you do not need the advice, you need kick in the ass
, because since you doing it long enough, you know all the answers alreadyjust keep doing what you doing, or give up...
Frustrated learning and losing
- Thread starter Sure Chap
- Start date
you do not need the advice, you need kick in the ass
, because since you doing it long enough, you know all the answers alreadyjust keep doing what you doing, or give up...
Today, is kinda a rough patch. Trading has been a long and painful journey I've evolved; I learned the hard way the need to manage risk. It irks me how I'm not making money even after all these years and after all the things I still need to learn. Just two months ago I thought I finally had it, but today it feels like I'm starting from the very beginning...
Need advice
Yeah, takes awhile to understand the importance of "risk management". Even when you finally think you got it...once in awhile you'll have a trading day that the "management of risk" just sucks for that trading day and you'll feel like a newbie again.
Today, is kinda a rough patch. Trading has been a long and painful journey I've evolved; I learned the hard way the need to manage risk. It irks me how I'm not making money even after all these years and after all the things I still need to learn. Just two months ago I thought I finally had it, but today it feels like I'm starting from the very beginning...
Need advice
Well that's the beauty of trading: it does not lie, you can't bullshit.
Why not make an exhaustive list of all the mistakes you've made today?
Have you made any of these mistakes in the past?
If so, why were these mistakes not fully sorted, as you are repeating these?
Have you made any new type of mistake?
In this case, what is really behind these "new" mistakes?
What is nice about trading, you can see the effects of your mistakes immediately.
The other nice thing about trading is each time you pass an hurdle, and really sort
some trading issues, you normally improve a lot, and it is pleasing to check one
is going forward instead of backward. So keep working your mistakes. One by one.
Market acts different at different times, some times it's acting in a way that works for your method and you feel like a god and other times, well it's the opposite and you feel like this.
2 options....
Evolve method to work in all conditions, well better.
Learn to stay out of conditions that don't suite you.
Been where you are a 1000nd times, was profitable for a year, but been 2 years BE to slightly down, SUCKS!!
2 options....
Evolve method to work in all conditions, well better.
Learn to stay out of conditions that don't suite you.
Been where you are a 1000nd times, was profitable for a year, but been 2 years BE to slightly down, SUCKS!!
Today, is kinda a rough patch. Trading has been a long and painful journey I've evolved;
Just two months ago I thought I finally had it, but today it feels like I'm starting from the very beginning...
Need advice
Trading is part art, part science -- it's definitely a skill or craft.
We're all susceptible to the dangers out there everyday. Some are more exposed or prone to the dangers than others.
Keep your trading plan simple. Trade, focus and study just one thing
Sometimes you have to look in the mirror at yourself...sometimes you're the problem, psychologically or mentally or whatever.
Alter your lifestyle, change your room to make it more Feng Shui-friendly, etc etc. -- whatever will make you relax and open your mind and viewpoints.
L
lovethetrade
Need advice
Trade higher time-frames (minimum 30-mins).
Stay away from 5 and 1-min charts.
Clearly define what your strategy is and don't deviate from it.
Aim to make just one good trade per day until you get consistent.
Outline your objectives, profit per day/week etc.
Only trade when you're well rested and don't trade for more than a few hours at a time.
Don't be hard on yourself if you have a bad trading day.
Review your trades after each session and continually refine your strategy.
Last edited by a moderator:
Friday (2 times since 99) and today (8 times since 99) have been rough days (Tail Events). You simply can't always make money. I made good money during the holidays (Low Vol) and took bad habits (No SL) so I took a huge hit on Friday -> Life teaches you how to live it only if you live it long enough. Rule #1 is staying in the game. There's no magic. Some day we can feel like kings & other ones like suckers. You better have to protect your ass (When you're out of sync) and don't subdue your skills and luck (When fortune's with you). Know when to step back, manage the downside. Didn't trade today even though my finger was ready to click the mouse. One good trade per day is a nice advice.
If you made good money during the holidays chances are you're volatility averse. Therefore avoid day like these when pre market range is that phenomenal.
If you made good money during the holidays chances are you're volatility averse. Therefore avoid day like these when pre market range is that phenomenal.
Last edited:
Thank you all, for the advice. Today, might have been my worst trading day I completely lost control and the market had moved too quickly against me. I wasn't use to trading a new instrument (futures). A thought had crept into my head that I never thought would... I actually thought about quitting. I love the markets too much, if I'm being honest with myself I don't journal enough, don't study enough, and I make too many excuses to not study. I know what I'm good at is discipline, and being honest with myself; I'm just a lazy student of the markets. I'm gonna take a break, reflect and do only paper trading. I will only paper trade till I see consistency, yes paper trading is almost like the real thing for me; I know it's not a lot for most. I appreciate you all taking the time to answer my post ET has a good community.
Prove to yourself that you deserve to trade by being more responsible in your efforts. Good idea to paper trade until then. GOOD LUCK!!!!!!!!!!!!!!
I heard a famous trader say "your worst trade hasn't happened to you yet". When I hit a rut I switch from futures to the index ETFs, layering in on top of winners. It keeps you trading instead od dwelling on misery, gets you back in synch with the market, and rebuilds your capital in a lower risk mode. Never have and never would paper trade since it does not invoke any emotions - but what do I know? - do whatever you like.
Last edited: