hard lesson here on the systems and even I fell victim to it.
It's also a good lesson for folks to realizer that closing out
manually changing exits over time you generally just spin your
wheels and many will actually cause themselves to under
perform.
My choosing to close that ES short a couple days back - I should
have just kept it. And closing out the last 2 Straps on that
previous week causes us to not participate in Monday's
rally.
again if I perceive risk I will still elect to do some of these
things, especially things like taking 1/2 off, but otherwise this
is an example of where me going against the systems was the wrong
call. Sorry about that guys.
A lot of respect for you sharing this, Matt! Anyone in the game
regularly takes their lumps, as you pointed out some days back, it
is about the batting average in what makes someone successful over
a period of time, be it a ball player, trader, etc.
And not to mention, look at the performance of your track record
this year with the systems and market calls, you have had a
tremendous year, and helped a lot of people. There are many people
who have had a very disappointing year and you actually have a lot
of subscribers who have made good money, myself included. Thank
you, Steve, and your team!
REALLY appreciate the candor and I think a trader can't grow
without analyzing like this. To me it's not about who made the best
call when, it's about how to use the past to make the future more
successful. The systems are pretty cool and probably should
be left alone but the emotion it must take to do this (especially
when you have subscribers that rely on it) has to be over the
top.
We are lucky to have you willing to share these systems and your
thinking on how to trade them (in real time)!
On another note, I was totally ready to take a decent short
position yesterday on some big divergences on the indicators but
held back due to the put/call being so high. It confused me so I
just decided to do nothing....haha, kicking myself today.
thanks guys, and I don't hide things and sugar coat them, I make
mistakes just like anyone and at times fall prey to emotions during
trading - everyone does at times.
I think it's important to not ignore these things and reflect on
them and use that lesson to hopefully do better next time
the systems have been outstanding this year of course
The Stoch Short that is still active, is currently meeting exit
conditions and looking to close out today. Again on the
website I had closed it but for anyone who did not and is still
following it, FYI, it's likely to exit today. I know at least one
of you guys asked me to keep you filled in on when this system
closes
Comment about systems
Posted by matt on 15th of Dec 2022 at 10:03 am
hard lesson here on the systems and even I fell victim to it. It's also a good lesson for folks to realizer that closing out manually changing exits over time you generally just spin your wheels and many will actually cause themselves to under perform.
My choosing to close that ES short a couple days back - I should have just kept it. And closing out the last 2 Straps on that previous week causes us to not participate in Monday's rally.
again if I perceive risk I will still elect to do some of these things, especially things like taking 1/2 off, but otherwise this is an example of where me going against the systems was the wrong call. Sorry about that guys.
A lot of respect for
Posted by fundamentalvalues on 15th of Dec 2022 at 10:24 am
A lot of respect for you sharing this, Matt! Anyone in the game regularly takes their lumps, as you pointed out some days back, it is about the batting average in what makes someone successful over a period of time, be it a ball player, trader, etc.
And not to mention, look at the performance of your track record this year with the systems and market calls, you have had a tremendous year, and helped a lot of people. There are many people who have had a very disappointing year and you actually have a lot of subscribers who have made good money, myself included. Thank you, Steve, and your team!
REALLY appreciate the candor and
Posted by cozz101 on 15th of Dec 2022 at 10:11 am
REALLY appreciate the candor and I think a trader can't grow without analyzing like this. To me it's not about who made the best call when, it's about how to use the past to make the future more successful. The systems are pretty cool and probably should be left alone but the emotion it must take to do this (especially when you have subscribers that rely on it) has to be over the top.
We are lucky to have you willing to share these systems and your thinking on how to trade them (in real time)!
On another note, I was totally ready to take a decent short position yesterday on some big divergences on the indicators but held back due to the put/call being so high. It confused me so I just decided to do nothing....haha, kicking myself today.
thanks guys, and I don't
Posted by matt on 15th of Dec 2022 at 10:12 am
thanks guys, and I don't hide things and sugar coat them, I make mistakes just like anyone and at times fall prey to emotions during trading - everyone does at times.
I think it's important to not ignore these things and reflect on them and use that lesson to hopefully do better next time
the systems have been outstanding this year of course
Ode to elementsix on 12/8
Posted by 24kau on 15th of Dec 2022 at 10:11 am
Ode to elementsix on 12/8 -- Lesson: Stick with the Systems. They work .
The Stoch Short that is
Posted by matt on 15th of Dec 2022 at 10:08 am
The Stoch Short that is still active, is currently meeting exit conditions and looking to close out today. Again on the website I had closed it but for anyone who did not and is still following it, FYI, it's likely to exit today. I know at least one of you guys asked me to keep you filled in on when this system closes
regarding the systems. first off
Posted by matt on 15th of Dec 2022 at 02:22 pm
regarding the systems. first off NO NEW systems showing any triggers today
as I commented earlier, that Stoch 60 Short on ES will be closing today, so if anyone stayed with it, congrats, it's closing today
I don't see a second entry on this SPY bear long, but I imagine one could come any day
shows the closed out Stoch
Posted by matt on 15th of Dec 2022 at 05:26 pm
shows the closed out Stoch 60 short
It's fine example that it's
Posted by retirefire on 15th of Dec 2022 at 10:07 am
It's fine example that it's hard for anyone. Glad to witness it.