The Race

[SIUYA 11]

. Key is fading the opposing trendline BEFORE the ultimate break. Hopefully it doesn't peter out to nothingness.

 

I wrote a silly little formula for myself the other day, your quote related to it.

 

Anticipation + participation + pyramiding = profits.

[Attila 10]

Traded like something I cannot say here on Monday.. Lost an embarrassing amount.. Then last night... Odds were excellent this declining TL would be broken upwards.. Instead of taking ONE trade and placing a stop beneath the dive low of 1175 I spent $350 in trades between 1177 and 1179. My 1.75 stop can only survive a dip buy but definitely not breakout trades.. Death by a thousand cuts or Nuclear? I wonder.

 

ES at 1206 as I type.. really hurts as I was stalking this trade for days (but wasn't sitting on my hands waiting and saving my stop money) Very bothered mentally.

Edited December 1, 2010 by Attila

[Attila 10]

I have come to the realization I am simply not ready to trade, definitely not in my current mental state. I thought I was but Monday showed I still lack self control. The amount of anxiety I feel when in positions much worse than before. Various factors likely responsible, possibly including trading in public. My recent financial debacle also has biased me mentally against the market's current level.

 

Turning a small amount into a fortune I still believe quite possible but the paradox is the smaller the amount you start with, the more important EVERYTHING lines up well. Including trader skill and a sufficient fall back savings. Most importantly there cannot be intense anxiety while trading. I've tried everything but it won't go away.

 

This one issue completely removes any chance of consistent disciplined execution and one I would rather not continue to try to fix in public.

Edited December 3, 2010 by Attila

[Attila 10]

Ran into this recently.. Lots of useful articles.. too many actually but one really stood out for me...

 

"The Three Vices Of Trading"

 

Brett Steenbarger Articles on Trading Psychology and Trading Techniques

[dwt 10]

Ran into this recently.. Lots of useful articles.. too many actually but one really stood out for me...

 

"The Three Vices Of Trading"

 

Brett Steenbarger Articles on Trading Psychology and Trading Techniques

Attila,

 

What a find! Thanks for citing this. I'm going to try to read a couple of these a day until I catch up.

 

Regards.

 

dwt

[enochbenjamin 10]

the new year is often the time for renewed vows -- i am convinced that i could be a super trader if i could just force myself to cut the computer off after 10 am.

 

so... my new years vow is to stop trading everyday by 11 am - no new trades entered after 10 am.

 

and with that being said - does anyone want to revive the race?

 

i will be funding a new small account with a new super cheap broker: generic trade... so if anybody want to give this thing a go again, i'm game!

[thalestrader 14]

and with that being said - does anyone want to revive the race?

 

I'd like to see some kind of contest, but The Race may have been too compressed and too restrictive. I know MightyMouse had some suggestions. I'd be open to setting up something similar that would run throughout the calendar year instead for only 20 weeks, and I'd perhaps rather than restrict account size, we could open it to anyone wiling to post a balance, and we could have two category winners - one based on % return, and one based upon nominal US Dollars.

 

I guess we should open to the floor for suggestions and to gauge interest.

 

Best Wishes,

 

Thales

[fxThunder 10]

I'd like to see some kind of contest, but The Race may have been too compressed and too restrictive. I know MightyMouse had some suggestions. I'd be open to setting up something similar that would run throughout the calendar year instead for only 20 weeks, and I'd perhaps rather than restrict account size, we could open it to anyone wiling to post a balance, and we could have two category winners - one based on % return, and one based upon nominal US Dollars.

 

I guess we should open to the floor for suggestions and to gauge interest.

 

Best Wishes,

 

Thales

 

This could be fun - lets see if there is any interest.

 

cheers,

fxT

[dwt 10]

This could be fun - lets see if there is any interest.

 

cheers,

fxT

Count me interested.

 

A FX dealer gave me $50 US to open an account, so I have $0 invested. Let's see now: @ 5% return / day my $50 would grow to $1M in only 203 days. Guess I better get busy.

 

dwt