Trader P/L 2013

-58 gross

I was torn up immediately. I think I need to chill out and watch the first 30 minutes or so. I was very impatient today. I took mediocre trades and added to them way too early.

I need to adjust my trading attitude. I'm being affected by the losses this month. Instead of just trading and letting the numbers fall out how they will, I'm forcing trades in order to try to make my money back. I would probably be doing so much better this month if I just waited for good trades. Rather than being patient, I've just been thinking "I need a trade! I need a trade!" Having a P/L of zero is so much better than losing.
 

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Quote from Chuck Noblet:

I need to adjust my trading attitude. I'm being affected by the losses this month. Instead of just trading and letting the numbers fall out how they will, I'm forcing trades in order to try to make my money back.
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my biggest issue as well is sitting on my hands waiting for "setups"... perhaps what will help you is remembering that any force trade is really outside of your plan and as such will just automatically create a loss...
 
Quote from Chuck Noblet:

-58 gross

I was torn up immediately. I think I need to chill out and watch the first 30 minutes or so. I was very impatient today. I took mediocre trades and added to them way too early.

I need to adjust my trading attitude. I'm being affected by the losses this month. Instead of just trading and letting the numbers fall out how they will, I'm forcing trades in order to try to make my money back. I would probably be doing so much better this month if I just waited for good trades. Rather than being patient, I've just been thinking "I need a trade! I need a trade!" Having a P/L of zero is so much better than losing.
More...

Don't let this become a habit. If you want to be successful at trading long term you have to accept that losses are all part of the game. If you don't, it will quickly spiral out of control. Take it from me, I made this mistake and it is what ended my full time trade career and forced me back into corps America after being away for 6 years.

Well that and not understanding how vol influnced my PL over last 3 years.
 
-5 gross

I was more cautious today, but found the chop very frustrating. Lately, things have just been coming back on me. I believe I was up on every single trade that I took today only to see small winners turn into losers or break even.

Movements seem to have become very choppy. With Independence Day coming up, that may make things suck even more. I will try tomorrow out, but if I don't like it I may just take some time off until July 8 after the holiday.

Thanks for the feedback from other posters. I'm going through a rough patch, but I'll adapt and adjust. Patience really is the key for me now. For the way I trade, good opportunites show up just a couple times a day now, but they are there. I need to wait patiently and then go for it when I see them.

I have scaled back on my risk until I find a little consistency again.
 

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-45 gross

I definitely didn't like the action today. Again, a lot of chop and BS moves. As I mentioned before, I don't like this market action and with the holiday coming up it's probably not going to get any better. I'm going to take some time off from trading. I'll probably return on Monday July 8 after the holiday. I could use the time to destress, clear my mind, spend some time with family, and do a little home improvement.
 

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