<i>"I think you may be bored. Boredom is a dangerous emotion in trading."</i>
Definitely, without a doubt. RM, we cut our teeth during a time where the NQ routinely made 200+ point intraday ranges. It even sprinkled in a few 300+ point intraday ranges. $150 stocks like PDLI commonly swung thru $25 rolls two or more times per day.
I doubt many active readers here can remember the Dow being negative -400 index points on a gap & crush off the bell, only to snap back violently and turn green before noon. How many YM traders here (or anywhere) have ever faded a -400pt opening gap and held longs waiting for it to close?
From 1999 thru early 2003 it was sheer pandemonium all day, more sessions than not. Conditions were favorable for plunging, doubling down and holding on for recovered gains from unrealized losses. I recall reading where a friend / mentor of yours would be down six figures in the morning, leave the position open and come back hours later to find it now up six or seven figures.
That's how I learned trading works on an internal = emotional level, too.
*
With rare exceptions now, those markets are gone. The only thing comparable these days are commodities in general with crude oil in particular. Equity markets have their moments, but not even close to what it used to be. Now we have to carefully pick our spots, and have the fortitude to sit idle thru the lulls.
Sitting idle for traders who learned thru the wild times is incredibly tough, maybe tougher for us than others. Trying to press the pedal into sideways churn will spin wheels into a deep hole. I've done my share of that in the past, it took forever to ingrain the fact that trading = making money is more boredom than exhilaration.
I know for an absolute fact that most traders here (and everywhere) who finish a day with net-loss began most of those days with modest to solid profits. In other words, most losing days at the end were acceptably profitable at some point earlier in the session.
Food for thought
**
Excellent to hear you back-filled a significant trough. There ain't a person here who isn't rooting for you (and likewise for every serious trader) unless they are complete, legitimate jerks. Now it's time to quit digging new pits in your capital reserve. I had a similar conversation with group of traders yesterday. This profession is 90% mental / emotional, and we're reminded of that fact on a daily basis. Heeding the reminders and making behavioral change is the tough road to continual success.
Take great care of yourself, RM
Definitely, without a doubt. RM, we cut our teeth during a time where the NQ routinely made 200+ point intraday ranges. It even sprinkled in a few 300+ point intraday ranges. $150 stocks like PDLI commonly swung thru $25 rolls two or more times per day.
I doubt many active readers here can remember the Dow being negative -400 index points on a gap & crush off the bell, only to snap back violently and turn green before noon. How many YM traders here (or anywhere) have ever faded a -400pt opening gap and held longs waiting for it to close?
From 1999 thru early 2003 it was sheer pandemonium all day, more sessions than not. Conditions were favorable for plunging, doubling down and holding on for recovered gains from unrealized losses. I recall reading where a friend / mentor of yours would be down six figures in the morning, leave the position open and come back hours later to find it now up six or seven figures.
That's how I learned trading works on an internal = emotional level, too.
*
With rare exceptions now, those markets are gone. The only thing comparable these days are commodities in general with crude oil in particular. Equity markets have their moments, but not even close to what it used to be. Now we have to carefully pick our spots, and have the fortitude to sit idle thru the lulls.
Sitting idle for traders who learned thru the wild times is incredibly tough, maybe tougher for us than others. Trying to press the pedal into sideways churn will spin wheels into a deep hole. I've done my share of that in the past, it took forever to ingrain the fact that trading = making money is more boredom than exhilaration.
I know for an absolute fact that most traders here (and everywhere) who finish a day with net-loss began most of those days with modest to solid profits. In other words, most losing days at the end were acceptably profitable at some point earlier in the session.
Food for thought
**
Excellent to hear you back-filled a significant trough. There ain't a person here who isn't rooting for you (and likewise for every serious trader) unless they are complete, legitimate jerks. Now it's time to quit digging new pits in your capital reserve. I had a similar conversation with group of traders yesterday. This profession is 90% mental / emotional, and we're reminded of that fact on a daily basis. Heeding the reminders and making behavioral change is the tough road to continual success.
Take great care of yourself, RM
was going to try to lead you into figuring it out, but i'll just tell you. there are at least 3 lessons you should take away from this. i'm a reasonably successful trader, so feel qualified enough to give the advice. plus, advice is easier to give than follow oneself 
