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… and why it's not as fancy because it appears.
I posted first two weeks earlier with the disclaimer about the way it's paper buying and selling and the way I do know it’s, surprisingly, not actual, not as simple when it's actual and all that jazz. That is purely for validating buying and selling technique, fairness curve, expectancy, me holding monitor and attempting out aggressive cash administration technique with geometric progress. So… :
third and 4th week of April:
The third week of my journey began slower and ended up ridiculously excessive, primarily as a consequence of luck (Thursday) and sizing up (Friday – extra on that later). Usually I used to be proud of my buying and selling, was following my guidelines, my set-up and technique fairly effectively, despite the fact that nonetheless making errors I have to work on and undoubtedly have to keep away from in actual buying and selling.
The fourth week began off fairly effectively, I adjusted to buying and selling two contracts effectively. On Tuesday I used to be fortunate sufficient to catch some good strikes, together with 3 tremendous fast traded totaling 116 factors of the Microsoft and Alphabet earnings throughout after-hours run-up (and giving -10 factors again immediately as a consequence of a sudden surge of greed :). Wednesday, regardless of the nice total P/L end result, was horrible. I closely overtraded, revange traded, lower winners fast and let losers run, was scalping 30s-1m trades to make up and it was solely coincidence it ended up effectively. I'm effectively conscious that with actual cash and feelings, I'd be really down closely. But it surely was a great lesson and good humbling slap, that is precisely whereas I'm paper buying and selling and can proceed doing so till days like this is not going to be there, mentally-wise. Thursday was once more fortunate by way of positive factors as a result of I hit some good trades and likewise the impulsive craze run-up of Amazon in after-hours the place I set TP nearly completely on the high (71 factors in 1m30s). Friday (as we speak) was much like Wednesday mentally, although not as unhealthy, and once more, fairly fortunate with actually good P/L as a consequence of sizing as much as 4 contracts (extra on that in cash administration half).
Outcomes of the primary month:
It took me 14 buying and selling days to double up my account (2k -> 4k), total 18 buying and selling days to triple it and total 20 buying and selling days to get it fourfold (i.e. 2k ->4k in 14 days; 4k ->6k in 4 days and 6k->8k in 2 days). That's total return of 317% with present account stability of $8366.75
Cash administration technique:
I began at 3/31 with $2000, reached $4000 on 4/20. I traded 1 contract of MNQ thus far. In response to my technique, I went for two contracts after reaching 4k, on Friday 4/21. With buying and selling two contracts of MNQ, it took me 4 buying and selling days to realize one other 2k. In response to the technique, after reaching $6000 (from yesterday 4/27), I began to commerce 3 contracts of MNQ. As I reached $8000 throughout as we speak's session, I sized-up to 4 contracts.
General, this aggressive fixed-units cash administration technique did effectively, with the luck and coincidence of market's situation I unlocked the total potential of its geometric progress and it actually may be seen on the fairness curve and whole positive factors. One mistake was most likely sizing up mid-day buying and selling (as we speak from 3 to 4 contracts) and never from a brand new day, because the drawdowns with 4 contracts had been typically greater than positive factors from 3 contracts from earlier within the day. The overall acquire – each share and dollar-wise – was a fortunate coincidence of normal luck and lots of coincidences. 🙂 I believe such positive factors in small account aren’t as spectacular, there was an enormous stimulus in type of earnings and as a consequence of pure luck there have been no main drawdowns, during which case the technique compounds positive factors actually extremely.
What was good:
The principle outcomes I'm targeted on had been all good. Expectancy for the month was +43.86%. Fairness curve appears good in addition to each day and weekly P/L and efficiency to benchmark. I don't look after the loopy positive factors in % and $ as I do know it's not actual and in no way sustainable. What I'll be extraordinarily proud of is when my expectancy stays optimistic, fairness curve getting in the best path and danger of wreck remaining zero. The remaining will observe.
What must be improved:
Truthfully, all of the newbie errors. I do know I've accomplished all of them and in a critical scale perhaps in 5 days out of 20, which is means too many. If I used to be buying and selling for actual, there could be danger of psychologically cracking and blowing up the account or taking a giant L in scale of a number of days acquire. I obtained out actually fortunate all these instances and that won’t occur each time. Have to work on feelings, cease shifting that bloody SL, belief my technique and simply go in at my sign. Let the winners run longer. Cease being genius of hindsight and woulda coulda shoulda kinda man.
Targets:
Work on and enhance all of the issues talked about above. Protect optimistic expectancy and fairness curve.
Purpose for the month of Might : Climb the ladder to six micro MNQ contracts, i.e. attain $12k
Long run objective: climb the ladder to 1 mini NQ contract, i.e. attain $20k.
Any feedback or insights are welcome!
submitted by /u/TaediumVitae27 [comments]
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