No one cares. I already know. However this will be entertaining. I took a massive hit on that POS CROX after one of the biggest runs i've ever had. After finally making it into the next stage of a 75% daily track record using a new system I created, I take a fucking long-term position on CROX and nearly blow out my damn account. But aside from that... Unfortunately I just put myself in a situation where I need this money back. Anyways, the system's semi-proven (30% profitability over 4 weeks of trading. 22 days of trading. 16 gains, 2 even, 4 losing days. I believe I stood at about 300+ trades when it was all said and done). However I lack the enthusiasm to go forward, because from my calculations it will be another 2 months to get this bitch back to where it was (and it was a pain in the ass all the way). I figure why the hell go through with it just to lose it again by taking another dumbass position. HOWEVER, I want to return something to all of the guys whoâs had hard-earned money taken away. If this pulls through I will present this system for free (every detail) in this post. I want to know for SURE I can teach this system. Thatâs the only reason Iâm doing this. Hopefully this thread sparks some much needed enthusiasm. The daily goal is a 4%. A 10% stop will be placed as a daily MAX loss. My goal for the 2 month period is 100%. My account value is rather small, so slippage shouldnât be an issue. Some tidbits about the systemâ¦. -Manual order â Intra-day timeframe -Dual moving average (important) -Custom stop-loss setting (THIS IS THE GOLDEN KEY...what makes it a winner) -Custom buy/sell entry points Anyways, the daily post will be rather simple. Daily Gain (%). Win/Loss ratio (overall) and Win/Loss ratio for each stock. Separately will be MAX $ LOSS/GAIN for each stock traded as well. Best of tradingâ¦..so it begins. (PS...this also works for ES...mainly what it was designed for, however I think the ES leverage will get the best of me this time so im doing it in equities.)
I took a few hits recently after a long winning streak. I totally undestand what you mean, I feel like I am wasting time trying to gain back what I already had and that I may lose gain. If only I could make my method automatic so that I won't have to spend too much time on the market... It should take about 2 months too for me to get back to my all time high. Anyway good luck !
If you managed to get a 50% hit in one trade, your golden stop loss must be enormous and perhaps too risky to make trading comfortable and / or viable. I If you are dissapointed with the results, will just get worse if you feel youre trading with a gun pointed at your head. Make no mistake, If you trade a system that has even the slightiest remote infinitesimal possibility of tanking your account in only 2 setups that went against you, you are asking for failure one day or another. and the later it happens, the more dissapointed youll be.
That is the risk of holding the trade overnight during earnings. I got hit too in VDSI. So either i get out during all earnings annoucement, or continue to be the punching bag. Another thing is : recently the market has changed, i used to hold overnight since i am a swing trader. And it worked well until recently.
Why don't you explain to all the "simple folk" why a person uses a 50% stop loss?! And why don't you give your "golden system" now so people can evaluate (read: trash it) before you risk all that money.
I may be wrong, but I think people have understood it wrong. He didn't say he had lost 50% of his account by one trade from his system, he said he made a trade *outside* of his system (presumably a long position without stop loss at all) and lost 50% of his account. Having a system and trading outside of it is asking for trouble, which is exactly what he got.
"Anyways, the system's semi-proven (30% profitability over 4 weeks of trading. 22 days of trading. 16 gains, 2 even, 4 losing days. I believe I stood at about 300+ trades when it was all said and done)." The problem is the statement above. Only 22 days of trading? Semi-proven? Unless there is more to the story, you shouldn't be risking any serious money on this "semi-proven" system. A lot of people that believe they have found a "system' rationalize it like this: It shows significant profits, 4% per month, and will turn $25,000 into a million within 8 years. But due to some unforseen event or my trading outside the rules or I misinterpreted the signals or any other rationalizing you can think of, the system suffers only (1), sometimes (2), 100% drawdowns! :eek: Joe.
<i>Unfortunately I just put myself in a situation where I need this money back. However I lack the enthusiasm to go forward, because from my calculations it will be another 2 months to get this bitch back to where it was (and it was a pain in the ass all the way). I figure why the hell go through with it just to lose it again by taking another dumbass position.</i> With that attitude, you have absolutely zero hope for success. First thing to change immediately, right now is your mental state. You already know that, of course. Once you adjust the mindset, time and mechanics should take over. Trading is often difficult, tedious, laborious and frustrating. Once mastered, it is also the highest-paying profession any of us here qualify for. Unless we have some professional athletes, musicians or actors in their prime lurking amongst our midst, successful trading is the golden goose.
So you loose 50% and people call me an idiot? Sorry about the loss, but that is stupid. Unless there is a 2000 or 1987 type shakeout there is no excuse tio blowup.
Your time will come young Obi Won. CROX is a good example of what happens to momentum stocks, which is what your total portfolio is.