Ready To Go Funded With New Simpler Strategies?

I was supposed to have funded traded today, but since I took Friday off and did nothing, as well as over the weekend, resting with my kids, doing regular chores, I really blew off backtesting streaming real time my simplified strategies. Yes, not very disciplined. Guess going to court against my former spouse took a lot more out of me than I thought.

My sleep has been off where some nights I've only gotten a couple hrs of sleep, rather than the 6-8 hrs I need to function well.

Anyway, excuses. Since I have not reasonably tested my strategies in a more real life setting, I'm not putting real money to it. I did attempt today to do my strategy real time, but 3 min. seemed so incredibly slow that it made me feel drowsy.

Another trader suggested I change to 250 tick chart. That was considerably faster as there could be many candles in one 1-minute chart. It was very interesting. A different trader suggested many months ago for me to go to a tick chart, but I was not ready for that then. Maybe I am now.

Tomorrow I have a couple hours to trade real time. Again, this will be unfunded until I have adequately traded this, which is basically about 1 week's worth of trades. I have zero days under my belt real time streaming or real time, so no can do yet.

It's important to have reasonably tested new strategies before using real funds, at least for me.

I'm feeling a little better after court, but there was no decision made by the judge. So, I am scheduled to go to court again against my spouse for our children. I could get really negative, but what's the point. He's not worth the energy. My trading, making good trades that lead to profits is more important and value added for my kids and I.

Will keep you apprised.

Happy trading.

More Trade Strategies

Today I did no funded or even real time practice trading, rather it was just backtesting on the simplified trading strategies - one long, one short - both short-time daytrading on a 3 minute time period.

The backtesting I did was on crude oil. That is something my uncle is interested in and asked me about yesterday. He thinks it's totally bogus to make money on the S&P and that one company out of the 500 could create so much volatility for the whole S&P. That's just not the case. He and I have completely different philosophies on trading, though, we are both technical traders. He is very news driven, while I am not.

He even had a seat on the NYSE with his son (my cousin). His son couldn't cut it as a trader, and in some sense, my uncle admires that I'm doing this, and continue to do this.

My results from a week's worth of trading Crude Oil (CL):

1 Tick on CL = $10
Margin for 1 contract = $1,000
Contracts Used = 1

CONDITIONS:
- Hrs Traded: 9:30 am to 3:15 pm EST
- Took EVERY trade setup available between those hours exactly following trading strategy
- Instant Replay Mode on Trade Navigator Gold (Streaming Replay is better, but was not available for the CL)
- Dates Traded: 3/10/09 to 3/16/09

LONG STRATEGY:
- Total Trades = 43
- Total Profits = 34
- Total Costs = 9
- % Profitable Trades = 79.1%
- Avg Profit = $346
- Avg Cost = -<$111>
- Largest Profit = $1,650
- Largest Cost = -<$300>
- Net Profit = $11,760

SHORT STRATEGY:
- Total Trades = 43
- Total Profits = 37
- Total Costs = 6
- % Profitable Trades = 86.0%
- Avg Profit = $260
- Avg Cost = -<$177>
- Largest Profit = $850
- Largest Cost = -<$430>
- Net Profit = $9,610

TOTAL NET PROFIT = $21,370 (Using only 1 contract of the CL for the whole week)
- % Total Profitable Trades = 82.6%
- Gross Profits = $23,430
- Gross Costs = -<$2,060>
- Profit Factor ($Profits/$Costs) = 11.37
- Avg Trading 1 Hour/Day = $682 (~$161K/yr net on 48 Wks) - 3 Trades/Hr

--------------------------------------------------

DAILY BREAKDOWN:

Tuesday, 3/10/09
- Total Trades = 17
- # Costing Trades = 1 (Long)
- % Profitable Trades = 94.1%
- Gross Profits = $4,350
- Gross Costs = -<$100>
- Profit Factor ($Profits/$Costs) = 43.5
- Net Proft = $4,250
- Avg $ Per Trade = $250
- Avg # Trades Per Hour = 2.62
- Only Trading 1 Hr = $655

Wednesday, 3/11/09
- Total Trades = 15
- # Costing Trades = 3 (Longs)
- % Profitable Trades = 80.0%
- Gross Profits = $5,140
- Gross Costs = -<$260>
- Profit Factor ($Profits/$Costs) = 19.8
- Net Proft = $4,880
- Avg $ Per Trade = $325
- Avg # Trades Per Hour = 2.3
- Only Trading 1 Hr = $747.50

Thursday, 3/12/09
- Total Trades = 24
- # Costing Trades = 5 (2 Longs, 3 Shorts)
- % Profitable Trades = 79.2%
- Gross Profits = $5,290
- Gross Costs = -<$650>
- Profit Factor ($Profits/$Costs) = 8.14
- Net Proft = $4,640
- Avg $ Per Trade = $193
- Avg # Trades Per Hour = 3.69
- Only Trading 1 Hr = $712.17

Friday, 3/13/09
- Total Trades = 18
- # Costing Trades = 4 (2 Longs, 2 Shorts)
- % Profitable Trades = 77.7%
- Gross Profits = $3,680
- Gross Costs = -<$320>
- Profit Factor ($Profits/$Costs) = 11.5
- Net Proft = $3,360
- Avg $ Per Trade = $187
- Avg # Trades Per Hour = 3.43
- Only Trading 1 Hr = $641.41

Monday, 3/16/09
- Total Trades = 12
- # Costing Trades = 2 (1 Long, 1 Short)
- % Profitable Trades = 83.3%
- Gross Profits = $4,970
- Gross Costs = -<$730>
- Profit Factor ($Profits/$Costs) = 6.81
- Net Proft = $4,240
- Avg $ Per Trade = $353
- Avg # Trades Per Hour = 1.85
- Only Trading 1 Hr = $653.05

The key here is to follow the trading strategy to the "T"!!!! I also during this backtesting experimented when I did not follow the strategy, but did not record those results. Sometimes I just went by my gut. Profits actually turned out better, in that when I saw I was at resistance or support, I would get out for greater profits, but that wasn't following my trading strategy to the "T".

However, by not following the strategy, I would incur FAR GREATER costs, and in the end, that really ate into my profits.

Following a good trading strategy to the "T", at least mine, will often not give you the very highs nor the very lows, but it will get you consistent profits and keep your costs down.

One of the caveats of INSTANT replay as opposed to STREAMING replay is fairly different. The candles are already formed as you replay in backtesting. In STREAMING replay, this is far better as each candle is formed as if the market were actually occurring. Sometimes what looks like one thing is developing, is really not and STREAMING is much more realistic.

Unfortunately for the CL, only instant replay was available. I was just gathering the data for my uncle on how profitable using my strategy could be, but he doesn't like to get in and out of trades so often.

Now I'm going to trade the same hours for the ES, which is what I trade and see what the results are.

Trading Strategies

The past few weeks of trading have really been quite amazing, especially last week. However, with some of the trades I made last week, I felt somewhat uneasy about my trading and that I was deviating from things quite a bit.

Not all profits are equal. Yes, it's great to have profits and that's what we ultimately want. But, if we make profits due to bad trading, that's not good. It gives you a sense of false confidence. The feelings I was experiencing last week of somewhat euphoria were a bit disconcerting, as it's sort of like the "Evening Star" candlestick pattern.

Not a good thing, but it's a good thing my intuition (I'll call it the Holy Spirit prompting me) kicked in and I'm getting more in tuned to that side of me. In the past, I would ignore those things and it has been quite detrimental.

Over the weekend, I connected with a very experienced trader whose trading style is similar to mine. We had a lengthy discussion for quite some time. He shared with me some journeys of some very good traders, and I would like to think I'm a fairly decent trader. He shared of their tales of how they've taken small accounts into very large accounts, only to lose it all or most of it.

That's just all too familiar and hits very close to home for me. Not something I want to dwell on, but to take note to use it as a reminder to serve me now in the present to be aware of those uneasy feelings, especially when you're making profits. Most likely, that means you're not doing something correctly.

Today I got bit in the butt with a trade that really went against me very bad, which I refused to get out of until it was way too late. It's not like I haven't taken costs before, but that cost really got to me. In the middle of the trade, something else happened with me, which caused me to get a hold of my former trading coach to ask him some questions. This turned into a 3.5 hr discussion.

He asked me some point blank questions like:

1. Are you following your trading plan?
2. What are your trading strategies?
3. Which ones are you using for which trades?
4. Are you following your trading strategies to the "T"?

What came out of the discussion were:

1. My trading strategy was way too complicated.
2. My one strategy had multiple strategies incorporated into it.
3. I wasn't following my trading strategy completely, rather deviating a lot.
4. Take all the ambiguity & vagueness out of my strategy.
5. Be clear, concise -- keep it simple.
6. If the setup is made, TAKE the trade, each and every one.
7. If the setup is NOT made, do NOT take the trade EVER.
8. Create a checklist.
9. Backtest the strategies & find out the percentage profitable trades, as well ROI.
10. Backtest on varying trading days/conditions.

This was quite humbling to have this discussion with my trading coach. Didn't realize I had made things so complicated, but I had.

I've spent all afternoon & evening working on simplifying my strategies. I have one bear and one bull strategy. Took the prior strategy and greatly simplified things. I no longer use Bollinger Bands or Parabolic Sars, and I cut out the EMAs for the Volume. My charts look a lot cleaner.

Tomorrow I'll spend the day testing it on various trading days, as I've only gotten through a couple days so far. I'd like to see at least 50 trades on each strategy. That's still not a huge sample, but enough for right now as I've personally done thousands of trades already.

I'm feeling much better with regards to my Trading Strategies. Wednesday I hope to do it on various timeframes. Today I've only gotten to do things on a 3-minute timeframe.

The truth of the matter is if you have one really good strategy that works in a multitude of trading scenarios (volatile and non-volatile days, trending or non-trending).

My Trading

My trading has gotten better. I've really experienced some phenomenal results and will just have to leave it to my reader's imaginations as to what that means. I'm far more disciplined, rarely emotional, stick to my trading plan, stop trading when I need to, and the list goes on and on.

There are some days I'm really in the groove of things and others I am not, so I adjust my trading. A couple of the gurus of trading suggested to not trade unless you are well. The fact of the matter is that really is very unrealistic for me. As I'm working on focusing on the correct things, I had to find a way around this.

In November, I began trading every day no matter how I felt, what was going on, etc. It really has changed my profitability, confidence, skills, etc. When I was trading only when I felt well, it was maybe 1-2 times a month and that was not enough to develop my skills properly. Though I had good skills, it didn't allow me to refine them properly.

I've got to see a myriad of market behaviors in the past 5 months from slow to fast days; lots of news, no news, moderate news, elections, inauguration, holidays, companies going bankrupt, the world's economy, blah, blah, blah. It's been highly interesting, especially as a technical trader.

Another thing I'll admit is that I do not real a lot of news period - whether it be business, world, or local news. I've been working on decluttering my life, which includes the information that comes to me. What I've found is if you pay close attention to your technicals, it will already tell you what traders are about to do, or at least what they are thinking of.

What is your job, then? It's to just follow what the market is doing. If it goes up, you go up with it. If it goes down at 11 am EST, you go down with it. If it only wants to do this for 1/2 hr, then you do it for 1/2 hr.

What about the swing trader? You just use a different timeframe than I would, like the daily, weekly and monthly charts instead using the same technicals. It works. A chart is a chart is a chart. No difference.

My profitability is now often more in the 80-100% for the day. Granted, when I'm at the 100% for the day, I'm taking fewer than a dozen trades. If I'm in the 80% area, I'm closer to 12-30 trades. I do scalp on some days. Other days, I'm more trending. And still other days, I do a combination of scalp & trending.

Aside from trading every day, documenting, analyzing my trades, I'm doing a lot of work on the psychological aspects of my life - lots of personal stuff, trading, mindsets on money/abundance/prosperity. It's the combination of all these things, and the greatest thing, it's God working in my life and giving me favor in things.

God really gives me the eyes to trade, tackle the things in my life, getting rid of "baggage", and meet life with a positive, energetic enthusiasm. That's not to say that I do not have my down periods, because I do, but they are infrequent and do not last long. The cool thing about healing is I'm so much more aware these days and am empowered to do something about it.

If something isn't right in your life, or you have negative attitudes, explore the root of those things and begin addressing them. They are holding you back.

Anti-Rich

I was reading an article by Randy Gage that pointed out some really good things. Are you secretly against the rich? Be honest.

Some of the thoughts I've had are:

1. Rich people can't be happy.
2. They probably did something dishonest to get that.
3. When something bad happens to someone rich, you secretly are happy.
4. You can't be godly if you're rich.
5. It's better to give than to receive.
6. They probably don't have a happy family life.
7. Seeing a multi-millionaire pro-sports person go broke makes you happy

These are just some of the things that come to the top of my head. There are many more. These aren't things I think about now, but they have been things I've thought about, admittedly. I don't like to admit things like that, but we're being honest here.

Unless you become aware of where you are self-sabotaging yourself, acknowledge it and then deal with it, you'll be stuck. I don't want to be stuck, rather to climb out of that hole that our society, culture, families, environment has helped us dig.

Hey, throw me a rope and hoist me outta here!!! I'm no longer as heavy as I used to be (with regards to "baggage"), but yes, there is still some weight. Heave, Ho!!! Heave, Ho!!!!

Martyrdom, EMDR, EFT

I don't know that I spelled that word correctly, but I wanted to address this topic that came up last week in my EMDR therapy session and we collapsed this target. See if any of this resonates with you.

Growing up, I saw my mom exemplify the martyr attitude big time. Without going into all the gory details, I'll just generalize, as many of us can relate to this. My parents grew up in abject poverty in a different country and immigrated to America to have a better life for themselves and their future children (like me).

My parents sacrificed a lot and that's where I'll begin. Sacrifice, sacrifice, sacrifice. What does a martyr do? Sacrifice.

A true martyr does not act like a victim, rather is a champion that makes willingly sacrifices what they believe in.

As in the case of my parents, especially my mom, bless her, she often acted in despair, desperation when she got highly emotional. Guess how I have acted! Exactly like my mom. When you're going through that, it's a challenge to be aware that you're doing that, but now, as I step back to replay how I've been, this is where I have been a lot like my mom.

She is a hard-working mom who greatly cares for her kids, but a positive, encouraging person, she was not, at least while growing up. She has changed some, but still, the underlying premise for her is a negative thing. She did overcome a lot from the childhood she grew up from, and she did do the best she could. Don't most parents want to do what's best for their kids? My parents are no exception.

Just the resources available to me are much greater than when my parents were parents.

Anyway, how does this apply to trading?

Some questions I've asked recently:

1. Does trading have to be hard?
2. Can making money be super easy?
3. Can a person trade for a minimal amount of time and make good money?
4. Can I be super focused no matter what is happening around me?
5. Do you have to sacrifice in trading?
6. Do you have to sacrifice to make a lot of money?
7. Do you have to sacrifice your family to consistently make a lot of money?
8. Does it have to take a long time to learn how to trade profitably consistently?
9. What causes a person to trade without a trading plan?
10. What causes a person to not set their stops (profits & costs)?
11. What are you afraid of?
12. Do you have scarcity or poverty mentality?
13. Do you hoard?
14. Is giving things away hard for you?
15. What do you find hard to do?
16. Do you worry? What do you worry about?
17. What thoughts dominate you?
18. How do you generally feel?

These are important questions to know the answers to. I'm not a psychologist, have no training in psychology whatsoever, but the school of life in trading has taught me a lot. I found when you have the technicals down and you're not getting to where you want, it's most likely your belief system you're living out and it's not a very good belief system.

Awareness is key, but once you're aware, then you need to do something about things. You need to take appropriate action to get rid of unhealthy mindsets & behaviors and replace them with healthy things. If you get rid of them, and don't replace them with good stuff, then the likelihood of something not good filling it is greater. Humans have a propensity to go towards areas of least resistance.

So, take note of your feelings towards things when they happen.

If a friend gets a job promotion at your work, are you happy? If not, why? Take note.

Your friend has lost the 10 lbs she's been wanting to and you're unable to lose. Are you jealous? Take note.

You're "struggling" to pay your bills, but your friend is going to take a luxury cruise in the South Pacific, which is your dream vacation. Do you secretly wish it was you and why should that person get to go when you're struggling? Take note.

You're husband who left you is able to live in one of the nicest areas of the valley, but isn't being responsible to pay his debts which you both are legally responsible for. Do you resent him? Take note.

These are just a few examples I've had to deal with or just made up, but you replace the scenario with your own thing. Take note of what your emotions are, because I can guarantee you that they will come up in your trading in one form or another.

The JEALOUSY emotion could cause you to overtrade, so as to compete with other traders. What's the competition? No one is out to get you. There is plenty of money to go around.

The RESENTMENT emotion could cause you to also overtrade, but in anger. Anger clouds your trading decision. You feel the need to pay the market back for it attempting to do something to do. The market doesn't give a hoot about you, much less know who you are.

The STRUGGLING emotion can cause you to also overtrade, but this is not like scalping but will cause you to take too many costs and not wait out trades. This also coulds your judgment. You'll stay in costing trades & not get out or get out of profitable trades and not wait long enough.

The UNHAPPY emotion can cause you to also not see clearly entries & exits. It sort of grays things and if you're a daytrader, or scalper, it's imperative to see clearly entries & exits.

You can sort of get the jist how our emotions can really wreak havoc on trading. It's best that you become aware of these emotions and where they came from. Often many of these things come from our childhood or traumas that we've faced.

Okay, so now you've identified and are aware of these emotions, how do you effectively deal with these? These are things that get engrained into your physical cellular makeup -- in your body. How do you get rid of these things? I use 2 different energy psychology methods:

1. EMDR (eye movement desensitization reprocessing)
2. EFT (emotional freedom technique)

For EMDR, I go to a professional therapist that specializes in this. For EFT, originally back in 2001 when I first learned of this, I went to a therapist for about 8-10 sessions, but have only done this on my own since then.

You can do a search for articles on the internet for both. EMDR is often used with people regarding traumas. Divorce is a trauma.

The people I like for EFT that have good articles are:

1. Carol Look
2. Brad Yates
3. Gary Craig's Emofree site

Both Carol Look and Brad Yates deal in a lot of abundance/prosperity issues, but they aren't totally all into "weird" stuff for me that freak me out. Plus, the way they present their materials, it's very straight forward and not confusing, gets to the point. Brad Yates has videos on YouTube. Check them out.

I remember in 2001 when I first learned EFT, I was at a desperate point in my life. Honestly, I didn't believe it would work, but it did. The cool thing was I didn't have to believe that it would work, just physically do what the therapist told me, which was tap on these parts of my body with my fingertips (face, torso, and hands mainly), talk about aspects of a problem I was having and watch things change.

That's exactly what happened.

Through the years, I was able to overcome many addictions, obsessions, compulsions, fears. I don't know really which ones were addressed by EFT and which ones were by EMDR specifically. It's worth a shot. If you have questions, shoot me an email or make a comment.

It's Only A Penny, It's Only A Dollar

One of the things of the Bible that I'm learning is God says He will give more to those He can trust that will manage the little He gives them. That's one area - money management. There are other areas such as giving (i.e., tithes & offerings), as well as investing.

Up until the past year or two, I'd always disregarding pennies that I found in the parking lot or wherever, just because they were pennies. I discriminated against the denomination of money that was coming to me, because there was a sense of pride. I don't need that penny. It's beneath me. Then, I listened to some CDs of T. Harv Eker on the millionaire mindset. He talked about always picking up the pennies, because it IS money coming to us. Every time he found a penny, he would get so incredibly excited about it, because it was money coming to him.

What I didn't realize at the time was your belief system's rudder is our emotions that we attach to things, people, events. Those emotions, the dominant emotions we have, hold our belief system in place. I was wanting money to come to me and it was, but in the form of pennies. I was rejecting that. My subconscious doesn't know the difference between a penny and a $100 bill or a million dollars. All it knows is that I was rejecting money.

So, on the one hand, I wanted money to come to me. On the other hand, I was doing things like rejecting money coming to me. And, as I focused on things happening to me in the natural, my dominant energies were focused on those negative things, which drew more of those things to me. I was not wanting those negative things, but since those were the things that were dominating my emotions, that's what I attracted more of.

There are various physical ways money comes to us that we could be rejecting:

- Pennies on the ground
- Not paying attention to our bills & fees that can be assessed
- Not asking
- Some offers to pay for something (i.e., a meal) and you reject that
- Not paying things on time
- Overspending
- Hoarding
- Not sleeping
- Not taking care of our bodies & health
- Not being grateful for what we do have
- Grumbling about our jobs
- Wrong attitudes
- Thinking a job is little when it isn't
- Thinking something is big when it isn't
- Not accepting responsibility for our actions
- Blaming others
- Not keeping track of our money
- Haphazardly throwing money into your wallet, purse

Certainly there are more things than this.

What about our thought life? What about the words we speak in our heads, outloud? Have you really paid attention to this? What kinds of questions are you asking?

Often our thought life is pretty self-sabotaging. Are you where you want to be in life or making progress towards it? If you're not, you've got to seriously take responsibility for every single thing in your life, evaluate your thoughts, words, emotions, attitudes. These are the things holding you back. No one else is holding you back but yourself.

That's a pretty harsh stance to take, but as I write these words, I see how they've impacted my very own life. I am where I am because of the choices I've made. It's no one else's fault, but mine. But, the really awesome, amazing thing is I am a daughter of the most High King - Jesus Christ. I recognize these areas I've totally bit the dust in and really f***ed up big time. God is my Redeemer.

I don't have to feel defeated and have a pity party, although, I have. But, I can be assured as I eat crow and take my lumps, that just like the Prodigal Son in the Bible, God is waiting to Redeem me, to pour out His blessings and favor on me. Yes, there are consequences for all our actions. God gives me grace to accept the consequences and to move on. Isn't that simply amazing?

It's not just a penny. It's not just a dollar. It's not just a little complaint. It's not just a job. It matters.

Trading Hours

An important thing I learned today, which could've been not good was that I didn't know that daylight savings hrs have changed. My trading hrs are now from 6:30 am to 1:15 pm, rather than 7:30 am to 2:15 pm.

I was wondering why everything was stopping. Duh.

Thankfully I wasn't in any trades at the time.

I'm used to this change being made in April, not beginning of March. What's the deal? I'll have to definitely make sure I go to bed earlier.

Maybe I heard somewhere, but it didn't register in my head.

Lent Give Up

I would like to preface this with that I'm not Catholic, but my pastor grew up in a Catholic setting. He challenged our little church to give up something for lent. For the congregation, he challenged us to give up TV and the internet for 40 days - basically 40 days of fasting.

Obviously as a trader who works for herself, giving up the internet is a no go, however, what he was talking about was wasted time on the internet doing frivolous, non-value-added work. I don't care to watch TV and that was something I nixed off my list 3 yrs ago. Yes, I periodically do watch TV, but I would say our max hours for the month is 4 hrs, if even that.

Anyway, I had one thing God brought to mind that I needed to give up, at least for these 40 days. It was one of my closest friends, someone I have depended on for years, as our communications was quite close, and I have an incredible love for him. There are aspects of our relationship that were not pleasing to the Lord, and as God gently has been reminding me for months now, He (God) wanted my full devotion, not 99%, rather 100%.

God is a jealous God and He wants 100% of me.

If we were honest with ourselves, even as traders, do we give 100% in our trading, or do we make excuses for this or that?

Thursday was my first day fasting from my friend. I even said that at the end of this 40-day fast, which ends the day after Easter, be prepared that if God calls me to give up the friendship, that I needed to be obedient. That's a tall order, considering I love my friend so much. How do you give up one of your best friends? I really don't know, but I am very hard-pressed from every side to have a deeper, more intimate relationship with God.

If the thing you value most is not worth dying for, then is it worth anything? God is #1 in my life, but is that just in words? Maybe in this interim, he will also get his life right with God, all aspects, not just the ones we want.

Now, this whole thing may seem extreme, but really, it isn't. If you're married, do you want just a part of your spouse's devotion or do you want all of it? My former spouse was not devoted to me, kept giving his devotion to other women and things. It greatly hurt me, and in the end, destroyed our marriage and family, for those things I'm now reaping and so challenged with.

What about your children? Do you want them to just partially obey you, choosing only the things they want to obey in, or do you want them out of love to willingly obey you? See the heart attitude in these relationships? It's a relationship with God.

I did not trade with real money on Friday, but it was something I needed to. I did something very different in my practice trading. I increased my risk in my trades to that which I was doing at the beginning when each of those accounts were very small. All my accounts I start with $1K-$3K. Even if I did 1/2 or 1/3 or 1/5th of the account size, as my account size grew, I was not consistently doing that. Even as those accounts grew to $20K, I was still using 1-5 contract sizes, for the most part. Sometimes I would use more, but usually not.

God impressed upon me that was not good use of risk. So, a couple weeks ago, I began increasing my contract size when I would enter trades. Instead of legging in with 1 contract at a time, I would leg in with 2 at a time, then 3, and now I am up to 20 contracts for 1 position. This keeps me constantly managing my risk better, making sure I set appropriate stops.

Each of the accounts I have, funded and non-funded, all are different sizes, so I'm constantly changing what this is.

The bottom line for Friday's trading alone in real-time practice (the only difference between funded and non-funded is the account chosen; all movements are exactly the same) was in about 2.5 hrs of trading in 2 different practice accounts, I made over $250K net (after all costing trades & commissions). I made a few really big mistakes that hurt pretty deep, but were recoverable.

I made about the same amount in costing trades, so if we took those trade, in order for me to make that net, I really had to have made over $750K in that 2.5 hr period. Pretty incredulous, isn't it?

One of the goals I have is to make over $100K in one day with a small amount of money (under $10K). Can it be done? I think so, but one has to be sharp, focused, execute flawlessly (take profits & keep costs down) one's trading strategy.

So, why would I bring up my lent give up? In practice, I've never made that amount of money in THAT SHORT of an amount of time. Actually, I don't think I've done that in a super long time.

To be able to do this with a smaller account, one needs to have a strategy that gives them many signals to take entries & exits quickly on a faster timeframed chart. My strategy works on very short to very long timeframes, so I just have to select the timeframes. Basically it would mean somewhat scalping, as I do not always know whether it will make the whole run or not. It does not require me to be perfect, meaning all my trades are profitable, but I do need to have in the 80+% profitable and keep my costing trades small, relatively.

This would all be done on the ES taking anywhere from 1-4 pts, but mainly in the 1-2.75 pts range typically. However, I would be taking 1/2 of my account size and putting that at risk to generate profits.

Anyway, I will write more about this when I feel inclined. This would basically require, most likely several hrs of trading, not just 1-2, maybe in the 4-6 hr range. I need to backtest to see if I can do this on any of the days like last week.

The more volatile the day, the better, as that's faster money, if you can take profits quicker and follow the trading strategy well.

It would certainly be an interesting experiment.

Letters on Money

If your trading is great, no issues, then this doesn't apply to you. However, if you find yourself stuck, not knowing why you can't get further on your trading, or you go so far to find yourself stepping back, I change you to do 2 things this week:

1. Write a letter to your money.

2. Have your money write a letter to you.

Yup, you read correctly. When you write to money, treat it like a person. What would your money say about you?

I found out when I did the first, that I sabotaged myself with money as my parents grew up in abject poverty. They became slaves to money, where money controlled them. They wanted to acquire more and more. They managed it well, spent time with it, cared for it. I wanted my parents' attention, especially my dad's, but he was too busy working, making money.

Secretly, I resented this. "Money" took my spot, got my father's love and devotion.

Can you see here how this COULD be a form of self-sabotage. I want to increase my accounts, acquire money, but, in my subconscious, I resent it from childhood?

When my money wrote a letter to me, it told me that I was not managing it well. Sure, I managed my trades, but I wasn't consistently attending to my checkbook in keeping it balanced. I made the excuse of saying I wasn't administrative, so that meant I didn't have to be as orderly with my files.

A part of taking care of money is to manage the systems it flows in and out of. That includes my filing cabinets, paying bills on time, not getting fees assessed to me, not ignoring things. Everything isn't automatic. Some things take for me to do manual intervention, to periodically assess where I was.

There was a time I did do all that, but when things got really complicated and my former spouse was managing a lot of things, I lost track. Getting back on track is a lot of effort, especially to figure out what he did, undo any negative things by taking responsibility for it all, and taking actions. Suck it up.

As you begin to address negative belief systems that have been programmed in you, your belief system will fight to keep those false belief systems in tact. Keep pressing on and don't give up. I'm not.

My goal is still to be a mega millionaire in the near short-term and I'd like to see each of you there, too.

People who are gracious, thankful, do good things with money, when you give them more, they will do even more good. I hope you're one of these people.

God bless you. Happy trading.

Life

A part of trading is being able to appropriately manage one's life. Few of us do have all our time solely being able to commit to trading. How some of the other people like John Carter with a 1 and 3 yr old or some of the other traders I know who have children, young children, how they manage to do videos, keep up blogs, twitter and the like is byond me.

I just noticed that it's been 9 days since my last post.

I have been trading most of the days, except one. I've been net profitable on all my days, taking bigger positions. At this point, I'm not going to be sharing my results, but they are similar to before, just with bigger contract sizes as my accounts are steadily growing.

Currently, I'm dealing with things with my ex-husband that are not exactly fun. Won't go into the details, as it's not necessary, and I don't really want to focus my energies on negative things. But, some of these things have greatly impacted my subconscious, my sleep, etc.

So, I'm finding ways daily to just relax, have mental vacations, to not absorb myself and replay stinking thinking movies. One of the things I've been doing more is playing the piano, which is stimulating the right side of my brain, the creative side, rather than stimulate the analytical side.

It's been helping me to relax, to help me to trade better. Most days, I can achieve my goal in less than an hour, unless I mess up. I've been around the 70% mark in terms of # of trades that are profitable. That's pretty good. Nothing prideful, just following my trading strategy. When I don't, not a good thing.

Figure out what you want, go for it.

I asked my sister who is a realtor to begin looking for houses in the $1-3M range. Yes, I did that. It really gets me out of my comfort zone. I'm nowhere close to being able to plop down money to pay for something like that, much less furnish a home of that size. Right now here in my metropolitan area in the area I want to live in, that would be a really nice home.

If I lived in the Bay area, maybe not such a big deal.

Anyway, I have a friend who has a 2008 custom Bentley. It's absolutely gorgeous. I'm going to ask her if we can drive around in her car for an hour or so. I want to see how the rich and begin getting into gear better for thinking wealthier, abundance, rather than lack.

There are other things I dream about with making lots of money, and one of those things is to help out my church and I have a list of charitable organizations whom I want to give to more that I have supported over the years, as well as new organizations I've been wanting to but haven't.

Anyway, I'm working to change my subconscious belief system that needs a big kick in the booty to ruffle it up, shake that false belief system out and replace it with truth. Then, I can really step into my trading with the gusto I believe I can.

The thing is, if you know what you're doing, and you're not doing it, it most likely has something to do with your belief system that's imbedded in your subconscious. Until you change that, it doesn't matter how good technically you are, the belief system will do everything in its power to keep that belief system in place.

It was exciting for me today to have this dream while sleeping where I began challenging my belief system. I saw my beliefs, acknowledged them, and paid no mind to them. I began taking a different road, a better road.

The past couple weeks, I've had a number of "events" occur. The thing is, they are just events, neutral. Unless you place meaning to them, they mean nothing and you can treat them as nothing. Treat "bad" events as nothing, neutral, so they do not consume your energy. Dominant energy wins.

Similarly, if you have a trade go against you, don't get all bent out of shape, abusing yourself mentally and verbally, rather, treat that event neutrally emotionally. Figure out what you did wrong, or maybe you did nothing wrong, had all your stops in place, and the trade went against you. It happens. Other times, you may have all your stops in place, but your entry into the position was incorrect because you read your indicators wrong or overlooked something.

Use every single one of your trades whether profitable or costing as trades you can learn from, to improve from. Could you have had a better entry? Why so? Did you wait too long or not wait long enough? Did you exit the trade too soon (this happens to me often) or didn't exit soon enough?

None of the answers to those questions need to be emotional. It's when you attach emotions to the negative events and downplay the positive events, what that does is reinforce negative situations, and that will dominate. You will attract more of that into your life, rather than the positive you want.

When you make a profitable trade, whether it be a few dollars, hundreds of dollars, or thousands, celebrate. Jump up and down, shout, get EXCITED!! Hey, when you see a penny on the ground, gosh darn it, pick it up and celebrate, "I'M A MONEY MAGNET!!! THANK YOU GOD FOR MAKING ME RICHER!" Get excited!! Don't discriminate with the amount of money you are receiving. Your subconscious doesn't know what denomination, rather it just knows it's money coming to you.

I had to take a serious look at how I receive money and found that I did discriminate. When money came from my former spouse's girlfriend, that just angered me. But, what I started doing a month or so ago was to just thank God that money was coming to me, no matter who it was coming from or how it was coming to me.

When you get discounts, or get something on sale, or a gift, or play Monopoly or anything that involves money (whether real or not), celebrate, get excited that you ARE getting richer. This begins to reprogram your subconscious to WANT to receive money.

I'm sure with those trading, you've probably had this happen to you. You're profitable on a trade and you could've taken profits, but you didn't. Instead, it turned into a costing trade. You're about to receive money, then you find it slip away from you.

Take a good hard look as to how you treat money, all denominations. Are you taking care of your money? Are you managing your money? Are there areas where you are self-sabotaging, like you're rejecting money? You get it, but you reject it? Like, you see a penny on the ground and you reject picking it up? That's rejecting money. It's a little thing, but your subconscious doesn't know it, so you reinforce that enough, no wonder why you reject profits in trading.

These are just some thoughts I want to share that God has been working on me with regards to money.

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