alexstark

Took a huge loss ($13,942) on BTX on the way up. Started recovering this week with small gains. When I saw BTX dropping I got FOMO and sized in too large, took a bigger loss than expected ($500), then obsessively revenge traded. Since the TKAT loss, I'm at a point now where (if I stick to my plan and rules) I would be profitable. All my losses are from emotions. I'm going to try a new thing: Every 15 mins a timer goes off and I need to answer these questions: 1. How is my mental and emotional state? Who is in control - me or emotions? If emotions - cut everything. 2. Is every stock I'm in something that's part of my plan and strategy? If no - cut. 3. Am I sized in correctly? If no cut to size. 4. Should I call it a day? Is this good enough? I'll update profitly with my actual pnl soon but TBH I can't stomach posting such large losses and seeing the negative profit. cc: @Steen

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alexstark

I blew up. Took a $3500 loss shorting TKAT and made all the mistakes in the book. Taking a week off to relax and refocus. Will upload trades on return. I'm reducing my risk from $100-$500 down to only $10. I haven't earned my risk level and need focus on consistency. I have a system that I'm gamifying in order to enjoy trading with the much smaller risk. Below is a sample of the rules. Each risk level corresponds to a. color and is the color of apple watch band I'm wearing. Each new level comes with a reward. @Steen is joining me on this journey! Wish us luck :) $10 - pink $50 - white + fancy dinner $100 - orange + new table $250 - yellow + fancy santa barbara $500 - blue + hawaii vacation $1000 - green + increased wedding budget $2500 - red + europe trip $5000 - black + ??? $10000 - metallic + buy a tesla w/ all the goodies >$10000 Quit job and enjoy financial freedom How to move up? 10 R for 10 trading days Must win 8 out of 10 trading days How to stay the same? Win or breakeven >= 5 out of 10 days No big losses < 10R for 2 weeks How to move down? Win/breakeven only 4 out of 10 days -2R on any one trade

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alexstark
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alexstark Mar 20, 1:54 PM

Slight modification to the above which is that we're going to do 10R per 20 trading days, all weeks must be green, and eliminate any of the $25xxx levels as we'll spend more time per level.

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alexstark

OK Finally getting a journal set up that works. I am excluding my random trading pre: Tim Sykes.. Basically my history is that of gambling big. I've lost 15k on OTCs and won 50k in YOLO options. I've also probably lost another 20k in YOLO options. Nothing consistent. I don't want to include those gains - I want to track my consistency once I started taking trading more seriously.

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alexstark
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alexstark Feb 16, 2:49 AM

Apparently Matt Monaco doesn't actually know any dumb people. Nice job dude. Very impressed. Super frustrated with my trading right now - in a 7.5k drawdown. Time to size down and get consistent. I do the same thing to with the long/short over trading lol.

alexstark
alexstark Feb 16, 2:53 AM

Have you upped your risk?

Jesntaylor
Jesntaylor Jun 30, 11:47 PM

How is he making so many trades per month under PTD?

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alexstark

@mattdelrio24 You have an insanely high win rate - what do you attribute that to?

mattdelrio24
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mattdelrio24 Jan 03, 7:09 PM

@iocore Definitely having more capital to trade with has allowed me to pick and choose my spots with a higher volume of trading. Still not trading a lot of shares per trade, and not a lot of "big money gains", but % per trade is up. In my first year of trading I only had a 10% win rate. I was forcing way too many trades and didn't have a set strategy in place. What's worked best for me has been short term/swing trading, passing points of resistance, and following MACD, Stochastic, and RSI indica

alexstark
2
alexstark Jan 03, 11:20 PM

dope - thanks for sharing - keep up the good work

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