to this ledger on a positive expectancy side? You began this thread talking about how the professional trader let you sit in on some of his operation. At this point in time, can you aptly follow the approach he traded? Or are you basically clueless to what he did? Unless that trader mentored you in precise, detailed and extended fashion, your time spent with him was nothing more than entertainment. Unless you can replicate his methods for consistent success, what did you learn? ** Bottom line? We all would love to see you succeed. That goes without saying. Likewise, you have made absolutely no case for a glimmer of hope as a successful trader on the current path you tread. Holding a "performance gun" to your head on every trade you take loaded with bullets listed above will never allow you to succeed as a trader. Clinging to a false hope will only delay the inevitable failure. If you wish to succeed, you must stop everything you are doing now and change paths 180 degrees. This is no revelation: you are the first person to admit that in public yourself. I truly hope & pray you immediately stop your road to inevitable ruin, and rebuild your overall approach to life from scratch. Unless and until you do that dificult task, the end of this story has been written long ago. Very Best Wishes In Life, Austin
Thanks, I've thought about them before. The only area I still feel bad is that I didn't wake up while my daughter was being attacked. Since then, I sleep lightly and seldom get more than 3 hours of good sleep. I'm also a bit jaded about the courts. I still remember the judge saying "I can't give your family a order of protection. Another girl already has one against him. Do you expect me to ruin his life?". It was about all I could do to keep myself under control when he said that. I'm hoping that by just trading some of the emotions will be reduced. I'm also hoping that once I start going to a positive cash flow, my nerves will quiet a bit more.
I figured my odds of ultimate success at 100:1. Looks like you're taking the 100 side. The one positive I have is a workable and tradable method. Just because it's complex and can't be automated doesn't mean it's not useful. I also have stellar credit. I have a 50k unused line of credit which I could use for trading, but I'll only tap it after I'm consistently profitable. I'm certain I can achieve the 2k/month level of profitability with 2 ES contracts. Once I stop bailing on winning trades, I'm pretty sure I can do the same with 1 ES contract. I don't have a poor mental outlook. Just some anxiety issues that I'm sure others have faced. My trading has been net profitable since I started back in August and I'm hoping to achieve progress as fast as I can. If unsuccessful, that's ok too. I have a backup plan, and while it isn't great, at least I won't be checking out the local homeless shelter anytime soon. It should come as no surprise that I'm ignoring your give up and bail attitude to my trading. I've beaten 100:1 odds before and this is just another small challenge. Good luck to you in your life as well, Gutsy
<i>Once I stop bailing on winning trades, I'm pretty sure I can do the same with 1 ES contract.</i> Yes, trading really is simple as that. Hold the winners fearlessly (dare I say, gutsy fashion?) and you will reach every financial goal in mind. All you really need to do is stop bailing out of productive trades while keeping normal losses contained. The very moment you accomplish that, methodical trading success is yours forever :>)
the buy setup is internals going down and futures going up. the rationale is institutions buying futures before they buy their intended basket of stocks. why don't instiutions wait until the end of selling and let the futures price drop and then buy them? thx. all the best.
You're doing well. Maintain your discipline and one day you'll look back and wonder what the fuss was about.
Gutsy, since you are doing such long hours, why not trade the morning and ride as best you can your positions until lunch time. By finishing early, you can get more sleep and this will help you tremendously... Sleep deprivation seriously affects performance in any field, let alone trading futures... and I know this from first hand experience - have been a light sleeper for many years... Cheers.
the fx account margin requirement is minimal........demo trade.......use your eyes ........go with price direction.....too much thinking......jmho.......best wishes no more posts from me......