Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Did you include slippage and commission costs? These costs will be a profit sucker.
And I'd hope you traded it for more than 1 day - 1 day means nothing really.
Finally, sim trading and real money trading are a ton different. Put it this way: I know a lot of sim trading millionaires, but very few real money trading millionaires.
Just trade it with one contract for a while and look what happens. Everybody has his own mental flaws and hidden ways of self-sabotaging and they will start to come out as you go.
If your rules work in sim, they will also work in live-trading, but it will get more difficult to stick with them, especially in a losing streak, and your perception of your setup will start to alter with increasing risk of real money.
Be prepared for moments when your brain goes into a confused and almost paralyzed mode, and have a plan at hand what to do then to not lose your shirt. Don't underestimate in which weird dimensions of your mind trading can take you when you start losing, which inevitably will happen.
Try to focus not on making money, but on losing as little money as possible.
Lost first 2 trades of the day.
Yesterday gave me a small cushion, and so I went in on the open today, could have been stopped out with 10 points, but I was slow at moving my stop-loss higher.
The second trade, was about following momentum and not strategy.
On setups that had high conviction, 2 contracts were used. (Only 1 trade for the day)
My strategy got me out of my losses. +1 strat confidence
Today the market received a Bad Unemployment number.
3 Trades
2 Wins
1 Loss
For my first trade, I was able to grab a couple points off the open, unlike yesterday so I'm Happy about that.
My 2nd trade was only 1-2 points, because I was concerned about a pop, the pop happened, so I'm happy about seeing that.
My loss today was a learning lesson. we had failed to receive an EMA test on the way down and so when my setup was forming it fell apart due to an EMA test needing to happen. I get it, I'm just happy about being able to realize this.
