If Chewy Loses Money in July - He Will Quit Trading
- Thread starter chewbacca
- Start date
Hey:
I don't want to be too harsh, but this extended "goodbye" sort of reminds me of that movie "Spinal Tap" except that instead of being a really sucky musician, you're a really bad trader who for some unknown reason, doesn't want to stop until you are completly broke and living in a dumpster behind your local McDonalds.
Also I have to ask why you don't take the steps necessary to get more (better) training?
As I said, I don't want to be cruel, I just want to understand why you are continuing down this road? Look if you happen to be one of those folks who like to be tied up and whipped by ladies wearing leather masks, well that would sort of explain things. Otherwise, I don't get it.
I don't want to be too harsh, but this extended "goodbye" sort of reminds me of that movie "Spinal Tap" except that instead of being a really sucky musician, you're a really bad trader who for some unknown reason, doesn't want to stop until you are completly broke and living in a dumpster behind your local McDonalds.
Also I have to ask why you don't take the steps necessary to get more (better) training?
As I said, I don't want to be cruel, I just want to understand why you are continuing down this road? Look if you happen to be one of those folks who like to be tied up and whipped by ladies wearing leather masks, well that would sort of explain things. Otherwise, I don't get it.
With habits like these, you're just wasting time before you blow out.
Churnfest
Gross 4
Volume 10600
Win% 45
Ave Win 5
Ave Loss -4
Net -51.8
AAPL -5
EBAY 10
KLAC 5
NEM 3
X -12
XOM 3
WTF, no volitility in the market. Basically just churned today. I'm about -9 gross for the month. I think this month will be gross positive, net negative. The only positive thing about today
is that it's the smallest loss I've had in a very long time, which is good because I'm having bigger and more frequent winners but my daily losses remain large.
Gross 4
Volume 10600
Win% 45
Ave Win 5
Ave Loss -4
Net -51.8
AAPL -5
EBAY 10
KLAC 5
NEM 3
X -12
XOM 3
WTF, no volitility in the market. Basically just churned today. I'm about -9 gross for the month. I think this month will be gross positive, net negative. The only positive thing about today
is that it's the smallest loss I've had in a very long time, which is good because I'm having bigger and more frequent winners but my daily losses remain large.
19-Jul
Gross 32
Volume 8900
Win% 44
Ave Win 10
Ave Loss -7
Net -12
Traded like ten stocks today, don't want to list them all. Cut my losses all day, did have a few big ones though. But the thing thatâs holding me back is not being more aggressive and patient with my wins and I'm fading way too many breakouts. I've pretty much abandoning my stock list I'm open to trading anything that's moving. July is now gross positive, I haven't had
two straight gross losing days since the first two days of the month. Commsions keep reducing my wins and enlarging my losses, which means my wins have to be much larger I I have to be more aggressive with them.
Gross 32
Volume 8900
Win% 44
Ave Win 10
Ave Loss -7
Net -12
Traded like ten stocks today, don't want to list them all. Cut my losses all day, did have a few big ones though. But the thing thatâs holding me back is not being more aggressive and patient with my wins and I'm fading way too many breakouts. I've pretty much abandoning my stock list I'm open to trading anything that's moving. July is now gross positive, I haven't had
two straight gross losing days since the first two days of the month. Commsions keep reducing my wins and enlarging my losses, which means my wins have to be much larger I I have to be more aggressive with them.
20-Jul
Gross 175
Volume 7200
Win% 47
Ave Win 18
Ave Loss -7
Net 134
Up over 300 dollars from the bottem today. Came in and just overtraded lost on every stock. Then built a huge long position in AAPL, held a huge loss before it turned around. Could've held and added for a bigger win but I'm just glad to avoid a loss today. Had my biggest win on any trade today - which is important cause you need huge wins to make it as the trader as the costs of trading are enourmous (losses, commisions, opportunity costs, etc.)
For tommorow I just want to sit on my ass and do nothing but hunt down stocks that are making clean moves, then get in cut losses and be very aggressive if itâs a winner (my friend made 10k today doing this).
Gross 175
Volume 7200
Win% 47
Ave Win 18
Ave Loss -7
Net 134
Up over 300 dollars from the bottem today. Came in and just overtraded lost on every stock. Then built a huge long position in AAPL, held a huge loss before it turned around. Could've held and added for a bigger win but I'm just glad to avoid a loss today. Had my biggest win on any trade today - which is important cause you need huge wins to make it as the trader as the costs of trading are enourmous (losses, commisions, opportunity costs, etc.)
For tommorow I just want to sit on my ass and do nothing but hunt down stocks that are making clean moves, then get in cut losses and be very aggressive if itâs a winner (my friend made 10k today doing this).
Yeah, I know its stupid - this is a strategy that more often burns you more then it makes you money. But equally stupid is making a trade solely based on emotion (fear), selling at the lows, and just watching as it bottems and goes parabolic up. The right way to have played it would be to just take on 100 shares, toss it for a real small loss. And keeping doing this till it bottems, then you have a winner and start adding and getting aggressive at each new breakout level.
No actually most of the time with this "strategy" you make money or lose less than following a stop loss. It's just that one or two times that will end your career
Completely the opposite, the emotional thing to do is get vengeful and keep holding by refusing to take the loss.
First of all, you do not even know when it bottom until after the fact. Second of all, when it does bottom, you will have to be real lucky to get any real size around that price. Third of all, what if you keep buying up as it rips and then it reverses right back down to the lows? You gonna keep holding?
Look for your own good, re-evaluate your trading. You really are just wasting your time before you blow out. I can tell that you do not have a good concept of taking & cutting losses and risk/reward. If you hold down a loss $200 and then it comes back and you make $100, well that's a losing strategy. Grasp that concept before you worry about being shaken out. I get shaken out of correct positions almost every single trading day because I force risk control. Even though I know that it's mainly the specialist pushing the stop losses & risk tolerance of day traders, I still choose to get out and cut my loss cause you NEVER know.
omniscient
Guest
it comes down to this:
when that reality sets in, really sinks in and is accepted, things change.
take care -
omni
when that reality sets in, really sinks in and is accepted, things change.
take care -
omni