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Old 12-06-2022, 10:04 AM   #166
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Now I see why a long was taking so long...not a good day to be long...yet...lol
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Old 12-06-2022, 02:57 PM   #167
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I am determined to go long at some point...lol...maybe try and catch a dead cat bounce...
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Old 12-06-2022, 04:30 PM   #168
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LONG RTY 1813.40
stop @ 1802.80
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Old 12-07-2022, 09:35 AM   #169
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This has been quite the lengthy trade, hasn't it? Still holding long...
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Old 12-07-2022, 06:15 PM   #170
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This has to be the longest lasting trade I've posted here to date, and it's done nothing so far...lol

Just gonna let it keep going for a while until it either gets stopped out or something actually happens...lol
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Old 12-07-2022, 08:14 PM   #171
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Quote:
Originally Posted by PaceAdvantage View Post
LONG RTY 1813.40
stop @ 1802.80
Stopped out @ 1802.70

P/L = -10.70pts

Record = 8 for 31 | +52pts | +$2,600 per contract
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Old 12-13-2022, 12:28 PM   #172
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Here's an interesting tale...

So my automatic system went long ES @ 4046.75 at around 7:30 this morning...with a 6 point stop at 4040.75

You all can look at a chart and see what happened next. Futures shot up to 4180 and have since given it all back and then some, and I got stopped out for a 6 point loss on a trade that was up almost 140 points at one time. That's a lot of money to make and then give right back in about 3 hours time.

At around 9:40 I got a signal to go short RTY...but I DECIDED NOT TO TAKE IT because I was long ES and it was up BIG TIME

Now I am kicking myself in the ass as hard as I ever have...not only could I have hedged some of the gains in ES by going short RTY, I would be up about 40 pts in a short that has the potential to be HUGE...

I think I'm going to be sick actually...

If you have a plan AND IT'S WORKING, NEVER IGNORE A VALID SIGNAL

EVER

IDIOT
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Old 12-13-2022, 12:31 PM   #173
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For the record, the valid signal I ignored was a SHORT RTY @ 1882.40 with a stop @ 1906

currently up 41 points
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Old 12-14-2022, 02:03 PM   #174
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still would have been short this one...this might hurt real bad depending how the rest of this afternoon pans out post-rate hike
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Old 12-14-2022, 08:21 PM   #175
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still would be holding this short...still kicking myself in the ass...wonder how long this will last?
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Old 12-15-2022, 10:04 AM   #176
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yep...still woulda been short...looking at 80+ pts now....that would have really looked good on the old resume...
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Old 12-15-2022, 11:37 AM   #177
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I hope this thread serves as a cautionary tale as to what can go wrong when trading.

TRADING PSYCHOLOGY is something like 80% or more of the BATTLE here.

Your head will FUCK you out of $$$ so many times as a trader if you can't get it under control, and obviously, even I still have issues and I've been doing this for over 20 years now.

For the 3 people reading this, pay attention if you don't already have this under control.

This missed trade is up almost ONE HUNDRED points right now...

100 point trades don't come around often, and if you miss one, you're kinda screwing yourself big time. I can't emphasize this enough if you're a trader who follows some sort of rigid method like I do here.

My head convinced me NOT to take this trade simply because I was long ES and up big in that trade at that moment. I convinced myself the market was going to go up the rest of the day, so why should I short RTY and potentially give back some of the profits I had in ES at that moment?

I considered for a few moments taking the trade as a HEDGE, but then unconvinced myself because hey, I'm a genius at this moment in time, right?

WRONG

Once again...the moral to this story is this:

If you have a method that is WORKING, like I have in this thread, you DO NOT, under ANY CIRCUMSTANCES, ignore a valid entry signal.

Just don't do it. You're not smart enough to PICK AND CHOOSE which signals might be winners and which ones might be losers.

If you were smart enough to do that, you wouldn't NEED a rigid method. You could just trade by the seat of your "brilliant" pants and make $$$$$.
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Old 12-15-2022, 04:48 PM   #178
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update...still short on the theoretical missed trade...up 100pts now...looks like it's going to be "theoretically" closed out sometime tonight...









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Old 12-15-2022, 05:46 PM   #179
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according to JESSE LIVERMORE "WHEN YOU KNOW YOU ARE RIGHT, YOU MUST SIT TIGHT".
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Old 12-15-2022, 05:53 PM   #180
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Quote:
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according to JESSE LIVERMORE "WHEN YOU KNOW YOU ARE RIGHT, YOU MUST SIT TIGHT".
One of the best books I have ever read: Reminiscence of a Stock Operator.
(Supposedly, about Jesse Livermore.)
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