ummm.......yeaaaaaa see, what had happened was.....................ah fuck it. I'm just another statistic of the 95% (or was it 98%?) of retail traders over long span of time. You either admit it or live in the delusion that you might have a chance. Yea sure, could've traded smaller and survive longer or trade like me and die quicker lol. Either way, we'll end up at the same spot in the future anyway statistically speaking. Like i said in the beginning, I'm not going to put anymore money into this like i did in forex. 10 years of deposit/withdraw cycle netted me just 50k at the end; but that really translated to jut few $/hour over 10 years. ANYTHING would've been more profitable besides trading. I don't think trading in private would've made a difference. That's like saying people who don't post are successful? or trading smaller size? really? that gives you an edge or illusion of an edge cause you're going down slower? most traders lose..that's what it is. those that claim otherwise are probably in the same boat i was back in june. Recency bias is a bitch. Anyway, will continue trading this meager account and see what happens. as long as this account is tradeable, i'll update it. if it blows (<$500) then that is it folks.
And here we are, exactly one month later. https://www.elitetrader.com/et/threads/joining-the-cme-gang.334231/page-2#post-4892915 I knew something looked familiar in those patterns. Get to the micros ASAP. I will grant you this...this is the volatility we saw 18 months ago, and it has been a brutal ride. Keep it simple, keep it small. Your honesty here has been very very refreshing, it is a rare thing. Kudos on that, for what it is worth.
C'mon, you were massively over-leveraged. Your risk of ruin was 100%. So basically we were railbirds watching a guaranteed blowup. But of course you're correct... as everyone who trades risks their entire account or they have no edge. Cognitive dissonance.
Huh? The guy is a fucking train wreck and you're applauding this? TBH, I hope he does throw another $25K at it and I can watch The Final Chapter.
Agree, maintaining a journal is hard work and time consuming. It starts off with the mentality "sharing some ideas" but often end up "defending your strategy & mentality" when the market applies the blowtorch to your ass. I enjoy writing algos, been doing so for years and I recently created one which is totally contrary to all my previous trading beliefs, but decided not to journal it, creates too many issues imo.
I am not applauding the train wreck, I am applauding the honesty of his journal. As I have applauded yours. Certainly that has been lacking here on the forum, yes?
He's a cautionary tale. So he's honest and B1S2 is a fraud. He's intellectually dishonest but didn't lie to us about his blowup. Great. Nothing was gained if nothing was learned.
Welcome back and I'm surprise about the psychology tone (cognitive dissonance)...I seduce a woman once with those words. It was in grad school and she was working on her PhD in psychology. wrbtrader
The volatility has been a painful lesson for many and I suspected it was going to be the joker card in the deck for any one that played with poor leverage or poor position size management. I've seen others do much worst recently in the recent volatility movement. Volatility is seductive...it grabs you and makes you do silly things. Many will try to trade it with hopes of a big pay day. Volatility reminds me of Salma Hayek in the movie Dusk til Dawn. Not sure what adjustments he used and if he used those new adjustments for his most recent trading day after he stated he would try to right the ship. P.S. Volatility (a.k.a. Salma) turns into a throat sucking vampire (not shown) at the end of the exotic dance. wrbtrader