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New to Futures, but Hitting the Wall
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New to Futures, but Hitting the Wall

  #51 (permalink)
London
 
Trading Experience: Advanced
Platform: cqg integrated,ninjatrade
Favorite Futures: Futures and forex
 
Posts: 49 since Apr 2015
Thanks: 6 given, 62 received


Wizard3ootz View Post
So, itís probably my third week trading futures (day trading) and sadly, Iím not doing so well. Iíve gotten trapped a lot, with a great deal of false breakouts, making bad decisions, like chasing a breakout, and then putting in a limit order in way too high on the move, and then watching it pull back and getting f******. Mostly, though, itís perhaps overtrading, getting eaten up by commissions, and all of the tiny losses that are accumulating massively.

Iím feeling pretty defeated. I know I need to lower my position sizes. At this point, I had considered walking away, and taking my money off the table (Iím down about 1300)

Donít get me wrong. I have made some beautiful trades. I caught two gorgeous second entries this morning.

That being said, I really need to find some better direction. I was pretty damn successful in my stock trading, and I have never allowed myself to lose this much money in my life. However, Iím getting to the point where something has to change, otherwise, this is clearly a poor investment.

From you experienced/profitable traders out there, if you have any solid advice you might give, please feel free to pass it my way. I study/read about the market probably 25 hours a week, so I am in no way lacking dedication/motivation.


Is this 3 weeks in total or 3 weeks on a live account.? if its 3 weeks in live then You probably went live at the wrong time of the year. Its holiday season and the markets get very rangebound. if its 3 weeks in total and you are asking these types of questions this early, then how long are you expecting to be able to get some consistency?

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