Kardec TraderFutures Trader. Creator of The Midas Touch. Mentor

I've made tons of money accidentally!

17 Mar 2024 · 1 min

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0:52

A short monologue by a trader (Kardec Trader) reflecting on how some profitable trades were purely luck because they didn't follow his systematic criteria, so he treats them as 'bad trades' despite gains. Conversely, some losing trades were actually well-executed and aligned with his risk management and playbook, so he regards them as acceptable losses. Overall theme: distinguishing luck from disciplined strategy and evaluating trades by their adherence to a plan and appropriate risk sizing.

Chapters

I've had days where I've made tons of money and I've gotten purely lucky. And when I say luck, I mean in terms of there was no systematic approach to that trade. It was just something that made sense in the moment that I thought made sense. But then when I go back to it, I'm like, well, it didn't fit my game plan. It didn't fit my playbook. It didn't fit any criteria that I had. So I essentially got lucky. So I have to say, okay, I'll take the money, but I have to write this off as a bad trade. Vice versa. When I have. I've had bad trades in the moment I got in frustrated, I'm like, oh, man, I lost money. This was a terrible trade. And then when I go back to it, I'm like, no, this wasn't a bad trade. This was actually a great trade. Right? I have put out the risk, and it didn't work out. I lost money. It was the appropriate amount that I was willing to lose based on my account size, based on the trade I was taking, and it just didn't work out. And there was nothing that I could do in this predicament to make it better, and I have to learn and live with that.