Hello, everyone! I’m excited to share some new trading content with you today. Are you curious about the best way to recover from a drawdown? I’m not sure if a public challenge is the answer, but it's worth a try!
Recently, a Twitter user suggested a public trading challenge, and although the thread has been deleted, I decided to give it a shot. I started trading with the challenge on Sunday and shared our progress on Twitter. Since the thread is no longer available, I thought I'd post the updates here for you to follow along.
I encourage you to join the challenge as well! There's no shame in trying, no matter the outcome. This is a great way to hold yourself accountable and keep track of your progress. Even if you have a rough start, being humble enough to share your results is a valuable exercise. Remember, arrogance has no place in trading - the market will catch up with you eventually.
You can use the #tradeinpublic on Twitter to share your progress and don’t forget to challenge your favorite furu.
Day 1 - 2023-03-27
I was very synchronized with the market, shorted the high of the day, and took profit relatively quickly. I used 2-4 MNQ lots, 15-30 pts stops, and stopped trading around noon. Pretty solid day overall.
Cumulative Results = +$420
Trades
Equity Curve for the day
Day 2 - 2023-03-28
I came in today with my favorite scenario: a sweep of the overnight’s lows followed by strong bullish momentum. So far (I’m writing this at 1 pm NY time), there’s been little volatility, and we spent most of the day below VWAP and the lower half of the 30min OR.
Cumulative Results = +$1,028
Trades
Equity Curve for the day
Zoom on the individual trades
It’s common knowledge that traders blow their accounts because of that ‘one big loss’. Well, the only thing that matters to me in this public challenge is to share some good practices around Risk Management, and I’ll try to manage my risks not to have one trade that ruins the challenge.
I hope you’ll do the challenge and progress in your trading.
Thanks for reading, folks!
It would really mean a lot if you could share this article. One of my goals for 2023 is to have 5,000 subscribers on this Substack, and I would be grateful if you could help me grow it.
Until then, stay safe.
- Retail
PS: I had a few people reaching out to me on Twitter asking why they were not receiving my emails anymore.
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Twitter: @itsonlymoney12
📩 retailcapital9@gmail.com
Love the spirit my friend and great words to motivate traders! Keep it up, I think I'll tag someone on Twitter