Help! Death Spiral, need to pull out.

Discussion in 'Professional Trading' started by tds551, Jan 24, 2007.

  1. tds551


    So I was Mkt Mkr for a long time, on the floor. Took a few yrs off, now im trading off the floor. Totally different game, obviously. I was flipping oil and gld stock's well for the first 6 months, then i decided i needed a better plan and picked up the mini's. With help from a friend of mine, we have developed some great tool's and trigger's.

    My first few months i was trading too many product's, 2 or 3, and the lack of detail killed me with stops. Rarely ever wrong in the long term, but execution and trade management killed me. So ive eliminated almost all but one, and really almost programmed my plan into my charts. I get actually triggers, then all i need to do is some basic 2 step analysis of mkt internals, then execute. Trouble is, the window of oppurunity is so small, and im often hosed by a tick or two. Im down about 25% in 6 months, ive reduced my volume, focused just on one product (AB), and im still not cutting it. The worst part is, my plan gives me consistantly more winners than losers. Sometimes I get hosed by a tick, then reach alittle and get stopped. My parameters give me about 2-5 good triggers a day, if i stick to it. But I can't seem to.

    Shoudl I hire a monkey to just press the buttons?

    Someone told me to read "TRading in the Zone"

    Im just trading scared. (The wife, kids and barking dog dont help either)

    Thanks, any suggestions how to beat a slump would be appreciated.
  2. Go to and take the 10 day free ($10) trial. I think you and Alex will have a lot in common.


    widen your risk/reward ratio. your getting hosed because your targeted loss is unrealistic given the market being traded.
  4. If your strategy requires so little slippage that a "tick or two" kills you, this may not be an appropriate strategy for online trading. Slippage is, unfortunately, a universal constant in the online markets.
  5. Slippage is what moves markets. If unlimited quantities of buyers or sellers could be facilitated at a single price then the market would have a range tick.
  6. how are they similar?

    is alex in a "death spiral" or was he an ex marketmaker and if so was this his part time job prior to car sales and ginsu knives door to door? oph forgot to add cop and IRS agent!

    Seriously, is he really making money in the room??

  7. rwk


    Why fix something that was working? Go back to flipping oil and gold stocks. If it still works, up your size.
  8. Me thinks this thread is shill for pristinetick. they already bombed elite once, now they try guerilla tactic. note--person with problem comes on, then person from pristinetick answers soon thereafter directing person to pristinetick for the answers. we are dealing with desperation and frustration so be reedy for anything.
  9. There are a couple of other guys in there who are trying to transition from other types of trading and they seem to like it so I thought this guy might relate, too. The head trader has been in the market for quite a few years and had a problem making the transition too. He has made money every day that Ive been in there.
  10. BearBelly wouldn't believe in sarcasm, now would he...? :)
    #10     Jan 24, 2007