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2024 Trading Thread 2024 Trading Thread

10-26-2024 , 11:54 PM
what do you trade?
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10-27-2024 , 08:22 PM
Quote:
Originally Posted by tradingforaliving
I started to study years ago, but didn't had success. Took a time off, started to study and trade again a few years later, one more time I failed . Then, started again, and failed again.
Then decided I would become a poker player. (Had studied for some time in past). I studied for some months and made it up to 25NL. Then, I decided to try trading again because of the higher income potential.
I was determined to succeed. Took some time just studying and started to trade.
Around the 5° month of trade I had my 1° month of consistency.
But in half way I got completely out of track.
I absolutely had a mathematical edge but acquired a horrible mentality when started to make a relative decent money on a daily basis.
I stoped to be technical and think in terms of EV, and started to think only about making huge amounts of money (relative), everyday. I was taking trades I shouldn't when there were not good opportunities because I didn't want to have a day without making money.
I got blindly greedy after seeing those fat daily profits.
I started to use compounding calculator to forecast ideal returns for the next months and dream about a luxurious lifestyle. haha
And that was the phormula to fail again. Later or sooner I would **** up everything, because it's impossible to succeed in the markets with such trash mentality. In a certain day, I should just accept a 12 ticks stop and move on. But I was not acepting losses very well. I started to defend the next defense levels and increasing position size until I got so tilted I went 'ALL IN' and leave the room. When I was back to the screens I was broke. I'm glad this happened early.
Now, I'm starting again and determined to keep a world-class mentality.
These ones below are day by day P&L graphs.
If you havent you should read "Trading in the Zone" and "The Disciplined Trader" both by Mark Douglas. You sound like you have trouble with the mental aspects of trading. If you have a plan and methodology that fit your personality and risk parameters (and actually works on paper!) its just a question of executing that plan without all of the mental landmines that come with trading. When you are at the right edge of the chart waiting for the next bar to print emotion can easily scuttle your plans.
2024 Trading Thread Quote
10-28-2024 , 02:07 PM
Quote:
Originally Posted by smartDFS
what do you trade?
Future Brazilian Index
2024 Trading Thread Quote
10-28-2024 , 02:11 PM
Quote:
Originally Posted by mrbaseball
If you havent you should read "Trading in the Zone" and "The Disciplined Trader" both by Mark Douglas. You sound like you have trouble with the mental aspects of trading. If you have a plan and methodology that fit your personality and risk parameters (and actually works on paper!) its just a question of executing that plan without all of the mental landmines that come with trading. When you are at the right edge of the chart waiting for the next bar to print emotion can easily scuttle your plans.
Sure. I'll take a look.
In my opinion trading mental game is much harder than it is in poker. It's so easy to get biased. And a stop loss hits harder than a bad beat. It feels more like a personal failure, while in poker it feels just variance.
I achieved an amazing mental game in poker, and thought it would be the same in trading. But if I improved in poker I can also improve in trading.
What's your exprince regards trading?
2024 Trading Thread Quote
10-28-2024 , 06:37 PM
Quote:
Originally Posted by tradingforaliving
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What's your exprince regards trading?
Semi-retired (mostly retired!) trader of mostly options and futures. Started out making markets in TBond futures options in the pits at the CBOT in the 80's. Went on to trade almost anything and everything. Involved in the evolution from pits to screens. Nowadays I only trade ocassionally and mostly swing type trades rather than day trading, mostly options.
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10-28-2024 , 07:12 PM
Quote:
Originally Posted by mrbaseball
Semi-retired (mostly retired!) trader of mostly options and futures. Started out making markets in TBond futures options in the pits at the CBOT in the 80's. Went on to trade almost anything and everything. Involved in the evolution from pits to screens. Nowadays I only trade ocassionally and mostly swing type trades rather than day trading, mostly options.
Wow. That's a lot of experience. I have so much to learn.
May I know what type of approach do you use to trade?
2024 Trading Thread Quote
10-29-2024 , 01:31 PM
Quote:
Originally Posted by tradingforaliving
Wow. That's a lot of experience. I have so much to learn.
May I know what type of approach do you use to trade?
I am primarily a trend follower. The trend is your friend I trade channel breakouts, momenetum and support/resistance for the most part. 100% technical trading. Also do mean reversion in trends which basically means buying dips in uptrends. This is my favored approach for equity options.
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10-29-2024 , 10:16 PM
would you liken trend following in trading to steam chasing in sports betting, or are there other reasons that explain the edge in your view?
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Yesterday , 11:56 AM
Quote:
Originally Posted by smartDFS
would you liken trend following in trading to steam chasing in sports betting, or are there other reasons that explain the edge in your view?
Not really. Trend/momentum is all about people bailing or switching positions while hitting stop orders that fuel the move. People taking heat capitulate and people winning pile on and the move accerarates.
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