Need more confidence and that's only going to come by trading the method profitably in consistent fashion.
It's going to hurt when I return to and pass equity highs knowing that the largest draw down within the equity curve is the only part traded with real cash, but that will only serve to confirm what the problem is... should that scenario happen.
4 comments:
Nothing wrong with going back to sim to reevaluate your trading. Trading can be a long and lonely road. Each time you think you're getting somewhere, you're knocked back. The most important thing is capital preservation and risk aversion, especially when trading on smaller timeframes.
If you've done well in sim and then not so well in live, is there any specific thing that was different? For some people the differences may be obvious, but maybe for you the differences are quite subtle?
Would be a shame for you to stop posting as I enjoy reading your posts. Even if the trades are small or on demo, it's not the amounts that are important, it's the honesty and the analysis.
Wish you all the best whatever you decide to do.
"If you've done well in sim and then not so well in live, is there any specific thing that was different? For some people the differences may be obvious, but maybe for you the differences are quite subtle?"
If I had to attribute it to one thing, I'd say not "minding the gap"- i.e not having a place (or at least not respecting the place..) where I'm unable to do anything to interfere. That comes from wanting to control what's going on due to fear/lack of confidence in the positive expectancy. I think I have a reasonable idea of the problem...more data may help with it.
Incidentally,yesterday saw a marked difference in performance.
I sincerely appreciate the positive comments regarding the blog. Thanks for that :)
If I'm being honest, I was hoping for a bit more interaction from fellow trader-bloggers...hence the room, poll etc. As you say, it's a lonely road!
The decision not to trade is just as important as the decision to trade (if not more so), especially when scalping. If I can get 5 to 10 decent little trades in a day at decent levels and which I considered had a good probability of success, then I'm happy. If I can have losing trades and not let it affect the next trade, then I'm happy. I'm trying to train myself to be selective as I come from a trading background that is quick fire nosebleed type stuff due to there being no barrier to entry.
I purposely don't talk about money or daily or weekly or monthly success or failure on my blog as I don't think it's all that relevant to readers. I may talk about risk analysis in the future, as I consider this to be extremely important, but I think when people don't really see numbers, they're not overly interested. If I put 'how I turned $100 into $1,000,000 in a month' there would be more interest, but that's not what's important. I like your blog as it focuses on the method and the fight that is trading, not on getting rich super quick with no effort.
Keep at it MM :)
This is really a superb thing to share. keep it up dear, i will revisit your blog.
Post a Comment