I have been trading for about 4 years. Spent the last two years trading full time with a retail account. A few months ago I decided to take the plunge and began trading for a prop firm. Since I began two months ago I haven't traded well, made a few rookie mistakes and haven't been profitable. I haven't had two losing months back to back since the first few months I started trading a few years ago. I have only loss about 2,600 over the past two months, however I haven't felt a slump like this before. I'm starting to doubt myself way too much and passing up on potentially profitable trades. Just hoping some experienced traders can give some advice on getting back on track and regaining confidence. Thanks in advance!
Advice on regaining trading confidence
- Thread starter Bray0817
- Start date
some guys go down to 1 lots, a string of small winners helps, try to tune out the other traders in the office
that can be coded and at least backtested. if results are promising and positive-then maybe you can trade it. other than that-imo it's more or less gambling.
when you have your results in your fist (at least based on past) that are proven statistically net positive-this fact would give you the confidence. at least-that's how it works for me
some guys trade better alone, when you get in a group there is an alpha dog, in the pits the big traders were always a distraction,i would see something clearly and if the alpha was selling where i wanted to buy or close, it threw me off, i found i did better off the floor ...something to think about, how much have your trading decisions been affected by the new playground
Go back to one lot or 100 shares. Cut your expenses. Live frugally. Work on new strategies. Exercise. Good luck.
1) What were you trading before the prop firm versus what you're now trading at the prop firm ?
2) Any major changes in your personal life before the prop firm versus your personal life now as a prop firm trader...health, residence, relationship, financial pressure, stress, eating habits, sleep habits...any major changes ?