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thalestrader

The Race

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By the way at this rate (about $60 daily) it will take 45 years to get to a mil, so get on with it! ( are those feathers I see?).. BIG numbers... ;)

 

Nice try. You can't frighten me with BIG numbers.

 

FORTY-FIVE Years !!!

 

No dear Attila. More like FOUR-point-FIVE Years. ;)

 

I'll be even slower than $60 ...

Let it just be a daily net profit of $40 ... $200 weekly... or $800 monthly.

 

The attachments shall do the explaining.

 

What I am more concerned about is, what a Million US Dollars will be worth in 4 years !!!

Hope they don't end up being just pocket change. :haha:

 

-----

 

This is the first time I am calculating for a Million dollars.

Normally, I keep my calculations to 25k as that's my current goal.

Whether I make $100 a day or $100 a week, I can reach there in 3-6 months.

 

Currently, all I am trying to do is "consistently follow my plan". The money will take care of itself. :)

 

-----

 

Reminder:

Earlier in the thread, I did mention that the reason I am sticking to scalps for this month, is because of home activities that I am required to attend to everyday during my trading hours.

Yesterday's $60 were made while helping Mom pack her bags, a visit to a doctor, having dinner, and more.

Atleast another $75 were missed because I had to cancel the trades, as I was leaving the computer.

 

No trades taken today - 09/17.

 

-----

Million.xls

Million-A.thumb.jpg.98828231f74f2cec36e8554c26d4d7c4.jpg

Million-B.thumb.jpg.60f2d12cc2e8210c8299496f138b1f62.jpg

Edited by ekshay
Attachments Updated

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ekshay.. was just pulling your leg..!

 

Trust me I know the pitfalls of flying too close to the sun!... One key element though as you can see from my week is not to make scalps so small a routine losing day engulfs a week of scalps. Sometime a scalp has an illusion of safety. There are days when the markets are clearly trending and offer a bit more than a scalp and more can be taken... THE pitfall this can lead to is forgetting the long-term plan to drop back to taking only what is on offer when the grind returns. And very smart to lay low when your undivided attention is not possible.

 

That said long-term planning VERY valuable as it calms the trader which reinforces selectivity... All IMIO of course! ;)

 

 

Statement for 09/17.. shoo second page, shoo!

1.thumb.png.fcbb6c3ca0af839c30a098ffeedb7eeb.png

2.png.e09bc852dc4059443dfe74ea43183b42.png

Edited by Attila

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ekshay.. was just pulling your leg..!

 

Trust me I know the pitfalls of flying too close to the sun!... One key element though as you can see from my week is not to make scalps so small a routine losing day engulfs a week of scalps. Sometime a scalp has an illusion of safety. There are days when the markets are clearly trending and offer a bit more than a scalp and more can be taken... THE pitfall this can lead to is forgetting the long-term plan to drop back to taking only what is on offer when the grind returns. And very smart to lay low when your undivided attention is not possible.

 

That said long-term planning VERY valuable as it calms the trader which reinforces selectivity... All IMIO of course! ;)

 

 

Statement for 09/17.. shoo second page, shoo!

 

Attila,

If you tried to fly close to the sun, you would first freeze beyond anything knowable on earth. The end would be the same but the means would be rather different. You would orbit as a solid mass for eternity. Make sure you put a stop in before you try.

 

MM

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When I was little I used to watch the Kung-Fu series with David Carradine and I remember Grasshopper having to close his eyes to make him see. With my eyes open and the markets going up I am hopeless. Meanwhile the system rakes it in because it cannot think or see.

 

I have tried to go blind by going to one timeframe and audible signals only... but the pull to "see" more is so strong, and once I go there, non-system trades show up.

 

Must add some more... A good bit of the time the system seems so WRONG but in 15 signals since last week there have been TWO clear losses.. what more could a trader ask for? Problem is it skips some trades that work out and sometimes I front-run it and get rewarded..

5aa7103103dd9_HOWNOTTOTRADEII.png.c0c5f85c5e594796a855a2049d1be32f.png

Edited by Attila

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When I was little I used to watch the Kung-Fu series with David Carradine and I remember Grasshopper having to close his eyes to make him see. With my eyes open and the markets going up I am hopeless. Meanwhile the system rakes it in because it cannot think or see.

 

I have tried to go blind by going to one timeframe and audible signals only... but the pull to "see" more is so strong, and once I go there, non-system trades show up.

 

Must add some more... A good bit of the time the system seems so WRONG but in 15 signals since last week there have been TWO clear losses.. what more could a trader ask for? Problem is it skips some trades that work out and sometimes I front-run it and get rewarded..

 

After procrastinating for a long time I finally wrote a little script that alerts me to a possible trade (visually and audibly.)

 

Nevertheless, I still did some trades against my signals but a lot less than before.

I think that it will take some time to root out the instinctive/anticipatory trades but I think that I found something to guide me in the right direction.

I don't know why it took so long to get to this point but I am glad that I am here now.

Gabe

Edited by Gabe2004

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When I was little I used to watch the Kung-Fu series with David Carradine and I remember Grasshopper having to close his eyes to make him see. With my eyes open and the markets going up I am hopeless. Meanwhile the system rakes it in because it cannot think or see.

 

I have tried to go blind by going to one timeframe and audible signals only... but the pull to "see" more is so strong, and once I go there, non-system trades show up.

 

Must add some more... A good bit of the time the system seems so WRONG but in 15 signals since last week there have been TWO clear losses.. what more could a trader ask for? Problem is it skips some trades that work out and sometimes I front-run it and get rewarded..

 

You really should take your trade and go take a walk with your stops and targets in. You will appreciate the conversations you have with yourself during those moments. You will be shocked at what happens to you, regarding your trading.

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Have you given any thought to the race that we briefly discussed at the beginning of this race?

 

No, I haven't. I think that it could be a good contest, but I think any contest would be better attended and maintained if it were administered by MMS and the TL management. My time has once again come under significant pressure, and I feel bad about having to withdraw from the original race, especially after its "reason for being," i.e. sicktrader's promise of sharing money management miracles, disappeared into the electronic haze of the internet.

 

Best Wishes,

 

Thales

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You really should take your trade and go take a walk with your stops and targets in. You will appreciate the conversations you have with yourself during those moments. You will be shocked at what happens to you, regarding your trading.

 

 

As we all know, in order for real change in results to occur, real change in process must. There is a pretty good trader on ET (Lescor) that avoids monitoring his platforms to avoid meddling and possibly ruining trades. So accepting our flaws, automating as much as possible and having a life is the ticket as you have rightly inferred.. again.

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Statement for 09/20 and Today's Journal..

Managed to take a signal (there were only 2 within the periods I trade)!! Needless to say it was a short.. Today REALLY shows clear system trades. Very simple.. a useful (long..) Trendline is broken then trade the first reversal back to the Moving average.. Missed the Fed-stivities but that's fine.. I think NQ controls the Market on the long side so we'll see what that 2000 touch turns out to mean.. All depends on AAPL though.

1.thumb.png.507a479e8620bbd781b9a663b226cec2.png

2.png.09d84dc254655c64dc7a39400850c51d.png

5aa7103194e4a_9-21-2010Journal.png.951eeeaa5f7e205d9ca963351334fee9.png

Edited by Attila

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I simply refused to do what I should do.. After watching all those points go by I am wondering when the system trade is coming, so I take bad trades.. It finally comes, and sure enough IT has missed nothing.. True to form another winning trade, eerily effective. Why I went long just after the short signal?? I just don't understand why I can't follow it. Will continue to follow it's results and perhaps I will gain confidence with more data.

 

This has been quite humbling.. Simulator here I come until I can be successful there won't be trading cash..

 

ekshay.. it's all yours for now.. it's a race of 1 again..

5aa710322d39b_9-22-2010Journal.png.b3b6e58faf12a783c4dbfe259a9bee09.png

Edited by Attila

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Expecting a better outcome this time as I have a more settled mind than last time, when I was battling banks to save the house (lost it anyway), looking for work, and a myriad other evils. To say that was a pressured time is an understatement.

 

No race goals now and could have started a new Thread but have chosen not to. Not bothered one bit if any others contribute in any way. I have switched mostly to ES from NQ as ES appears to be less crazy being more liquid AND not as focused as NQ. Ultimately a better barometer of the whole market. At this point the risk is unhealthily high for the account but I will manage until 5k, where the risk reaches my target.

 

Week Start $1934

Week End $2682

 

9 trades for the week, no doubt helped by Thanksgiving. The 1.3717 Euro short and stop out the pain for the week... I knew it would likely reverse in that area (we all did) but I did not wait for the turn.. oh well. Got the loss back and some on the 1.33 bounce trade. Goal to under-trade, relatively speaking, with a slow account build.

5aa710488538e_11-27-20109-00-00PM_Wk_Summary.png.5f0199c83be02268e310e5e38afa1639.png

5aa710488bac9_AttilaEquity.png.c240f0e95b4c0126ad38f3aafada81fc.png

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Expecting a better outcome this time as I have a more settled mind than last time... To say that was a pressured time is an understatement.

 

There are few folks in any endeavor who would have been able to muster themselves to perform at a high level of focus and discipline under such circumstances as you labored. Had I known at the time, I'd have urged you to save your initial grubstake, stop trading, and come back to risk only once your situation was resolved. Your outcome this time around may or may not be better, but it certainly has a better chance of a achieving a more favorable result. I know I am not alone in wishing you well in your current efforts.

 

Best Wishes,

 

Thales

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Yes Thales, borderline stupid.. but it worked for a while though not long enough to reach escape velocity.

 

ES Symmetrical building. shouldn't be long for resolution and 20 point move. Key is fading the opposing trendline BEFORE the ultimate break. Hopefully it doesn't peter out to nothingness.

5aa7104898d9b_ESWedge.png.c68ea9400bf1b1706340b21705030ef0.png

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