what a day ! i traded over night. got up to take a pee and put on a 3 lot in the mnq and BOOM! europe opened and i got nailed! was down 280 in 3 minutes. i traded my way all the back to day while buying the vvos ipo and i was up 100 % in the vvos ipo but i did not sell because i was busy but it closed up 50 %. I ended up in the SAC getting up to negative 5 dollars and then i ran it all the way back down again to negative 387! i worked my way out of that loss also and i am exhausted but i hit my goal of being in the green on friday! i hate being in the red friday!! I am up 4.12 net in the SAC today on a ton of trades!! i was down 387 then up 20 then down 467 then i ended the day with a net positive of 4.12!! that was a lot of trades but i started at 3 am!! and ended a few mins ago. I will post the ipo also..
ipo vvos i was up 100% at lunch but was too busy to catch it!! it settled up 50 % also bought prog up 20 % today!
I was wondering why you didn't post anything today. I got my answer: you were too busy trading that rollercoaster day...
A lot of work all day mentally for 4 bucks gain and what the hell kind of weird photo!!! Working on the sac. seeing tons of problems with risk control versus edge. Being down 40% to make 4% is not a fun way to trade!! There are many questions i am asking myself and my system. the answers sadly arent as obvious as the questions but it is start.
First I did not understand what are you doing in the micros with small account with such a good hit rate and edge.... What happens to your overall results if you put in a daily max loss limit ? Would it help?
That is the one idea that i have been grappling with all weekend. not kidding. Im too busy to babysit this account yet i cant afford to take on so much at times either and since i have an ability to dig my way out...usually..not always then think of the opportunity cost i am taking by holding onto losses for long periods of time when those time coukd be used to get more edge. if you have edge then trading more should multiply the expectancy by number of trades etc. so yes i am working on this idea of max loss. jt would not be max loss and quit. just max loss that i am comfortable digging out of and quickly. good post