Market frustrations???

J

JM1987

Hi guys, just writting this post to see if anyone else is super pissed at this market right now. I've been trading at a prop firm since sept '10 and it took me a while to find my grove but I finally got it and started being consistently profitable. I had a really good run, I was net positive for Feb, March, April, May..... and come June, I am getting creamed. I feel like every setup I take either goes immediately against me, or runs 25c in my favor then turns around and triggers my stop. Anybody else out there finding themselves in this position? I.E. having to make big modifications to your trading plans?

Thanks

JM
 
F*&K!!!!! I know right?? no volume out there! I might just have to take the summer off rather than beat my head off the desk all day long :p
 
Quote from JM1987:

Hi guys, just writting this post to see if anyone else is super pissed at this market right now. I've been trading at a prop firm since sept '10 and it took me a while to find my grove but I finally got it and started being consistently profitable. I had a really good run, I was net positive for Feb, March, April, May..... and come June, I am getting creamed. I feel like every setup I take either goes immediately against me, or runs 25c in my favor then turns around and triggers my stop. Anybody else out there finding themselves in this position? I.E. having to make big modifications to your trading plans?

Thanks

JM
More...

so why don't you top trading for a while.... or, are you now gambling?!
 
one ore thing... July is one of the most seasonally strong months of the year historically. Thus I say we have a large upside rally soon... beginning next week, late.

See if that happens. Of course not every year has to follow the historical pattern. It may be really hot one summer here in Chicago.. and then this year is 10 degrees below norms.
 
Quote from JM1987:

Hi guys, just writting this post to see if anyone else is super pissed at this market right now. I've been trading at a prop firm since sept '10 and it took me a while to find my grove but I finally got it and started being consistently profitable. I had a really good run, I was net positive for Feb, March, April, May..... and come June, I am getting creamed. I feel like every setup I take either goes immediately against me, or runs 25c in my favor then turns around and triggers my stop. Anybody else out there finding themselves in this position? I.E. having to make big modifications to your trading plans?

Thanks

JM
More...

This happens to momentum traders with no significant edge when volatility increases. To be a true winner you need to deal both with directional momentum and volatility. I enjoy volatility to the contrary. I am not good with momentum as most people are. This market is my game. I make money at the expense of panicking momentum traders. Try to think what your edge is. Do you have any? IMO you don't. If you realize this it will be maybe the first step in you becoming a winner.
 
Do you trade both sides of the market?

Quote from JM1987:

Hi guys, just writting this post to see if anyone else is super pissed at this market right now. I've been trading at a prop firm since sept '10 and it took me a while to find my grove but I finally got it and started being consistently profitable. I had a really good run, I was net positive for Feb, March, April, May..... and come June, I am getting creamed. I feel like every setup I take either goes immediately against me, or runs 25c in my favor then turns around and triggers my stop. Anybody else out there finding themselves in this position? I.E. having to make big modifications to your trading plans?

Thanks

JM
More...
 
Yes I do play both sides, although it seems like I have been doing a lot more shorting lately. Im definitely not gambling, it just feels as if my edge isnt as good as the past few months. I try to stick to trading stocks that are inplay for the day and play the support and resistance based on tape reading. I started this post before the market open, and to my surprise when the bell rang I managed to find a lot of nice order flow. Shorted MU at 7.75, and playing off the 31.40 level on ORCL.
 
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