Attaboy!!! Now you realize why the down days have to be smaller than winning days _yesterday you lost 500 today you make 1000. One thing that I always do when I am on a losing streak or strategy is not performing upto my expectations or I have to devise a new strategy I look and back test my presumtions and criteria and if they hold true with some degree of edge and how I can improve that edge. Once that part is done and positive expectancy is there then you must also go back and see under what situations your strategy fails- big gap up days, trending days, flat lined days, days near option expiration and on and on.... Thats just an exercise you must repeat almost every 3-4 months invariably.
one day is not a habit or a routine! I am still waiting for Mr.BLOW UP.. robert Weinsteinberg to have a huge loss day that wipes all of his hard work for the month.. happens everytime like clock work.. no offense but i check your journal to remind me of what I used to do a long time ago. Anyway .. i think you are above average with consistent small profits, but that never made anyone rich especially when you tend to give it all back to the casino by the end of the month. I'M STILL WORRIED ABOUT YOU ROBERT W. Careful our there.. the next big loss is lurking right aroudn the corner.. you know it's there ... now how are you going to stop it!!! WHAT IS YOUR MAX DAILY LOSS? MAX TRADE LOSS? if you have to think about this answer then you are not ready adn destined to blow out your profits.. again and again and again
p.s. prop firms absolutely love guys like you.. guys who trade a lot and make lots of profits.. then give it all back... but you maintain your equity somewhat? why do they love you.. you feed them daily fees.. they never have to pay you.. and you are nto successful enough to leave and go trade on your own.. you stay level and thats what they want.. jut keep feeding them the fees over and over and over
Good job Robert, I knew you could do it! Personally, I have no problem with a larger losing day if I have mostly winning days. I also incorporated a new signal into my trading, but tested it small and it worked out. I then switched to demo for rest of day. Then I spent after market studying my charts and my mentors charts for the last 2 days. I also ran a 2 week report on NinjaTrader and it showed me profitable. I had to use advance on the report and check my real account or else it will combine both demo and real trades. My understanding is NinjaTrader does work with IB. I am surprised you don't use a more advanced front end that allows much more automation even without knowing programming. For example, you were complaining the software does not do what it is supposed to do. Maybe you should try it. Also, ignore some of these posters, they don't understand what we do in that we analyze our strategies to improve our performance going forward if something does not work out.
Limitupmike meet Traderzones...Traderzones meet Limitupmike LOL You guys are the dirt of ET but then again ET wouldnt be ET without guys like you--at least RW is a trader--what are you ? Post some blotters or something then we will see. Easy to feed off leftover pizza from your mom's fridge and then sneak over to your abode in her basement and crawl these posts. IS that how your trade ? http://www.elitetrader.com/vb/showthread.php?s=&postid=2667468#post2667468
lol.. i just find it funny how everyone congratulates RW .. godd job ol chap! good job.... when in reality the ship is taking on water and not moving anywhere.. i like to think that I am more like the wizard of ET since i have seen more traders trade and traded more myself than almost anyone on here.. no matter what crap they are slinging. u guys treat robert like he is the retarded child who put food in his mouth once.. and you have a party.. or the kid who finishes a race in lat place and you say.. oh man great job finishing...
Thanks GG, I have to totally agree. I would say that a check on things at least every 3-4 months is required no matter what. This is something that I used to work on at least every couple of weeks and with going back to school has really taken a back seat. It should not have taken me this long to understand that it wasn't lack of volatility that was the complete cause of lack of signals but bolting down the hatch a little to tight. Thanks again and best to you Robert
Geez, this looks awfully similar to Neke's thread where parasites are bountiful. Why don't we level the playing field a bit? Before indulging yourselves to the frenzy of I-know-what-you-don't know attacks, I ask you to eat your own words and post your trades in REALTIME for everyone to see and critique (or criticize, however you look at it). We'll see if you're qualified to judge or not.
Hi limitupmike2, Thanks for clarifying that no offense was intended. Normally when someone goes out of their way to butcher my name I think otherwise..... You have some good points that are truly valid but you lose your credibility in my opinion when you appear to try to look like you have all the answers but don't demonstrate it. Start a journal (I looked but didn't find one by you) and show us how its done. I would be happy to read it and happy to learn from it as well. Being a coach is EASY and its easy to write books saying how to trade. What is not easy is dropping your pants daily to the world to show what you have done. There is no question that I am making to many mistakes in my trading and I am working hard to become better. At the same time and I know its hard for someone else to see the difference most of my trading is trend fading / finding the start of a new trend. While this can work really well in the right situation I have tried to apply it at the wrong times causing issues and large losses. Last year at this time I finished up a great January and was starting out February strong. this year my January was a loss and so far this month is too. The thing is and this is the important thing, is that I am a better trader today than I was this time last year. I may be taking some "large" hits but I am not getting hit like with LEH, HAR and AIG because I don't put myself in that situation so I DO actually learn even if it is slow. Last year around March I was slammed hard with MW with my gap up signal idea. I also took hits on others as well. But now, its currently my most profitable signal and I make gains with it almost everyday. Some people very well intended suggested that I do not every fade a gap up as its a strong sign of strength. This can be very true and but if you take it a step past that and look to see which ones continue higher and which ones retrace (even if they then go back higher) you can find opportunities to trade which I have done for the last six months or so with this signal. "blowing up" or losing is only losing if you don't learn anything from it and you can not improve as a result. If you can get an idea or learn something that will improve your trading than it doesn't have to be a loss. Sometimes my losses are just that losses. But sometimes and often I take the time to get something from it to improve in the future. Even trades like BIDU last month can be helpful when the setup happens again (as I am sure it will ) Best to you and I look forward to reading your journal so I can see another way of catching the mouse Robert
I am pretty sure IB loves me too...... Of course I don't remember getting so much as a Christmas card so maybe not. Robert