Friday 26th Sept 5 trades, 5 loosers Net (344$) (loss), Trading 1 YM contract, Account balance 1963$ SIM 1 trade, 1 winner SIM Net 485$, Trading 3 YM contract 10 signals 3 taken 2 pass due to loss protection 1 taken on SIM 1. Signal Missed (winner), was not at the computer 2. Signal Looser SL 3. Other Looser SL Misinterpreted signal 4. Signal Pass due to volatility (winner) 5. Chaser Looser SL 6. Signal Looser SL 7. Signal Pass (BE) 8. Signal Pass (Winner) Continuation signal from prior signal 9. Signal Looser SL (Techincally BE) Failed to move stop to BE. 10. Signal Pass Loss Cut-off (winner) 11. Signal Pass Loss cut-off (winner) 12. Signal Winner SIM Good: Signal potential and directional bias BAD: see below Identified problems: 1. Bullish entry signals are not clearly established, some inconsistencies to be clarified. 2. I am not "tuned in" for bullish markets with this system. Prior sim trading lacks sufficient experience of bullish market conditions. 3. System does not take advantage of identified strength if initial signal is missed. 4. My personal comfort zone is stronger to the downside. Need particular sim-training to counter-balance this. 5. Too tight Stop Loss for market condition. 5point extra would turn "bad entries" into big winners 1, 2 and 4 results in poor confidence/fear of loss, at execution time. A slightly wider stop (point 5) would actually make this quite a good day. However there's no looking back. My trading is flushed with issues for improvement beyond that. ------------------------------------------------------------------------- Way forward: Switching to sim-trading. Milestones for sim trading, before going live: Highly detailed Trading Plan established and tested Min duration: 2 weeks Min profit: 500$ per week per contract traded for 2 consecutive weeks. Max drawdown: 500$ per contract for 2 cons. weeks Min total profit: 2500$ per contract traded 1 vs 3 contracts Starting to trade SIM with 3 contracts, in order to regain earlier successfull SIM trading style, which was with 3 contracts all in, scale out. Must reduce to 1 contract successfully for at least one week, before going live. SIM account startup: Monday 29th Sept. (Today will not be included, as only half day) chill out folks! spirit is good!
Traderzones, With all due respect, likelihood of success has absolutely nothing to do with wishing someone luck or success. Doling out criticism and disparagement under the guise of realism isn't difficult. I imagine the OP has staked a lot of time and energy and emotion on this. So much so that he's accumulated one year's worth of living expenses and taken the dramatic step of quitting his job to pursue this. So why shatter his dreams? Now perhaps you have good intentions. Perhaps you're trying to coax the OP to more realistic plans, or goals or ambitions. If that's the case, IMHO, this isn't the way to go about it. Regards, Neoxx
You seriously MUST be joking??? All your response shows, is that you are very very naive. The OP is foolish. You do not understand what this involves. Goodbye.
LOL He wont listen trader zones, but thats the only way newbies learn. You hae to lose all your money 1sty to findout 'how to lose money', so then you can workout how instead make money by doing the opposite. I know you dont like me BtettDog, so how about me make this into a nice healthy competion?? We have a race of who can it £100,000 1st. We both started last week with under 2,500 capital (i was under 2,400, so its a fair race. lol
you think 100,000 is a lot?? after taxes and living expenses you are left with nothing. i fucking hate this leeching society
Week 1: I made £1,819 profit.. lol (And mine's tax free might i add, as i pay £24 per each trade i make in the spread cost)