Day 20 +4.9% Today's charts were really interesting. While all chart periods were leaning towards going bearish, the monthly chart was actually leaning towards bullish. Didn't do a good job managing the size of my positions but was able to make some money today. Very interesting to see which way oil will move next week. Will it move back into the 50's and stay there or will it drop back to 40's.
Is not backtesting such a big deal? LOL I've traded since 2010 via real accounts and virtual accounts. The methods I use are something I created that works for me, which is also why I have no problem showing my trading live as i don't think other people will be able to replicate it. While I didn't backtest using historical prices, I've tested my own methods hundreds of times and they seem to work just fine. Only reason I do back in real accounts is because im horrible at limiting losses. When I practice with virtual accounts, i make 10-20% a day, easy, and most days I trade are positives. In virtual, i exit in a split second i think something is wrong. In real accounts, I can't do that. I tried, but it's just hard.
If you're not financially up from the moment of this post, there might be some base assumptions you've made worth reconsidering. It's understandable to take calculated risks, to trust oneself, and go for it. However, if you find yourself in a hole, the not so obvious from the hole diggers perspective is to stop digging. If you have a reliable family/social net, then the cavilier attitude around your capital management makes sense for you to anticipate support. Perhaps you've come from a good background where the scarcity of money didn't effect you? The approach you are taking even if you were to pull a rabbit out of a hat will ultimately take you back to this edge of risk of ruin. The gambler's mentality is very seductive especially with early success. The thing that will be different is the amount of responsibilities in your life and the people who will depend on you. The hard lessons are the one's we create for ourselves - repeatedly. The easy one's are when we learn from others mistakes. One saves A LOT of time and frustration. This is your path, you alone must live with the consequences of your choices and actions for better of for worse. You alone must tell yourself the truth in a way that you can hear it. Scars are sexy, but not from someone who likes to play chicken with a bus. Forgive me if you've addressed these points in previous posts. With that said, I wish you the best and silently rooting for your success!
As a possibility, if you post a chart, you'd get some other perspectives that might illuminate your blindspot.
Day 21 +12.51% lots of small winners taken for quick profits that became a big winner at end of day. Traded 1 size most of day, except the last profit which 2 size was used. Trying to stay conservative and safe while trading.
Day 22 +6.67% Started the day off with -6% from the start because I placed an overnight position as I thought the chart was due for a reversal. Well, it went higher overnight but wasn't too worried as it still looked as if it was going to do a reversal. Only thing not satisfied today was even though I called a reversal and had a target point that was way lower than when I exited, I exited too early to get safe profits as I'm not always right. Well, I happened to call it very accurately and if I was to capitalize on it, probably would have made over 20% today. Still having trouble cutting losses short and lettings winners run. I think I'm getting the hang of it... yet another fail.
+6.67% for one day and you call it a 'Fail'!!!! I'll be glad to have that daily type of 'Fail'. I want to fail too...
hahaha thank you you made me feel much better. When i'm down i go down big as well so when i'm up, i try to get as much as i can. But yea, i would love to fail everyday too if it gives me +6% daily. lol
That, right there - that's why you shouldn't be trading with real money - let alone with borrowed money.
I'm not in a position to give you advice, but it's better to be happy with how much you have done than to be sad with how much you have left on the table.