Trading Log: On the path to getting funded

[BackInTheGame78]

It’s emotional you need to trade smaller. Let the patterns play out. That may mean taking a small loss. You cannot win if you’re afraid to lose.

There is something to be said for that. I mean I can win because I am pretty accurate on my entries, but I can't win big without letting them play out. I definitely want to focus on getting my Win:Loss ratio above 3, currently it's like 1.6:1, but my win rate is almost 73% so I am winning 3 out of every 4 trades almost. Sharpe Ratio hovers just beneath 3.00 to like 3.30.

The thing is, many times I am only trading 2 or 2 contracts, but they have 10-20x leverage so it's a smaller position but still doesn't need to move much for me to make money.

I've got to just trust what I see and then accept getting stopped out if it happens.

 

[Divorced w 3]

There is something to be said for that. I mean I can win because I am pretty accurate on my entries, but I can't win big without letting them play out. I definitely want to focus on getting my Win:Loss ratio above 3, currently it's like 1.6:1, but my win rate is almost 73% so I am winning 3 out of every 4 trades almost. Sharpe Ratio hovers just beneath 3.00 to like 3.30.

The thing is, many times I am only trading 2 or 2 contracts, but they have 10-20x leverage so it's a smaller position but still doesn't need to move much for me to make money.

I've got to just trust what I see and then accept getting stopped out if it happens.

When you’re confident you will let money grayer than you ever believed move around in an against you favor and you won’t lose your cool. Trust me.

 

[sangheilios]

Christ, this sounds like a one way ticket to getting wrecked. I hope it works out for you but you are easily going to get way over your head at some point. You might make a big score but then also fail to recognize that you honestly got lucky, which will eventually run out. I can think of way easier ways to make money than trying to getting into day/short term trading.

 

[Divorced w 3]

Christ, this sounds like a one way ticket to getting wrecked. I hope it works out for you but you are easily going to get way over your head at some point. You might make a big score but then also fail to recognize that you honestly got lucky, which will eventually run out. I can think of way easier ways to make money than trying to getting into day/short term trading.

Why should someone not pursue a legitimate career path?

 

[sangheilios]

Why should someone not pursue a legitimate career path?

The overwhelming majority of people are just going to wreck themselves by getting into stuff like this, I'm referring specifically to very short term trading/day trading and not stuff like swing trading for instance.

 

[Divorced w 3]

The overwhelming majority of people are just going to wreck themselves by getting into stuff like this, I'm referring specifically to very short term trading/day trading and not stuff like swing trading for instance.

Likely but not impossible. All the greats started out as day traders. Also, consider for a moment that you’re trying to convince a guy who seemingly had a real problem mentally with losing money and is sacrifing profit to not lose capital . Literally no quality is greater in this business than absolutely hating losing money.

 

[BackInTheGame78]

The overwhelming majority of people are just going to wreck themselves by getting into stuff like this, I'm referring specifically to very short term trading/day trading and not stuff like swing trading for instance.

Well, firstly, I can't "wreck myself" because I am not trading my own money.

Prop firms give you the opportunity to pass their challenges and if you do then they give you an account that you trade with and split profits. I am currently still in my Eval, but once I pass that I keep the first 25K of what I make and then 90% of my profits after that.

So me getting wrecked is not going to happen.

Secondly, since this is my first eval attempt and there are people that still haven't passed after 20 tries, I must be doing something right.

Thirdly, this is simply a skill that can be learned like anything else by people who put in enough time, effort and energy into doing so. Some people go to Vegas and gamble...some people go and count cards. Assuming they don't get busted and thrown out by the casino, who do you think does better?

All you can do with trading is stack the odds in your favor as much as possible. You are going to have some losing days, losing weeks and losing months. No way around it.

The key is to practice solid risk management where your losses are relatively small compared to your wins, and the number of wins are greater than your losses.

Preservation of capital is the number one thing above anything else.

So far I have made a total of 44 trades, 32 of them have been winning trades, or almost 73%.

Profit Factor is 3.92, which is considered exceptional.

That isn't luck.

 

[sangheilios]

Well, firstly, I can't "wreck myself" because I am not trading my own money.

Prop firms give you the opportunity to pass their challenges and if you do then they give you an account that you trade with and split profits. I am currently still in my Eval, but once I pass that I keep the first 25K of what I make and then 90% of my profits after that.

So me getting wrecked is not going to happen.

Secondly, since this is my first eval attempt and there are people that still haven't passed after 20 tries, I must be doing something right.

Thirdly, this is simply a skill that can be learned like anything else by people who put in enough time, effort and energy into doing so. Some people go to Vegas and gamble...some people go and count cards. Assuming they don't get busted and thrown out by the casino, who do you think does better?

All you can do with trading is stack the odds in your favor as much as possible. You are going to have some losing days, losing weeks and losing months. No way around it.

The key is to practice solid risk management where your losses are relatively small compared to your wins, and the number of wins are greater than your losses.

Preservation of capital is the number one thing above anything else.

So far I have made a total of 44 trades, 32 of them have been winning trades, or almost 73%.

Profit Factor is 3.92, which is considered exceptional.

That isn't luck.

Lol, ok player. Why the hell would they split profits with someone when they could just do it themselves if it's as easy as you say it is? Lol

 

[BackInTheGame78]

Lol, ok player. Why the hell would they split profits with someone when they could just do it themselves if it's as easy as you say it is? Lol

Let's see how you are lol'ing when I post the checks I'm being sent.

I suggest you go read about price action trading and the studies done on it.

 

[sangheilios]

Let's see how you are lol'ing when I post the checks I'm being sent.

I suggest you go read about price action trading and the studies done on it.

I had to reread the original post of this thread, I thought you were putting down thousands of your own dollars. You've basically been playing with imaginary money. How much do you seriously expect to make with something like this? You are completely delusional if you think you will be making large profits without using large amounts of your own capital. If something is too good to be true, it probably is.

 

[BackInTheGame78]

I had to reread the original post of this thread, I thought you were putting down thousands of your own dollars. You've basically been playing with imaginary money. How much do you seriously expect to make with something like this? You are completely delusional if you think you will be making large profits without using large amounts of your own capital. If something is too good to be true, it probably is.

There must be thousands of delusional people at all these prop forms posting their checks then.

 

[sangheilios]

There must be thousands of delusional people at all these prop forms posting their checks then.

Bro, do you realize how ridiculous that statement is? There aren't thousands of people making money like that lol. That's a bunch of nonsense as a means to shill this garbage to suckers like you that sign up for their subscription services lol.

I seriously question the intelligence and critical thinking skills of a lot of people on this forum.