[KateMoloney]

haha ….now your starting to sound like the victims I posted about under the psychology thread …

[KateMoloney]

I think the key is to focus on the bigger picture.

When I ran backtests, the first 6 – 10 months the account didn’t gain much traction, but the compounding of capital over time really adds up.

[KateMoloney]

Whenever I launch a new strategy I expect a drawdown….

The backtest shows max DD at 30% .. so 10.1% is well within range.

[KateMoloney]

Second point … spot on.

I still come across people who invested in the same market as me 10 years ago, lost a lot of money, and they are still playing the victim and blaming their advisors. Financially and emotionally they are treading water. Its scary to watch.

Victimhood stops you from taking responsibility, but it also stops you from growing too.

[KateMoloney]

Shout out to Craig this morning.

He’s been so patient with me, teaching me all the ins & outs of AB over the last few months.
15 minutes with Craig saves countless hours playing with AB and looking at the help section (not to mention saving frustration).

I find the more I understand my system and the coding, the more confident I am to execute the trades (regardless of the financial outcome).

It has been a blessing to have access to Craig’s detailed knowledge about coding & AB.

[KateMoloney]

This guy is on a suicide mission.
All or nothing / black & white thinking … if he worked on his mindset first he may have achieved very different results.

Anonymous
AUGUST 26, 2020
I’m 39, recently divorced, my ex-wife does not let me see my kids because in her words I have a “gambling issue”.
Lost about 1.3Mil in my savings, inheritance and my parents lifesavings.
They went back to work and I’m now living at their place again.
Currently trying to get some funds from friends so I can go all in 500x leverage. It either works or it’s suicide for me. I wish you all the best of luck.

[KateMoloney]

The website is https://confessionsofatrader.com/

I find it helpful to study people who failed / lost money or gave up.

You can learn a lot about ‘what not to do’ from them.

[KateMoloney]

Anonymous
DECEMBER 18, 2020
I have lost so much money in forex trading I regret the day my friend explained to me about forex little I didn’t know he loss 70k usd he just wanted me to always experience the same pain I lost 150k usd I lost my house my car n my gf left me now I’m just drinking everyday to num the pain ,I was happy before I knew forex I want to advice those who think they will make money trust me you wnt u will be miserable n alone n broke at the end

[KateMoloney]

Last night I went through my MR system back test data and went through my daily P & L data (again) to examine worst case etc etc. I was also reading other peoples journals.

Just as well I did, this morning I logged in before market close and watched the account drop from a 1% loss to a 4.6% loss in the space of 20 minutes. The account overall is down 10.2% since inception, but all seems to be in line with back testing.

Knowing your potential downside in advance helps you to manage your emotion. And looking at it in terms of % rather than $ loss.

[KateMoloney]

NDX has done well … nice work Glenn

[KateMoloney]

Trading system passed the first week of techy tests. Traded one system & then a second.

Next week the goal is to trade 50% of the account balance & two of the strategies. By year end the goal is to be fully invested.

Also decided to name the strategy “The Buffett” as a reminder of how compounding investing returns and decades of investing can lead to great wealth. The R1000 strategy will be named “Brereton” because it is the street we rented an awesome industrial shed on. Our goal is to purchase our own shed and convert half into a house in Brisbane. As the saying goes .. happy husband, happy wife. My husband loves working on project cars on his time off. He is very creative with restoring old classic cars and is a big “why” I want to create wealth through share trading …. My Mum is another big “why” … helping her to build funds for her retirement.

[KateMoloney]

Thanks for sharing.

You will definitely need the bigger VPS plan. I accidentally selected the medium plan and it just can’t handle all the different functions.

I am tossing up putting Amibroker on the VPS as a backup. I have put all my code on onedrive so I can access it anywhere. More as a back up if my computer dies (or I accidentally travel with the wrong laptop).

If the code is on one drive then there is less risk of doubling up / having different code on the VPS vs the main computer.

[KateMoloney]

Second time lucky, API has worked as it should.

This may sound odd to some, but it was really delightful waking up and seeing all those sell orders being executed.

How lucky we are to not have to enter all those trades manually … and then we can pull the data and upload onto STT and get an instant update on our P&L.
Back in the “old days” all that data entry would have taken up so much time.

[KateMoloney]

Getting hot tips on twitter from gen Z crypto millionaires haha

[KateMoloney]

First night of trading, had 7 fills, the API lucked out on me and issued the sell orders one minute before market close. So I’m still holding the positions.

Whilst I was trying to figure out what happened … API VPS OMG WTF all this new technology … Nick came to the rescue and hopefully it will work tonight. Very grateful for Nick and would have been lost without him. TWS and IB help sections are clunky to navigate.

My task tomorrow is to screen snapshot the settings on TWS Nick put in place. I’m creating manuals for the trading business – there are so many new things to remember with AB & now TWS – and its been super helpful to document the settings etc, what works, what doesn’t.

The goal is to keep trading with a small account until we iron out the tech issues and get a feel for the system.
If the system loses money due to not loading the sell orders on time, now is the best time for these mistakes to happen .. cost of doing business.

Enjoying the journey and documenting it all here … one day I’ll be able to read back on this journal .. remember all the hurdles and the people that helped us to become competent and profitable traders.

[Author]

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