Day #6 Didn't sleep well. Traded a bit until Unemployment. Not going to push anymore as I'm not 100% Nice Day though. Wish you a nice RTH 9 Days 2 Go
I really enjoy this NT Widget. It's sorted by net change, tick value wise. IMO it's more meaningful than Pts or Pct change. Well done NT ! Might try to trade what's in Play, Instead of ES only ... Let's see If you guys have any advice about it. I am all hears ! What, Where, When, Why
Some words from Jimmy Jude Wait. Wait. Wait. Wait. Wait, Slam it with huge size, Do not freak out, Stay in control Squeeze it, Walk away.
Profitability is about Win Rate & Reward to Risk. If you’re trading against one of them, Then you’re being unprofitable. If you’re trading towards both, Then you’re being profitable. Size up your edge. Trade small with a little one. Trade bigger with a greater edge. Avoid mental roller coasters, Focus on your processes Detach from your PnL Like a professional, Be prepared to perform at your best Psychology, Physically, Strategically, Tactically This is no bullshit, If you have behavioral issues, You won’t reach the top 5% in trading. Or anywhere else ! That’s what it takes ! Work on yourself first. Discipline, Courage, Perseverance … All those things that make a top performer. They say trading has no transferable qualities … That’s because they didn’t dare to learn. They thought it was drawing lines, Or being a lazy rich quick. It’s about becoming a better person Which is a very useful skill in life. God Bless You
Day #7 Wanted to Buy GC but kept with ES Bought thrice around 4153 One sold @ 56, One Scratch, One sold @ 54.5 +200$ Net 8 Days 2 Go
Just listened to Brannigan on Axia Futures, He talked about 11 Habits of successful traders One of them is “Risk Warmup”, You don’t start the day with your full size. Reminded me of a FutureTrader71’s talk on risk. He introduced the concept of intraday margining. My interpretation of this … 1. You need to know your maximum size 2. Define your Maximum loss & Minimum profit 3. Current PnL which is within above parameters Let’s say your maximum size is 10c Your Max loss & Min profit are 1,000$ Based on this (Proprietary ) formula: (Max loss + PnL) / (Max loss + Min profit) x Max Size If current PnL is -500$ Your size should be 25% or 2c (1000 + -500) / (1000 + 1000) x 10c If current PnL is 0$ Your size should be 50% or 5c (1000 + 0) / (1000 + 1000) x 10c If current PnL is +500$ Your size should be 75% or 7c (1000 + 500) / (1000 + 1000) x 10c If current PnL is more or equal to +1000$ Your size should be 100% or 10c (1000 + 1000) / (1000 + 1000) x 10c The goals being: - To avoid hitting your max loss with full size - To trade less at your worst and more at your best
Day #8 Being above 1,500$ profit, I am allowed to trade 4 contracts. Doesn’t mean that’s what I’m gonna do xD 7 Days 2 Go