Trading When to call it quits? Oil Trader - Psychology and Money Management | futures io social day trading
futures io futures trading


Trading When to call it quits? Oil Trader
Updated: Views / Replies:3,653 / 42
Created: by xylem Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Trading When to call it quits? Oil Trader

  #41 (permalink)
Elite Member
Winnipeg, Canada
 
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: ES/ZB
 
Posts: 106 since Apr 2015
Thanks: 94 given, 166 received


xylem View Post

During the EIA for example I was amped and ready for that flush. But That excitement and conviction ended up hurting me as I took about 6 attempts at the short which never came.
The true market was a bear trap followed by a bulltrap and dump.

The True Market was not a bear trap or a bulltrap or anything of the like. Those terms imply trades, but trades only exist in the False Market. YOU were caught in a bear trap, the True Market is indifferent to that.


xylem View Post

I just wish the process of improvement could be more "that worked great il do that more" rather than "uh, thats bad I I cant do that anymore".

an important thing to think about is when something works what do you owe that to? what you owe a winning trade and what you owe to a losing trade should be the same thing.

no strategy is 100% so what works well wont work all the time. if you do what works well but then it doesnt work from time to time, its not in need of changing because its within our expectations to experience some losses. this is why consistency in strategy is important because you can track performance that way. only when our performance diminishes to the point when trades rarely work should we look for change.

BUT the first place to change is not necessarily our setups/indicators/analysis/etc etc (True Market) we should find out if we can change HOW we are trading our strategy (False Market) and look for solutions on the management side of things. More often than not trades don't work because our trade management style is not reflective of the current market environment (False Market not lining up with True Market)

Reply With Quote
 
  #42 (permalink)
Trading for Fun
LONDON UK
 
Futures Experience: Intermediate
Platform: IB XTRADER Jigsaw
Favorite Futures: CL YM BUND NQ
 
Posts: 60 since Nov 2014
Thanks: 20 given, 13 received

Ive been having decent success lately minimizing my trades and being a LOT more selective.

Today however was really tough.
I massively controlled my losses but still ended up having a (smallish) loss as I was looking for a decent trade to setup and tried a few attempts.
The market was just really tough today imo.
Can I just put this down to a bad day or a little bit too aggresive of me (which is true, I did 1 or 2 trades that were not "easy trades")

How did you guys do in todays EIA day?

Reply With Quote
 
  #43 (permalink)
Elite Member
Luxembourg, Luxembourg
 
Futures Experience: Advanced
Platform: TWS
Broker/Data: Interactive Brokers
Favorite Futures: Stocks
 
Posts: 491 since May 2012
Thanks: 1,641 given, 1,126 received



xylem View Post
Ive been having decent success lately minimizing my trades and being a LOT more selective.

Being extremely selective tends to improve my results as well - glad it is working for you.


xylem View Post
Today however was really tough.
I massively controlled my losses but still ended up having a (smallish) loss as I was looking for a decent trade to setup and tried a few attempts.
The market was just really tough today imo.
Can I just put this down to a bad day or a little bit too aggresive of me (which is true, I did 1 or 2 trades that were not "easy trades")

Why do you attach such significance to one tough day? Once you trade for a while, you will realise that there are plenty of tough days and all you can do is get back up and get ready for the next day. If you had a small loss on a tough day, I would call that a success.


xylem View Post
How did you guys do in todays EIA day?

EIA? What's that? Can I eat it? Just kidding - but if you trade news events, you better be prepared to deal with the volatility and be pretty fast on your feet. Even if you do that, it does not mean you will successfully trade such events.

Reply With Quote

Reply



futures io > > > Trading When to call it quits? Oil Trader

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Dorman Trading's Hal Dunne quits company, Dorman's capital shrinks 25% Big Mike Reviews of Brokers and Data Feeds 10 September 29th, 2014 07:12 PM
How to call/enable and pass a parameter to a Ninjatrader Strategy from Chart trader? podski NinjaTrader 3 April 10th, 2014 12:39 PM
The Rot Runs Deep 2: Don't Call Out My Scam and I Won't Call Out Yours kbit News and Current Events 2 August 29th, 2012 07:52 PM
Goldman's Call to Sell Oil Could Be a Buying Opportunity: Pros Quick Summary News and Current Events 0 April 12th, 2011 04:10 PM
Analysts Call for $130 Oil by Year-End; Impact Seen Quick Summary News and Current Events 0 April 7th, 2011 02:40 AM


All times are GMT -4. The time now is 12:43 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-13 in 0.09 seconds with 19 queries on phoenix via your IP 54.221.93.187