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Showing content with the highest reputation on 01/16/2019 in all areas

  1. 1 point
    Hey Everyone I'm going to start posting my daily trades here. I joined this community in March 2018. I did sim for 4 months. Went live in July. Loss $3,000 in 10 days. Went live again in August. Loss $1,000 in 10 days. Went live again in October and I'm still currently trading with that buy in. I haven't been profitable and I am down to about $300 above PDT. Every day I will post my P&L and Tradervue Dashboard, and I plan to post any relevant/interesting trades that I've taken. I'm not the best trader, but like many people here, my biggest problem is self control and discipline. The Good days are ok. The bad days have been extra bad. I've finally realized my limitations on my self control and I have increased my DAS Risk controls. My current settings: Max Daily Loss: $200 Max Pos Loss: $80 Max Shares traded a day: 4,000 Goal is $150 If I my P&L hits $120 in a day, my max drawdown is 20%. My trading is cut off at 12pm Auto Stop on Max Position Loss and Max Daily Loss. I've implemented these slowly throughout the past month. I originally started with just the Max daily loss, until I began to double down and let my big losers run and run and run because I wasn't ready to end my day and then it got to a point, that the loss was so significant that I couldn't exit the trade and had to pray for a reversal. It didn't always come. I've had to implement the Max shares traded and max drawdown, because I've let too many winnings day turn into losing days, mostly by overtrading. The 4,000 shares and 12pm cut off time is my way to combat my overtrading. It is still very easy to overtrade when you are trading 100 shares at a time, but I felt this was the best balance considering I do take 300 shares or so at a time on MU/AMD. I didn't want an AMD day to be cut short because of this limit. Some of the problems that I currently deal with: Walking Away - I have a hard time walking away when I am losing. Often times, I finally quit when Das Stops me Out. This will be one of the things that I report on daily. Stopping Out/Doubling Down - This used to be one of my bigger problems. Again, I hated to lose, so I will let me losers run or double down on my position to try and get out at break even. It works until it doesn't. I've been better at not doubling down with the Pos Max Loss with Auto Stop. Overtrading - My problem since the very beginning. When I first started trading, I didn't have a stopping out problem, I just had an overtrading problem. If anything I had the problem of stopping out too quickly. I tried to implement a trade limit for myself, but then I started letting my losers run a little because it was one of my limited trades for the day. I still let trades run (not as bad as before) , and I still overtrade on a daily basis. I probably average about 12-15 trades a day. Taking Bad Setups - Another issue that I've been working on is my patience and taking better setups. The emotions get to me at times, and I will trade to just be in a trade. Sometimes as soon as I exit a trade, I will find a reason to enter a new one. Short Bias - I have an extreme short Bias. Since Oct 2018, 80% of my trades have been short. Relying too heavily on the 1 min chart - This one, I've been getting better at and its really helped. I used to trade solely off the 1 min chart and at times I still do. Less often than before. These are the problems that I deal with on daily basis. Going to fix all of these on my way to becoming a profitable and consistent trader. I'm going to be documenting my journey to make trading my full time career. I would happily accept any questions, feedback, or critiques. So please feel free to chime in. If there are any particular trades of mine that I didn't share for the day, that you might want to see, feel free to let me know.
  2. 1 point
    Hey Bear Bull Traders- I'm Rick, 52, from Florence, Kentucky. I, like most everyone else on here, have always been interested in the markets. I really do watch CNBC while getting ready for work just because it interests me LOL. My background is 30+ years in aviation maintenance. I've done everything from changing out engines and landing gears to planning and managing maintenance. I spent four years in the US Air Force. Another 7+ years as a civilian contractor working on military aircraft and eventually ended up here in the Cincinnati area working for a regional airline managing maintenance for 16 years. I currently work for GE Aviation in Evendale, Ohio. My wife also works in Cincinnati running a department at a national bank. I've read Andrews books along with numerous others on trading and psychology. I will have to say that Andrews first book really hit home for me. I have always been into investing and swing trading (although I didn't know that was what I was doing}. Honestly, I was terrible at swing trading. I was actually swing/long investor. I couldn't hold a stock more than about 6 weeks because I needed something to happen. Learning fundamentals is not really anything that I want to do. I have just started the sim training Jan 2, 2019. I have invested in a nice work station. Will start my journal next week. Blah Blah Blah LOL...seriously. I have really enjoyed these last few months of reading and learning. I work afternoons full time at a great job and it seems to me like a perfect time to learn this career. I am so glad I have time to take it slowly and learn/grow from my trades. Final thought....the pre-market chat is awesome. Thanks Carlos! I have really enjoyed the "small community" feel while interacting with the chat group. Everyone is more than willing to help, give advice on platform questions. trading etc. I feel that this community really wants to succeed and the fact that folks are so willing to share and help others is what drew me to this community. Thanks Andrew for all of your work, along with all the other Mods. Rick Burton
  3. 1 point
    Quick Update: I didn't forget about this thread. I've been out these past two days. Our little baby girl arrived 2 and a half weeks early! (Pic coming soon) So I've been quite busy. Not sure of my schedule for this week, but will post if I trade.
  4. 1 point
    Saludos a todos. Mi nombre es Romeo Vela soy de Detroit, Michigan pero vivi muchos años en Mexico de donde son mis padres. Empece BBT en marzo del 2018. Mucho tiempo en simulador. Desde noviembre 2018 empece con cuenta real, pero aun uso simulador. Sigo la curva de aprendizaje. Espero compartir ideas en este espacio. Gracias Abiel por crear el club.
  5. 1 point
    The walking away and not over trading is particularly difficult for me as well. i know in my head what i need to do but i just get steamrolled by my emotions and do the bonehead thing instead of the prudent thing. i think that's the main reason why trading is so difficult. i've been thinking a lot about what Mark Douglas says in trading in the zone that I have to slowly diffuse the habits that are holding me back from being consistent and slowly infuse good habits. the only way to do that is work everyday on the things I can control but also realize that these habits have been with us our entire life so they're not going away easy and to not be too hard on myself when i make a mistake. Maybe pick one specific issue to work on and dedicate six weeks to that task? Go easy on your goal as well for example, 75% of the time i will get out of a losing trade instead of doubling down and then track that specific goal to see if you're making an improvement. Right now for myself i am working on stepping away when i'm losing so after my first loss i'm working on logging that trade and seeing what i did wrong instead of jumping right back in the market and then if i lose again taking a 5min break to calm down. you can see in my trade journal that i did not do that Thursday and i hit max loss and that's ok, there's always going to be set backs on the road to improvement.
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