14 Years a Trader, 10 Years a Coach
$7,000 Profit, but…
…did I just cut my indices trades too soon ?
Well, that depends on how you look at things…
So, I’m in the office, at my desk, charts everywhere as I monitor the markets.
My algos are doing what they were made to do – and we’re in the game !
We’ve caught a wave, and we’re absolutely hammering the indices:
The ASX, the Nikkei 225, the Russel 2000, the S&P 500 AND the NASDAQ.
It’s Thursday, Trump is on fire (as usual) and the markets are volatile as hell (as usual !), and our servers are glowing red-hot as our algorithms are picking up on the day’s momentum and finding us entry points to ride the moves.
By 11am BST we have 6 trades in.
By 1pm BST we’re in for another 5.
By 4pm we’re in for 18 open positions, and I’m starting to get a bit twitchy !
At this point we’re making money – a lot of money – over $7,000 to be precise.
Here’s the breakdown:
17 of our 18 trades are in profit, only one laggard is currently showing a $3 loss (I hate losing money – even $3 – it just doesn’t sit right with me !)
We have a balance of $101,889, we’re showing a rolling profit of $7,065, and equity of $108,995
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…Here’s the dashboard…
Yup, that’s 18 trades, stacked, and over $7,000 in profit !
So, Sit-Rep:
It’s Thursday, it’s 4pm, and we’re in the money !
The UK markets will close in 30 minutes – with the usual pullback in prices as traders cover their positions for the day.
Often-times the US market will then continue the previous rally into their close at 10pm UK time – or not !
Now here’s the dilemma:
Do I cut and cover ?
Or do I hold and hope ?
And more to the point, what would you do…?
Me ? What DID I do ?
Hell, I cut !
I de-risked – I bailed – I went to cash – I took the money (call it what you will) as fast as I flippin’ could !
The question is, did I do the right thing ?
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I’m guessing you want to know how did they play out ?
Well, let’s just say “they went to the bloody moon !!”
The outcome:
In the wonderful world of hindsight, yeah, I cut too soon…
But hey, in the time it took me to close out I caught a little more of the rally.
You can see the balance of the account stands at $109,184
Now we start each week with a clean $100,000 account
So closing out the week with a 9.1% realised profit will do nicely…
All-in-all, not bad for 4 days work eh !
The flipside:
I’ve lost count of the number of times over the last 12 years I’ve looked some serious profit in the eye and thought to myself “Hold… It’s got more to give…”
Only to see the entire market do a complete U-turn, and all my profits evaporate, right in front of me – especially when you have 18 trades stacked over 6 instruments – that can get VERY ugly VERY quickly !
When that happens (and trust me, it does happen !) it’s nothing short of soul-destroying…
So here’s a tip from a seasoned pro – See the money, take the money, cos no-one ever went broke by taking profits.
So, the moral of the story is:
Seeing a grand and not taking it IS an act of self-sabotage.
Don’t be that guy !
Want me to help you level up YOUR trading ? Learn 1-2-1 with a qualified prop-trader HERE
Want me to help you level up YOUR trading ?
