Fade Me or Trade Me: On today's episode of FMTM, I am short Gold. Ask yourself, WWJD. No, really? What Would Johnny Do? Will you fade me or trade me?
https://www.tradingschools.org/reviews/crude-oil-trading/ I am not endorsing this system, and wven the author admits the edge will run out, but it is a good primer for those of us who do not know how to backtest. What I really love is the fact that the author demonstrates a filter to turn the system off when the edge disappears.
For the sake of parity and liquidity, I will trade the regular wheat and corn contracts. YW and YC, the minis, have large spreads.
It's great to read the thread of a veteran who is doing a come back. From what I get : you blew up big quiet a few times, now you are getting your finances in order, so as to start again. Just for my own curiosity : - you are working on the technics of your trading. May I ask, without being in any way disrespectful if I do not express myself well, as I only learned some limited English grammar and syntax : you have done technics for over 14 years at least, why do you think that the technics is what is really causing problems in your trading and prevent you from blowing up again?
Veteran would be overly generous. That would imply that I was successful. Personality quirks caused the blow ups, and yes, day trading specifically. After a lot of introspection I have decided to swing trade, but I am also attempting to add fundamentals to the mix. This is a work in progress and I thank you for your input.
Well you have seen it all in the market, and have much more experience with at least 14 years under the belt. That is unvaluable. You talked about personality quirks causing the blow ups : what were these personality quirks? in what ways did they show up in your trading, and did you think they affected your trading?
My first blow up was caused by averaging down, lesson learned. My next b/u was being over leveraged, and the final time was from revenge trading. The final two were what I call personality quirks, and the first was simply a lack of knowledge. While I get my finances in order I will have time to see if I can paper trade successfully for months on end. I did have one successful period where I obeyed the rules of my system for a year and a half trading stocks, limited my trades, and took stops religiously. I believe I can do that again if I find a legitimate way to profit from the futures markets. If not, plan B would be to fund a prop trading account and return to stocks.
People in 12 step programs would have a different view of my quirks. Overtrading and being over leveraged may be seen as signs of a gambling addiction, but I think it was simply hubris, not truly understanding the potential consequences.
I have heard of the 12 steps programs. Mostly for alcoholism. I did not know it existed for gambling addiction. As you mention this program, did you check with them to find out that you did not tick gambling addiction caracteristics?