What do you do when you take a big hit in the markets?

Well, I've had my fair share of killer days in the market, and what I always do is just take a few days off to clear my mind. I've found that if I keep trading nonstop after the big loss, I still want to try and make up that loss quickly, thus I take excessive risk and most likely I'll just increase my loss.

By taking a few days off, I allow the loss to set in, get comfortable with my new p/l numbers and that lets me get back and trade my normal style.
 
Quote from qdz2:

Let me tell you my experience. It may be not as constructive as you hope. But it worked for me.

DETACH! Stay away from what made you to lose, of course you may not know what it was at first. AND...blame others instead of yourself! Stay away from blaming yourself. For example, see, how the manipulators can do to you. Later, you will understand why you lost in some degree correctly or incorrectly. For example, how small I am comparing to the market. Never lose all. Always leave some space to detach and come back later.

:p
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LMAO! Give me a break!

thanks for making my day... I like laughter.
 
was talking about the part where you say 'blame others'. That is the joke; this isn't a blame game. It's the opposite. Take complete responsibility to get better, and do it. No different than in any endeavor or athletics, and such.

b.t.w.

"Great love and great achievements involve great risk... when you lose, don't lose the lesson!"
 
I'm the most profitable trader that i know, but i still have huge anxiety whenever i'm in the midst of a drawdown. Will i ever get back to my previous high? Do i know what i'm doing? Will i continue to lose everything that i made the previous year? I suffered only my second losing month as a pro trader last month, and yet still i'm full of self doubt. And fear.

I know of know way to make the fear go away, except by going back into the battle and making some money. Only by making the money back that i lost, will i make the fear and anxiety go away.

Please market be kind next month.
 
Quote from silk:

I'm the most profitable trader that i know, but i still have huge anxiety whenever i'm in the midst of a drawdown. Will i ever get back to my previous high? Do i know what i'm doing? Will i continue to lose everything that i made the previous year? I suffered only my second losing month as a pro trader last month, and yet still i'm full of self doubt. And fear.

I know of know way to make the fear go away, except by going back into the battle and making some money. Only by making the money back that i lost, will i make the fear and anxiety go away.

Please market be kind next month.
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http://www.elitetrader.com/vb/showthread.php?s=&postid=141192&highlight=anxiety#post141192

nitro
 
Ah, but I am talking big money my friend. Position size increase is a must, lots of guys can make a thousand a day :) That is a quater of a mil a year, but can one make 20 to 30 a day. You have to come up with new edges, maybe even new markets to trade. For some a quoter of a million, working 6 to 7 hours a day, taking a lunch and having fun is good enough. I think all that stuff is pretty nice. But the big money now, ahhhh. Game on big fellow. By the way the market is open now for an hour, how many guys on this board, do you think have the book loaded up right now?

Gertsman
 
Quote from gertsman:

...By the way the market is open now for an hour, how many guys on this board, do you think have the book loaded up right now?

Gertsman
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I am. Just made +1 1/2 on ES - could do it all night long...

However, I can't trade around the clock like some people seem to be able to if I want to be worth a damn tomorrow....

nitro
 
Apparently,now you can afford that transgender surgery you've been talking about for so long. :D :D :D

Maybe when I'm bored I'll start a thread about your known trading and sexual conquests:cool: :cool:
 
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