Thanks, I never even saw that "achievement collection" before, and yes, I do have an update. I was put in a "live combine prep" stage that almost mirrored my combine except in addition to having a $1000 a day loss limit, you also have a $1000 week loss limit. So, if you lose $1000 on a Monday you are essentially done for the week. That additional constraint initially had me concerned but ended up not really coming into play -- it actually helped because I initiated my own lower loss limit which I had never done before. Also, they wanted me to run up profits of only $1500 in any amount of time and if I was able to accomplish that I would be taken live.
Well, after about 7 days I had about $1200 and they called and said they were pleased with my performance -- I think I was in the green 6 out of those 7 days -- and they were ready to take me live; all I had to do was submit my trading plan. It was at this moment I had a "moment of clarity" that I really wasn't pleased with my current method of trading -- I was essentially scalping or holding trades for no longer than 5 minutes -- and wanted to complete my transition to being a harmonic trader and trading less often but with more size. I told them I would like to spend some time working on this and they were all for it, told me to take my time in the current stage.
Long story long, it takes more than a few weeks to become competent at a new trading style and I got hurt with losing day after losing day. After a few weeks I told them I would like to go back down to the combine and work on some stuff because it makes no sense to go live just to lose money and have to start all over with that weighing on me. They totally understood but said they would give me time to work on my trading still in the pre-live level -- very generous of them. Anyway, after a few more weeks things haven't quite come around yet and I contacted them again stating that I wanted to go back down to a larger combine and just work my issues out in that manner. They agreed and hooked me up with the combine I wanted and I start that this Monday.
People might think I'm crazy to not have gone live when I had the chance but I really wasn't happy with the trading style that got me there; it seemed too stressful. I had come across some literature as well that said my trading style just doesn't last in the long run, thus, I would be better off making the change sooner than later and that change can't be made with money on the line. I've already lost a high five figures of my own money, several years ago, and I'm not diving in again until I feel totally comfortable with my methodology. So, I'll keep at it, I'm improving daily, and I'm fortunate enough to have a couple of commercials each month to pay all the bills! My time will come.
Last edited by HollywoodTrader; January 6th, 2013 at 02:26 AM.
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Sorry for sounding like a tombstone engraver, but I believe you have truly found yourself and set yourself free from mediocrity with the above post.
In the long run, I believe deep within that making money is a minuscule byproduct when it comes to trading - in fact I even believe in a till-now-unspoken corner that I discovered trading and stuck to it because it stands for the ultimate path to achieving self-realization.
It is said that everybody ultimately gets what they want from the market.
The gamblers get the heady rush.
The scientists get the ultimate mystery to solve with a ready laboratory to test out their hypotheses.
The patient investors get steady growth of wealth and time to enjoy that wealth.
And the scalpers get to know in a few precious moments whether they have achieved self-realization.
Everybody gets some easy money. Everybody who works hard, patiently perseveres, stays sane, and ignores the quick money, that is. Which means that they also ultimately discover that trading is the hardest "easy money" they ever made.
You are one of a kind. We, here at Big Mike's, are proud of you.
If ever there is a 'Trader's Walk of Fame' in LA you are entitled to a star with the title of this post as a readymade engraving.
Last edited by iqgod; January 6th, 2013 at 06:21 AM.
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Your post reminds me a bit of a thread that was very popular on here called, "Catching Big Waves." Gary, the originator of the thread, documented week after week his successful live trading in the oil market . He had a great system and could consistently make anywhere from 20 to 50 ticks a day. He appeared to have a sizable account and seemed to be making decent profits . Everyone who read the thread was impressed by Gary...except Gary himself.
Even though he demonstrated he had an edge, he was unsatisfied because he felt he should be holding his trades longer and going for much bigger targets like 100 tick moves , etc. He then started to berate himself daily..even when he made great 20 tick trades. He felt that he needed to change his style...never mind that he was getting results..that 95% of all traders would have loved. You could see as his journal progressed he was at war with himself. He became convinced that holding trades longer and having huge targets was the only way he could call himself "successful."
Then he started to lose his edge and he became less consistent. It was almost maddening to watch. All because of some "concept" he had of what good trading is supposed to be. Well, in my opinion, good trading is achieving consistent results..regardless of the methodology. Who cares if you're a scalper or a swing trader..What are your results ? That's really what counts.. Otherwise, you join the majority of retail traders on Forums that are always seeking the Grail and switching from one system to the next..wasting years of time and effort. If you find something that works....stick with it.
Anyhow, back to Gary..if you read his thread, he finally has a meltdown and decides not to honor his stoploss on one trade (Presumably because he read that Pro traders don't use tight stops) and he loses virtually his entire account on one trade. And now, he apparently quit trading. It was painful to read because the guy had all the potential to make 2 or 300 k a year, but he couldn't see he had already found his edge.
Now, I'm not comparing you with Gary..nor do I even know if you already have a consistent system or not. Maybe you just had a good streak going. But if you truly did have an "edge" and you find after a period of time that your new method isn't giving you good results, I hope you have the common sense to switch back.
I hope you don't mind my comments.
Failure is not an option
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And this is why they shouldn't doubt your decision. Even if we can't always apply it, abide by it, or live by it I am convinced we all know that we have to find our own way, the right way for us. Time spent carving your own niche will pay off so much better than leaning on a quick fix. Kudos for doing right by you. And kudos to TST for helping accommodate your ongoing progress.
This definitely still applies. And without knowing any details of what you were doing, it could be that you can get the best of both worlds - mold the successful core of your previous method into a lower-stress version.
Sounds like a good deal. Thanks for the update and I look forward to seeing more updates of your progress
Take care and best of luck in your pursuits!
Luck is what happens when preparation meets opportunity. ~ Seneca
Last edited by omni72; January 6th, 2013 at 02:43 PM.
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Today I received a notice from TST regarding my questions on the new data provider (CQG) for Ninja Trader and the new 'minimum day' Combine model:
So I'm really looking forward to the end of the month...and I still intend to take my new and customized 'minimum day' Combine with NT,
and now I'm waiting bravely and patiently for any good news and my new start date...
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