This week vs last week:
Over the years that I have traded, I found that it is not difficult to make 5k in a month trading futures - I simply traded without stops. I also found out that it is not difficult to lose 5k in half or even a quarter of that time - just trade without stops.
I have this wonderful spreadsheet that I've kept with me for a long time which shows me exactly how to go about managing my position sizing in order to grow my account exponentially. I haven't had the chance to use it because I haven't passed the criteria of being even consistent with my entries and exits. I know for a fact that I am a day-trader and I like fast moving instruments that are not crazy, but other than that, it seems I haven't quite settled on a method of identifying high probability trades, of how I would enter and exit a trade. The reason is because I am spoilt for choices, and I don't want to have to choose. Simply put, I want them all. And I didn't think that was greed. Ha.
So I have come to a point where I realize that if I don't stop sabotaging my account, I might as well stop trading because if I don't, it will soon become a very expensive hobby.
Here's to stupidity:
5 comments:
Yeah profitable trading without hard or extremely well disciplined mental stops is impossible imo.
For me this means watching moves go with out me. If they don't quite fit my trade criteria I have to let it go even though my gut says take the trade.
Meaning I won't get everything. This is hard. However since my gut is not all that profitable it's the right thing to do.
The right thing to do is the hard thing to do.
Why?
Because humans are stupid.
Right.
The Swami broke his silence :-)
That's Swamiguru, please.
Oops...my deepest apology, Swamiguru.
You're not going to sprinkle tiger dust on me I hope....
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