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Goals Achieved: First Profitable Week + first Week 5 Green Days in a row.


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Goals Achieved: First Profitable Week + first Week 5 Green Days in a row.

  #1 (permalink)
lgix
Somewhere + Australia
 
Posts: 7 since May 2020
Thanks Given: 1
Thanks Received: 12

Hi all,

I'm currently enjoying a glass of Laphroaig in celebration of accomplishing two goals that a week ago I definitely didn't think would be achieved anytime soon. My first week profitable and my first week of 5 green days straight.

At the beginning of May I funded an account to trade a setup in FDXM that I'd spent the past 5 months developing, trading on SIM both live and using market replay (a brilliant tool for Deliberate Practice). I'd felt that my professional development was starting to slow on SIM, and that it was time to Trade Live to kick start my learning again. Unfortunately I very quickly discovered that:

1) The amount of capital I was trading with was too low to trade how I was on SIM without risking blowing up my account very quickly in a few bad days
2) What edge there was in that trade has all but vanished at present (I put it down to current market conditions being a little special).

Markets change, edges come and go, so be it.

The end result was that I was down almost 50% of my account by the end of May. I've blown up accounts before, and didn't really have a problem with the loss, I was fully aware that as I was underfunded there was a real risk of blowing up. What I wasn't prepared for was the frustration I felt at my edge having gone, not being able to trade as I wanted to, and the bad psychology traits I was showing.

Concurrent to the FDXM trade I was working on, I'd also been working on a few orderflow trades on the DAX/FDXM open. I looked back over the past couple of weeks and discovered that the only consistency I'd had was with the Opening Drive trades. So mid last week I switched to trading the open exclusively. I worked on my weaknesses, conducted hours of Deliberate Practice, redeveloped my trading plan, and this week my efforts have paid off.

While I definitely haven't recovered my loss on my account in 1 week, that's not even a consideration, that money is gone there's no use trying to get it back. I'm not focused on making money anyway, my focus is on Execution Consistency and building good habits and skills to make this my future career.

I definitely have room to improve and things to fix from this week, and I don't expect every day to be green moving forward at all, but it was a great feeling going from being frustrated at my performance and the time spent testing and developing this trade, to actually seeing some positive results and unexpectedly being able to tick off two trading goals.

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  #2 (permalink)
 Andreikoan 
Dublin
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES CL
Posts: 3 since Apr 2016
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Thanks Received: 3

Congratulations! Keep it up!

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  #3 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Frequency: Several times daily
Duration: Minutes
Posts: 8,172 since Jan 2013
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lgix View Post
Hi all,

I'm currently enjoying a glass of Laphroaig in celebration of accomplishing two goals that a week ago I definitely didn't think would be achieved anytime soon. My first week profitable and my first week of 5 green days straight.

Good job.

Enjoy the Laphroaig. It's one of my favorites too.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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Last Updated on June 15, 2020


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