Ready or not, I went live 7/27

Discussion in 'Index Futures' started by DougStewart, Aug 4, 2017.

  1. algofy

    algofy

    Another comment, you say on the first day live you slept late and was hungover...seriously?? Talk about self sabatage. Believe me, this concept is very real.

    There are pros doing this 16 hours a day. You will get your lunch eaten being sloppy and lazy like that. You're account is as good as gone if you don't take it more seriously than getting drunk and sleeping in.
     
    #21     Aug 4, 2017
  2. ET180

    ET180

    I fully agree with nonlinear's comments above. Thanks for sharing, but why not get an IB account and trade tiered so that your commissions drop to around $0.35 per trade. Then instead of trading a full ES contract, just trade 20 or 30 shares of SPY. Less slippage, less commission, and most importantly less risk. You'll still get to trade, but will be able to think a lot more clearly without the significant risk. Get your system down so that it feels fully mechanical before risking more money. When you start out you'll make mistakes. Better to make them with a small amount of money than a large amount of money.
     
    #22     Aug 5, 2017
    VPhantom and johnnyrock like this.
  3. Simples

    Simples

    @DougStewart : Do you do review after day / week and could share this in your journal?

    Ie.:
    What did you do, how and why?
    What was the result?
    What did you feel, during and after?
    Were your expectations met?

    You need as close feedback-loop as possible in order to learn rapidly. Also you need to minimize risk as much as possible in order to learn for longer.

    I'd forget trying to explain Wife. Make an arrangement where you keep your nose out of her business, and she keeps her nose out of yours. But make sure she can depend on you, no leverage or loans (respect yourself and respect her, respect the limits)! This is a real risk for her as your wife, and the best way to make sure at this point for her, could be to divorce you.

    This venture, while to you it may seem like a playful adventure, at some point in the future could become a huge economic liability. So even though this may not be a problem to you as you treat this as a proper business, people around you need some reassurances.
    They may probably never fully understand what you do (hopefully you will!).

    Do you have limits based on daily / weekly losses?
    Do you have time-limits (plan B if this doesn't work out)?
    How about psychological limits (stress levels)? You don't want to drink as a means to cope!
     
    Last edited: Aug 5, 2017
    #23     Aug 5, 2017
  4. tommcginnis

    tommcginnis

    Two thoughts:

    Many people have recommended Process over Results.
    Going for solid Process will get you the Results you seek, but
    going for Results is usually death.

    If you think of yourself as a predator, remember that predators go for easy prey.
    They do not go for the biggest, the spryest, the shiniest coat --
    They go for those who will go down easiest, and not injure the predator: they cost too much blood. KEEP YOUR CAPITAL.
    If the easy prey you seek are not around, seek different prey --
    *Always* be assessing which prey have the numbers which allow easy feeding.
     
    #24     Aug 5, 2017
    VPhantom and beerntrading like this.
  5. comagnum

    comagnum

    #25     Aug 5, 2017
  6. motif

    motif

    You're quickly finding out trading is gambling.
     
    #26     Aug 6, 2017
  7. Hello,

    You should considering automating your trading system for the following reasons:

    1. Remove emotions
    2. Remove failure to follow rules problems
    3. Stop disappointing your wife because of your error manually trading.
    4. You can back test your system to see if it produce money in the past.
    5. Free up your time.

    Treat trading as a business. If you worked at a hedge fund and you loss $2000 your first week of work, they would fire you because you came to work with a hungover and fail to follow the rules.

    Mistakes cost tooo much money.
     
    #27     Aug 6, 2017
  8. Jdesey

    Jdesey

    #28     Aug 8, 2017
  9. algofy

    algofy

    Me thinks the wife ain't happy....and when the wife ain't happy....
     
    #29     Aug 8, 2017
    Jdesey likes this.
  10. motif

    motif

    Another day trading casualty.
     
    #30     Aug 8, 2017