[AbeSmith]

Hello. Some of you might remember me from when I first started asking beginner questions here at TL. I'm still around, and trading. This month (8th month of trading) will be my first profitable month. Mostly paper trading though, so it is technically not profitable. I have attached a spreadsheet of my performace. The P/L is final P/L, after commission. The number of contracts is literally the number of contracts traded. So 1 contract round trip trade is recorded as 2 contracts, 1 buy, 1 sell. I trade mostly 1 YM contract at a time. But on 6/12, when I had a semi-blow out day, I traded 2 contracts on some trades. 1 contract trading is difficult because you can't scale out. But the good thing is that it forces me to concentrate on accuracy. On 6/23 I got some money into my account and foolishly tried to get my 10 roundtrips to not be charged the TS fees.

I'm feeling good about trading. Optimistic. Last month I told my parents that I can feel I'm getting close, and that I'm learning. When I have a losing trade I am able to identify what I did wrong. Things are making sense.

[MC]

Congrats...the more lightbulb moments we have the closer we are to being consistent and making profit.

[Hlm]

Very good job. Keep it up and don't get ahead of yourself.

Originally Posted by AbeSmith »

When I have a losing trade I am able to identify what I did wrong.

Remember, a losing trade does not have to mean something went wrong. If you followed your rules and lost, then it was still a good trade. It's just a numbers game.

Originally Posted by AbeSmith »

Things are making sense.

Excellent!!

[atto]

Originally Posted by Hlm »

Remember, a losing trade does not have to mean something went wrong.

This. Something may have gone wrong, but very profitable traders who follow their rules exactly lose trades. Try to identify if you did mess up, but if not, be glad you followed your rules.

[brownsfan019]

Keep up the good work Abe and remember what I told you awhile back - pay it forward.

[smwinc]

Originally Posted by atto »

This. Something may have gone wrong, but very profitable traders who follow their rules exactly lose trades. Try to identify if you did mess up, but if not, be glad you followed your rules.

Agree 1,000%.

If you don't have good trades that are losing trades, you're probably not a trader.

You will also have plenty of profitable trades, they aren't good trades. They are called "luck".

All the best

[JBWTrader]

Hi Abe,
Cangrats on your progress mate. As you know there are a lot of experienced guys on this forum that are only too happy to help out when needed. I have experienced their help myself. So I know where you are coming from.
Keep up the honest work
Best
John

[MC]

Originally Posted by smwinc »

Agree 1,000%.

If you don't have good trades that are losing trades, you're probably not a trader.

You will also have plenty of profitable trades, they aren't good trades. They are called "luck".

All the best

That is an awesome quote!