no trade today, will run some errands late in the morning. still working hard on something. For the first time, I shut down the platform without regret. Isn't that something? Maybe trading is NOT gambling, if we don't make it gambling.
Did a neke move. Tell you this: it was horrible. Why did I do it? I must have plugged the wrong hole, because the leaking continues. Now I am going to plug THIS hole to see if it works. note1: Good trading is NOT a game of probability. note2: thinking in probability is stupid (Trading in the Zone is WRONG, in my opinion. You can't sue me, because it's my OPINION). note3: Get rid of the stupid idea of probability, totally stupid and wrong. note4: why did we believe what the stupid author wrote? He is not even a trader, he tells you about sports, running, and other irrelevant stuff. note 5: by the way, I got out alive, with $8 profit. But the few minutes between the entry and exit were horrible.
Thought about shorting in the morning and almost did another neke move. I shut down the platform. No more neke move! well, the fact is I couldn't find a short entry, so forget it. so no trade today (turned out the unexpected did happen, oil went back to 110, my condolences to all those who neked oil this morning).
2 trades, made $41. Did I miss the pit-open drop, yes. Why? I woke up late. why did I wake up late? same problem. then I did two fading trades, I wanted money and did it. I shouldn't do it, because it broke my rules. And I broke another very important rule, a rule written as a warning. I went against the warning, my own warning. then I didn't see many chances, so I shut down the platform. The drop afterwards is not my money. I need to work on my problem. I may change my opinion on probability.
Again, I chose the wrong day to hold. I shorted in the morning, and decided to hold, after checking the multi-day chart. I imagined that a serious selling would bring oil to 103-104 in the afternoon. The overnight drop did make it look very possible. Not to mess with it, I walked away. No stop, I didn't want to be shaken out. I went to work and came back with a big loss of $954. The trade was liquidated by the broker around noon time due to margin requirement. So now I don't want to trade anymore, this hobby is getting expensive, I have lost interest. I don't enjoy it anymore. Thread closed.
...wow giving up a little too quick aren't we XD You don't enjoy it because you lost money. If you just write a route plan and follow it, you could see some success. Trading is one of the most challenging jobs in the world. However, the rewards are astronomical. I never wake up not wanting to trade. Oh and NEVER start an account with less 10K. Oil can move $2700 in one day . Good luck, whichever route you take!
Treat trading like a hobby and it will pay you like one. This is a serious business and not a hobby. Another 'stat' for emg to hang his hat on - a hobbyist quits. Shocking. Hopefully this can be a reminder to all future hobbyists - trading is a real business w/ real people that want your real money as soon as possible. If you think you can play w/ the sharks and treat it like a side gig, they will get your money sooner or later. There is no kids table in trading - either you play w/ the big boys or you don't.
So true. Those of us who survived the early battles and now trade for a living day in/day out know exactly how to extract money from inexperienced traders, because we were those traders once. We've learned how to take the other side of our own prior inexperience. Most importantly, we've learned that when price throws signals that the relationship's over, we leave our egos at the door and settle up like ladies and gentlemen. The only people who win in a long drawn out divorce are the lawyers. If you are consistently losing money, learn to master that which you find most difficult to do.
you are right, if I had a bigger account, I would hold it for a few days. Shorting oil at this price has little risk. I never enjoyed scalping QM. The spread is typically 2 ticks=25 dollars, sometimes 3 ticks. To get in a move, I had to use market order, the slippage is too much. Scalping QM has been a pain in the ass. Any counter move would put me in a hole of 50 dollars instantly. I didn't enjoy it at all. That's why I hardly traded, some days I didn't even have a single trade. Using limit order is stupid. If I wanted to get into an on-going move, I never got filled if I used limit order. If my limit order got filled, it means I was in a counter-move. Countering a move is plain stupid. Those technical problems are sufficient to make people lose money. I did demo trading many times on QM, I just didn't make money, no matter what method I used. This was done without psychological problems, which are found in real trading. Anyway, my advice to anyone who wanted to trade QM is: Don't trade QM.