That is OK, you have no obligation to explain to anyone. I was just quoting you. I figured that meant you had up and down days but came out $1K/day.
I can do one better than that. I know the sound of a pile driver when I hear it. Remember this sound?
I enjoyed Surf to a point, but let's not get sentimental and forgetful, the guy couldn't lie in bed straight.
I hear ya bro. I couldn't believe it. I had a 30 pts open profit in NQ! Gave it all back and only net 4 pts. All because of the Fed minutes came out. It tanked . I had been shorting earlier but i figured it will continue to trend down. It reversed. I should have covered earlier! damn it! NQ is a tough one!
https://www.investing.com/economic-calendar/ Take your profit. I have an options trade which can return 100% sometimes, but consistently returns 25%. I take my 25% profit and move on. If I want to aim for the 100%, I would classify that as a different trade altogether.
God I hate NQ! Just lost more money! Never made money on it! What little profits I had turned to a total loss so quickly! fck! Trading NQ gives me the kind of MISERY that's unbearable! Yet every once in a while I trade thinking I can catch a trend. Then it reversed so fast! wham! gone all the profits and some more. @Overnight Tell me NEVER to touch NQ! Or if I have profits take it and RUN! If I just net out ALL of my NQ trades I would have added way more to my profits. My gains in NG are taken and eaten away by stupid trades in NQ. It's hard to short NQ and hold. You gotta be quick. Unless it's a super down trend day.
That works only if 1k days and loss/flat days have a 1:1(or better) ratio. Further you must adhere to a pre-calculated max daily loss or you immediately negate a possibility of a 1:1 ratio. How would your idea pan out with CONSECUTIVE small range/low volatility days? Not directed at anyone, but the stats and mathematics of one's dreams versus the numbers and stats produced from actual trading are separate things! So many folks here have analysis overload!! Worse, analyzing and coming up with "solutions" to problems that have no importance! It was listed on every economic calendar out there. Some even with a rank. IOW, potentially of critical importance to the market. Make believe is never a losing trade or losing day. Maybe a mental shift from "if only" to "what if" would help. Speaking of make believe... The Wizard of Oz movie is 80 years old this month!! What if you heeded, and traded your observations?
All valid and good points! Lately, on positive days I'm making $1K+ on down days I lose about $200-$700. So my losing days is roughly half+ of my gains. This is what I want it to be and not out of control. The last out of control loss was with GC several weeks ago. And I have stopped trading GC. I mean I scalp here and there for nominal gains and trading "feel" experience only. For the math to work out, on winning days when I'm "on" I have to gain way way more than $1K! Right? I think I might even push for $2k-$3K if I can swing it. So I can average out the losers and flat days. Because I do have cluster or sequence of days with flat(make nothing) or loss ($200 to $700 loss) that would push my average down. Wow. This is not an easy gig. So mentally, my losses feel more exaggerated though on a numerical basis they are not that bad anymore. I feel more frustration than actually warranted because I thought I can trade every market conditions. I'm not there yet as a trader. Interim solution is to stay away and avoid losses. Until I get good at recognizing different market conditions and applying the right strategy.. As to low volatility and small range days, I'm going back to the drawing board to expand and revise my strategy to account for those days too. In fact, it's only my false assumption that it was low range yesterday. There's always at least ONE good push/trend every single day. The trick is to recognize it and participate in it. On small range day I can buy at the bottom of the range flip it out at the top of the range. Do that all day long and it can add up to nice profits. I've done that in the past. But the trick is in recognizing what kind of day it is. So it's all about getting better and expanding my toolkit! Recognize rangebound day and trade accordingly. So, it's all MY FAULT. I need to get better as a trader. Progress is OK but there's always yet another problem and issue to solve or get better. The learning curve is steep. Yep, my bad. I should have known. But from a pure chart analysis, it went down so much I should have covered! I thought the trend was still down but it can reverse very fast. I should know better since reversal trades from the bottom are my favorite and best performing trades! A taste of my own medicine. I can stop trading NQ period given the stats on my trading performance on this instrument is poor. Perhaps all of this is happening so that I can address my weakness and improve.