You raise a really good point re developing a earlier warning system. I take my check in at 11am which is very helpful to stop any further bad habits, and I also write up at end of day. However, there is nothing pre-open to really close the loop so I will add this.
I have a broader risk management system where IF I hit $X loss, I go into my drawdown plan. I didnt/havent hit that here so the check in is certainly pre-preemptive.
Sorry to hear about your recent trading mistakes. Feel free to reach out or share if you need help.
Hi Austin, have you done any work on developing an "early warning system" or some form of proactive prompting approach that may allow you to recognise when you're straying earlier? Thanks again for sharing, your post was timed incredibly well for me as I was staring into the abyss after just a couple of weeks of terrible application (with the results to match). Going to get to work on my DRC today instead of trading!
Hi Austin, been following you on twitter since 2020 and I just wanted to thank you for sharing your highs and lows on your trading journey. I started trading in 2019 with a prop department of an investment bank in Malaysia. Your post has always been very insightful and genuine.
I would pledge if I can, however 2022 and 2023 has not been kind to me. Hopefully 2024, I can be skilled enough as a profitable trader and pledge. Please keep it up and looking forward to your next post!
You raise a really good point re developing a earlier warning system. I take my check in at 11am which is very helpful to stop any further bad habits, and I also write up at end of day. However, there is nothing pre-open to really close the loop so I will add this.
I have a broader risk management system where IF I hit $X loss, I go into my drawdown plan. I didnt/havent hit that here so the check in is certainly pre-preemptive.
Sorry to hear about your recent trading mistakes. Feel free to reach out or share if you need help.
Thanks for this Austin. I have/continue to struggle with overtrading as well. This is gold!
Pleased you enjoyed and hopefully of value
Hi Austin, have you done any work on developing an "early warning system" or some form of proactive prompting approach that may allow you to recognise when you're straying earlier? Thanks again for sharing, your post was timed incredibly well for me as I was staring into the abyss after just a couple of weeks of terrible application (with the results to match). Going to get to work on my DRC today instead of trading!
Thanks for sharing this Austin, after today I needed to hear this. Shocking finish to the month.
Hi Austin, been following you on twitter since 2020 and I just wanted to thank you for sharing your highs and lows on your trading journey. I started trading in 2019 with a prop department of an investment bank in Malaysia. Your post has always been very insightful and genuine.
I would pledge if I can, however 2022 and 2023 has not been kind to me. Hopefully 2024, I can be skilled enough as a profitable trader and pledge. Please keep it up and looking forward to your next post!
thanks for reading and the compliments
Great post Austin again thanks for sharing this (not so common) insight. Was wondering what the best way to get in touch with you was? Cheers
Thanks very much. You can contact me via email. Ill link in my bio: https://baytrading.substack.com/p/bay-trading-an-intro-by-austin-mitchum