I'm posting in the Elite area as I would prefer to keep it to the (presumably) more serious traders here. I know this may not exactly fit here, but hopefully that's okay with all of you.
I originally joined futures.io (formerly BMT) in Jan-12 to download some Easylanguage code (fractal dimension index). I had no intention of sticking around. But I find myself coming back more and more often, and really like the spirit of openness that exists here. I appreciate Big Mike's style of sharing and same for many of you others too.
So I think its time to say a few words about me, offer help to anyone who needs it, and also get some advice myself.
I have been trading for about 8 years. For most of that time I have been losing. Over and again. Some significant numbers too. Most of you have probably been through that phase. Its awful, but if you're pig-headed like me you suck it up, stick with it and keep learning. But it has been a rough ride. I have a diary I sometimes look back at and just reading it can make me nauseous. I feel like burning it sometimes. I never want to go back there :stickyman:
A few things have lead to a sort of turn-around (work in progress) over the last year, mostly:
- reading, and re-reading, Trading in the Zone by Mark Douglas. A heavy read but an amazing book
- getting myself into Multicharts and EL programming (to IB). I have about 15 mostly simple models. I found the fractal dimension index useful for about half of them
- discovering price action. I find it odd that I missed this for so many years.
- last but not least, learning to monitor myself when trading discretionary. The 'carefree state' Douglas discusses is the key to success I have found. If its not there, you need to ask yourself why... emotion blocks perception, and then bad things happen
So now I'm still persevering with discretionary trading but only with a small % of my capital. I can't afford to lose more and really value what I have left. I have a small account I use for learning. I would like to turn this around and have hopes to do so
The rest of my trading is automated (on futures). Typically holding for up to 24 hours. Its doing ok though 1/2 of the models are not performing at present. So effort has been put into a model combination tool, which has been helpful. Using covariances over a trailing window and optimising for portfolio growth (under some risk constraints). Its up 10% in the last 7 weeks.
However I find I get bored (or is it lonely?) and want more action. I'm looking for new models to develop, maybe new directions and an interchange of ideas with others. Or just to chat about things like goal setting, learning plans and ways to keep progressing so that you remain motivated...
So do be in touch if anything I have written strikes a cord...