NexusFi: Find Your Edge


Home Menu

 





Winning in Trading... and Beyond


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one iqgod with 148 posts (100 thanks)
    2. looks_two Mtype with 2 posts (2 thanks)
    3. looks_3 Devil Man with 1 posts (5 thanks)
    4. looks_4 GFIs1 with 1 posts (1 thanks)
      Best Posters
    1. looks_one Devil Man with 5 thanks per post
    2. looks_two mastercraft29 with 2 thanks per post
    3. looks_3 Mtype with 1 thanks per post
    4. looks_4 iqgod with 0.7 thanks per post
    1. trending_up 22,902 views
    2. thumb_up 111 thanks given
    3. group 17 followers
    1. forum 154 posts
    2. attach_file 63 attachments




 
Search this Thread

Winning in Trading... and Beyond

  #41 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097

To put things in perspective (and also, to highlight the EXCEPTIONAL folks):

Michael Marcus started out trading with $1,000 then lost it all. Then he proceeded to start over again with $3,000 and got that account up to $30,000. Then he borrowed another $20,000 from his family so he could bet his whole account on going long corn and wheat - he lost it all. Then he had to start over again with $700 of his own money plus his friend chipping in another $700 so he could have enough money to open up an account. That $700 turned into tens of thousands of dollars within a few years.

Richard Dennis, of trend following fame started his trading journey with only $400.


Thank My New Journal https://nexusfi.com/trading-journals/56579-just-being-trader-letting-go.html
Please visit and thank individual posts if you feel they are / will be serving some purpose for someone! Remember: Gratitude begets gratitude!
Visit my NexusFi Trade Journal Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
Deepmoney LLM
Elite Quantitative GenAI/LLM
Build trailing stop for micro index(s)
Psychology and Money Management
Ninja Mobile Trader VPS (ninjamobiletrader.com)
Trading Reviews and Vendors
Are there any eval firms that allow you to sink to your …
Traders Hideout
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
60 thanks
Funded Trader platforms
37 thanks
NexusFi site changelog and issues/problem reporting
24 thanks
GFIs1 1 DAX trade per day journal
22 thanks
The Program
19 thanks
  #42 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097

I used to be very very afraid AFTER there was a profit in hand. Here is how I would typically bail out ALMOST IMMEDIATELY following the breakout leading to profit. Every tick that went against me was a huge monster, my tummy muscles would contract as if bracing for a blow from a hidden enemy waiting to take out my stop.

Here are some examples:



Twitchy nervous fingers, unable to take the strain of a WINNER which MIGHT turn into a loser.

The way to solve this problem is simply to become well versed with YOUR strategy, and know about the market structure to be comfortable in the placement of the stop. This cannot be learned in sim, and has to be done in a small real account.

Here is a trade managed when there is confidence:



Here I waited for price to come to me and then entered on a valid setup at the EMA. My target was predefined - both these gave me confidence in the trade and in me.



Here are some crazy things that I was guilty of to FEED MY EGO and whenever I WANTED TO BE RIGHT:

Look at the huge stop to make one weeny tick winner:






Here is a proper risk reward ratio:




See the differences in both MY mindset and MY equity fluctuations?


Thank My New Journal https://nexusfi.com/trading-journals/56579-just-being-trader-letting-go.html
Please visit and thank individual posts if you feel they are / will be serving some purpose for someone! Remember: Gratitude begets gratitude!
Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #43 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097


The is justification in being a rock rather than being a reed and bending over with every implied change in direction.

Look at how this could've been a single trade if I would have had calmer nerves:



Thank My New Journal https://nexusfi.com/trading-journals/56579-just-being-trader-letting-go.html
Please visit and thank individual posts if you feel they are / will be serving some purpose for someone! Remember: Gratitude begets gratitude!
Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #44 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097

There is no benefit in trying to be a bottom picker:



Trade with the trend - be safe!


Thank My New Journal https://nexusfi.com/trading-journals/56579-just-being-trader-letting-go.html
Please visit and thank individual posts if you feel they are / will be serving some purpose for someone! Remember: Gratitude begets gratitude!
Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #45 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097

Too often we end up chasing the wrong dream - I am choosing simplicity over everything else



See how the trend itself makes you fear it - I certainly do! - those who exit early and those who trade against the trend usual pay the patient simple trend followers. I have experienced this many times over, yet there is that countertrend itch inside - a sort of fighting spirit but all that is needed is 'the courage to stand alone'.


Thank My New Journal https://nexusfi.com/trading-journals/56579-just-being-trader-letting-go.html
Please visit and thank individual posts if you feel they are / will be serving some purpose for someone! Remember: Gratitude begets gratitude!
Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #46 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097

Dreams too often end up being about money.

As traders we hope for reading the stars and pegging our lives and lifestyles and fixate on a certain 'income' that trading will eventually bring. Would $5000 a month suffice? Would then ten consecutive $1000 months make us go down a rabbit hole chasing wild trades?

Or perhaps if I am too conservative, will I be content with $10 a day and hope to survive?

When will the confidence in ourselves reach a breaking point? Basically, what is the hurry?

Do we simplify our lives to fit our trading income or do we become risk takers? Should we aim for wild hail Mary rides that make many times our targets and dream of them for the next 5 years? 10 years?

I keep realizing that we are very small beings swimming on a raft and the market ocean is a wild beast - all we can do is be brave, and simply execute a trading plan that we have committed ourselves to - we all know what that is.


Like Moana we have our personal Maui with us and all we need to do is say...

"I am Moana of Motunui; you will board my boat and restore the heart to Te Fiti"


Thank My New Journal https://nexusfi.com/trading-journals/56579-just-being-trader-letting-go.html
Please visit and thank individual posts if you feel they are / will be serving some purpose for someone! Remember: Gratitude begets gratitude!
Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #47 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097

Not much difference between traders and artists:



Stick around there... We all CAN do it.


Thank My New Journal https://nexusfi.com/trading-journals/56579-just-being-trader-letting-go.html
Please visit and thank individual posts if you feel they are / will be serving some purpose for someone! Remember: Gratitude begets gratitude!
Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #48 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097

One lot M6E - long, stress free:



Thank My New Journal https://nexusfi.com/trading-journals/56579-just-being-trader-letting-go.html
Please visit and thank individual posts if you feel they are / will be serving some purpose for someone! Remember: Gratitude begets gratitude!
Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #49 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097

The switches do the public in.... I closed out at the top - damn lucky.



Am long again at the EMA - two lots.


Thank My New Journal https://nexusfi.com/trading-journals/56579-just-being-trader-letting-go.html
Please visit and thank individual posts if you feel they are / will be serving some purpose for someone! Remember: Gratitude begets gratitude!
Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #50 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097




Thank My New Journal https://nexusfi.com/trading-journals/56579-just-being-trader-letting-go.html
Please visit and thank individual posts if you feel they are / will be serving some purpose for someone! Remember: Gratitude begets gratitude!
Visit my NexusFi Trade Journal Started this thread Reply With Quote




Last Updated on June 1, 2017


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts