Friday, March 16, 2012

Profits

This is a grand occasion, as is everyday I find myself alive and still breathing. I'm 1 step closer to consistent trading, 1 step closer to being able to refund my account and print money like a fucking printing press, 1 step closer to being able to tell my boss harold to fuck himself. Over my last 17 trades I have managed to squeak out a profit of +6.75pts, or +$337.50, this is across 3 days of data, that's powerful coz my ultimate short-term profit goal for trading is to consistently take in +$500.00 a week, and +$2k a month on 1 contract. I can accumulate those profits trading 1 contract and with only 1k to start in my account. I just gotta make sure not to encounter large swings in my equity curve, and that can be prevented by gaining hardcore skill in simulation. This puts my simulation account somewhere in the $3,900.00 area, which is a promising recovery so far. In total I've taken 169 trades in my little simulation experiment and I've become more conservative lately. I'm feeling pretty good right now, earlier I had losses, I reviewed them, pondered them, and came up with some solutions, then implemented those solutions and now I'm sitting on a decent profit after 17 round turns. Still looking over my recent trades I've noticed plenty of mistakes, and if I had been on my A game, I could have made anywhere from 2x - 3x what I actually made, mistakes seem to be inevitable and unavoidable, and there is still tons of room for improvement. My goal for my next 17 trades is to make fewer mistakes and maximize my gains, while trading like an ice cold robot, void of emotion. As long as variance is normal and I don't get super unlucky and I trade well, my next 17 trades should net me anywhere from +6 points to +20 points. Another thing I'm happy about is that my fear of the market continues to diminish, I've taken hundreds, and hundreds of trades throughout my trading adventures, I've always been nervous pulling the trigger, but that's finally starting to go away. I think one way to reduce fear is to trust yourself, you need to define your risk and trust that you won't move your stop no matter what happens, you also need confidence that your edge is real, those are probably the most important factors that reduce fear.

And now some dubstep.

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