I Can't Figure it Out!!!!!!!

[Samson77]

Flashboy,

No matter what anyone in here tells you this is what every trader faces day in day out.

I always say that we are ALL just ONE trade away from being bankrupt.

Many men much smarter then you and I have made Millions only to give it all back EVEN the greatest traders of all time.

Livermore/Dennis/Schwartz

Answers to this part of the business will not be found easily here in ET trust me.

A lot of the traders in here think they are superstars because they've been around for 2-7 years but the ones that i pay most attention to are the ones with over 20 years experience and still trading for a living.

That's about 5 people that qualify in ET.

Look for them and ask their opinions.

 

[Flashboy]

Quote from karsat:

When you figure out a strategy or strategies which work in trending/non-trending markets, then you can take consistent profits day in and day out.

You have to have the psychological makeup to follow it though and if not doesn't matter how good the system is you will lose money..

 

[DHOHHI]

Quote from Flashboy:

For the life of me I just can't seem to get this thing straight and I"m so fed up with it I can't explain it..

I don't know what is wrong with me but there's something seriously wrong in my head..

I should quit but can't seem to stop now.. I always feel like I"m so close but just can't keep any consistency..

Its always the same old story.. start off okay.. have a week or two of profitability and then give it all back and some and have to start over again..

Someone please tell me that they struggled for years and finally turned profitable and that it ended up being more than worth the effort.. I"m all out of patience

It sounds like you have a lot of built up emotions & frustrations regarding the roller coaster ride you've apparently been on. I'd guess that after you hit a losing streak you have negative emotions that may be adversely influencing your trading. Perhaps you're forcing trades and trying to make back the lost money too quickly. What do you do DIFFERENTLY when you have winning weeks (days) versus the losing weeks? Have you sat down and reviewed your trades, both the profitable weeks and the losing weeks? What has been the market behavior in those weeks? Do you make more money on the long side or short side? When I started full time 10 years ago I kept a journal of my trades so that I could do some analysis when things went bad.

I don't think one can trade well when they have distractions (i.e. frustration) floating around in their mind. You can't be focused 100% with such distractions.

When I hit losing streaks I continue to trade but reduce my size until I'm feeling the confidence return.

 

[newtoet]

Quote from Flashboy:

You have to have the psychological makeup to follow it though and if not doesn't matter how good the system is you will lose money..

STOP!

You just answered your question as to why you lose right here.

Read it again. Then fix it.

You can do it - good luck.

 

[Flashboy]

Quote from DHOHHI:

It sounds like you have a lot of built up emotions & frustrations regarding the roller coaster ride you've apparently been on. I'd guess that after you hit a losing streak you have negative emotions that may be adversely influencing your trading. Perhaps you're forcing trades and trying to make back the lost money too quickly. What do you do DIFFERENTLY when you have winning weeks (days) versus the losing weeks? Have you sat down and reviewed your trades, both the profitable weeks and the losing weeks? What has been the market behavior in those weeks? Do you make more money on the long side or short side? When I started full time 10 years ago I kept a journal of my trades so that I could do some analysis when things went bad.

I don't think one can trade well when they have distractions (i.e. frustration) floating around in their mind. You can't be focused 100% with such distractions.

When I hit losing streaks I continue to trade but reduce my size until I'm feeling the confidence return.

I do have a lot of emotions floating around right now.. I live near New Orleans and we lost everything in the hurricane.. Had water into the attic for 5 days and everything we owned is ruined.. Had to move in with my parents temporarily cause waiting on insurance money and the housing market around here is in very high demand..

But I've been through this same scenario of giving it all back at least 20 times over the last 3 years so I can't blame it on my current situation.. although I"m sure it doesn't help..

 

[nononsense]

Quote from Flashboy:

... I always feel like I'm so close...

That's where you are wrong.
Winning has NOTHING to do with what you are feeling. It is all about KNOWING.
It might take you another 5 to 10 years.
(No kidding).

 

[BSAM]

Flash.....

I believe you posted this same type thread about a year ago. This may sound hard, but it just may be time for you to move on with your life.

 

[DHOHHI]

Quote from Flashboy:

But I've been through this same scenario of giving it all back at least 20 times over the last 3 years so I can't blame it on my current situation.. although I"m sure it doesn't help..

Have you analyzed what's happening in the 20 times you've given it all back? We all make mistakes in trading ... but learning from them is what gets you to the next level.

 

[Flashboy]

Quote from BSAM:

Flash.....

I believe you posted this same type thread about a year ago. This may sound hard, but it just may be time for you to move on with your life.

Actually.. I've probably posted this same scenario about 5 times..

 

[masao]

I feel ya man we all encounter frustration and a guy could make a mint and still feel it when the environment changes. Context is always the problem whether intraday or year to year. Today is different from yesterday and yesterday was different from all the rest, and tomorrow and the next. Method doesn't mean mechanical and the words "rules or code" or whatever tend to imply that the market has finite structure but if it did there would be no market. So discretionary trading anyway must be about perception within soft guidelines and the discipline to trade in context. Not the other way around.