Nucking Futs

Whenever I hit a rough spot, I start keeping a journal that details everyone of my trades and why I entered/exited. I also print out a chart of the trade.

It takes an insane amount of time to do it all, but it really helps me focus on my trading and pinpoint the weak spots.
 
Quote from my2cts:

So I have been trading for 6years+, I consider myself a professional ( so does the NASD). I work for a prop firm. My problem is as such, what made me a good trader from the get go was my ability to hold on to my winners for really nice gains, and cut my losers very quickly. (pretty obvious huh?) Over the last few months My P/L has fluctuated ridiculusly, I know the market has been super volatile but, I am a short term momentum trader. I have completely turned the table and now instead I am holding loser after loser for huge losses. Hitting out at the bottom no less. (or the top) I used to have a great balance for risk and reward and now I hold a point against me for 20ct winner. Furthemore, when I get down on the day I keep firing into a blackhole compunding my losses. When I get up I play ultra conservative to preserve up days. My question for anyone on this board is "has anyone that has been profitable consistently come across a rut like the one I am experiencing, and what worked for you to get back on track? Or have I just lost my touch?
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So you started trading in 2001 right? This market is reminding me lately of the volatile times of 2001-2002. How did you do during that period? I know that was the beginning of your career but it might prove useful to look back on that period.
 
Sell Premium, and keep selling.


You can do a few years on the sell side and then Blow up. If your lucky, you can call the right moment when to stop selling premium.
 
Quote from Midas:

Decrease your size until you get consistant again. Also, taking a break really helps.
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OP, I've seen people in your shoes before.

You need to gain your confidence back. The above helps and I would also recommend trying to go for a series of "layup" trades... where you gain that consistency and then confidence.
 
I can't believe nobody's said this...

Hope you have some cash for this:

1- 1 way ticket to Vegas
2- Get FUBAR'd
3- Get laid

or

1- 1 way ticket to Hawaii
2- go to sunset beach
3- exhale

Either way, come back when you're ready.
 
Thanks for those who responded with reasonable answers, and they all seemed reasonable, so a month later and cutting my positions back about 50% in size and building momentum I have managed to build some confidence back. I wish I only had done the whole Hawaii and Vegas things prior to getting the confidence back. Because, now I will be plugging this thing until the next rut, which if my history is correct will be six years from now...Vegas can wait.
 
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