Well, i'm still a fair novice at this trading game, but I am learning the "disipline" rule the hard way. I keep on falling into the "gambling" rather than "trading" trap, recently because I thought the "FTSE" must be going to go down big time i'll just add a bit more of a short there... and here's my last 2 months performance showing the result...!
BSD
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See I'm a technical trader so I could trade your equity curve but wouldn't do your financial situation any good as I'd have shorted that double top and be riding that on down 
Haha sorry inside joke.
Seriously, at least you're still in positive territory which is more than can be said of most, so you've done some things right.
Do more of what worked and less of what wasn't according to your plan and take it from there.
Punish yourself if you break your discipline, no wine, beer, girls etc.
And reward yourself if you strictly stay to the plan.
This time, lotsa wine, beer, girls, etc.
Good luck
Haha sorry inside joke.
Seriously, at least you're still in positive territory which is more than can be said of most, so you've done some things right.
Do more of what worked and less of what wasn't according to your plan and take it from there.
Punish yourself if you break your discipline, no wine, beer, girls etc.
And reward yourself if you strictly stay to the plan.
This time, lotsa wine, beer, girls, etc.
Good luck
See I'm a technical trader so I could trade your equity curve but wouldn't do your financial situation any good as I'd have shorted that double top and be riding that on down
Haha sorry inside joke.
Seriously, at least you're still in positive territory which is more than can be said of most, so you've done some things right.
Do more of what worked and less of what wasn't according to your plan and take it from there.
Punish yourself if you break your discipline, no wine, beer, girls etc.
And reward yourself if you strictly stay to the plan.
This time, lotsa wine, beer, girls, etc.
Good luck
Thanks, like the joke!
The first "top" was catching a falling "knife", told myself I wouldn't do that but I did!
Second "top" was adding more to shorting the "ftse".
Yes, still positive, and getting more disciplined!but as you can see i'm just playing with small money, til I get this right...
SuperDriveGuy
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Hi Leonard,
If its any consolation, I have attached my account graph.
All the best with your trading!
Regards,
SDG
Attachments
SuperDriveGuy
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Hi Rossini,
My problem is pshycological!
Can't admit that 3 out of 10 trades(or some such ratio) will be bad trades. I have to win on each and every trade, so I average down, which works most of the time, but when it doesn't, I take a real big hit.
Kept calling the top on the markets yesterday, being proved wrong all the time, forgetting my actual oscillator divergence strategy(which is a good one BTW).
I thought I'd console leonard and indirectly myself. I am down 95% of my account!
Regards,
GladiatorX
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Meh;
More looks like an equity graph of someone who doesn't have an edge and therefore has random big fluctuations of PnL ... Rather than any sort of problem with you. So it goes up... Then goes down... Then goes up....
Most people give excuses like psychology and bad methodology for these things; but its probably just they lack a real reason of why they should win; which is really about the difference between a trader whos trades have reasoning, and someone else; who trades because they hope their trades have a reason.
Safe.
(oh and ofcourse, this isn't neccesarily the case; you may be a wonderful exception, who despite having an edge; occasionally ruins it with indiscipline; but i think that the majority; who lose on 'discpline' were never winning in the first place)
More looks like an equity graph of someone who doesn't have an edge and therefore has random big fluctuations of PnL ... Rather than any sort of problem with you. So it goes up... Then goes down... Then goes up....
Most people give excuses like psychology and bad methodology for these things; but its probably just they lack a real reason of why they should win; which is really about the difference between a trader whos trades have reasoning, and someone else; who trades because they hope their trades have a reason.
Safe.
(oh and ofcourse, this isn't neccesarily the case; you may be a wonderful exception, who despite having an edge; occasionally ruins it with indiscipline; but i think that the majority; who lose on 'discpline' were never winning in the first place)
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GladiatorX
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95%??????
Discipline is required
Again; in this guys case; discpline is used as an excuse for a lack of knowledge, education, talent and skill ....
You acted NATURALLY INDISCPLINED because you were UNCERTAIN;
The reason you were uncertain ofcourse being a lack of knowledge, education, skill and talent...
You think 95% is lost because you were undiscplined ? Or would you have lost anyway; the only indiscpline was that you were trading without having made sure you were ready. Everything else is an expected response.
Does your mind IGNORE LOGIC & UNDERSTANDING; when your figuring out 2 +2 ? Do you become undiscplined and write down 5 ... No.
You lack the understanding and logic of the markets.
If you were not sure what the answer was .... Maybe you'd write 5. And YES you'd be WRONG; not undiscplined.
When driving a car do you randomly forget to steer ? 'God damn it; that indiscpline is back again' - Noooo because you KNOW that steering is a neccesity.
Indiscpline is so often an excuse for a lack of something else...
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elitejets
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This lesson might be the best one you ever had and the best money you ever spent! Good Luck
B
Black Swan
Masquerade
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No graph for me to post, but i've experienced something similar lately. It seems i'm a bit of a natural gambler and it's been crossing into my trading lately. Was going to create a thread about trading with demons. Hard to say about OP graph without knowing size per point.
You are probably partly right here, in that i'm not sure if I have an "edge" yet, hence why my biggest single trade loss has only been £37 ! i'm using minimum sized bets on a £500 account until I see the above graph smoothing out (upwards!) and my discipline to follow my rules intact...
Masquerade
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Is min bet 50p/point or £1?
50p (CityIndex)
Masquerade
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Yeah....find another account elsewhere - good chance you'll blow up unless you're really skilled. You're using too much leverage on trades I imagine and there's no flexibility.
GladiatorX
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Yeah; sorry i didn't mean to be so hard on ye' ...
Nice to hear your on a small account rather than paper trading, (or big size trading)
Keep it going. Although; i should say that you should have an 'edge' already; or a firm confidence that you have a winning approach; your 'small size trading' just being used to prove that you are right.
However; if this is not the case; then a bunch of experience will go towards your steps of building that confidence & finding your 'way'
Safe. I hope ye' do well.
When your size its small its easy to 'hold on just incase its a winner' Or add so that it wins; anything to make it look like a winner, because 'you may aswell, its only a £10' - So focus on staying serious, concentrating and on winning and ensuring that you are acting appropriately based on evidence rather than your feeling of your PnL.
SuperDriveGuy
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Its not been the first time, I hope to make it the last time.
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