I know - I admitted to being a bad boy on that. Maybe it was the ghost of Gann who got hold of me this afternoon - or maybe it was my evil twin. No matter. Tuesday is another day.
Tampa Dont know what to say. We're at a fork in the road here. Dont want to leave you behind, bud, but Im tired of losing.
...I usually hide under the bed. After yesterdayâs debacle, some serious contemplation was in order. The only explanation is that I lost all objectivity. When I went back to look over the trades made, I was stuned â most made no sense what so ever! No doubt the objectivity was lost because I became angry at myself, and angry at the market â a bad situation. So I thought about it, and thought some more. I came to a startling conclusion. I have been trading too small. The individual trades mean little or nothing to me. I mean, itâs hard to get bent out of shape on a one point loss on a one lot in the ES. So while on the surface it may sound asinine, I might do better by increasing my size â I know, it flies in the face of all good thinking. Yesterday was not my first âblow-outâ. As a rule, I increase size the following day in order to âget evenâ. More often than not, I do. Why? Apparently I take it more seriously â duh. So I am taking it more serious this morning â five contracts at a time. So far: 4 Round Turns ( 5 Contracts per ) 2 Winners â 2 Losers +1 Point per Contract. Average Gain: 1.875 points Average Loss: 1.375 I feel a nap coming on â thereâs always the afternoon â unless the Commies take over and shut down the market!
Better to learn to trade with a one lot. Increasing your size when you've clearly shown that you're struggling is financial suicide. Sorry for the negativism but you need to come to your senses. OldTrader
tampa, you are doing what is known in the gambling lingo as steaming. Slow down, stay with one lots, work on your methods, analyze what went wrong. After one month of consecutive wins, go to 2 lots. Increase size slowly since the bigger the size the more stress. Take a day off from trading. come back and say I will only trade one lots for a whole month until the month is profitable.
Itâs hard to explain, and I suspect even harder to understand, but I really do better when trading size. Watching $50 fly by in the wrong direction is annoying, but... Watching $250 fly by gets my attention, and real quick... A $100 profit is nice, but... A $500 profit is something to write home about! Itâs all a matter of perception, and as we all know â perception is reality. To have strangers take the time to read this so-called âjournalâ is flattering. To have them go out of their way to pass along tips and advice is actually touching. And while I appreciate and understand the sentiment expressed concerning my trade size, I must respectfully disagree. ( Itâs always a pain when you try to help someone, and the jerk ignores you. Maybe I have some jackass blood in my vains. )
The worthless chart company, otherwise known as Q-Charts, did a swan dive at 2:15, and has yet to properly fill in missed data. (2:50) I guess I really, really pissed of Gannâs Ghost! Since complete data is kind of important to me, the wise thing to do would be to call it a day. For the Afternoon Session: 2 Round Turns / +4 points per contract. 2 Winners â 0 Losers. For the Entire Day: 6 Round Turns / +5 points per contract. 4 Winners â 2 Losers. Average Gain: 1.937 points. Average Loss: 1.375 points Total Dollar Gain/Loss +$1,250.00 Todayâs action puts a significant dent in yesterdayâs debacle. And while I understand that it strikes fear into the hearts of more reasonable men, increasing size helped me to stay on the straight and narrow. All trades were executed as per the rules, with one exception. In one of the morning trades I suspected that the market would run up more than my two point profit objective. I was correct, but failed to get a fill at the new target. Leaving me to settle for a quarter point less than originally intended. All in all, it was a good day that found me relaxed and more confident than I would have expected. Ithink that I am back on track, after Mondayâs derailment.
Good job today tampa. BTW, RealTick lost the ES data feed for a while at about the same time (though NQ was fine). Might have been a Globex connection issue for some of the data distributors.