(binned per thread starter’s request) CookieMonsta's Journey Into

Hello CookieMonsta,

I'm still hovering over

If it's business, then it must be about making money. If you make it, OK. If lose, not OK. P/L of your business model in Live shows rights or wrongs. To You (that's important).

On the other hand, sometimes critique makes boost and improve the model. For some criticizing, it's difficult to comprehend. Either they have their own model and can't see anything else workable because they are the only , or yours is (seems) too complex. And in this business it's not bad if you know MOs of your critics, if they are indeed fair in exposing themselves, shouldn't you make use of them?

Myself, I don't care since it's just a hobby, a little & humble ant levels (thus I'm and will always be wrong), should remain like

All the best to you.

P.S. And, yes, words can kill... Therefore, silence is golden
https://www.youtube.com/watch?v=fsX_L-7w4r4

Hi exnav,
Thanks for the reply.

In truth. I know their mo. The J guy, if you observed, is using stoploss. This already contradicted the other mo. But i didnt go and force him change back, i never ever go and question or force my opinion on him lile he did to me. Why? Deep down i know, he found his niche, he keeping his loss small, good for him, im happy he made it, its his mo, which maximise his potential.

Me, i understand why he do that, want to protect from overloss, i dont even question him why must put stoploss. I trust he has his reason. And we can agree to disagree abt the stoploss issue. I treat him like a rational adult who knows what he doing and is doing it because it is part of his mo, and it helps him out greatly. You dont see me pushing him to change his mo just to suit my idea of whats "correct", now that would be a huge ego right there.

But there is something inside which shows, is fear. Fear and doubt. He keeps talking about following the market, is not wrong. But anslysis can only bring you so far. Even worse is, if market wants to consistently shake you out, the assassin formation, that is his mo's major weakness. You know why i know? Because his exact mo is my first mo i figured in the first year of trading. Except i realized that its not my style, i kept making profits but couldnt keep it. Means i need to work on retaining profits. Is just like a manipulator trying to play on your doubts and fears to mislead you many times. And i only trying to show him. I overcame it my way, by having a strong mindset, lock position to buy time, cool down, and maneuver strategically. This one, will bring you very far. Because now, you dont become a slave to manipulators. You can bring solid skills against their cheap tricks, by covering your exposure first, ease bleeding, let them paint how they want, when they cannot do it anymore, and have to clean up, then you unlock and move in and rescue or attack. It gets you out of very tough situations while exposing less.

And 1 thing. I know fear when i see it, and i instinctively stop listening when i sense what others say is full of fear. Fear will lead you to very dark places if you let it. Makes you think that you have no options, when all you need do is calm down, ease off and think properly. This is infact a very self destructive behaviour. And if you let it bleed into your mo, and if you doing something like rescue, that one will cut you very deep. Can be fatal. In fact, the level headed thing is to ease bleeding, reduce loss and size then work from there, works like a charm everytime. There is no ego, loss and size is in control. And you are not desparate. Very difficult to get splashed, because the mo is based on keeping size and loss in check, with effective means to skew down no matter the terrain.

This is what i observed many many times in the thread early on. Many blew up and splashed because they hit too high a skew and terrain and size got out of hand till they cant manage and blew their account. The big guy can try argue all he want, i dont care, fact is, this IS a huge issue, i try fix it make it stable for my own use so i dont blow up like them. Words are cheap. When you have consequences, your responsible for your own actions. Makes me wonder why he cant see why some chose to leave, maybe they did the rational thing that if they cant handle it, they prefer to conceed and find another way more suitable for themselves. And that is good, they are protecting themselves, not blindly follow and blow up and start playing the blame game. Funny when you blew up, they say you have a bad mindset. But when you made it but have to change some parts of the mo to not blow up, they say you not correct and try correcting you. Seems alot easier to just walk away.

Part of the issue also is this, their management scope will assume i dont have a job and is trading full time. But im working full time so my management time frame has to be 4hours or less otherwise i need effective ways to protect from overloss. If you went in to read from first page to last page. You will see the big guy has to leave an account down there from i dont even know when, not trying to be mean or anything but if i follow that, then that will be me next doing the same thing. If you see what they say and see what they do, they always chalk it up to scorpion, i dont think thats acceptable. I think thats an excuse for a lack of control. You see the way they speak its as if, " opps i made a mistake, ah well, not gonna do it again," then i see it again, always chalking it up to scorpion again. I trying to steer away from their path less i made their mistake. They already showed me what their path leads to, why would i follow suit? Just that out of respect i dont critise them for it, its them who keep making things ugly for me, i take a step back, explain nicely why not, and they keep pushing forwards and want to force me to become aggressive. The big guys mindset is already broken big time, i spotted it a long long time ago, at this point, its self destructive, to be honest i dont think he understands what compromise is, even the markets will ask to meet you half way. Point is, i understand that some parts of the mo is just not for me, simply doesnt suit me, i cant seem to use it well, so i just compromise and find alternative ways which works for me and market shows me it works and works well for me. What do you expect me to do? Follow them and then regress back to possibly losing money? And you dont see my blaming em, i just go figure what i can do to improve my mo.

And btw thats not the only time they exposed their account like that. Theres another episode of the manipulator part, the exposure is bother line rogue trader in my opinion. But then again its their choice, its their money, i respect their autonomy. But i expect them to respect my choice to prevent myself from landing in those situations.

Me, i studied their mistake because i saw them do it, and my current mo factor that in to shield me against that, thats why i dont want to follow them and make those mistakes. Its meant to steer me away from those kinds of issues.

Sure the mo has its advantages, but it will come with its set of requirements too. Its like asking a trader who has a good knack for trend trading to trade mean reversion. Why would he do that? I mean unless he wants try expand his skill set. But otherwise he would prefer to expand on his own potential?

Hello CookieMonsta,

Thank you for your diligent feedback. I'll try to return it the same open-minded way.
First of all, we all have come here for our own individual benefit (whatever the purpose and interest). FF is not a charity entity. And this is a public forum.
Next, I would split the issue as two fold.
One is my reaction to any sorts of discussions when I'm personally addressed. I try always pragmatically find out the core of the matter I could exploit (trading or life). Next, if see kinds of provoking, insulting, etc., I either shut up or turn it to joking or playing clowns. Since it's not serious but a game here. Perhaps, it's not fair, therefore I'm considering quitting public fora or reducing my presence to the absolute minimum.
My issue is that I have plenty of time available but cannot find how to realize it effectively.
The other one, I didn't mean you should follow. And I got that you do exactly what I had implied - make use of their MOs and shape your individuality fitting way.
For more than a decade I have not found MO that would be perfectly working for me, I'm still making mistakes.
Sometimes I am simply giving the broker spread, commission and a couple of Euro surrendering my scout; sometimes I may be surrendering two or four scouts and then re-entering and counterattacking; sometimes I am turning on wind (having locked or cut), even twice or trice; and more often I'm squaring right before PA moves significantly in my previously planned route (don't stick to my guns, though) just for peace of mind or being tired...
Yes, I have time but my energy batteries and focus are getting lower (still sad to realize it and accept as truth), so the ambitions are almost null. Thus, probably I'm not the right fit for trading. It should not be a hobby but business.

I hope that you are doing well and keep it growing so to make your life happy.

Having expressed that I would like to thank you for all the cooperation through these three years and wish you success in life and trading. Do always have a fair wind.

Best regards,
Exnav

Well, yes, FF is not a charity entity, and no one is obliged to help me at all. And from my postings where these incidents started, I don't think I asked for help. I'm actually really keen on working on the issue by myself alone, it give me much needed intellectual stimulation to keep me interested. Just that when I worked it out, it excites me alot because it's my custom strategy which I worked on, success brewed by myself smells the best. And till now I still cannot understand 1 thing, aside from the money, the market is an intellectual challenge. I come for the money, I stay for the challenge. I challenge myself to keep my risk very small while making good profits, while dealing with situation which seems really really difficult to handle.

Well, as for insults, I try take a step back, just that I hope they don't force my hand and know when to stop, I already give them leeway, so things don't turn ugly, otherwise then they gonna see what they saw.

Well, in truth there is no mo, is more of your knowledge of strategy and read of market plus what you feel comfortable doing, so is more of a reflection of where you are along the learning curve, as you learn and become more experienced, doing it becomes easier and easier as you feel more comfortable as it's becoming 2nd nature to you. And this will mutate and improve as you gain more lightbulb moments.

But I do get that you feel tired and am treating this as a hobby, sometimes I do feel like maybe taking a break, which means this can't be a full time endeavour. But then again, it depends on what you looking for in trading, if you only looking to make some side income, sure why not, it's a hobby that pays you, and if you aren't making it a full time endeavour or make it such that your living income depends on it, it really makes it less stressful and makes trading more enjoyable.

End of the day you gotta do what feels good for you, and so long as you don't blow out, get burnt out or trade so close to financial ruin that you effectively destroyed yourself, I think your in a good place. There really isn't any point in pushing yourself too hard to make the money, and end up strangling yourself. Working hard on strategy on other hand is good, it usually reduces risk and increases profits, and as you get better, the situations get more and more relaxing to handle, as now you have more tools to manage the situation.

Well thank you for your support too, and I wish you all the best on your Forex journey.

https://youtu.be/hzFl0uDwAQY

The most important resource you can and will ever have, time and skill. Money is the result, focus on building your mind and time and everything else follows. With money you can only do so much, with time and skill, you can do alot more.

Hi Cookie and Exnav..
..you guys made a very good point in a few of yours post's above.
True so, we have to do what suits us. We have and we need and we must modify any strategy on a way that she reflects our needs our MO and our satisfaction with any profit we made. Nothing is written in the stone forever, there is no dogma in the trading that we must blindly respect as a ultrasuperior commandment.
I am not trading full time...i am not overtrading or overanalyzing also...I am pulling trigger a one or two times per week and that's all.
There is no stop loss in my trades, because i have to find out what is on a left side of the chart i have to identify major trend (if there is any), i have to detect a minor trend which suits my trades, i have to identify a price levels, possible S&R zones, i have to consider ADR...and so to find out where i will place my order..
i have to see and interpret a groups of candle sticks i have to see how accurate they was in the past..and many other facts we have to take into consideration...
If it is all good..i have to pull the trigger and i have to drive because i am on the steering wheel...
I see what you are doing Cookie...you study the mistakes and trying to optimize and to lower your risk and to increase the profits...
About insults...I am peaceful and friendly person..i like good joke and good wine..but i will sometime strike back to those morons..i don't care who they are...respect is something what i can't give or take away from somebody..respect is relationship between people...
So..don't give up guys..heads up and squeeze some pips from market....
..have good day...

Hello The 7th Torch,

Thank you for your kind input. It's valuable indeed.
I don't want to be hypocrite with you and reiterate the statement made on the Friendly COAs thread: stage and players. E.g., we are acting as Cookie, 7th and Ex here And that's the only way I am participating in public fora, especially, FF, at my minimum. Just for fun and good healthy exchange like right now. Because... trading live is a serious business, though.
And... I never give up, but adapt and go ahead. As in life, in order to survive and live happy we go our own way (in mine, A. compromises and humility are not excluded, so B. have gone through all-in in order to succeed). However, with aging the A is prevailing.
Remaining a humble tiny ant here.

Enjoy your games...

P.S. Minimum on FF (AoW by ST)

Thought I would never be back, but then again, lol.

Just need an outlet.

Sigh, seems like in the corp world, it's everyone for themselves. And I'm not even talking about trading professionally. Never been there, never done that

Seems like when you try help peeps you thought was friend because they got into trouble. Now, maybe got backstabbed and you watch them do the same thing. What a life, maybe the simple life is best afterall. Make money alone then have separate friends which have no conflict of interest is best.

Maybe someone upstairs showed me way out is through trading and sharpening skill. To be honest I'm grateful to those who showed me way to trade, it helped me pull through, even through the trade war. Many thanks and my gratitude.

Results been fairly consistent so long I can hold on to risk threshold.

Hi CookieMonsta

good to see you back my friend, great to hear you doing well too.

i am away atm and not trading, will be back next week, hopefully catch you around sometime.

regards

Phil.

Hi phil,

Great to see you too.

Catch up with you too soon.

Something on the nature of diabetes.

https://youtu.be/1a2Fsfa8e4I

account baseline was approx $1000, split into approx $200 as trading account, approx $800 as reserves being parked outside and will be put in for margin capital if required, say if free margin is near 100, i can transfer additional 100 or so in to remain liquid.

reason why the p&l graph kept going up and down, coz kept withdrawing and depositing to manage balance as a way to manage account exposure.

total trading duration, 3 days,

.

First time managing an options wing fly position

PA looks like potential break out, thinking of adjusting this way, essentially, tp the current short call for $4 and sell the further out call 320 for 2, and get a break even trade, while short side is not adjusted, meaning my upside if there is a breakout in the entire month will have no risk at all. however, if i take profit now and wait for awhile and let the gamma side kick in, i could get more premium sold and get a free spread potentially, now the r&r is really in my favour to adjust from potential loss to no potential loss position.

or i could let it run 1 more day.

downside seems to be tested, @ 200, short 1x spot around $200 eth notional at price $206.30.

if they do break down successfully, i will look for cheap hedge to lock the position's upside risk in, maybe to see if i can get 2x cheap units to hedge out the upside risk and it becomes a riskless position by attempting to box the position out. deliberating about the position.

Ok re rolled position

Bought back spot for 6+ dollars, close around 199.xx

Closed spread 240/280 credit spread for 1.90 gain

Entered new spread 200/220 for 7.10

Unable to do the above as call hedge still expensive.

Original exposure was 7 dollars, now up 6+ for spot, got 1.90 for credit roll, now max exposure is 6.57, plus 1x puts at 100 that's $1, net total position on expiration is gonna be up at least 0.90

Further adjustments later if suitable, or can reinit more since it's riskless now wrt p&l

Idea for next move, if possible when price is at 180 or 220, move to box position up, have chance to roll for credit.

awesome day, total account size is larger, margin for trading is 200, kept withdrawing profits to the segregated account so the sawtooth p&l
23 trades with 21 winners of 91.3% accuracy rate.
total winners 122.88, total loss 0.71

all of today's trades
the usdcad was a small scalp and then calling it a day

lots of places to improve, for example i should try to hold on to winners more