Hi Neke, I am sorry to hear of your loss, I think you should consider to spend some time on a structured program like Topstep Trader to get your mind right about shutting down and to learn how to control your down side better. I mean you do well but your blow out days seems to undo a lot of your work. Better get a program where you are forced to shut down before the daily loss limit kicks in so you can really form a habit of following your personal draw down limit for the day as you wont like being shut down by the risk manager every so often. I say TST because I don't know of another company offering something similar in stocks and realize that you don't trade futures. It will however help you to form a habit of shutting down at a chosen daily loss instead of having such days where you sit afterwords and think what the fuck just happened. Ian
This is really quite painful to see. Your issues with impulse control and gambling behaviour suggest that you are not cut out for this business. You've been trying this for 15 years so I presume this advice will go unheeded. For the sake of you and your family's happiness/sanity I hope you stop trading and move on with your life.
perhaps you should place on your screen as a wall paper... "STAY THE F**** AWAY AND LET THE COMPUTER/MODEL TRADE"...
Neke, Take a chunk of your money and go on a long vacation. Stop putting yourself through this hell. a 20-30% dd during the course of a year, ok I can see it in a rough year, but you better be able to bang out 40-60% + on good years then too. It seems this has been possible for you. But...... In one day 20-30% loss, no good my man. You need to make a tough choice right now . Never fall off the bandwagon again, or give your money to someone else to manage. Thanks for your honesty, the journey is what it's all about . There is more to life than just money. Do you have any other passions that you are pursuing or could start to pursue? all the best to you sir.
Seems neke is not going to change, or does not want to change. Its probably not worthwhile for him to change anyway, as trading conservatively and patiently (aiming to make at most 50% a year) with a 100K account is most likely something he isnt interested in. Only hope for Neke is that the markets are kind to him like they were before 2010. Otherwise he will just continue to spin his wheels (give back any profits) and the account get smaller as he continues to withdraw money. Good luck man.
This has nothing to do with liquidity. This has everything to do with Neke's habit of fading a move, expecting RTM, and the inability or unwillingness to recognize that RTM is not going to happen on that particular stock on that particular day. A simple rule such as if C > O then long only AND if C < O then short only would have saved Neke hundreds of thousands of dollars over the years. This is a behavioral problem, not a market problem - the market has no problems.
In my humble view I would add that there might be a correlation to Neke's results as to the direction of the market. It seems that consistent good results are achieved only under bearish conditions. But then, what do I know...