This was the week from hell for my trading mind. I first did a stupid - I am bored trade that cost me $400 on Sunday night. Most times my stupid trades do not cost me this much. I added to that on Monday where I was trying to play a breakout in crude. Two times I place order just before the breakout only to get filled at the top and quickly stopped out. This cost me $1100.
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By the time Tuesday came around, I should have stopped trading for the week. My mind was not screwed on right anymore. I had 5 stock trades this week. All of them went in my favor with out me because I could not deal with waiting for them to work. This cost me about $2000 in profits.
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Then on Wednesday, I had place a trade in the YM futures. Again the market bounce around before taking off in my direction with out me. Using just a simple trailing stop I could have made $800.
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The worst of the week was then on Thursday. I Shorted the crude market 3 times. Good entries. Right direction but in each case I would gain say $200 then it would come back where I was up only $50 or maybe break even. I would bail at that point not honoring my stop loss only to see the market collapse. I made $170 and left $3000 on the table.
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The it was back to stupid, I am pissed trades on Friday but thank god I only lost $180.
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So after the first 3 big losses(one being stupid and two not waiting for break out to occur), I never even came close to trading any my trades as planned.
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Any incredibly stupid week for myself adding to the mistake I made last week and digging myself a nice big hole.
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God I suck right now. I badly need to straighten my head out before I really hurt myself in the pocket book.
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The numbers:
Stock Futures: +22 (should be plus $400 or more)
Stocks: +41 (should be over $1000 or more)
Crude futures: -16212 (should be plus a $2000 or more)
Gold Futures: +172 (only happy trade I had this week)
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net -1386
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This should have been a great week for me. All 5 stock trades should have been winners. The gold trade was a winner. The 2 stock future trades should have been big winner. And of my 10 crude trades, 5 should have been winners and 5 should have been losers but the winners should have been much bigger than the losers.
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I had the markets right in so many ways this week. One of my best weeks for figures things out but I really fucked it up. Sad so Sad.
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And please no one give me any of this Would of, Should of, Could of Bull shit. I am basing my comments on my possible results if I only followed my trading plans. Most of the stupid time I have the orders in already to do the plan. I only then hit the get me flat button way too often.
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2 comments:
Ouch, sounds like a rough week. I think all traders have been there, not following their own rules. I know I have. It is one of the most frustrating feelings to look back and realize you lost control. I guess that is why psychology plays such a huge role in trading.
I admire you for posting it publicly. That has to give you a leg up on people who keep their errors to themselves. I think accountability is important.
I just found your blog, and I have to say it is refreshing to see someone express their honest results and feelings about trading.
Keep up the good work blogging, and good luck on your trading.
Bad week made so much more inufuriating that you planed the trade but didnt trade the plan.
I admire your honesty and that you share the harsh truth with us.
I hope you get a break, clearly you know what you should be doing.
Nice blog, appreciated
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