I'm done trading. I FAILED
- Thread starter pumpanddumper
- Start date
Took some massive hits in March and April. Seriously thought about quitting. Took a 3 week break. Read my trade logs and pointed the finger squarely at myself. Flushed some pre-held beliefs, stopped timing tops and bottom and re-focused on my working strategies.
Scaled back my position sizes to half or less. This was the key. Profits were smaller but LOSSES WERE SIGNIFICANTLY SMALLER!!!
Since then my stress is down, my losses are controlled and my R/R is back to 3:1.
Looking back, the most painful part was being patient. Second hardest was to rigidly stick to disciplined trading. Third was to stop posting my P&L or letting that number guide my trades.
Increasing position size slowly over time.
For what it's worth.....
Scaled back my position sizes to half or less. This was the key. Profits were smaller but LOSSES WERE SIGNIFICANTLY SMALLER!!!
Since then my stress is down, my losses are controlled and my R/R is back to 3:1.
Looking back, the most painful part was being patient. Second hardest was to rigidly stick to disciplined trading. Third was to stop posting my P&L or letting that number guide my trades.
Increasing position size slowly over time.
For what it's worth.....
These comments pretty much sum-up why you have, as you say, "failed at trading".Quote from pumpanddumper:
If I do make a million in the future in the market, it will be on an inside tip that comes every few years. You know, the sure thing. That call or put option perhaps before that deal goes down.
Trading/gambling is just what it is mostly.
This thread reeks, and it's pretty amazing that you've been able to accomplish the things that you have.
I was going to leave yet another "oh, you can do it, blah, blah, blah, you have plenty of time, blah, blah, blah", etc. post, but your comments pretty much describe the type of mindset which is designed to fail at trading, to tell you the truth.
Enjoy your job in the corporate rat race making a pittance of what you could as a succesful trader if you only had a modicum of strategic thinking or a shred of self-discipline.
Jimmy Jam
TRV I agree. i'am cautious going forward.. however i do believe will will touch 12500 before we hit 13500. My views are longer term out - short term is a gamble day to day all depends what side of the dice you are on.. sometimes im short sometimes im long and other times iam short and long at the same time... retail investors need $$ to play a game like that
this is very stressful i must say..
this is very stressful i must say..Quote from FAST.AM:
TRV I agree. i'am cautious going forward.. however i do believe will will touch 12500 before we hit 13500. My views are longer term out - short term is a gamble day to day all depends what side of the dice you are on.. sometimes im short sometimes im long and other times iam short and long at the same time... retail investors need $$ to play a game like that
I trade long or short and always intra-day (ok, some swings and an occasional position)......In scaling back for example.....100 shares of aapl vs 500 shares as an initial position. I don't think daily is a gamble at all. My losses came from "chasing" and calling tops and bottoms. Took away the "edge" and ignored all discipline. A couple of un-earned "lucky profits" will do that to ya.
I agree with JJ the more I read this thread.
OP should Stop trading......all OP comments appear as a "tip chasing gambler". Sorry, but no sympathy here. "Job" may be for you.
Have you thought about a reverse martingale strat? You still have plenty of ammo left. Or you can Give Timmay his 300 bucks, maybe he'll show you the promised land with his DVD. If not whats another few hundred bucks after the year youve had. Plus making a sale means Sykes won't have to work the corner of Fifth And Wall with his squeegee and windex bottle this week.
What happened to the $50k account? Or are you already up 50% since your first post?
hey Peanuts, (that's you pumpanddumper)
I think you should give this form around of applause.
AS you can see here, we have some very successful traders,
with very good help for you to get back in. (Don't forget todays
form). READ IT OVER A FEW TIME'S.
Let me ask you this, can you show us just two examples of
a trade you made. One win and one losing trade, and why
you made it.
Peanuts, do you remember way back when hour brother's
and sister' I'm talking the cavemen/and cavechicks, were
trying to catch there food for the day.
Some would run all day, some would fall down knowing they
must get up and continue. Some ran off cliff's braking who know's
what. And this was just for food. Look how far we came.
YOU MOST CERTAINLY CAN DO IT TOO. It's simple if you do it the
right why. And remember it must be YOUR WAY, and not the program's way. You ever here of spin's, like in, hey man Just Follow the program. You mention a few yourself.
the system we live-in is always program us. Or trying to.
radio,TV, PAPER'S, 9-5 JOBS, INTERNET, etc.
Everything today is really a bunch of SHIT.
Bush/vice P. started all the stealing, lie'ing,and robbery of the
american people. He gave all the company's and corp. the green
light. STEAL ALL YOU CAN GET, FROM THE PEOPLE.
I like to know why the government/CIA didn't knock this thief
off yet, like they did Kennedy who was a real American President
for the country and the people.
FAST.AM was mentioning some stuff like this.
pumpanddumper, you mention alot of stuff, but it's all from
the tv and some stuff you read about.
It's not about all this garbage. (that's all program shit).
Peanuts, It's all in the charts.
It's You and the charts, at home, 24/7, your program, and the
rest is how much you want to make!
I love this game with passion. You get it!!!
You will too some day. STICK WITH IT.
trade well
perr
:eek:
I think you should give this form around of applause.
AS you can see here, we have some very successful traders,
with very good help for you to get back in. (Don't forget todays
form). READ IT OVER A FEW TIME'S.
Let me ask you this, can you show us just two examples of
a trade you made. One win and one losing trade, and why
you made it.
Peanuts, do you remember way back when hour brother's
and sister' I'm talking the cavemen/and cavechicks, were
trying to catch there food for the day.
Some would run all day, some would fall down knowing they
must get up and continue. Some ran off cliff's braking who know's
what. And this was just for food. Look how far we came.
YOU MOST CERTAINLY CAN DO IT TOO. It's simple if you do it the
right why. And remember it must be YOUR WAY, and not the program's way. You ever here of spin's, like in, hey man Just Follow the program. You mention a few yourself.
the system we live-in is always program us. Or trying to.
radio,TV, PAPER'S, 9-5 JOBS, INTERNET, etc.
Everything today is really a bunch of SHIT.
Bush/vice P. started all the stealing, lie'ing,and robbery of the
american people. He gave all the company's and corp. the green
light. STEAL ALL YOU CAN GET, FROM THE PEOPLE.
I like to know why the government/CIA didn't knock this thief
off yet, like they did Kennedy who was a real American President
for the country and the people.
FAST.AM was mentioning some stuff like this.
pumpanddumper, you mention alot of stuff, but it's all from
the tv and some stuff you read about.
It's not about all this garbage. (that's all program shit).
Peanuts, It's all in the charts.
It's You and the charts, at home, 24/7, your program, and the
rest is how much you want to make!
I love this game with passion. You get it!!!
You will too some day. STICK WITH IT.
trade well
perr
:eek:
TRV yes 100 shares of aapl VS 500. your odds of catching a run are much better however again depending on the size of your position it can be a gamble. I.E market opened down 180 POINTS the other day I was sitting on 3000 shares and 10 contracts of CSCO if you hold a sizable position overnight this can be tricky. Do you hold sizable positions?? I still do believe in this environment this can turn into a gamble intra day..However all you need in this market is staying power if you dont over leverage you can play the game I think we can ALL agree that we will break 14,300 once again. and at this rate of change this could happen by year end.