MACD/Trendline Swing Trader

Death by a thousand 2% cuts... (at least at that rate, zero can never be reached!)

Stop out Losses..
SVNT
AGU
CF
CLR
TRA
GW..

surely I am missing some..

Have to take the good with the bad.. Long Breakout trading dangerous these days.. Hopefully I survive long enough for better times and have learned what the words "cash" and "sit on your hands" mean. Markets always teaching the over confident.

New Longs...
TSL, DRYS, ENER, SOLF.
 
It is said you don't know what is planned out for you in the future. Just 3 weeks ago I would have told you I knew the future, which is another definition of the Hubris so much success can bring. Got interviewed by Covestor, "Best thread in years on ET", $580 Mil future projection, Picture on Cover of Fortune (you know that was coming) next.. LOL!.... All adds up to forgetting the Wall Street script is changed in secret, and often, but there if you care to look.

Whenever you hear of anyone that made a fortune and lost it faster in the Markets, here's why... The markets changed (even if just a little) enough to ruin trades that used to work and the Trader never adapted but instead pressed harder in the same direction. After all, he is a GREAT trader, right? As this goes on the trader just doesn't see good trades anymore as there is confusion in the air.

This is my diagnosis of my year so far. I can hear the Cockpit alarm going off "Pull up!"... "Pull up!"... in a crucial stage of this flight. Either the dive is stopped or.. you know the rest. The "rest" won't happen here because at a certain point (50K) I will stop completely.

Until there are 2 profitable weeks in a row I will do the following:

Limit per trade capital to $5,000.
Limit number of positions to 4.
If next week is a losing week I will stop trading for a week.

Current Positions:
Short RYL.. 200 shares 18% loss .. Meaningless small position.. Wife wants to keep it but will cover it next down swing.. I need the capital!.. LOL!

Long RCII.. 250 sh
Long TBSI.. 150 sh

What is very clear is anyone can trade well in a given environment, the question is can he/she adapt to a new environment?? Stay tuned.

View charts at your own risk.
 

Attachments

Don't feel discouraged and remember it's alright to sit on cash. I work in accounting and I view over 100 capital and financial statements a month. Let me tell you the professionals who run limited partnerships and venture capitals are giving the same returns as you are.
 
Hi Retire,
I see not good development in your capital.
The typical advise is: go on, persist, you can make it and so on.
I don't think this helps.
:confused:
 
Your solution of cutting back on trading and reduce the exposure is a good one. I read a lot of trading books and that's usually what's recommended during a string of drawdowns.

You will be able to re-sync with the market and do well again!
 
No doubt a run like this can crush your psyche.... if you let it.

After sometime I've finally learned the trick to surviving in this business is learning to take a punch and rolling out of it.
& not just a punch, but the shot to your P&L, the one you feel in your gut that rattles your cage so much that you want to puke it all up, quit and run for your mommy.
Self -flagellation, boo hoo is waste of time, focus, & energy here. MOVE ON.

(Think mental picture of a boxer shaking it off)

This is the counterintuitive part to trading. Here you rotate back to centered, don't believe your own"press" good or bad, regroup & center yourself and bring yourself back to square one. Ultimately move forward, never giving up on yourself or your trading. This whole thing will be in the rear view mirror as quick as you let it and move past it.

Move only when you're ready.... on your own clock. No one else's.

You're standing in a good spot ......60G's and a market that has and will present more opportunity. The Fall and Dec is coming to boot.

Pat your self on your back...believe it, you are doing well.

With all my support,

J-Law

PS Get back on track and you can be in 6 figures before you know it. A 1000 guys have been here before you and PREVAILED.
AS.....WILL......YOU !
 
Get back on it man, when you have a problem like this you really have to find the problem within yourself. (as gay as that sounds it is really true)
 
IMO, there is no problem with your trading, it's just that there was a major shift in the market recently. I bet you'll be back on point in the next few weeks.
 
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