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Hi Ash - Another thing I noticed on your losing days, the number of trades/contracts is much larger than on your winning days. So having a stopping point in terms of $ should help cut down on the number of trades on the losing days which I think will be helpful. I wonder on the losing days if you are trying to 'get back to even' which leads to more trade attempts, but on winning days you are quitting for the day while you are ahead (protecting your profits).
Thanks for taking time to share your combine/trading experiences with us here in your Journal.
i think i may also be able ot increase my profits if i just learn when to hold and when to get out. i currently notice that when i leave on target (2 pointss usually) the market will continue on much further, but when i get out it usually turns and goes against me.
Helllo! i enjoy posting here keeps me more accountable having everything out in the public haha. thanks for visiting my journal. i know no one else thats into trading so its nice to have content and conversations on futures io.
Yes it is true on my loss days i tend to lose confidence the more i lose and become more indecisive as trades going on and end up trying to break even and end up just losing more. on winning days i usually just walk away when it hits lunch time and i fear i may give back if i stay longer.
wass negative 600 today. i have a few more days before i have to start a new combine cause im confident im gonna lose some more haha. i said i was gonna stick to a daily loss limit but i didn't. to summarize today i just lost to the lower low higher high higher low lower high lower low higher high lower low lower high higher high. every new high and low stopped me out today. i saw a mega phone pattern forming low so i positioned for a decent move up but it turned around at break even. its so discouraging to upload during these down days.
it'ss been a week. some unexpected things happened and i have not been able to trade. i also forgot to post this morning. i kept trying to short the market today off the EMA's and i made 2 points at first then quickly lost it all until i hit negative 280. i would have stopped for the day there but i also knew if i stopped my account would have hit draw down due to my losing streak last time i traded so i decided to give into the bulls and trade long when i saw the break higher to the 2013 support level. and took 8 points woohoo im safe for now haha. feels good to be back
ps does anyone know what correlated to that up move it was crazy! and it also saved my ass. i could have held longer and just reached my target but i exited out of fear of a reversal lol
forgot to post yesterday was busy with some website stuff. Yesterday i only took a small trade for 2 points and ended at 112. Today i just rode this up trend up and up and up. got a 2 contract trade for 3 points followed by a loss for 1.5 points and then a small move up for 1.
I had this urge to fight the trend telling my self "its gotta reverse theres no way this can keep going up." but i reminded myself to trade with the trend until i lose and thats when it will reverse. i dont know how many times i kept trading expecting a reversal only to be at my loss limit when the move actually reversed lol.
also i finally opened an account for stocks with only 3k in it for me and my family. its not for trading we're just going to add monthly contributions into companies we like and hold for the long term.
Since i came back to trading i think ive been pretty good about my strategies. i trade what i see and catch myself wanting to gamble on reversals. i watch my risk and only take 2-4 trades a day regardless of how much i won or lost.
i attached my current trade report. my Max draw down is at 49699 and im not even close to getting back to where i was but this combine has lasted longer than any other combine Ive had so im proud of that haha.
Welp i lost my account today. This current trading combine was the best i've ever had lasted the longest learned the most and was the first combine i put on a futures io journal. I gambled a 5 point move at the end of the day hoping to make the remaining 2500 for my combine target, but unfortunately it stopped me down to my max draw down "49,660" and hit my daily loss limit shortly after. i originaly lost a few trying to go long expecting continuation lost a bunch made it back when i went with the bears but my final big 2500 trade ended up being a big flop haha.
I'm not mad or upset at all though. I didn't lose my account or make such a big gamble because of revenge trading or emotional bias. Due to some recent events ii just unfortunately cannot afford the monthly bill for my combine and canceled the cycle anyway. So i thought it better to at least try to make something happen rather than do nothing and lose my account anyway.
My final chart for this combine is posted below and seems to be a range thats breaking into a bear trend!
Like i said this last combine was the best i've had ever and i hope i will return soon but until then i probably wont be posting much on this thread. Thanks to everyone for responding and reading!
im safe for now haha. feels good to be back