Retail Trading for a Living Milestone - "Feed my ego"/Thought sharing

[skc]

Or maybe he had to wait longer for the m3!

BTW that link to the options tutorial doesn't work....

Or he forgot he has to pay tax when he ordered that m3?

 

[minwa]

Or maybe he had to wait longer for the m3!

BTW that link to the options tutorial doesn't work....

Probably messed up when I copied to seccond post, this should work

https://www.aussiestockforums.com/f...t=30260&page=2&p=884486&viewfull=1#post884486

 

[minwa]

Great work Minwa... look forward to your half year bittersweet update...

P.S. I hope the bitter part is just that you have a big tax bill.

Thanks..that tax too when it comes ! I always try console myself that the AUDUSD conversions will cover a big chunk of the tax..so what I am earning is close to net.

I'll update early just closed the half year out and going for a holiday so won't be trading.



Happy at the end result, on track to smash previous years. Also had a great June which marks my second 6 figure month.

Now comes the bitter part: May draw down. It may not look like much on a 6 month curve but whilst in it I was pretty discouraged. As primarily a day trader, a whole month of draw down is kind of depressing. This actually shows my immaturity in trading as I did not take it as well psychologically as I'd like to. I didn't do anything stupid/out of rules as a result, but still it did impact me emotionally. If we were chatting about trading in April and end May you would have definitely noticed a difference in my confidence.

Although I recovered out of it pretty fantastically, it is still not the smoothness I would've liked. I much more preferred first quarter's smoothness than second quarter's, even if it meant earning less return overall (which it didn't but even if it did I still would've preferred it).

Hope everyone's done well. I will try not to care much what happens rest of year, my yearly target is reached and I think we are in for some crazy times in the markets remainder of year.

 

[CanOz]

Wow, inspirational stuff Minwa, enjoy the holidays!

 

[Modest]

You're the man minwa! Enjoy your much deserved break!

 

[kid hustlr]

I read that as 40% return in 6 months? Is that correct?

6 figure month is pretty ballin - nice work.

 

[VSntchr]

Thanks..that tax too when it comes ! I always try console myself that the AUDUSD conversions will cover a big chunk of the tax..so what I am earning is close to net.

That's a lovely buffer, however no consolation for us trading AUD markets

Happy at the end result, on track to smash previous years. Also had a great June which marks my second 6 figure month.

Congratulations. I don't think its coincidence how once the first milestone is reached, they seem to reoccur much more often.

Although I recovered out of it pretty fantastically, it is still not the smoothness I would've liked. I much more preferred first quarter's smoothness than second quarter's, even if it meant earning less return overall (which it didn't but even if it did I still would've preferred it).

I battle the same thing. Every time I go into drawdown the questions start arising - then when I pull out of it my confidence gets a bit too strong...balance is the key, although not easy to achieve. I do also think that a slight bit of overconfidence can help you make the most of a good run when your in the "zone".
With all that said, Ill take a smaller but smooth equity curve, over a bigger but wild equity curve all day. Much easier to scale over future periods.

 

[Roller_1]

Thanks Minwa - great work!

 

[minwa]

I read that as 40% return in 6 months? Is that correct?

46.31% with largest 8.58% DD in 6 months yeah.

 

[DeepState]

Truly stunning results. Congratulations.

 

[cynic]

Yep! I am envious!

Well done minwa!

 

[Triathlete]

46.31% with largest 8.58% DD in 6 months yeah.

Awesome result minwa..!!

 

[minwa]

Thanks guys.

I've decided to focus on FX for a period of time. I probably won't do or only very little ES trades. Always loved the potential in FX but never had the time to trade it properly as I was always up late trading ES and usually miss out FX's London session. Figured out I don't have enough energy/concentration to trade both ES and FX as they have different session times. Getting old.

I've almost reached year's target in return so I can take as long as I want "off"(I will be much busier !!). We are also entering the silly season Jul-Oct. I am determined to nail FX as I want to transition into that fully in the future. I will do some longer term commodity trades as they set up for lower returns but I am investing this time to tackle FX which hopefully rewards me greatly in the future.

 

[CanOz]

Minwa, good to hear you're switching to fx!

 

[5oclock]

MINWA good work!!! It is inspirational to read your posts and I hope you keep posting .

 

[ThingyMajiggy]

Thanks guys.

I've decided to focus on FX for a period of time. I probably won't do or only very little ES trades. Always loved the potential in FX but never had the time to trade it properly as I was always up late trading ES and usually miss out FX's London session. Figured out I don't have enough energy/concentration to trade both ES and FX as they have different session times. Getting old.

I've almost reached year's target in return so I can take as long as I want "off"(I will be much busier !!). We are also entering the silly season Jul-Oct. I am determined to nail FX as I want to transition into that fully in the future. I will do some longer term commodity trades as they set up for lower returns but I am investing this time to tackle FX which hopefully rewards me greatly in the future.

I don't know whether to be encouraged or depressed, looking at my little pathetic account(although making 700% does sound more impressive .

Interesting you're wanting to change to FX, how will you trade it? Does it still have the patterns around certain times of day like how you seem to trade the ES? Don't suppose that savvy mentor of yours would want to help me either?

Very nicely done minwa

What happened on the car front? You still getting that BMW?

 

[Gringotts Bank]

Thanks guys.

I've decided to focus on FX for a period of time. I probably won't do or only very little ES trades. Always loved the potential in FX but never had the time to trade it properly as I was always up late trading ES and usually miss out FX's London session. Figured out I don't have enough energy/concentration to trade both ES and FX as they have different session times. Getting old.

I've almost reached year's target in return so I can take as long as I want "off"(I will be much busier !!). We are also entering the silly season Jul-Oct. I am determined to nail FX as I want to transition into that fully in the future. I will do some longer term commodity trades as they set up for lower returns but I am investing this time to tackle FX which hopefully rewards me greatly in the future.

I guess you've looked at automating your ES trades? Almost everything can be coded.

Since you have the midas factor, I'm sure your FX stuff will work, but I would have thought automation of a successful existing approach would be easier.

 

[skc]

I've decided to focus on FX for a period of time. I probably won't do or only very little ES trades. Always loved the potential in FX but never had the time to trade it properly as I was always up late trading ES and usually miss out FX's London session. Figured out I don't have enough energy/concentration to trade both ES and FX as they have different session times. Getting old.

I've almost reached year's target in return so I can take as long as I want "off"(I will be much busier !!). We are also entering the silly season Jul-Oct. I am determined to nail FX as I want to transition into that fully in the future. I will do some longer term commodity trades as they set up for lower returns but I am investing this time to tackle FX which hopefully rewards me greatly in the future.

I guess many here will be surprised how you seem to give up on a pretty successful and lucrative ES strategy. I for one will milk and trade and grow it as much as possible... you just never know how long your edge will hold and how much of it is transferable across markets.

But anyhow... good on you for meeting your year's target with 5 months to spare and so you can do something different.

All the best.

 

[minwa]

I don't know whether to be encouraged or depressed, looking at my little pathetic account(although making 700% does sound more impressive .

Interesting you're wanting to change to FX, how will you trade it? Does it still have the patterns around certain times of day like how you seem to trade the ES? Don't suppose that savvy mentor of yours would want to help me either?

Very nicely done minwa

What happened on the car front? You still getting that BMW?

I'll be trading price action, same underlying principle as what I'm doing in ES, of course with nuances tailored for the FX market. But mostly the same - price is liquidity seeking. Time of day patterns exists in all freely traded liquid markets, I have some idea just have to nail down specifics for the FX market. My mentors retired from mentoring, for now at least.

I have decided to switch to finance/lease if I could, so just waiting for the tax return to see if I could/how much I could obtain.

 

[minwa]

I don't know whether to be encouraged or depressed, looking at my little pathetic account(although making 700% does sound more impressive .

Interesting you're wanting to change to FX, how will you trade it? Does it still have the patterns around certain times of day like how you seem to trade the ES? Don't suppose that savvy mentor of yours would want to help me either?

Very nicely done minwa

What happened on the car front? You still getting that BMW?

I guess you've looked at automating your ES trades? Almost everything can be coded.

Since you have the midas factor, I'm sure your FX stuff will work, but I would have thought automation of a successful existing approach would be easier.

I am mostly discretionary I don't see how it can be automated, with levels drawn from different time frames. I can't even explain well on text. I also believe automated will produce inferior results - taking every set up just because they fit the rule is flawed thinking. Not all setups are equal, the superior way is cherry picking which can only be done in real time as you analyse the whole context of where price action is.

But then there is also the argument that inferior results (higher DD, lower return) can be accepted for automation, as long as it's profitable and tolerable - who cares about the worse profitable performance. If you gave a bot that has worse stats but still profitable and I am still comfortable with it, would I trade it? Hell yeah. PM me if you got one.

I don't see how I can automate my ES trading personally. Which is also why I want to do FX.

Lol no midas here, I've got a massive history of many failed trading methods over many years. You are all seeing the fruits only, I think I painted a too pretty picture of the work involved in planting the roots in this thread.