I hate it when i dont make money on days like this...

Quote from dsq:

I made a measly 110$ today...I was recently burned large by the recent choppiness so have been trigger shy and trading just 200 shares or so.I did about 1 long and 3 shorts today...I didnt want to hold any position for long time and as a result missed out big time on each position.Also in the last hour MO was whipping up and down more than a point in as little as 2 minutes-great short/long opportunity.But i couldnt pull the trigger-chickenchit...I earlier had bot 400 shares of VZ avg 35.66 and bailed at 36-it closed at 37.80!!!!

Im better just trading less chaotic environments even tho this is where you make a mint :(
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I have learned that just because there is more vol and bigger moves, it does not translate into more $$$$. Guys in my shop DO NOT do as well in this enviroment.

Your entries are key and can often be noisy. The true market is 3 to 6 times wider then what you are used to.

Trade smaller, but don't get trivial with your entries just cuz of the smaller size.

Good Trading
 
that usually due to being gun shy and not believing in the rally..
happens to me all the time but i actually did rather well yesterday and today. i look for something moving up on strong news that gapped up pre-mkt and wait patiently,usually about 5 mor 10 minutes for a bit of a pull back because of the market and jump in.but yes,its a bad feeling and happens to more traders than you think. we are all programmed not to chase stocks. and another thing,when we see the low on a stock was 50 for the day and its now at 52,our mind tells us we missed it when in fact there could be 2 or 3 more points left in it.
 
Quote from saxon22:
Quote from interdigital:

Made a few trades this morning and had a 3k profit. Kept trading and went negative. Did more trading to try to get back my losses. Increased the size of my trades to try to have one winning trade make up for 2 losers. Probably violated every rule there is. Finished the day down $15k.
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You are not the only one who violated all the rules. I was up $1500 day b4 yesterday and finished down $1400.
Yesterday I was up $1200 and finished down $1500. All this transpired within a few minutes each day, with just one or two bad decisions.
Rule number one: When you have a fast, tidy profit, turn off the computer and take the rest of the day off.
 
i made money yesterday, but it was one of the most stressful days for me.

I normally build up my daily profit gradually through multiple trades and have very small % of losses.

But in this volatile lunacy, I was in red multiple times before finally turning green for the day, just barely making $1.1k.

This market can be great, but it also leaves less room for any complacency or mistake.

Stay safe, folks.
 
Quote from sunggong:

i made money yesterday, but it was one of the most stressful days for me.
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although i try not to it was also quite stressful for me...i made 1k and figure it took 6 months off my life...:D


just rest assured there is a high probability that it will remain this way for a while...so plan accordingly...peace....
 
Quote from ElCubano:

although i try not to it was also quite stressful for me...i made 1k and figure it took 6 months off my life...:D


just rest assured there is a high probability that it will remain this way for a while...so plan accordingly...peace....
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my stress level has gone up considerably.

i need more breaks between trades.

i still don't have the balls to go for home runs though.

very tough to stay disciplined....
 
In the same boat - gave up $5 on the TWM yesterday because of poor fill. Missed about $1.50 and then because I was on the phone with the broker investigating the trade missed another $3.50. The only schmuck there was me - twice - once for trading with that shop and the other for 'knowing' that they were going to screw me and therefore screwing myself in a fast market.

I got out, following my "don't trade a screwup" rule. Had I held on, it would have come back $4, but not my full $5 (and I would have missed the trade & blown a more substantial amount of my profit). I was really kicking myself about that until I woke up from a nap & noticed it was trading 85. Didn't feel that bad then. That rule still holds.

Rule #1 - Don't compound errors

Rule #2 - Anytime the market gives you an unexpected windfall that you did not anticipate in your trade, take it and run. You did not analyze the trade correctly.
 
I hear ya. When the year started, I made the decision that I'd rather have consistent and fairly predictable profits than what I had last year which usually swings deep from + to - . I haven't had $2000 days but I haven't had big losses either. So stress level has been kept to a minimum despite the volatility.

It's easy to get reckless knowing some people are putting up $10,000+ but that will only get me in trouble - the grass is always greener on the other side.

Quote from sunggong:

my stress level has gone up considerably.

i need more breaks between trades.

i still don't have the balls to go for home runs though.

very tough to stay disciplined....
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Quote from lassic:

A little fable

Once upon a time a small cautious trader made only a small amount on April 4, 2000 when the S&P had a daily range of 100 points. All of the other traders ridiculed him for making a small pittance.
"If you can't make a bunch of money with this volatility, then you’re not a trader" they all laughed.
As the years past, the boastful traders disappeared and the small cautious trader still trades.





ps: the small trader isn't me, I remember someone posting that day making a small sum because he kept with his plan.
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Good post.
 
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