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Psychology and Money Management

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New to Futures, but Hitting the Wall

  #24 (permalink)

Reno, Nevada
Trading Experience: Advanced
Platform: NinjaTrader
Favorite Futures: ZN, ZB, CL
phantomtrader's Avatar
Posts: 233 since May 2011
Thanks: 54 given, 388 received

If you want real help, the best thing to do is upload a few weeks of real time trades. Then describe what it is you're trying to do - what's your strategy, how do you calculate risk/reward, how you calculated your stop/profit target, what size chart are you using, are you using order flow.

Why did you decide to trade futures when you were already doing well in stocks? There's a lot of nuances with futures (by "nuances" I mean there's a lot of crap that goes on with futures). You need to get a handle on that.

There are a lot of traders on this board who may be able to give you some insight into your trading model. If you're incurring a lot of losses, then your trading model has to be looked at very critically and either corrected or dumped completely. Your win/loss ratio speaks for itself. You need to analyze trade-by-trade, compare execution to your model, figure out what went wrong and then how to fix it. When a bridge collapses, that's what an engineer would do. Trading is no different. Map it out in an Excel worksheet. Review all your trades in market replay.

Also, there's a wealth of information on this board - downloads, webinars, journals that people are writing daily. I'd recommend watching a lot of webinars from traders who have been there, done that.

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