My Day Trading Journal
- Thread starter tonynyc
- Start date
Well, after my personal adventures this week, I am more confident than ever in saying that the stuff I read 25 years ago in Market Wizards and The Disciplined Trader are true. My relationship with the market is just a reflection of my beliefs about the world and the way I interact with it. I love being right, it was reinforced in schools, and I will defend my own opinions if not to the bitter end, at least until I am forced into awareness. You could tell me that this or that was going to happen in the market with absolute certainty and I would still find a way to sabotage my best intentions. But I think I can change. Anyway it's your thread I'll shut up.
Trading is about finding and exploiting an edge and having enough dicipline to follow a plan and not deviate and to always act in your own best interests at all times. So many people says it's all between the ears and it's all psychology, I personally find that to be a bunch of crap. Finding an edge is really really really hard. If you don't have an edge it doesn't matter how good your discipline or psychology is.
Yes I agree....I've definitely self sabatoged.
Not a criticism because I fight with this myself quite a bit. You seem to be happy taking relatively small win days and then suffer the occasional massive draw-down day. If you're going to have the occasional massive draw-down day, you likely need to have an occasional massive profit day.
Gains and losses are only gain and losses when the trades are closed out, show me where I suffered a "massive draw-down day"?
Right here.
Now i believe you got bailed out and ended up scratching the trade or taking a small loser but that's still a drawdown none the less. It could have very easily stayed at a massive loss.