Awesome, Neke! You really have everything it takes to keep that kind of return going. Your mental toughness is always an inspiration.
Nice observation. It is frustrating when you make / repeat so many dumb action that negatively impacts your account balance. At such times, it naturally comes to my mind to go fully/solely automated. So far, the automated strategies, when put in practice, have only had mediocre results. There are so many aspects of my trading decision that I just cannot automate: price/volume data is just one variable that goes into determining a discretionary trade. There is no way I could have automated the shorting of EXEL on Thursday: it is driven on interpretation of news, and is not what a computer could do for me. What I have started doing is get alerted on possible automateable set-ups during market hours and making a decision to place the trades or not. I believe with so many of such trades to occupy my attention, I would not be unduly fixated on one discretionary trade that I want to be profitable to make my day/week. I really want my discretionary trades to come to me, and not me looking for them: there is always that subconscious desire that the next trade should be a home run, or at least should not be a loss. The result is trying to average down when it goes against me, and even if it eventually goes my way, I am only too pleased to get out at break-even. So the size of the losers outstrip the size of the gainers. I want to have so many automated prompts that I take with smaller size, and take the discretionary when the right set-up appears, instead of trying to force a discretionary trade.
great week and I hate to criticize but you are still shorting CME, do you know something we don't? This thing has been on a tear since the cds exchange thing was announced a few weeks ago. Anyway, good trading, way to come back.
Just curious, how much of your lifetime gains came from options?With that huge bid ask vig against you its hard to make money daytrading them
Reviewing some of your trade history at random, it seems your method does well in Volatile markets. Especially downtrending volatility. You also average down on your trades - with size. ie the more a trade goes against you, the more you add to the position. My theory, and I'm pissing in the wind here, is you average down and give the trade a certain time to move your way before taking the loss. In downtrends since the moves are faster, your time limit stop is not hit. I posted earlier that the holy grail is automation. More importantly the automation of the money management part. I normally don't give 2 cents about these "Journals". However I assume your posting trade history is to get some feedback.
Great thread... Keep battling Neke, this keeps me going when I'm on a bad week of trading. I can't imagine being down 100k, makes most here look like peanuts..
Just read through some of this for the first time. I was put off by the title and figured it was just another piker fabricating trades. A lot of people seem to have some faith in you, developed in what I assume was your last thread. Good luck neke, and let me say it's rare to see someone telling what seems to be the whole truth on here, especially about losses.