losing streaks

eusdaiki · Sep 28, 2005

How do you guys handle a bad streak?

Im having one myself right now, it's been a though week... Is not my first one, it probably wont be my last...
I've been trying to forget about trading on my freetime, run, watch tv [no news], get a good sleep before the next day, reducing the stakes...

What works for you guys?

Do slumps come less often once you get more experience?

coolweb · Sep 28, 2005

Hello,
What you should do is:

1) Examine the streaks,
Is there any way I can avoid this in the future

2) If not , decrease size
since its a probability issue then.

Not much to it

fstrader · Sep 28, 2005

I think it is very important that you get rid of any fear a losing streak might cause. Maybe take some time off, just studying the markets and maybe doing hypothetical trades to test yourself.

murray t turtle · Sep 29, 2005

Quote from eusdaiki:

How do you guys handle a bad streak?

Im having one myself right now, it's been a though week... Is not my first one, it probably wont be my last...
I've been trying to forget about trading on my freetime, run, watch tv [no news], get a good sleep before the next day, reducing the stakes...

What works for you guys?

Do slumps come less often once you get more experience?

===============
e-us;
a]Check your trading notes;
usually one does notably better on long or shorts,
usually one does better in one sectors or sector.

z]Trade smaller

swcom · Sep 29, 2005

Quote from eusdaiki:

How do you guys handle a bad streak?

Im having one myself right now, it's been a though week... Is not my first one, it probably wont be my last...

At least you realize this. How about this - tell us what YOU are doing to combat this so-called losing streak.

Personally, I read Alan Farley's "The Master Swing Trader". I will likely catch flak sooner or later because I am such an ardent supporter of this book. He is the best personal trainer in the world for traders. Every page makes references to simple strategies that can turn around your whole mojo, plus he delves deeply into the strategies that market makers and others are using against you.

I posted this in another column, but here it is again: I would have literally drained my trading account years ago if not for this book.

Maybe try trading larger, low-volatility issues, like the top 2/3 of the NYSE, and the top 1/3 of the Nasd. Not that these are not volatile, but they are safer than TIE or OMNI.

BTW, what platform, trading style, tech. analysis, entry points are you using, if you don't mind?

Cheese · Sep 29, 2005

Quote from eusdaiki:
How do you .. handle a bad streak?
.. not my first one, it probably wont be my last...

Stop trading.
Pursue a different living where you don't lose.

eusdaiki · Sep 29, 2005

I broke the losing streak today, with a +$300 day, not the best, but a step in the right direction.

I usually trade 150 or more times per day. Entering and exiting at the same price to profit from en liquidity rebates. I don't usually use any indicators or charts, I basically just use a time and sales and level two.
I look at six-eight different stocks at a time, usually stuff with very little movement. Where I can profit out of rebates. Ocassionally i would look into something more volatile like nvda with a small amount of shares in big moves to catch 20-30 cents, but I dont depend on it.

What I did was a change in mentallity, I try to focus n enjoying the at of trading never mind wether a trade was good or bad, not focusing on how much money Ill have by the end of the month but on having a good time.

Remiraz · Sep 30, 2005

Quote from eusdaiki:

I broke the losing streak today, with a +$300 day, not the best, but a step in the right direction.

I usually trade 150 or more times per day. Entering and exiting at the same price to profit from en liquidity rebates. I don't usually use any indicators or charts, I basically just use a time and sales and level two.

What did you mean by losing streak? I'm guessing you didn't lose 150 trades in a row? :eek:

Or you just ended day in the red?

joeper · Sep 30, 2005

I say take a break from trading for a week or two. During that time ask yourself if you would be happier as a trader or doing something else. Cuz it seems to me your losing streak is actually on purpose. Subconsiously you are telling yourself to quit as a trader and to find another career. I say check yourself first and make double sure you still want to be a trader.

and oh ya one more thing. If you want to have a good time go to a peeler bar and see some t*tties but don't trade to have a good time that's just foolishness boy. Trading is boring and you shouldn't be feeling any emotions whatsoever.

I agree with you, don't count your chips before the dealing is done.

Joeper out.

eusdaiki · Sep 30, 2005

I usually call it a lossing streak when I start getting most days in the red, and even on good days I stay under 100 so I m lossing ground overall.

Since las thursday I lost 188, 600, 20, 300, and I gained 30 one day.
I usually consider the streak to be over once I start getting several days in a row above $200-300, as I usually get 4 out of 5 days with such a record, and about one bad day per week. As I start feeling stronger I start increasing the size of trading blocks, so that by the peak of a winning streak, Im usually getting higher profits per day, and Im breaking my all time highs for one day. When Im on a bad streak I do the opposite, I reduce the odds, so that I dont get hurt so badly.