How true! I recently lost 15% of my account in two days but was totally unfazed by the loss. Why? Because through dedicated backtesting and optimization, I know that my system's max drawdown is 19%--as long as I don't go beyond that, it can make up the loss on its own. Going beyond a 19% loss would indicate to me that my current primary trading system is no longer tuned to underlying market conditions, and even then, I wouldn't see it as a catastrophic loss. I learned from my last personal crash that it's all water under the bridge (after suffering a crushing defeat in Nov.-Dec. of 2003, I came back strong and blew through my all-time highs last month. Now is the inevitable pullback). It's great to be cool about losses and not take them personally.
I agree with you... samson77. And you're right it does take some "courage" and humility to publicly ask for input, and ET allows that right! Wish there was an ET.com years ago! And you are again correct that everyone has gone through similar issues in one form or another! Hope the rest of the year is a good one... even without traderbrad's help! (just joking, bro). b.t.w that humility that you are willing to exercise will turn you into a good trader down the road... imho! Every time through all the years that I became too over-confident, and began to believe my own "press", I would get bi*ch slapped by the markets! It's an amazing truth..... right out of Ripley's, but if one does NOT stay humble/exercise humility their... entire.... trading "career", sooner or later the market will knock them down to size. Period!!! IcE
Have you considered programming your setups and allowing your computer to trade for you? It's the ultimate way to discipline yourself and free yourself from your screen.
Good bye samson77. we are off now, since great minds like yours domiate this web site. When your grandchildren ask thier parents why grandad was put into the mental institue, why not have a short video made now that they could show them that proves you were right and the rest of the world was just plain wrong??? To all the real traders out there - good luck boys. spit.
I tried this and it's very hard!!! But then again very rewarding!. Samson - what sort of trading system do you use to input orders - does it not have something to tell you your position?
I'm not sure but I think he's samson77 mentor. "You seem to have a loose definition of courage.Who is traderbrad?"
Break time.... Vacation time.... boy have we a cruise for you and your family (c/o Carnival Cruise lines)..... road trip..... anything to get yourself back on even keel (nautical term -- righting the boat, correcting the list, trimming the sales, etc.)