I wanna to know if anyone used to have similar problems as i have right now, but have become profitable.
I consider myself a developing trader who can't make money off the market but don't give it away either.
During the past 2 months, I have finally pulled myself from losing money to not losing money. I feel like there is something mentally that i have to overcome for me to start make some money.
My january p/l is +80 and -60 this month so im pretty much flat considering im trading stocks like HPQ, WMT, DIS with a daily volume of around 15k shares.
I have a great tendency to go into "streak." It could be either winning streak or losing streak. I am extremly discipline when it comes to taking losses, but I am not really good at taking profits. I almost never have one single trade that kills me or hurts me a lot but its always a series of stop losses or extremely low winning % that makes me red.(some day as low as sub 10%)
My daily p/l is like 60, 50, 18, 90, 35, -106, -106, -35. It has a pattern like that and in the end, I'm giving everything away!
The only way i could think of to fix this is to tighten my max loss of the day to as low as possible. Because if i see a -30 or -40, it will turn into a bigger hole real quick. Thats the only way i see that is doable for fixing this.
Some ppl have suggested me to take profits quicker. However, most of my big winners r from my ability to ride those profits. I really wanna fix this tho.
If anyone has gone thru a similar phase, please give me some guide and things I can work on. Thanks!
I consider myself a developing trader who can't make money off the market but don't give it away either.
During the past 2 months, I have finally pulled myself from losing money to not losing money. I feel like there is something mentally that i have to overcome for me to start make some money.
My january p/l is +80 and -60 this month so im pretty much flat considering im trading stocks like HPQ, WMT, DIS with a daily volume of around 15k shares.
I have a great tendency to go into "streak." It could be either winning streak or losing streak. I am extremly discipline when it comes to taking losses, but I am not really good at taking profits. I almost never have one single trade that kills me or hurts me a lot but its always a series of stop losses or extremely low winning % that makes me red.(some day as low as sub 10%)
My daily p/l is like 60, 50, 18, 90, 35, -106, -106, -35. It has a pattern like that and in the end, I'm giving everything away!
The only way i could think of to fix this is to tighten my max loss of the day to as low as possible. Because if i see a -30 or -40, it will turn into a bigger hole real quick. Thats the only way i see that is doable for fixing this.
Some ppl have suggested me to take profits quicker. However, most of my big winners r from my ability to ride those profits. I really wanna fix this tho.
If anyone has gone thru a similar phase, please give me some guide and things I can work on. Thanks!
