Losing my edge

E

Ernsuksathaporn

Hi guys, I know there are tons of experienced trading in here. I started day trading futures(Micro E-mini) this March. Although I had experience in trading other financial instruments for a year and a half now(stocks, forex, options). I was experimenting with different time frames and different instruments. I came to realize that I really like trading the shorter time frames like the 1min and 2min charts. I currently use the market profile and some order flow to give me confluence on trades.
I started my first month trading live with a 25% profit, probably beginner's luck. Now I have been in a losing streak for the past 2 weeks, wiping all the gains and losing even more.
I decreased my trading size and tried to make my losses as small as possible. I still can't find a way to come back and win again. I feel like I lost my edge and nothing seems to work...
What should I do? If any experienced trader can shed some wisdom, thank you.
 
Ernsuksathaporn said:
Hi guys, I know there are tons of experienced trading in here. I started day trading futures(Micro E-mini) this March. Although I had experience in trading other financial instruments for a year and a half now(stocks, forex, options). I was experimenting with different time frames and different instruments. I came to realize that I really like trading the shorter time frames like the 1min and 2min charts. I currently use the market profile and some order flow to give me confluence on trades.
I started my first month trading live with a 25% profit, probably beginner's luck. Now I have been in a losing streak for the past 2 weeks, wiping all the gains and losing even more.
I decreased my trading size and tried to make my losses as small as possible. I still can't find a way to come back and win again. I feel like I lost my edge and nothing seems to work...
What should I do? If any experienced trader can shed some wisdom, thank you.
More...
Close your positions, take a week off, and reflect on your trading.
 
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Agree, take some time off and during the trading day, do not look at the markets. That will tempt you to start trading. I also advocate trading one instrument rather than a few, it makes you less focused in my opinion.
 
NY_HOOD said:
Agree, take some time off and during the trading day, do not look at the markets. That will tempt you to start trading. I also advocate trading one instrument rather than a few, it makes you less focused in my opinion.
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I agree with you, I am currently focusing on just futures.
 
Ernsuksathaporn said:
Hi guys, I know there are tons of experienced trading in here. I started day trading futures(Micro E-mini) this March. Although I had experience in trading other financial instruments for a year and a half now(stocks, forex, options). I was experimenting with different time frames and different instruments. I came to realize that I really like trading the shorter time frames like the 1min and 2min charts. I currently use the market profile and some order flow to give me confluence on trades.
I started my first month trading live with a 25% profit, probably beginner's luck. Now I have been in a losing streak for the past 2 weeks, wiping all the gains and losing even more.
I decreased my trading size and tried to make my losses as small as possible. I still can't find a way to come back and win again. I feel like I lost my edge and nothing seems to work...
What should I do? If any experienced trader can shed some wisdom, thank you.
More...

ES is hyper competitive. Will take you years to become good at trading it, if ever.

Yes, you experienced beginners luck, in this business when new traders start they are bold fearless and undamaged by any previous losses. They can take big risks, let losses run until they come back, and so make money over the short term..

Once a trader takes a few big losses (the loss didnt comeback but got bigger) and goes into the hole. They will never get that mindset back again. Not unless they are compulsive gamblers. Its like losing your trading virginity and innocence.
 
You probably, did not have an edge to begin with. Too many traders over estimate their abilities and trade without fear nor risk management. If you do not practice risk management and too many traders ignore that simple fact, you do not have a prayer and 99.9% chance of blowing out your account and losing your monies.
 
Handle123 said:
Am thinking you didn't have a edge in first place, but you started when market was selling off and past 2 weeks Indexes been rising.
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Handle123 said:
Am thinking you didn't have a edge in first place, but you started when market was selling off and past 2 weeks Indexes been rising.
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Unfortunately you might be right, I probably need to take some time off to reflect. How I feel currently is; I can put on winning trades but then they get eaten up by multiple losses or it would go well in my direction and stop be out for breakeven. Not quite sure what I need to change in my rules to make this work in terms of target and stop loss setting.
 
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