If Chewy Loses Money in July - He Will Quit Trading

Chewy,

We are all hoping that you make it this month. There is a piece of you in all of us.

I don't know if this will help,

But you are out of Synch....


Try taking just 15 days off first then start your month in the middle. Do not use a calendar month, but a fiscal month.

traders, I know..I know, if his system or method does not work, then why will this help? It's just a beginning in the "way to think".

There is more....but I would like to understand how he trades, first..

Michael B.

P.S. He needs a reason to pause, as this is a benchmark in his career. A Fresh Start... a plateau breakout...
 
Chewy,

To be in Synch..is to recognize the float..

Break out your Excel program and I will try and help, with what I have learned and am learning...

I wish you the very best and will try and do what I can. I consider you a friend, because you are a trader.

May I ask, "what are your expectations and what would YOU consider, to remain trading"?

Michael B.
 
Chewy,

In your mind you have drawn a line. This is an emergency! (but it does not need to be)

Lets understand where you are in your growth...and Thank you for this thread.

Also, my I ask your age? What is your Age? How long have you been trading?

Michael B.
 
are you trading a real account? why not live off that money or save it instead of losing it and papertrade until you figure out that edge?
 
Quote from ElectricSavant:

Try taking just 15 days off first then start your month in the middle. Do not use a calendar month, but a fiscal month.

He needs a reason to pause, as this is a benchmark in his career. A Fresh Start... a plateau breakout...
More...

Time off is always good advice. Such a deadline that you've given yourself is only useful if you are almost certain trading is not for you, because at the rate you're going, you just won't be able to turn things around that quickly -- virtually no one can. So take ES's advice and questions seriously, if you have any hope for succeeding you must be able to give yourself time above all else.
 
Chewy,

We have not heard from you for 24 hours. This is a good thing. I have often found that by letting 24 hours pass, assuming I am at peace, is best. In the morning when you wake check your perspective and jot it down if you must.

How are you feeling?

Michael B.

P.S. The positive or the negative can be handled with time. For example, I am negotiating some real estate business and I have received an acceptance to an offer that is quite favorable, but instead I react in my mind with "WAIT" 24 hours then formulate.

P.S.S. Traders, I am not talking about trade management, so don't jump to conclusions. Now in the case of a quick 10% in trading, well thats another story...time can be a cost and you must also ask yourself how long will I wait?, I already got 10%. When you have the big picture, you get perspective is the point. To know when to be fast and to discover the cycle and the float, can be discovered first from within then from the equity curve.
 
Quote from lescor:

Of your $5000 in losses, how much of it is from commissions and fees? What rate do you pay?
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The average net rate comes out to about .0056/share.

Gross loss is about 2,500 - about half of the net loss.
 
Quote from nbates:

Chewbaca,

Are those you cumulative P&L for 79 consecutive trading days and do you hold overnight positions?

Don't give up...remember if you had done the opposite on those trades it would be $5,000 positive, so IMO is just a matter of working your style and strategy.

If you're motivated you can succeed!
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Don't hold much overnights - there is a swing trade account, but really don't use it much - don't want to lose money on two fronts.

If all trades were reversed, gross performance would be +2,500 - but net it would be about 0. Commisions/fees is the biggest killer.
 
Quote from omniscient:

that can be an agitating truth, but it can also lead to a turning point. a friend was in a similar position. he said he was days away from going bust. he felt like he was the market's indicator - if he bought, it would sell off and when he sold, it would take off. he literally started doing exactly the opposite of what he had been doing. when he felt he should buy, he sold (and vice versa). things started turning around and he's still in it after 20+ years.

anyway, in the end Chewy, you know what you have to do, but i think most here pull for anyone earnestly trying to make it in this game.

take care and gtty -

omni

EDIT: steve points out something that i neglected to include - there was more to what my friend did than just reverse his trades. that was what he did to stop doing what he had been doing - what he did to 'stop the insanity.' had that been the extent of his efforts, he would not have lasted this long. he had to find his own edge and master it. thx steve for your comments.
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Yeah last week Chewy almost reached the Uncle Point - the point where all confidence and faith is lost and trading actvity comes to a cessation. On the positve side though, Chewy finally realized exactly how much he can afford to loss and still break even...will elaborate later.
 
Stock List:

XOM - Oil
AAPL - Tech
NEM - Gold
LEN - Homebuilders
MWD - Financials
QQQQ - Tech Index (for swing trades)

Will respond to other replies on Tuesday, gonna head out to enjoy the weekend.
 
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