IMHO - you're better off taking a week or the rest of the month off and clear your head. Start again with a clean slate. Don't start from trying to make back what you lost. You're basically repeating the patterns from the past. And now you're taking money which you took OUT of the market and putting them back in the market at risk in order to make back what you lost. And with the high risk profile you're obviously running it's quite likely you're going to lose them as well. We all know only too well how things end when we try to make back our losses (quickly).
Sometimes its all about the timing. Thus, now is a good time to take a break because volatility has done that 1 - 2 day pop back up above the danger area and will again mean revert back towards its average. Thus, is when aggressive high risk trading does poorly...higher risk for account blowups. At least it give him some time to take a mental rest from the markets. Use the time to hit the gym a little more, tone the muscles and let the dividends work a little longer without dipping into it. Gotta stay the course and keep taking money out of the day trading and putting some of the profitable trading days into those dividends...the money remaining will slowly grow the account back to its prior glory instead of trying to do it all in a few weeks. That dividend portfolio helps minimize the risk of ruin. Without it...its just gambling. wrbtrader
Thanks. I'm a big fan of movie music themes. I have a rotating CD collection of movie music themes plus other motivational music that I listen to while trading. I usually open my trading day listening to this... wrbtrader
Unofficial loss of -48k. Will withdraw some to just start at around 50k even. I did learn few things about market structure on how it affected my overall strategy. Pretty much nothing will change going forward, except for very minor adjustments due to volatility . Risk profile is still going to be the same going into next month until I crack the 100k again. Yea, yea...i know; it's not kosher money management..but i'm confident in the strategy. that's all i can say for now. Bright side is, i'm still up for the year and still net negative in transfer lol And as stated before, this month i had to pull from my personal equity dividend fund i started few months back. This did break my heart a little, but i feel like i want to put this on the back burner for the rest of the year until i can settle on a lower risk profile for my trading. But the whole experience with trading for dividends and first time earning premiums this month is very motivating. I have a plan to earn the premiums around ex div dates so i can take advantage of both . So this was a good learning "see it to believe it" experience.
official number -$46, 760 Going forward i'm going to register my trades through sierra charts, until i get about 50 sample size or so. Want to track some numbers as a result of the minor changes I made and see how it compared to previous months. will share that end of month as usual..
This week was a fuck up. Nothing to do with trading per se, I didn't realize Amps margin had changed. Couldn't recover from a down day. I was pissed that I didnt see any email about the change. From now on, I will check their margins page before every session! Now with 8x margins overnight and 2x day margins, gonna be making peanuts for a while. I think it will be high going into November.
hilmy83, Ever since 2008 global financial crisis, a lot of brokers freak out (change margin requirements) on the fly even due to none market events because they're expecting crap to hit the fan. I've seen more email alerts about changes in margin requirements from my brokers than any other year that I can remember. By the way, I use two different email clients...I get emails with trading statements from one broker but a different email client will not receive the same email with statements from the same broker. Just as weird, I do get emails from my brokers about other issues. My point, there could be a problem with your email client that's allowing some emails from your broker and not other emails from the same broker. wrbtrader