Unorganised trading - the quest for success of a Doomed trader

june 2009 funded my account with US$3977.99.
(made a stupid mistake that cost me a lot. sent a TT of 6k in SGD! OMG WTF, so the US clearing bank ripped me apart and i lost probably 300usd in the process. DUMB)

Results- Aug to Sep 09

decided to set my trading results in stone. since i am so NOT organised and hoping i will take a closer look at my trading and be more disciplined.

starting from the 2nd funding.



attempting to trade DIBS. the infamous DIBS system by peter crown in this FF forums. did not have the patience. had a small profit of around $14 though LOL



after DIBS experiment, now trading the system im currently using. starting 17 aug 2009. going to update this journal this day onwards. wish me luck!



FF is a wonderful place. even though i dont hv the determination to finish most threads that i deem precious, i learned a lot. from guys like greg wilson, peter crown (especially), bemac, BRV, james16... and many more. wish all FFers good trading!

only $56.16 for the week. pathetic but at least didn't end up with a loss for the week.

for the week of Sept 28 to Oct 2 : down (-$58.05)
for the current week of Oct 5 to 9 : up $194.06 so far, Friday have not arrived yet.

these 2 weeks there were no discipline, when the gain gets larger, the more i am tempted to close my position too early. guilt sets in and decides to wait. so i was taking profit on positions that went further and taking full losses when i shouldn't have. totally lacking in discipline. disgusting.

i realise that i was also constantly thinking about my previous equity high. its affecting my trading such that any large retracement will shook my confidence. and i am now so prone to take small profits... just for the sake of attempting not to fall too far from the equity high. this problem is getting worse ever since i recouped the losses on the first account. gotta find a way to counter this...

this week will end early for me as i will be away for 2 weeks. that means I can only start trading earliest on 2 Nov 2009.

this week am still plagued by the discipline problem, watching the unrealised pnl float up and down simply makes me wanna do funny things to my orders. so as usual, cut my winning positions short and take full losses on losers. oh crap...

nevertheless still net about US$446 for the week. g/y has seen some choppy but large moves, someone definitely had a field day

Hi,

I'm in the same situation, more or less. Just can't believe we will not eventually succeed.

Good luck!
beam

good luck to u too mate!

maybe only an automated system will truly get rid of my discipline problem.

and i be away for 2 weeks, so i have no choice but to close all my positions and not open any new ones. but look at g/y!!! holy cow! i can't believe i am not in the biggest move i have encountered so far since trading it. i'm looking at a whooping lost opportunity cost of 2k usd. shi..................

back to trading after almost a month break in between. barely a week and i will have to stop again, maybe i shld really look into automation. researching on tradestation.

overly confident with my previous results and decided to up my trading size. STUPID decision. it just so happens the first 2 days are losing days, just when i up my leverage. no wonder so many traders always think the mkt is out to get you lol. in truth, the mkt doesnt even know you exist, retail traders are simply too small. so its all down to the guy himself. so in short, i screwed up LOL. so all in all, lost about 360usd in my "comeback week", have to stop again. hope i be back again soon.

was lucky to profit from gy's volatility this week after a few days of consolidation. missed some trades again due to ill-discipline. (always a problem)

profit about US$980 for the week, traded only on 3 days.




finally have a positive number for the Realized P&L section. hopefully it will be like tt from now lol

i think ull be just fine
just try to be a bit more patient

learning is obviously helpin u out big time. ur learnin from ur mistakes and the experience ur gaining is good too

most traders after years of trading still cant breakeven. im not even talking learning a system or having a plan or all that pretty stuff u see around the forum im talking about basic experience that a human being gains from doing routine for a while (watching prices, reading news, etc....) like basic knowledge u gain. even with that experience many traders arent able to survive. the fact that ur making profit is deff a good thing

try not to be affected by the cliches around. just because what u do might be a bit unconventional for the majority doesnt mean u shouldnt use it/consider it. the only trading way (i wouldnt call it method or strategy because its dynamic) that worked for me was something that the majority wont follow because of that human nature reaction to it being unconventional/wrong. ok enough about that i think u got my point

just do ur thang homie and ull be good.

hi boxing,

tks for the kind words. i do hope i can do better than "break-even" for the days to come lol.

GY's volatility seems to be tamed by the quiet dollar-yen. so decided to trd GU today instead as a proxy. got a nice gain but it seems i have got out too early again? mainly due to the previous obvious swing high. wondering if it will be a strong resistance point, didnt want to give back, probably shld hv scaled out instead of getting out totally?

still finding it difficult to really concentrate on the trading at hand. i guess this is the norm for most traders trading at home and not in a "workplace environment" ? found myself missing more and more trading days. the dec holiday mth is here, wonder if i should cease trading and start only in jan? maybe i shld carry on trading. since i never considered the effect of dec in my backtest anyway. any suggestions? do you continue trading as per normal?

equity finally breached the 6k mark... i still think i'm just lucky... i need more "lucky days" to prove i can really make it...

Most traders following quite a while of trading still can't breakeven. I'm not notwithstanding talking taking in a framework or having an arrangement or all that lovely stuff you see around the gathering I'm discussing fundamental experience that a person picks up from doing routine at a while watching costs, perusing news, and so on. Like essential information you pick up. Indeed, even with that experience numerous traders aren't ready to survive. The way that you're making benefit is unquestionably something worth being thankful for.

You could just take over this thread and pick up where Spice Monkey left off.

I'm sure he wouldn't mind..... he's been gone now 8 years.