you know, I'm sorry to hear that. I think your persistence will lead eventually to succed with it. Maybe doing a combine again will also help you better define your strategy and risk management. I just would suggest you to start fresh next year, take some rest and spend some time with your family. You worked very good this year and even if I can understand you may be disappointed right now, you have a lot to be happy the way your trading is improved.
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Yesterday was a no trading. Based on the strategy, and based on my family obligation. I had to go to the kids, so I had only 30 minutes to trade. When the market was open I saw a big drop. I said myself. Oke, I will go short after the market open, if it takes me out, I will go short again on pullback that's it.
I did not go short. I saw the market droping. I was angry. I have no time to loose, and I am not doing what I have been planed. Oke lets go long on a pullback. Pullback was coming. No real signal (I have a justification signal to do this, after a huge drop). Make a gift. Get angry, went short. On the second pullback the market pop back to the opening zone.
News was coming. It is always heavy on the russel (not on the YM!)
I made 2-3 gift moving my stops, checking the time was late to the kids... getting raged...
I am not continue my story.
My bad, my decision my fault. I have to change on these discipline issues, if I would like to be a good trader. So I decieded to went back to combine.
thx all the support.
Combine plan is simple. I have 2 free combine. On the first combine I will trade Crude and YM. Start trading crude at pit open, and YM paralel. Just to get used to it. If it is successful, than it is. If not, I will stick with the YM on the second run... No rush, will see...
I used to have some of your bad habits. After reading the "Law of success" by Napoleon Hill i was inspired to create a *xls file, 3 columns: bad habits, cause - fears (where from those bad habits are coming from), good habits. Analysed all the bad entries and where I identified bad habits I put them in the first column. Then asked myself sincerely why I was taking this trade and I identified the cause - fear behind and put it in the second column. Then I invented some sayings against the bad habits which I will repeat every time I will be confrunted with the same cause - fear which triggered my bad habit. For example: 1. Not taking the profit (which is not at the daily target) although seeing signals against 2. Greed -Fear of poverty 3. "Bird in the hand worths two in the bush"
1. Moving the stop without a backup reason 2. Fear of loss -Fear of poverty 3. "A gift is a gift (not a loss)"
I hope it will help you.
I must admit that I was inspired also by Horst sayings if you observed he has some expressions: "Bird in the hand worth two in the bush", "No harm no faul", "Don't need to trade every day. Consistency a lot depends on the days you choose to trade, the opportunities you get envolved with. A smart trader can produce a profit. A wise trader knows which trades to produce a profit on.", etc.
I know you've gone be a great trader, I feel it, my trader intuition is telling me that. (By the way 50 percent probability for a pattern is just like you flip a coin, find something like 70-80 percent).
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I had all your mental issues and still have. Beleive it or not, even if you're a genius, you will never succeed in this market unless you completely get rid off all these bad habbits!
I am currently following a (trading diet) that is helping me keep me focused and away from all the bad habbits most of the time. I wish you success, and I really understand what you're going through because I have been there my self, and its pretty painfull, especially when you're trading for a living
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A question about daily daily max loss.
If I'm in a trade and dom went red below max daily loss but didn't close my position and then market turned around and dom is green and closed my position with a profit , Do I fail combine by just crossing daily max limit or it only counts closed positions?