How do you get over a big losing day?

Quote from Optionpro007:

Wishful thinking...in marriage you know who your enemy is. Either you or whoever is crazy enough to want to be with you.

When learning how to trade you don't know if your enemy is yourself; your conscious, subconscious or a hidden aspect of your subconscious you never knew existed. Then there are all other markets participants which are mostly all evil, the evil market makers, the time of the year, week, day, hour, the amount of money you have or don't have, your upbringing, your inherited psychological makeup, the circumstances around you, the government's interference with the markets, raining in Guatemala, the damn system you bought that is worthless 98% of the time.......etc...

:D
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Market forces conspiring against the new trader.

Dark-Evil-41694.jpg
 
Quote from flyingdutchmen:

1.beer
2.sandwich
3.porn
4.sleep
5.more beer
repeat in any order you wish untill day is over
great succes!
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lol.

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To the OP; like others have said. You should never risk more than 2 or 3% of your account per trade. And me personally, after 2 losing trades in a row, I put my risk at 1% untill I start making good trades again. The idea is to keep stops tight, and your targets as wide as reasonably possible.

I'll take a look at your charts, because ive never seen them and have no idea how you trade. Having a big losing day isnt a problem..shit happens to us all, but having these days frequently is a problem, and you should really look at your trading strategy to find the problem.

gl.

-kon
 
Quote from konviction:


To the OP; like others have said. You should never risk more than 2 or 3% of your account per trade. And me personally, after 2 losing trades in a row, I put my risk at 1% untill I start making good trades again. The idea is to keep stops tight, and your targets as wide as reasonably possible.
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This is a good advice in general. But this OP has a $1000 account. Risking 2% = $20. Trading Dow e-mini, it is not even enough for the spread most of the time (disregarding the commission).

There is no way someone can start with a $1000 account to make it if he goes by the 2-3% risk.
 
Quote from Optionpro007:

Wishful thinking...in marriage you know who your enemy is. Either you or whoever is crazy enough to want to be with you.

When learning how to trade you don't know if your enemy is yourself; your conscious, subconscious or a hidden aspect of your subconscious you never knew existed. Then there are all other markets participants which are mostly all evil, the evil market makers, the time of the year, week, day, hour, the amount of money you have or don't have, your upbringing, your inherited psychological makeup, the circumstances around you, the government's interference with the markets, raining in Guatemala, the damn system you bought that is worthless 98% of the time.......etc...

:D
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Try again. :) Ha

Market forces conspiring against the new trader.

thumbbig-41694.jpg
 
Quote from Bolimomo:

This is a good advice in general. But this OP has a $1000 account. Risking 2% = $20. Trading Dow e-mini, it is not even enough for the spread most of the time (disregarding the commission).

There is no way someone can start with a $1000 account to make it if he goes by the 2-3% risk.
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There is no market that I can think of that can be traded with only 1000 other than micro fx @ .01 a pip. And its only going to get tougher when/if he sinks below that level.

I noticed on one of this charts he posted here http://www.elitetrader.com/vb/attachment.php?s=&postid=2923761 that he had a good entry, but then when price pulled back he got scared and ran for the door, then went long right near the previous swing high resitance, and was able to make a few ticks.

Honestly I dont think he has any business trading 1min charts with 1000.00 especially the futures. Price will spike up/down on such a small time frame for no reason at all. He's asking to blow his account like this, but I don't think its going to matter what I or anyone else says.
 
Quote from konviction:


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He's asking to blow his account like this, but I don't think its going to matter what I or anyone else says.
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He had made it very clear in his posts.

= = = = =
I am posting my journal here... blah blah blah.

Look forward to some discussions.
= = = = =

Then

= = = = =
Mind your own business.
= = = = =
 
Quote from Bolimomo:

He had made it very clear in his posts.

= = = = =
I am posting my journal here... blah blah blah.

Look forward to some discussions.
= = = = =

Then

= = = = =
Mind your own business.
= = = = =
More...
Haven't seen any "Thanks everyone for your thoughtful posts trying to help me out. I realize a lot of you have spent years learning how to trade well. I'm new and just trying to learn all I can. Thanks for sharing what you've learned with me." What I hear is more, "Tell me how to make some easy money. I don't really have the time to learn. I'll just keep to my own strategies. Can you tell me how to make bigger profits each day? I really don't have time to learn. I just want to make lots of money from nothing. I don't really see the need to make any sacrifices. I'm looking for some easy money. Other people can work regular jobs or take the time to learn how to trade. I want the shortcuts. I want to make the money of a brain surgeon but don't really see the necessity of going through all that medical school stuff. I operated on someone this morning in the bathroom using an X-Acto knife and at least I didn't kill him. "

BTW, when you post in the P&L thread you should deduct your commissions. The images you show are from RCG which doesn't show commissions in that view. This is more honest as to the real profits or losses.
 
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