ES Journal - 2012
- Thread starter Buy1Sell2
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The next couple of weeks are going to make all the newly minted bulls question why they changed sides. Fundamentally, this is the weakest economy since we bottomed in 2009. The fact that we are still trading at 1335 tells me all the stock funds are piled into US equities. Other world markets have been taken to the woodshed. QE 3 won't make the market fly this time, the economy is beyond repair. A good old fashioned recession is in the cards.
http://www.elitetrader.com/vb/attachment.php?s=&postid=3569543 previous gap not filled, maybe close enough...sh 35.5
That is actually normal, for anyone who wants to become good.
Nature has a Law...... you must go through the crucible of many setbacks to prove you have the BURNING DESIRE and LOVE of what you are doing to see it through to fruition.
Same thing happened during third year engineering school. We all thought we were getting pole axed by certain classes, bludgeoned with some of the most abstract math you can imagine, absolutely abusing our brains to stay afloat.
Then senior year came around, the dark ages began to fade, and we slowly made it out with our diplomas.
C = continue.
In other words........ RISK MANAGEMENT
Been there done that man. Best bet is to stop for a day. Watch the market and look for opportunities. GOOD opportunities. Unless you feel incredibly confident in the trade don't do it!
I was on losing streak awhile back, I deposited some more money in and decided to take a few day break of just wAtching the market. I turned $7500 into $16,000 in 5 days. I picked up on some patterns and took advantage of them. However due to poor risk management I lost basically all of that in just a couple days. I got too confident and my strategy stopped working lol. But nonetheless I feel like sitting back and watching for a day should help.
Just a thought
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