Darkhorse didn't make the final cut

darkhorse70 · 28 August 2015

So after 6 weeks of trading at Alioms grad program, surviving through weeks of potential elimination rounds and our class size getting halved I was let go unfortunately.

To be so close yet so far.

It came down to compatibility of trading style and the time frame style.

To be honest I thought I was going to make it.

I had made huge progress and I think I outperformed every one on the last week.

It was a huge experience to learn from and If ive learnt one thing from it, its that any thing in life is possible.

Im actually applying for my next prop shop and think I should be able to fly through it.

Although the feeling of getting cut is crushing, the challenge continues on.

darkhorse70 · 28 August 2015

Re: Darkhorse didnt make the final cut

I also think that Aliom was an excellent shop.

The trainers were incredibly patient and put up with thousands of my stupid questions (for all that have got to know me slightly, they know the randomness of my nature lol)...

cynic · 28 August 2015

Re: Darkhorse didnt make the final cut

darkhorse70 said:
I also think that Aliom was an excellent shop.

The trainers were incredibly patient and put up with thousands of my stupid questions (for all that have got to know me slightly, they know the randomness of my nature lol)...

Sorry to hear that, darkhorse , I was hoping your perseverance would pay off this time around, but am glad to hear that you're determined not to be dissuaded.

I am wondering if there's something in the air this week. A lot of people seem to be experiencing misfortune at present.

darkhorse70 · 28 August 2015

Re: Darkhorse didnt make the final cut

Thanks cynic, I guess this is my first real disappointment in life as a man.

As I was saying to my cousin on the phone, uncertainty is such a difficult thing to cope with in life and I guess as a trader thats such a huge part of your job. The hardest thing to swallow when you fail is uncertainty.

The idea of whats my next plan, this is going to be painful to go through the whole process again.

What if I fail?

The idea of my parents losing faith in my abilities.

But, after all that I just choose to look at it from the perspective that this experience is going to toughen me up. It gives me the right to claim my victories because with out failure, you wont have the mind set to work insanely hard.

Talk about bad luck, my dad was meant to have heart surgery on Wednesday and while he was waiting it got cancelled. Bad luck... lol

Modest · 28 August 2015

Re: Darkhorse didnt make the final cut

You have had the privilege to be a part of a select group whether you made it to the end or not it doesn't matter because you don't need them or any other person to be successful what you need to be the best, you have and it is between your ears! Chin up mate - awesome experience now keeping chipping away at those skills and don't forget about us here at ASF when you're running your own fund!

skc · 28 August 2015

Re: Darkhorse didnt make the final cut

darkhorse70 said:
To be so close yet so far.

Tough luck mate. Just like trading... you win some, you lose some. Review, learn, improve then go again.

darkhorse70 said:
I guess this is my first real disappointment in life as a man.

You have never been turned down by a girl?

cynic said:
I am wondering if there's something in the air this week. A lot of people seem to be experiencing misfortune at present.

Not for the guys who made the cut...

darkhorse70 said:
Talk about bad luck, my dad was meant to have heart surgery on Wednesday and while he was waiting it got cancelled. Bad luck... lol

Put things in perspective... wish him well.

barney · 28 August 2015

Re: Darkhorse didnt make the final cut

darkhorse70 said:
It was a huge experience to learn from and If ive learnt one thing from it, its that any thing in life is possible.

Good onya M8

Purely from a technical trading experience, what would you say have been the most valuable lessons you have gained from the experience so far? (I'm sure there will be a lot here who are interested)

CanOz · 29 August 2015

Re: Darkhorse didnt make the final cut

To do what you have done, starting where you started, is just such an amazing demonstration of your potential. You are just beginning your journey and yet you are strides ahead...

Fantastic first try...

Now, try again.

Awesome work dark horse!

CanOz

darkhorse70 · 29 August 2015

Re: Darkhorse didnt make the final cut

Thanks Modest, ASF was pretty much the only reason how this all began. The resources and brutal honesty of the members set me on a good track.

Haha SKC, being rejected by a girl is bearable. It hurts a few minutes till you spot the next one. Thanks for wishs in regards to my dad.

Barney, the greatest thing i learnt was risk control. We disregarded all technicals and only focus on order flow and using doms.

The use of hedging enabled us to get out of bad trades with 2 to 3 exit strategies wothout losing any money.

That in my eyes is the most essential part of tradong. Not being a punter. Having a system where if **** hits the fan or 95% of the time you can prevent the loss of money.

Atleast make more than you lose. But hedging is a tool that i will pursue. I cant emulate what they did since i dont have the resources and didnt learn enough but km going to try and learn as much as possible about spread trading.

Thanks Can, youre a great teacher and friend. Propex is already the next syop hopefully haha.

Wysiwyg · 29 August 2015

Greetings Darkhorse. Tough did by the looks of it. Maybe you are just a bit of a loose cannon.

My question though is -- did you see and buy/sell criteria that is not mainstream?

McLovin · 29 August 2015

Hey DH, tough luck on missing the cut, but take it as a learning experience. The change in your attitude in the last 12 months since you turned up here has been incredible and commendable. If that sort of change can happen in 12 months imagine what can happen in 5 or ten years. Keep on chuggin'.

darkhorse70 · 29 August 2015

Haha wysi i think i was the least loose cannon. Always hit my exits unlike some haha.

As to your question abouy buy/sell criteria, no. When you get there they pretty much tell you to disregard EVERYTHING youve learnt so far.

Bill trading was simple. There wasnt a whole lot you could and every prop trader tries to get on the same trades. It came down to timing, a crap load of cancelled limit orders and reading market flow.

The rest was planning for potential scenarios, i.e. if market flow does this what can i do etc.

Thanks Mclovin, appreciate the feedback. I actually told the group and my trainer about my proposed hedge fund and we all laughed.

I remember you hammering me about that idea so hard. Haha so naive.

darkhorse70 · 29 August 2015

Wysi unfortunately there wasnt a secret reciepe for success. Even while I traded with my trainer it came down to experience and timing.

All about refining your skill and getting in thousands of screen hours. That plus expanding your trading tools to get on more sophisticated spreads to reduce risk/hedge up and even expand profits.

barney · 29 August 2015

Re: Darkhorse didnt make the final cut

darkhorse70 said:
Barney, the greatest thing i learnt was risk control.

I recall some insignificant internet Forum punter suggested that is where you needed to concentrate Pity I don't listen to my own advice sometimes!

darkhorse70 said:
The use of hedging enabled us to get out of bad trades with 2 to 3 exit strategies without losing any money.

M8, there are a lot of punters here who would love to see a few examples of how you put that into practice (ie. what instruments you hedged with to save your bacon etc etc)

I'm pretty sure TH is not a big fan of hedging (sorry if that is incorrect TH), so a discussion regarding the pros and cons of hedging would be a very interesting topic

darkhorse70 · 29 August 2015

Well I was trading at the very basic but ill shoot up some examples. I had a screen shot or two which I could explain. However you would spread one bill contract with another.

I.e. sep 5 bill hedge with march 6 bill.

Ill post a few pics up tomorrow.

barney · 29 August 2015

darkhorse70 said:
Well I was trading at the very basic but ill shoot up some examples. I had a screen shot or two which I could explain. However you would spread one bill contract with another.

I.e. sep 5 bill hedge with march 6 bill.

Ill post a few pics up tomorrow.

Thanks Pat ....... you've done very well so far so hats off .......

Any examples of your efforts will likely help many others in their quest .....

Darkhorse didn't make the final cut

darkhorse70

darkhorse70

cynic

darkhorse70

Modest

It's in the chart

skc

Goldmember

barney

CanOz

Home runs feel good, but base hits pay bills!

darkhorse70

Wysiwyg

Everyone wants money

McLovin

darkhorse70

darkhorse70

barney

darkhorse70

barney

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Darkhorse didn't make the final cut

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