Indecision in Markets, War and Me 
Not much to write trading wise this week. I continued to be ultra cautious and made just one trade for +3. I felt very wary about going long with the war news likely to be bad and decided to only take short trades with my system for a few days. I know I'm over cautious by most people's standards but the bottom line is that it is my money at risk and I have the luxury of not needing to take increased risks to earn my daily bread.
Today was the PhD meeting, my tutor persuaded me that I would be silly to give up at this point and agreed that I should be able to complete it and still do a couple of hours trading a day. So a good compromise
Spent an hour this afternoon doing a photoshoot for the Mail on Sunday. I think the article will be in next week - a comment on Sharescope. Not sure why I had to change my blouse twice and lean towards the camera though!!
Not much to write trading wise this week. I continued to be ultra cautious and made just one trade for +3. I felt very wary about going long with the war news likely to be bad and decided to only take short trades with my system for a few days. I know I'm over cautious by most people's standards but the bottom line is that it is my money at risk and I have the luxury of not needing to take increased risks to earn my daily bread.
Today was the PhD meeting, my tutor persuaded me that I would be silly to give up at this point and agreed that I should be able to complete it and still do a couple of hours trading a day. So a good compromise
Spent an hour this afternoon doing a photoshoot for the Mail on Sunday. I think the article will be in next week - a comment on Sharescope. Not sure why I had to change my blouse twice and lean towards the camera though!!
be-positive
Veteren member
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Helen,
It sounds like the photographer has heard you like your FRIDAY AFTERNOON FROLIC (LOL)
It sounds like the photographer has heard you like your FRIDAY AFTERNOON FROLIC (LOL)
Helen - on no account give up on your Ph. D.
I did mine back in 1966-1969 - subject chemistry. I also had lots of dead ends and periods when i thought i was wasting my time. I at one time (two years in) thought i should change my topic of research completely. At the time any escape from the black hole would have been a relief although I never thought about not finishing.
My philosphy of life is that you cannot live on "What if" and although I have NEVER used my doctorate professionally and only my mum in law calls me Dr. - I do not regret that period in my life. The markets will not go away whatever happens in this war.
That was a bit serious!! Sorry.
Peter
I did mine back in 1966-1969 - subject chemistry. I also had lots of dead ends and periods when i thought i was wasting my time. I at one time (two years in) thought i should change my topic of research completely. At the time any escape from the black hole would have been a relief although I never thought about not finishing.
My philosphy of life is that you cannot live on "What if" and although I have NEVER used my doctorate professionally and only my mum in law calls me Dr. - I do not regret that period in my life. The markets will not go away whatever happens in this war.
That was a bit serious!! Sorry.
Peter
Trader333
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Hi Helen,
There are a couple of things I would like to comment on if you are open to this.
1) I agree with your professor, it would be a terrible waste of 5 years to not complete your PHD although I have never seen you say what the subject was ? I studied to Masters level and if at that point had I not completed it I would have somehow felt incomplete.
2) Are you aware that as a customer of IB you get a discount subscribing to esignal ? I have just had a 30 day trial and for the US markets it really is very good but there are mixed views on European markets.
Good Luck
Paul
There are a couple of things I would like to comment on if you are open to this.
1) I agree with your professor, it would be a terrible waste of 5 years to not complete your PHD although I have never seen you say what the subject was ? I studied to Masters level and if at that point had I not completed it I would have somehow felt incomplete.
2) Are you aware that as a customer of IB you get a discount subscribing to esignal ? I have just had a 30 day trial and for the US markets it really is very good but there are mixed views on European markets.
Good Luck
Paul
Hi Peter and Paul (did you once sing together?)
I am going to carry on with the PhD but I think that I am now well aware that I am not an "academic" I did my Masters and enjoyed it but this is a whole order of magnitude different. I HAVE to finish by the 15th of December now, a final deadline.
Thanks for the tip re e-signal Paul, I didn't know it was cheaper if you are and IB client. When I am properly full time I may swap to them as long as they can resolve the EUREX reliability issues.
Thanks for the comments guys
I am going to carry on with the PhD but I think that I am now well aware that I am not an "academic" I did my Masters and enjoyed it but this is a whole order of magnitude different. I HAVE to finish by the 15th of December now, a final deadline.
Thanks for the tip re e-signal Paul, I didn't know it was cheaper if you are and IB client. When I am properly full time I may swap to them as long as they can resolve the EUREX reliability issues.
Thanks for the comments guys
Cold Executions
Just a quick note about my "Ah-ha!" moment today. I've gone back to SB as a sideline but I'm trading the Dax. And I realised that I have absolutely no emotions now about those trades. They work or they don't full stop. It makes me realise how much emotion is still around in the futures trading and the reason for it is purely the amount of money involved. BUT that realisation is a big step forward for me, I can be emotionless. I just need to transfer those feelings to larger amounts of money.
Made two winning Dax trades this morning for +5 and +18 and they were totally devoid of emotion/anxiety.
Just a quick note about my "Ah-ha!" moment today. I've gone back to SB as a sideline but I'm trading the Dax. And I realised that I have absolutely no emotions now about those trades. They work or they don't full stop. It makes me realise how much emotion is still around in the futures trading and the reason for it is purely the amount of money involved. BUT that realisation is a big step forward for me, I can be emotionless. I just need to transfer those feelings to larger amounts of money.
Made two winning Dax trades this morning for +5 and +18 and they were totally devoid of emotion/anxiety.
FTSE Beater
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Hi Helen
Sounds like another step along the road of self-discovery
Take Care
Mark.
Sounds like another step along the road of self-discovery
Take Care
Mark.
Les Carlin
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Its a great breakthrough. Do you find that you can run the profits for longer? I've found that once one gets thro the other discipline/emotion issues this one makes the difference in terms of generating and holding one's profit.
I had a good week too, BTW. I think the war effect on the markets might be on the wane giving us back some more normal conditions.
Stay well.
I had a good week too, BTW. I think the war effect on the markets might be on the wane giving us back some more normal conditions.
Stay well.
Les Carlin
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This is curious. It seems that in your head there's a difference between a futures trade and say SB, or perhaps shares. So i wondered what the difference is, knowing that you will appreciate that whatever the financial instrument, the same strategic principles apply?
Les
Les
Les Carlin
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So it gets a lot more scary when the stakes are higher?
Sounds like a whole 'nother discussion and not for here
Sounds like a whole 'nother discussion and not for here
Best week for ages
Ok end of my trading for the week and it has been very positive in my 2 hours a day, despite a somewhat poor market between 9 and 11 most mornings.
Made 5 trades.
+10, +5, +18, +29 and -18
The first one was STOXX the rest Dax (SBs).
At + 44 for 10 hours work I'm moderately satisfied (makes a change eh?)
Ok end of my trading for the week and it has been very positive in my 2 hours a day, despite a somewhat poor market between 9 and 11 most mornings.
Made 5 trades.
+10, +5, +18, +29 and -18
The first one was STOXX the rest Dax (SBs).
At + 44 for 10 hours work I'm moderately satisfied (makes a change eh?)
Trader333
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Hi Helen,
I have to say that it would concern me that the losing trade you had (-18) was equal to or larger than 3 of the 4 winning trades. I would argue that it is prudent to aim for twice the amount of points per winning trade than per losing trade. Now I know that you may say that the winning trades did not offer the opportunity to get more points which is fine. I would, however, say that the losing trade of -18 should have been closed much much earlier. The reason for this is that your average winning trade gave +15.5 points but your average losing trade gave -18. To be successful with this would require being right more often than being wrong. You may well have a method that allows that but if you dont and your trades average out at 50% win and 50% lose the long term effect will be net losing.
Of course using a SB company means that you have bid - ask spreads which would not be the case with your IB account so the situation may be somewhat better. I hope you dont take this as negative as it is not meant to be, like others on the board I just give my views and of course they are just that.
Good Luck
Paul
I have to say that it would concern me that the losing trade you had (-18) was equal to or larger than 3 of the 4 winning trades. I would argue that it is prudent to aim for twice the amount of points per winning trade than per losing trade. Now I know that you may say that the winning trades did not offer the opportunity to get more points which is fine. I would, however, say that the losing trade of -18 should have been closed much much earlier. The reason for this is that your average winning trade gave +15.5 points but your average losing trade gave -18. To be successful with this would require being right more often than being wrong. You may well have a method that allows that but if you dont and your trades average out at 50% win and 50% lose the long term effect will be net losing.
Of course using a SB company means that you have bid - ask spreads which would not be the case with your IB account so the situation may be somewhat better. I hope you dont take this as negative as it is not meant to be, like others on the board I just give my views and of course they are just that.
Good Luck
Paul
First well done for ending up + that is what it is all about so take the good from this week and remember what you did and why that way you will be able to do it again. AS for the loss I agree with Pauls comments as you know from my e-mail I am getting better results from setting a definite stop loss and then applying a rolling stop loss.
Keep the wins coming
Kevin
Keep the wins coming
Kevin
Hi guys,
Thanks for the comments, I really do appreciate your input.
I've gone back and looked at the trades again.
You have to ignore the +10 as that was my futures strategy.
The other 4 trades:
+5 - cut it as I had to take the kids to school and wasn't sure it would carry on up (actually was the right thing to do as it fell while I was out)
+18 - Good trade ran to target
+29 - Good trade ran to target
-18 - I always have my inital stop at -20 with this longer term strategy as I'm going for much longer runs . This trade was cut when it went through a pivot that I expected to give support. It didn't so I closed it before it hit the stop.
What I don't know as yet is how good the entry rate is. I get about two out of three winners with my futures scalping and I sort of expect the same with the longer term one too, but I don;t know as yet. I will keep a close eye on it.
Many thanks again
Helen
Thanks for the comments, I really do appreciate your input.
I've gone back and looked at the trades again.
You have to ignore the +10 as that was my futures strategy.
The other 4 trades:
+5 - cut it as I had to take the kids to school and wasn't sure it would carry on up (actually was the right thing to do as it fell while I was out)
+18 - Good trade ran to target
+29 - Good trade ran to target
-18 - I always have my inital stop at -20 with this longer term strategy as I'm going for much longer runs . This trade was cut when it went through a pivot that I expected to give support. It didn't so I closed it before it hit the stop.
What I don't know as yet is how good the entry rate is. I get about two out of three winners with my futures scalping and I sort of expect the same with the longer term one too, but I don;t know as yet. I will keep a close eye on it.
Many thanks again
Helen
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