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The First Loss is the Best Loss
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Created: by ZTR Attachments:4

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The First Loss is the Best Loss

  #21 (permalink)
Membership Revoked
British Columbia
Futures Experience: Advanced
Platform: NINJA
Broker/Data: ZEN
Favorite Futures: Crude
Posts: 1,091 since May 2010
Thanks: 192 given, 484 received

Thanks Darth.. when I said that I guess I was in a mood of sorts. Indeed I've been thinking about the nature of 6E, it's volatility and behaviour and the distribution of my historical results based on a now outdated method.

I am starting to believe where exits define the profitability of a trade and that exits are way more difficult to get right as you have your skin in the game and emotions working in the background, then this is where the systematic nature of the trading really needs to come into your equation for making money.

How many times did you hesitate for second and think, should I take that 80 pips just to watch it disappear in an instant. Anyways, I've been thinking about the statistical distribution of my trading and beginning to think it may be best to set a fixed goal for each trade, such as 40 pips on 6E, with an allowance for closing the trade early if it appears to faulter.

darthtrader3.6 View Post
Keep in mind this can also not be true. While no money management system can make a system with negative exception into a winning system, you can quite easily take a system with positive expectation and turn it into a loser by over leveraging and not being able to survive a random losing streak.

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  #22 (permalink)
 R.I.P. 1960-2010 
Futures Experience: Advanced
Platform: NinjaTrader7
Broker/Data: Mirus RCG/Zen-Fire
Favorite Futures: CL & 6e, looking at ES, ZB and AU again.
ZTR's Avatar
Posts: 2,099 since Nov 2009
Thanks: 1,104 given, 1,392 received

This was the worst trade in a long time. Gave back everything I made for the day.

But I did not quit and ended up for the day.

Let me say: I completely lost focus during this trade. I was no longer doing what I do best, which is reading the DOM.

I was so stubborn: Will try hard not to make this mistake again

R.I.P. Andy Zektzer (ZTR), 1960-2010.
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