trader_dante
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Post your P&L
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trader_dante
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lol It's funny how everyone remembers that but it doesn't really count as it was for charity so I wasnt trading that as conservatively as I trade my own funds for a living! I keep meaning to get back on that..I've still got a fair amount sitting there although I took a pretty nasty beating on that Dow position! That was some extremely aggressive trading. How you coming along £80?
Hi Trader_Dante,
I thought you traded your own funds very aggressively and that 1 or 2% risk was for losers (according to you) ??
I am sooo confused by your teachings.
One thing one day, another thing the next....
trader_dante
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trader_dante
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You and everyone else it seems.
Alas, I think it's only Dionysus that saw through my (perhaps feeble) attemps at humour.
In all seriousness though, as I've said many, many times, risk is completely personal and will differ from one trader to the next. You should base your risk on:
Your "edge" or expectation,
Your personal situation
Your psychology
And perhaps most importantly your desired outcome or the aim of your trading.
With this in mind, I trade different several pots of money with varying degrees of risk.
I ran into some problems (I doubted my trading strategy) then stopped trading for about 2 weeks to sort myself out and then started again right now I am just focused on raising more trading capital. As far as my trading is concerned I am doing great.
PS: that journal is the reason I am so passionate about my trading and that is why I am still trading
But to quote you "After that huge loss, I was subject to the whim of wanting to come back quickly and this fuelled a series of further bad trades."
So not really a long term position gone wrong was it?
More like a complete explosion of discipline.
My point being, that if this is evidence of trader_dante's wonderful power and educational wonder class, i am a little disappointed.
ps. £40 isnt really an account..... more like a casino balance. Red or black ??
.
trader_dante
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Well, the point being, I traded a long term position in an account that had been built successfully trading short term. Once I took that drawdown, yes, I definetly lost some discipline.
LOL it's not evidence of anything other than a few simple facts:
- If you trade well you can make money
- If you lose your discipline you can give most of it back
- If you recognise when you are losing discipline and get out of everything you can still end up just under 900% in the black
Agreed. The only difference being that in a casino you've got less than a 50% chance of hitting red or black. Whereas if you give me £40, you've got about a 90% of coming out ahead.
In my humble opinion of course.
Hi Trader_Dante,
I am sure it only became "long term" once you got offside and were too afraid to close out.
Anyway, I will follow your "Cash FX" thread with interest as it seems your trading style has gone thru many revolutions.
I am sure you will impress (all of us) this time.
.
I am sure it only became "long term" once you got offside and were too afraid to close out.
Anyway, I will follow your "Cash FX" thread with interest as it seems your trading style has gone thru many revolutions.
I am sure you will impress (all of us) this time.
.
trader_dante
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Hi Trader_Dante,
I am sure it only became "long term" once you got offside and were too afraid to close out.
LOL. I was trying to pick the bottom in the equity markets! You can take it from me that I wasn't playing it for a 50 tick bounce.
You are right, it definetly has. I was thinking this only the other day. I have had the great fortune of spending a lot of time recently with a very good trader and my style is developing under his "influence" shall we say.
Masquerade
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I'm not going to say whether I think he's good or bad at trading. But I think he can appreciate that one needs a fair amount of good luck to turn £40 into over a grand risking your account on every trade pretty much. That may not have been the best example you could have used for the argument.
Could this trader be Bashir ?
Bashir opened a live chat room last year to everyone to share his trading style on ES and ESTX50.
He is a nice fellow and aiming for pure Price Action on lower TF (volume bars I think).
I'm looking to read more on this iterative process you went through :smart:
trader_dante
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Hi Yamadao,
I've never heard of Bashir.
I can't really say much on here but I will send you a PM in a while.
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