mastermind - I know you went though some tough times, but you've
been a champ about it and openly discussing it, many would not.
it's not fun man, but we all go through it. I know Steve and I
certainly have had to learn the hard education in the past.
Honestly with trading, it's almost a right of passage, you have to
get your ass kicked and sometimes a few times before you finally
start changing up how you do things.
that's why brand new traders - the worst that can happen is they
do very well right from the beginning and build their account way
up - they are then vulnerable to losing most of it because they
never went through the hard lessons, and now when they do it will
be on a large account - better to have gone through it early on
when their account was small when they first started
for me one thing I had to do was cut down the amount of
positions I was doing: I'd build positions and eventually have 30
and 40 stocks I'm trying to manage. That's just asking for trouble
and when the markets start to really move against you, you can't
manage it. That said, I'm referring to manual trading - I have
systems automated on probably 30 instruments in Tradestation but
they are automated so I don't have to go in there and manage - and
a system is running them so they already have the discipline and
stops, so it's fine if they are automated.
The other thing is to place more money into trades and patterns
that are exceptional, that you have high confidence in. So if
you are placing 10K into standard patterns and trades, but you
happen to see a textbook perfect ideal pattern (coil, flag etc)
that looks like supermodel or so good that you would include it in
a book on technical analysis - go heavier into that
trade.
Posted by mastermind on 13th of Mar 2025 at 02:51 pm
Thanks Matt. To be clear, I had a great period the last few
months of the year. But as has happened in the past, I failed to
cash in enough chips at the top and didn't adjust as the market
changed. So yeah, I've given a lot back and that's what I need to
avoid. And you are right - I try to manage too many stocks, which
works in bullish times as there is constant rotation and recovery;
but not so great when the trend changes. I plan to hit reset and
refine my strategy once this long awaited bounce finally happens
and the systems exit ( I have added index exposure on every new
signal). And maybe MU can give me a bailout next week.
Posted by patellee on 13th of Mar 2025 at 03:01 pm
Hang in there mastermind. I feel ya. Every time I
think I've adjusted, I learn that I haven't adjusted enough.
I rarely do discretionary trades anymore. Even in this
down trend I've stuck to system trades and to the same position
sizes that I have for the past 2 years knowing these things don't
hold for longer than 2 weeks generally. Guess what, this time
I was wrong. Like you, I am in all the systems just waiting
for the bounce while my options decay. So after the systems
exit I need to update my strategy. Unsure what the learning
is this time around.
If this rally materializes, give
Posted by mastermind on 13th of Mar 2025 at 02:31 pm
If this rally materializes, give me some credit for finally taking on some hedges today.
mastermind - I know you
Posted by matt on 13th of Mar 2025 at 02:40 pm
mastermind - I know you went though some tough times, but you've been a champ about it and openly discussing it, many would not.
it's not fun man, but we all go through it. I know Steve and I certainly have had to learn the hard education in the past. Honestly with trading, it's almost a right of passage, you have to get your ass kicked and sometimes a few times before you finally start changing up how you do things.
that's why brand new traders - the worst that can happen is they do very well right from the beginning and build their account way up - they are then vulnerable to losing most of it because they never went through the hard lessons, and now when they do it will be on a large account - better to have gone through it early on when their account was small when they first started
for me one thing I had to do was cut down the amount of positions I was doing: I'd build positions and eventually have 30 and 40 stocks I'm trying to manage. That's just asking for trouble and when the markets start to really move against you, you can't manage it. That said, I'm referring to manual trading - I have systems automated on probably 30 instruments in Tradestation but they are automated so I don't have to go in there and manage - and a system is running them so they already have the discipline and stops, so it's fine if they are automated.
The other thing is to place more money into trades and patterns that are exceptional, that you have high confidence in. So if you are placing 10K into standard patterns and trades, but you happen to see a textbook perfect ideal pattern (coil, flag etc) that looks like supermodel or so good that you would include it in a book on technical analysis - go heavier into that trade.
Thanks Matt. To be clear,
Posted by mastermind on 13th of Mar 2025 at 02:51 pm
Thanks Matt. To be clear, I had a great period the last few months of the year. But as has happened in the past, I failed to cash in enough chips at the top and didn't adjust as the market changed. So yeah, I've given a lot back and that's what I need to avoid. And you are right - I try to manage too many stocks, which works in bullish times as there is constant rotation and recovery; but not so great when the trend changes. I plan to hit reset and refine my strategy once this long awaited bounce finally happens and the systems exit ( I have added index exposure on every new signal). And maybe MU can give me a bailout next week.
Hang in there mastermind. I
Posted by patellee on 13th of Mar 2025 at 03:01 pm
Hang in there mastermind. I feel ya. Every time I think I've adjusted, I learn that I haven't adjusted enough. I rarely do discretionary trades anymore. Even in this down trend I've stuck to system trades and to the same position sizes that I have for the past 2 years knowing these things don't hold for longer than 2 weeks generally. Guess what, this time I was wrong. Like you, I am in all the systems just waiting for the bounce while my options decay. So after the systems exit I need to update my strategy. Unsure what the learning is this time around.
I too am in all
Posted by icecoldjones on 13th of Mar 2025 at 03:38 pm
I too am in all the systems and praying for a SUPERBALL SIZED BOUNCE!!!!