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Game Plan

  #61 (permalink)
 Itchymoku 
Philadelphia
 
Experience: None
Platform: corded black telephone
Trading: ticker tape
Posts: 2,894 since Apr 2012
Thanks Given: 1,683
Thanks Received: 3,681

Trust me trading can be self loathing in it's most pure form. You have to come to terms with it gradually in very small doses. mitigate the pain. The more riches you try to carry at once the greater it'll slow you down before the monster grips you in it's mouth for your last breath before it's all over. Perish in peace gracefully like an old aging wine in a shipwreck off the coast of France in 1759, not at the mouth of some grisly pirate pillaging about. Take the road less traveled with less traffic and greener pastures. Fight the dark side and don't do it, but you will. Everyone does. They have to see it for themselves. It's like the rat in the experiment where it's given a choice between cocaine or food, water, and sex. The rat always chooses the drug till it dies.


R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
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  #62 (permalink)
blackberry
newport coast, california
 
Posts: 48 since Aug 2015
Thanks Given: 59
Thanks Received: 17


tturner86 View Post
Now you are just making stuff up. $500's in a futures account isn't a micro account (it is 2pts from a margin call) and $5000 in a futures account isn't a mini account (its just enough rope to hang yourself). What it really is, is improper allocation of capital. As others have noted anything shy of $50K in a futures account is a waste. Now I am not advocating loading an account with $50k if you got it, because odds are you will do the same thing and just lose more.

You say you need to adjust or perish and you are absolutely correct. You're just trying to adjust the wrong area. You need to adjust your ego, adjust your capital, and adjust your expectations. As a trader I do not care about tick size. I care about ensuring I am adequately using my capital. That means that I am placing my capital at risk in the right products/markets.

You can't even begin to fathom what to do until you understand the market better.


Your market wisdom is duly noted.

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  #63 (permalink)
 Tasi 
Porirua, Wellington/New Zealand
 
Experience: Beginner
Platform: Ninja Trader
Trading: Futures
Posts: 5 since Jun 2014
Thanks Given: 58
Thanks Received: 2


Hope all is going well Blackberry. I wish all the best

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  #64 (permalink)
blackberry
newport coast, california
 
Posts: 48 since Aug 2015
Thanks Given: 59
Thanks Received: 17


Itchymoku View Post
Trust me trading can be self loathing in it's most pure form. You have to come to terms with it gradually in very small doses. mitigate the pain. The more riches you try to carry at once the greater it'll slow you down before the monster grips you in it's mouth for your last breath before it's all over. Perish in peace gracefully like an old aging wine in a shipwreck off the coast of France in 1759, not at the mouth of some grisly pirate pillaging about. Take the road less traveled with less traffic and greener pastures. Fight the dark side and don't do it, but you will. Everyone does. They have to see it for themselves. It's like the rat in the experiment where it's given a choice between cocaine or food, water, and sex. The rat always chooses the drug till it dies.



Thank you Itchymoku. Again, well said. Keep them coming.

Michael Gervais would say: "I feel badly for those people who measure success by one point in time. But if it's a proocess and journey and life engagement, you have a choice to be successful in the arc of growing. "

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  #65 (permalink)
 Itchymoku 
Philadelphia
 
Experience: None
Platform: corded black telephone
Trading: ticker tape
Posts: 2,894 since Apr 2012
Thanks Given: 1,683
Thanks Received: 3,681

Hey at least you aren't this far gone , you still have a lot of potential so be happy that you're able to grow an account, even if it's a small one. Most can't even do that.

R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
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  #66 (permalink)
blackberry
newport coast, california
 
Posts: 48 since Aug 2015
Thanks Given: 59
Thanks Received: 17

Thank you Itchymoku sir. A perfect conclusion of a whimsical trading Tuesday. LL. Goodnight

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  #67 (permalink)
 Itchymoku 
Philadelphia
 
Experience: None
Platform: corded black telephone
Trading: ticker tape
Posts: 2,894 since Apr 2012
Thanks Given: 1,683
Thanks Received: 3,681


blackberry View Post
Thank you Itchymoku sir. A perfect conclusion of a whimsical trading Tuesday. LL. Goodnight

There is no sleeping for traders, you have to stay up all night and trade the London session. Pour a big cup of coffee and braveheart it!


jk

R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
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  #68 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Frequency: Several times daily
Duration: Minutes
Posts: 8,162 since Jan 2013
Thanks Given: 57,343
Thanks Received: 26,267

Perhaps it is time to just let things roll on now. It would be great if @blackberry is successful in spite of the odds. I'm not expecting it, but it would be terrific.

But once the appropriate warnings have been made, discussed and understood, the value has been delivered. Now it's a matter of how the real-life experience works out. Like everyone else, he will make his own mistakes and have his own successes. Perhaps learn from both.

It's not realistic to expect success at this point, but who knows? In any case, we tried, he got the message, and now it's just between him and the market, as it always is.

Good luck, man.

Bob.

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  #69 (permalink)
blackberry
newport coast, california
 
Posts: 48 since Aug 2015
Thanks Given: 59
Thanks Received: 17

Did not do my homework on Tuesday night. {absolutely inexcusable behavior}. Wednesday morning I slept in. Then haphazardly attempted to wing the ES trade of the 30min candle in order to keep my stop loss tight. I did have a good signal and did place a good trade entry with a very solid stop loss. And since I had no homework preparation to back my claim. I started to question my trade and the moment that I was up two ticks, the plug was pulled. I closed the trade and then watched as the price of the ES rolled over. Never reaching anywhere near the 1pt placed stop loss. I'm such a head case!!! Since my commision is $4, per contract per trade, my overall profit is $8.50 for today. Do I know what to look for on a chart? Yes. Am I severely underfunded? Most definitely. Why am I doing this to myself then? Why not just add the extra cash intended for this venture and not behave so foolishly? Because, I believe that if I can overcome this obstacle that I'd be better prepared for even bigger psychological obtacles ahead.

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  #70 (permalink)
 
TheTradeSlinger's Avatar
 TheTradeSlinger 
Huntington WV
 
Experience: Advanced
Platform: TradeStation
Trading: ES, CL
Posts: 483 since Jun 2015
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blackberry View Post
Do I know what to look for on a chart? Yes.

If you can fully explain this, you have a real chance.

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Last Updated on September 15, 2015


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