$286 left

schizo said:
Man, I wish there's a way to help. But at the end of the day, you're the only one who can help yourself. Having said that, the market already sold off more than 30 points before the opening bell. Why were you so bent on going long? I hate indulging myself with hindsight analysis but I need to point this out. What were you thinking?! Just look at the channel lines. They're clearly sloping downward and you were fighting against the trend. Then consider your last trade (number 5). You took the trade as soon as the price broke below the support line. Then you held on to it for 3 hours.

I apologize if I sounded too critical, but I feel you need to go back and really get a good grasp of PA (price action).

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There's too much missing information from his trading that he has not shared that would allow another trader to determine why was he so bent on going Long or what were you thinking and then held it for 3 hours.

It can only be answered by someone sitting right there with him (in person) and recording what he's doing in his home trading environment.

If that was revealed...you'll be shockingly surprised. Simply, a lot of times the problem is not trading related but it has a great impact on the cognitive decision making process while trading.

wrbtrader
 
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wrbtrader said:
There's too much missing information from his trading that he has not shared that would allow another trader to determine why was he so bent on going Long or what were you thinking and then held it for 3 hours.

It can only be answered by someone sitting right there with him (in person) and recording what he's doing in his home trading environment.

If that was revealed...you'll be shockingly surprised. Simply, a lot of times the problem is not trading related but it has a great impact on the cognitive decision making process while trading.

wrbtrader
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It’s human tendency.
We want to buy low and sell high,
So a lower low is actually a better buy ...
But too many end up bearish in a bull market.

I used to do exactly the same thing.
But you really have to embrace reality.

Never argue with the tape !

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Further reading
Some great Jesse Livermore’s quotes.
http://www.quoteswise.com/jesse-livermore-quotes.html

Joseph Tussman: Getting the World to Do the Work for You.
https://fs.blog/2016/02/joseph-tussman/
 
Your problem is poor saving, be sensible. If you keep gambling with your last dollar then I don't want to think about what you will do with a vast amount.
 
schizo said:
You took the trade as soon as the price broke below the support line. Then you held on to it for 3 hours.

I apologize if I sounded too critical, but I feel you need to go back and really get a good grasp of PA (price action).
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I apologize if I sound too critical, but didn't you recently do the exact thing in reverse, i.e., short a strong trend higher that went 100 points against you?

Regarding Friday - the odds actually were approximately 57 % that we'd close higher than we opened, so it's not a very clear short on that basis alone (strong gap down).
 
Laissez Faire said:
I apologize if I sound too critical, but didn't you recently do the exact thing in reverse, i.e., short a strong trend higher that went 100 points against you?

Regarding Friday - the odds actually were approximately 57 % that we'd close higher than we opened, so it's not a very clear short on that basis alone (strong gap down).
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Was it 100 points? I don't think it was that large. :) What I remember is that I increased my stop loss at your urging. :sneaky:

However, that was supposed to be a swing trade and I planned on holding it for a few days. You would never see me doing that with my day trades. In retrospect, I should have known better to have bailed out much sooner. Anyway, I admit I sounded hypocritical.

Edit: I've been monitoring this thread and I really wanted OP to succeed. But that last trade, ughhh!
 
Thanks everyone for trying to help, really appreciated it. But trading is a very personal thing, I can only be saved by myself.

I'm on a self-deconstructive mode. I made the same mistakes as last trading day.

P&L: -44 + 11 data feed fee
Current balance: 92

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