Above are 4 trades, I should have made today. All four are big winners. My net for the day so far is $95. The trades in the EURO - I should be up $500. The trade in BRCD should have net me about $1000. The Trade is the APA should have net me about $1000. And last the trade in the YM should have net me at least $800 and if I would have held threw the first bounce, it would have net me $1400. So let's be conservative and $2500 base on the size I would normally trade which is a lot less than I could.
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Instead - I made a little fucking $95. How stupid can I keep? How much of a big ass chicken am I? This is so frustrating to the point it brings tears to me eyes.
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And yesterday, the trades there should have net me about $8,000. If I went crazy, I could have made 3 times that amount easily.
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What is my problem? I pick out to follow very good trades but seldom can I act. I would feel a lot better if I was picking out really stupid trades, and then I could say I am a complete loser. If I made the trades, I picked out and sat on my hands until the market told me to get out, I would have made enough money this week to stop trading for 4 months.
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Maybe I just should fucking give up on this dream. And if one more person tells me maybe you should reduce your size, I have. Last year I many times traded 500 to 2000 positions. Now I trade 50 to 500 shares.
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I just wish I could get myself so pissed off, I would just make the trades.
6 comments:
Denarii,
You should reduce your size. ;)
No seriously, you had good spots (especially the 2nd chart), it's just the execution. I hate taking losses and am usually too conservative - thereby missing some of the big moves. It's a delicate balancing act. You have to find that happy middle ground.
-BD
It's all mental man. Your mind is fucking with you. You seem to be picking out good trade setups. I think you need help on mental more than your TA. I recommend reading the book called "The secrets to:Emotion Free Trading". Cheer...
yo bro,
Hang on there. You will hit your jackpot soon. Only those who keep on the fighting spirit will get the unltimate dream.
Im very sure that you can make it. The best part is you didnt lose money.
So keep on fighting. Dream Big and you will acheive it. =) all the best.
Hey bro, 1st time in the neighborhood ;)
Have you watched the link Glenn posted last week for the video of the Leavitt Bros regarding :Guidelines to Successful Trading?
If not - just DO IT NOW!!! (http://www.screencast.com/users/LeavittBrothers/folders/Default/media/a494d4f6-8cc3-48c4-b465-419388cecb5f)
The main point is: Specialist Win,Generalists Lose.
Looking at the charts you posted, I find nothing in common. Forex, Futs, Stocks - what's the deal?
Learn a setup, look for it all day long and trade ONLY when you really found it. Become a Specialist!
This is your only hope bro.
Good luck!
Beating yourself up is just going to make you upset or depressed, and that won't get you anywhere. Look at what you did right - you spotted some sweet setups! Hey, that alone takes work. You traded and not only didn't you lose, you made money. I figure you son't need to become uber trader overnight, so just pick one simple thing that you would like to do for the next week and make it stick. Maybe it's taking every setup with 100 shares, even if you punch out right away. Then when you get that, you can work on holding for longer.
But who knows, maybe you're like Richard and you find that you can make a solid income by not holding, by not catching the big moves. Yeah it would be nice to make 30R each day but life can be pretty sweet making 1-2R on average. As BD said, if you play for the big moves, you'll probably give up on the much more common small moves.
Good luck man, I hate to see you beat yourself up when you've accomplished so much.
hey Denarii, sorry you missed those trades today. we had a crappy day also. i have some charts on the blog of the trades we missed and one that we took in TEX but got stopped out like a couple retards.
bottom lines is that no matter how long you have been trading or how many times you see the exact same setup, every trade is different and you will NEVER get every trade right. you just have to learn how to make the most of the ones you do get right and try to gain a little ground every day.
better luck next week.
www.10kthrownaway.blogspot.com
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