This is intolerable

A

agras01

This is intolerable for me.

I started 14 weeks ago trading SPY, QQQ and KLAC. This is it!

By the first week of January, I was $500 net. The next 3 weeks were a “total” disaster.

I an in the read for $1500.

Anything I do is wrong, I am long the market sells off, I am sort the market rallies.

My account is over $30000 but if I go back to the market now is almost certain that I will keep losing.

I tried to trade small, to make few trades, make tie stops, make wide stops
nothing works.

And I know success is to product of knowledge, money management and psychology.

The last one can kill the other two. I am a wreck right now and I can talk to anyone

that is why I put this post. I don’t expect that any reply would solve my problems

but I need to get it out.

I never made any serious money daytrading, The only serious money I made was by

swing trading. I might go back to it. Daytrading I lose double, my loses and my

commissions. I longer timeframe I think I have better chances at least I proved it to

myself years ago.

I got to give myself some time to recover and some winning trades to regain my confidence

Agras
 
Quote from agras01:


I got to give myself some time to recover and some winning trades to regain my confidence

Agras
More...

Probably a good idea..

Obviously what you're doing right now is not working.. you need to regroup and come up with a new strategy.. if you have one that is..

Trading on intuition doesn't work.. I've studied the markets for what feels like an eternity and believe me its hard to do.. I can't trade that way anyway.. and judging by your post you're trading very emotionally which never works either..

Do you have a trading plan?? if so, are you following it?

Good Luck to you.. Hope you can stop the bleeding..
 
agras,

It took me 5 years to learn how to daytrade. Keep at it and be patient. Your skills won't develop overnight. It takes time.

Regards,
Dave Scott
 
Quote from easyrider:

Everybody goes through this. After quitting for the hundredth time it gets easier.
More...

The beatings from the wife after a losing streak never get any easier. :D
 
Quote from agras01:

...The only serious money I made was by

swing trading.

I might go back to it...

I got to give myself some time to recover and some winning trades to regain my confidence

Agras
More...

Hi Agras01,

Seems like an easy solution to me.

You know what works and what doesn't.

Stick to swing trading because its where you make your money.

Congrats on having a winning methodology (swing trading).

NihabaAshi
 
The biggest hurdle is to know what time frame suits you best.
I like to day trade, but like a swing trader. I do not trade all day. A LOT of day trading is patience to wait for a set up to form. I spend 99% of the day flat. I chat online to pass the time. :)
 
Quote from agras01:

Anything I do is wrong.. I tried to trade small, to make few trades, make tie stops, make wide stops
nothing works.
More...


you havent done the work to iron out the kinks in your method.. you shouldnt be "trying" tight/wide stops in real time.. this is something that you should already have set based on the results of your studies..

i spent alot of time being really dumb about this business.. i spent more time trying to figure out what i was doing wrong than i did measuring what the market was doing.. very expensive and painful approach.. invest the time to know exactly what you intend to do, or you are better off to stick with swing trading..


-qwik
 
Quote from agras01:

This is intolerable for me.

I started 14 weeks ago trading SPY, QQQ and KLAC. This is it!

By the first week of January, I was $500 net. The next 3 weeks were a “total” disaster.

I an in the read for $1500.

Anything I do is wrong, I am long the market sells off, I am sort the market rallies.

My account is over $30000 but if I go back to the market now is almost certain that I will keep losing.

I tried to trade small, to make few trades, make tie stops, make wide stops
nothing works.

And I know success is to product of knowledge, money management and psychology.

The last one can kill the other two. I am a wreck right now and I can talk to anyone

that is why I put this post. I don’t expect that any reply would solve my problems

but I need to get it out.

I never made any serious money daytrading, The only serious money I made was by

swing trading. I might go back to it. Daytrading I lose double, my loses and my

commissions. I longer timeframe I think I have better chances at least I proved it to

myself years ago.

I got to give myself some time to recover and some winning trades to regain my confidence

Agras
More...

Youve been doing this for 14 whole weaks. Start bitching after a year or so. It takes time.
 
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