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2015 TST Combine #1_David
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2015 TST Combine #1_David

  #21 (permalink)
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Manta, Ecuador
 
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David_R View Post
Thursday was a screw up. The $900 I made in crude turned out to be in the SIM acct and not the TST acct, so Thursday was a losing day of about $900. Today was as well. I tried to recover from yesterday and hit my trailing account stop which was at $50,000. So I either need to restart again, or call it quits.

David, you've been a good member here for a long time.

How much time out of your life have you invested in trading?

What sacrifices have you made?

How much money spent?

What motivates you?

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  #22 (permalink)
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David, you've been a good member here for a long time.

How much time out of your life have you invested in trading? It's been 10 years or so since I started.

What sacrifices have you made? Spent money on software, seminars, books, DVD instead of doing other things like travel.

How much money spent? Education and software type stuff probable around $20k. Trading 150-200k

What motivates you? The freedom of not working for a corporation and probably the money

Sent from my phone


How much time out of your life have you invested in trading? It's been 10 years or so since I started.

What sacrifices have you made? Spent money on software, seminars, books, DVD instead of doing other things like travel.

How much money spent? Education and software type stuff probable around $20k. Trading 150-200k

What motivates you? The freedom of not working for a corporation and probably the money

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  #23 (permalink)
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well, im right there with you Dave on blowing multipal combine accounts, In all my look back assessment I am in need of deeper analysis..ie reletive Volume and price action, that and a surrender to the hallucination of picking tops and bottoms, :lalala:Cl and lately YM continue to prove that...perhaps im ready to let go of needing to be right ...what a ride to hell that is ...stay with it D our persistence to understand ourselves will prevail...

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  #24 (permalink)
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reframing what happens to you within a context right to you

Something to inspire you.

?My life works??a context for your life - Morty Lefkoe

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  #25 (permalink)
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Hi David

This is my first post in futures.io (formerly BMT) after 3 years. Im writing you because you are great person. You posted a lot of great stuff and was opened to anybody.

I blowed 6 combines to see what is my problem and now im in new one to fix my problem which was showing in all combines. That problem is risk and money manegement.

I saw a lot of trading systems(good ones) which failed on bad position sizings and risk models.
As somebody wrote RISK is the only one thing you can manage in trading. You dont know what king of move will be next, If it hits all your targets etc. But you must know how much you will risk and if you hit your loss limit just call it a day and stop trading.

From my experience this is how I have setted my combine:
Account TST 30000$
Trading CL
Risking 10 ticks in one trade profit target is 15 ticks
Max. daily loss is 300$ + commisions.
If I hit 300$ profit Im done. If i hit 300$loss Im done. If I feel I had enough chances Im done. Friday 2wins 2 losses(I did 4 trades so it was enough for me so I quit my trading platform)

Hypoteticaly I have space to make 15 loosing trades in a row to blow the account. It takes me 5 days to blow account. The probability to have 15 lossing trades is not high.
I have 1:1,5 RRR which is important because its much easier to make some profit.
I have daily risk limit 300$ so I am not able to erase profit from two days in one loosing day.
I have profit target 300$ so I cant be greedy. As more trades you will take the biggest chance that you will psychologicaly ruin yourself and blow account.You remember just one trade and i will be in +ve and bla bla bla. Its not you its you ego and ego is not friend for traders.

I hope you will find something from that in best inspiring and will achieve the combine.
Best luck

Andrej

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