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My Goal for 2007: Break-Even
- Thread starter datamerc
- Start date
Thanks gaj - you're exactly right about how one undisciplined day can take out so much hard work. Like they say, it takes decades to build a good reputation but only an day to ruin it.Quote from gaj:
i see you're doing better on your trades recently. good job!
discipline, and the psychological part of trading, is so important - you can have great trades going, and one undiscipline day or trade can blow things up.
good trading!
Most importantly, I think that in some way this online journal is helping me become more disciplined - even if only in small increments.
I've read through this entire journal and its obvious to me you are under capitalized.
I don't see the point of trying to make $100, only to get wiped out with large losses killing 5+ days of work. Thats like taking 1 step forward up Mount Rushmore, only to have the heads fall off and crush you 3 steps later.
You need to learn to stop daytrading and hold onto positions longer. Until you understand that, you aren't going anywhere.
I don't see the point of trying to make $100, only to get wiped out with large losses killing 5+ days of work. Thats like taking 1 step forward up Mount Rushmore, only to have the heads fall off and crush you 3 steps later.
You need to learn to stop daytrading and hold onto positions longer. Until you understand that, you aren't going anywhere.
Thanks for reading my journal EtfTraderLives. You may be right, but I think that my problem is an issue of discipline rather than day or swing trading. For me personally, it is a lot less stressful not to hold positions open overnight. With day trading I am able to treat it more as a job if I sit down, maybe place some trades, then go about the rest of my day and start fresh the next day.Quote from EtfTraderLives:
I've read through this entire journal and its obvious to me you are under capitalized.
I don't see the point of trying to make $100, only to get wiped out with large losses killing 5+ days of work. Thats like taking 1 step forward up Mount Rushmore, only to have the heads fall off and crush you 3 steps later.
You need to learn to stop daytrading and hold onto positions longer. Until you understand that, you aren't going anywhere.
Why not try this datamerc:
Daytrade with 1/2 of your account
Swing trade with the other 1/2 of the account; hold for 3+ days
The latter will force you to pick your sweet spots.
Daytrade with 1/2 of your account
Swing trade with the other 1/2 of the account; hold for 3+ days
The latter will force you to pick your sweet spots.