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A Beautiful Disaster - My Adventures In Trading Futures
Ok. Day 1 is over. What a beautiful disaster it had been. I broke **EVERY**, **SINGLE**, **RULE** I had set out for myself.
I over traded. I didn't adhere to stops. I was reckless. Why you ask? Over confidence on the simulator. That's why.
Just as an FYI, my rules were to make only **3** trades per day. I made 15. My other rule was to only play with **1** contract. At my desperation point, I added a second only to regret it. I'm actually shocked I came out as clean as I did today.
Punishment: No trading tomorrow (Friday). Going to clear my head until Monday.
I'm just going to outline the worst of the worst.
Day Starting Balance: $980.00
Day Closing Balance: $920.27
Profit / Loss: -$59.73
Trade # 1
Ticker: MYM
Entry Time: 9:32:55am
Exit Time: 9:33:57am
Shorted 1 @ 23,503
Bot Back 1 @ 25,543
Loss: $20.78
Comments: Ok. First **real** futures trade. Heart pounding a mile a minute (bad sign number one). The trade started going against me right away. I removed my stop (bad sign number two) hoping for a turnaround. Never got it.
Trade # 2
Ticker: MYM
Entry Time: 9:34:30am
Exit Time: 9:38:03:am
Shorted 1 @ 23,516
Bot Back 1 @ 25,567
Loss: $26.28
Comments: Ok. Second **real** futures trade. Heart pounding a mile a minute (bad sign number one). Lets bang our head on the wall and do the same thing all over. Lets remove our stop and hope for a turnaround...... deja vu... a nightmare comes true. I'm 4 minutes in and I'm down $47.06 between my first two trades.
Lets just skip trades #3 to #13 for now and go for the crescendo.
Exit Time: 15:53:57
Bot Back 2 @ 23,431
Profit: $35.44
Comments: Stupidest and riskiest set of trades here. My first trade went against me (again). I moved my stops (again). What the hell is wrong with me???? So I figured I would double down. Why not? I've been wrong all day, a broken clock is eventually right onces in a while. At its worst, my portfolio was down $219.50. I was numb. Not by the loss, but by my shear stupidity. Market eventually turned around and I ekked out a small gain.
Hope you enjoyed my beautiful disaster today. I sure as hell didn't.
Hi Tony. I also feel like the simulator started doing more harm than good. I just started live trading three weeks ago. I was a mess, with shaking hands and heart pounding. Took a few days (and some good trades) but it definitely got better for me.
Simulation works for testing out strategies and getting familiar with new market conditions without having to lose money.
Simulation performance is never testimony for possible real conversion, I've had quite a few of my sim accounts multiplied and rebooted and I'm not even consistently profitable trader yet. They certainly have their value, but it is not replacement for experience gained with trading real money. Only real money makes you sweat bullets and slap your thighs with both excitement and frustration.
I would suggest to limit number of trades you are taking per session for time being till you get hold of your emotions. I'm in between similar process
