Serious: Last year I turned my account from 25k to 150k. Now my account is down to 90k.

I still will feel horrible because I paid taxes on the 150k and now I have to deduct 3k for 20 years since I am down 60k for the year.

Man I feel for you! Been there - done that. Some time ago I owed $150k in capital gains from profits that turned into a loss. I thought I was gambling with the houses $, man was I wrong. When I found out how much I owed I was devastated. I wore dark glasses at my CPA's office to trying to hide the tears and warned him I was a wreck and may nod out from all the drugs I was on. Having seen some real good prior years from me he encouraged me to take some time off & revise my trading plan to minimize loses and go at it again since I had the big capital loss carry. That made me a much better trader, but it was a long hard road to come back from. I now keep my main trading accounts with a static balance - always wiring out the profits which keeps me from getting sloppy.
 
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When I played poker full time and started to lose after a huge win I would pull out all but what I needed to play smaller games. Having a smaller account made me much more disciplined. I usually paid off a car or part of my mortgage with my withdrawal. Something illiquid.
 
Steven W said:
At one point I had a win streak for 30 straight days averaging 2-3k a day.
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This might be part of an explanation:
You made 60-90K in 1 month. Remove that "lucky strike" from your overal return and see what is left. You made 35-65K in the remaining 11 months.
So 1 superb month with 60-90K, and 11 months with a monthly average of 3-6K a month. It is clear that the most profitable month was not normal at all as you made between 10-30 times more money in that 1 superb month. Especially as you were flat every evening.

As a daytrader you should have stable returns over a long period. You apparently made the biggest part of your profit in 1 month. So the eleven remaining months were generating much less profits.
 
Steven W said:
My system is still somewhat solid. I do scans everyday and I'll say 98% of the time one of the stocks in my scanner will be the top gainer for the day consistently. At one point I had a win streak for 30 straight days averaging 2-3k a day. Now I have been losing 70% of the days so far this year. It is even more frustrating when everyone else is making money with the market constantly going up.
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Just carry on. Your profit distribution is fine...you'll hit another month sometime with big profits that will more than wipe out the losses.
 
I lost a lot of money in stocks. But the stock market fcked up in one way. It shouldv'e knocked me out when it had the chance. Now it is time for vengeance. Going to get it all back!
 
algofy said:
troll thread
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I agree,
Basically everyone on trading forums are pikers. o_O:confused:
Whenever someone mentions a relatively large sum, I'm always fishy about it.

If someone does have that kind of money...usually they are conservative and reserved about it, or don't throw those numbers around.
 
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