40% in 2011

Break-even today. I put a short on off the open that went sharply against me. As usual the adrenaline spiked like I was being attacked by a wild animal but this time instead of getting the fuck out pronto, I took a walk downstairs and made some breakfast. Then a sense of calm came over me because after thinking about it for a second I realized I didn't care. It's just a game. I knew getting into this it was pure speculation. If I blow out again I will be disappointed because I enjoy playing this game, but at least I will have solace in the fact that I gave it a try and had the discipline to limit my losses.

Anyway when I got back to my desk the position had moved in my favor and I was up modestly so I moved my stop to break-even and that's what I ended up getting. Oh well. I'm just happy I had the discipline to resist the urge to take stupid compulsive trades today. Somehow I am a bastion of self control when paper trading but turn into a total brain stem when trading live.

Still just trying to stay in the game...

Today P/L
$3.00
YTD
(11.71%)
 
Friday lacked conviction. Two out of the 3 trades I took I ended up closing at break-even 'cause I changed my mind about them. The third trade I took I was prepared to hold till monday but had a change of heard about that one also and ended up taking %.25

Friday PL
~$170
YTD
(11.68%)
 
Only took one trade this morning. It is the only opportunity that presented itself. I am focusing on the type of RTM trades that have been the most profitable for me but they do not occur very often. I'm not holding anything overnight at this time.

I don't feel great about puking all of my long term positions last week on what looks like it may have been a relative bottom but I don't have a lot of capital to work with so I can't risk massive draw-downs.

Anyway, I'm still having fun, just happy to be in the game.

Today PL
$122.25
YTD
(%11.02)
 
Didn't trade yesterday because I didn't really see anything I liked. Should have done the same today.

I tried to go long ADBE off their earnings miss. The price action looked good after the price plunged off the open but then it fell to pieces. Hairy shit. The price was bouncing around all over the place off the open on heavy volume. I suppose you can play that volatility but risky doesn't even describe it.

I'm holding one overnight position now that I don't want to hold longer than a few days. Hopefully it does what I think it will do tomorrow.

Today PL
($319.15)
YTD
(%10.51)
 
Quote from In2Deep:

My lizard brain took the reigns on a number of occasions, and I'm still suffering from adrenaline spikes. This can't be good for my health.

Any tips for limiting emotional stress, or remaining calm, would be appreciated.
More...

Remember to take full breaths into your stomach and not the shallow breaths into the upper part of your chest that people tend to take when under duress. It helps.
 
Quote from ElecEquity:

Remember to take full breaths into your stomach and not the shallow breaths into the upper part of your chest that people tend to take when under duress. It helps.
More...

Thank you sir for the advice. I will be a lot more conscious of my breathing. Also what has helped me psychologically is getting comfortable with the idea of failing, understanding what I'm engaged in is speculation where sheer luck is a significant factor.
 
Suddenly, things look different when real money is involved, eh?

(Those talking heads between your ears don't come out from hiding [paper trading] until there's real money involved.)

Also, in paper trading, nobody tracks your entries in order to fade you!
 
In2Deep, leave the shorts for the pro.

Imagine you're taking karate lessons for the first time. You're trying to perfect the roundhouse kick (long) in addition to the high flying kick (short).

Master the long side first. Only try the short side after you've found some success.

It seems to me like you want the best of both worlds. (Most beginners do).
 
Quote from In2Deep:

. My lizard brain took the reigns on a number of occasions, and I'm still suffering from adrenaline spikes. This can't be good for my health.

Any tips for limiting emotional stress, or remaining calm, would be appreciated.
More...

Do pull ups to failure, and then pushups to failure, and stretches, and slow deep breathing. Works wonders for me!
 
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