@rocksolid68 - Well done on your trading room. I have attended each session so far this week and it is interesting to see your perspective. It is also nice to see that you are quite humble about it and are quick to admit when you are wrong - not easy to do when your reputation is at risk and I hope you continue in that manner.
Regarding your P&L - you give your entries and exits publicly in the room. I see no reason for you to keep a summary, unless you really feel the need to do so. If you do not wish to display your size, just keep each trade at a 1 lot size. 1 lot for the initial trade and 1 lot for each additional add. That way, you can have an unaudited track record for the room which will allow you to keep a running P&L of the trades you showed to everyone. However, any member of the trading room can also do this themselves and you should not be pressured into doing this unless you feel the need.
Regarding other people just following your trades - Let me quote Ed Seykota, "Everyone gets what they want out of the markets." If someone wishes to learn from you, then they will. If someone just wishes to follow your trades, then they will - even though you make it abundantly clear that they should do their own trades on their own analysis. You are providing the platform for traders to learn from, but self-confidence (not arrogance), discipline, skill, etc. are all things that you cannot give to others - so don't let that distract you from the good job you have been doing.
The following 12 users say Thank You to grausch for this post:
:congrats: Hey RS, only caught the last 30 mins of room today
Hey RS, only caught the last 30 mins of room today, was great. I am a bit older than you, very impressed with your market knowledge and discipline for your age. Do you still trade as a funded trader with TST, I am guessing not, if not to personal of a question, can I ask why you do not trade with them now.
The following 2 users say Thank You to kburks for this post:
Coming from someone that has failed over a dozen of them, I have a few tips for you.
First off, you will have the best chances of passing the $150,000 combine over any of the other ones. You have a MUCH larger drawdown which allows more room to work. Think of it like this: taking a trade with a 2-tick stop loss or a trade with a 30-tick stoploss. Which one is more "comfortable"?
Also, trade a minimal amount of contracts. Just because you can trade 15 contracts doesn't mean you should. You just have much more volatile PnL swings which is not good for an aspiring trader.
Lastly, make sure you are comfortable! You need to be confident in your trading. VERY confident. Once you are trading a combine it is very similar to trading live. There are a lot of emotions. Be confident in your methodology/trades and stick with your plan.
Best of luck my friend!
The following 7 users say Thank You to rocksolid68 for this post:
I do not trade with TST. I built my personal account to a point that I was comfortable trading so I did!
I no longer wanted to lose 20% of my profits. However, I believe that leveraging someone else's money with no downside risk is quite the interesting topic. I think that it is a really awesome thing that is available to us.
The following 2 users say Thank You to rocksolid68 for this post:
One thing to add to this regarding shadow trading- One will never own the idea and will never believe in its merits; Therefore, at the first sign of trouble, they will abandon the idea and move on to the next which is what I was really trying to say above (the above came out kind of negative- didn't mean to sound that way)
The following 8 users say Thank You to Inletcap for this post:
Just read your whole journal. Great stuff! I will try to attend Monday's trade room.
I'm fairly new to the forum and trading in general. I've been learning and trading Sim for about 6 months now. One thing I'm struggling with is managing my time between school and trading. Do you have any advice on how to balance your time between school and trading?
The following user says Thank You to qqqdog for this post: