Say 50%? How did you trade yourself out of the hole with a fresh start?
Anyone had massive drawdown before?
- Thread starter turkeyneck
- Start date
Yes. Slowly.
Quote from MAESTRO:
You do realize that in order to make back your 50% you need to make a 100% on the remaining capital, don't you?
Yes but what can you do if you already took the loss? It's better than never, i.e. a blowup.
Say how long? Did you trade small to get your mojo back?
Longer than I would care to admit. I reduced my trade size to a small fraction of what it had been. When I first started trading, I made a bit of money, became somewhat confident, and then proceeded to lose a lot over a fairly short period of time. As for my "mojo," I still have less confidence now than I did when I first started and when I was far more ignorant and naive than I am now. On the one hand, I suppose it's good that I lost the money that I did because it made me more humble and forced me to improve my technique. On the other hand, I'm like the cat that always raises its back when it sees a stove. I'm still looking for the middle ground.
Yes. I took a week off and went on vacation. The worst thing you could do right now is keep trading. Walk away for at least a week. If you don't you will lose more. Try not to think about the money you're going to miss by not continuing to trade, think about how much you didn't lose.
Take a break. It will take at least a week before you can get your head straight. You're going to second guess every single trigger you take until you can clear your mind.
It also wouldn't hurt to paper trade or trade on a simulator, depending on what you trade.
Take a break. It will take at least a week before you can get your head straight. You're going to second guess every single trigger you take until you can clear your mind.
It also wouldn't hurt to paper trade or trade on a simulator, depending on what you trade.
85% down over the first 6 mths of trading - expensive education, but worth it. I traded out again without additional capital in the following months and never looked back.
I think draw down is just the market teaching you a couple of things. I think most people don't stick around long enough to pay for their education, and if they do, don't wait around long enough for their education to pay for itself. Its that simple.
pneuma
I think draw down is just the market teaching you a couple of things. I think most people don't stick around long enough to pay for their education, and if they do, don't wait around long enough for their education to pay for itself. Its that simple.
pneuma
you did one or two things wrong,trade the same way on paper and analyze yourself without the mental boot in the ass on your mistakes,if its not personal(fake pain)you might see what you did wrong,there are a lot of people on et talking about losses,i would guess they are not respecting the volatility,nor a nother 200-500 pt move 2-3 day a week,an opinion will kill your acct in one day so you need to hedge for a safety net because its definetly not safe these days
You are so correc t, ammo.
I went into Weds. with a bullish opinion and lost my ass. Ironically, early in the loss I considered buying some Put options and getting out with a small loss: I ended up doing neither.
This affected me the next day also as I exited a profitable trade at a small profit even though my system said to 'stay in'.
I think I broke most of the rules in the book over the two day period.
I went into Weds. with a bullish opinion and lost my ass. Ironically, early in the loss I considered buying some Put options and getting out with a small loss: I ended up doing neither.
This affected me the next day also as I exited a profitable trade at a small profit even though my system said to 'stay in'.
I think I broke most of the rules in the book over the two day period.