Hi Mike,

I have a question. I have been a struggling trader for 16 years and was about to give up 3 years ago until l came across something that worked for me.

However, fear is preventing me from increasing size, as it brings an instant memory as to how l lost everything over the years.

I’m not sure how l get past this mental blockage but l just ordered Mindset by Carol Dweck
on your recommendation.

I feel my performance sucks.

Here is a snap shot of my progress with a prop firm, whilst on demo, and that’s still running.

It always seems to be that everything goes wrong as soon as l start scaling in, and a thought process that assumes the worst as soon as l take the scale in. What’s wrong with me?

@MikeBellafiore

Fear may be protecting you here.

When traders size up on our desk, they do so after a live period of significant success.

The best anecdote from the desk I can share is from one of my favorite success stories.  Here goes….

Frequent Flyer asked to speak with our Floor Manager and me about sizing up his trading.  Admittedly, I knew the strategy for which he wanted to increase risk.  And I was not enthusiastic before our meeting that this was a good idea.  I didn’t think there was huge potential edge and for growth in this strategy.  But I listened.

Frequent Flyer plopped down his trading stats from SMBU Performance Center, you can use Tradervue, of a trading strategy for which he wanted more risk.  His equity curve for this strategy was magnificent.  Inarguably this strategy deserved more buying power and risk.  And so I looked at our Floor Manager and he looked at me, and then we obviously greenlit an increase.

Frequent Flyer is a wonderful role model for sizing.  I am not seeing this with your trading and your question above.  We spoke offline and there was work ahead for you to do on measuring your edge.

Tag, import into Tradervue, and track your trades so you see where you edge is.

Then responsibly and consistently increase your sizing after a signigicant period of success- we use 10 trading sessions, and 20 percent as outlines.

If you have measured your results for a strategy then earned confidence can steer your sizing improvement.  Without this, that fear you felt may be saving you from a next blowup.  You have not earned the right to size up or have confidence in a strategy prior.

*no relevant positions

*I am heading home from vacation today from Disney World and looking forward to getting back to work.