First of all don't even think about trading real time at this time. The bottom line is that your method of trading does not currently make you money. Back in september when the markets were very volatile my day to day fluctuation strategy in which I would held onto stocks overnight and sold or bought back in the morning totally became irrelevant. When you have a successful method it is extremely easy to realize when the method has stopped working. On the contrary it is easy to realize when you have a successful method even though it is difficult to find a successful method in the first place. The money either goes up or it goes down. So what is my advice? Ideally I would suggest you isolate yourself from all things and people that relate to the market. I say this because no one else is trading but you. Sense your the only one that makes input about the markets you can't let anyone or anything influence your opinions. After you limit yourself to only your thoughts study every single time frame there is to trade. One of my biggest opinions on trading is that people have to find their time frame. I believe almost every single time frame is profitable but no one person can trade every single time frame. The time frame a person trades relates to the traders natural instincts of trading. Find a time frame of trading in which you have the ability of making money.
Sure, just about everyone in this game, myself included, has gone through that route at one time or another. But being mindful of losses and trading with scared money should not be seen in the same light. Being mindful of adverse consequence means that you have a plan in place and you're free of emotion. Trading with scared money, however, means that you're emotionally attached to your trades. One is being objective; the other subjective.
I have made and lost 20K in one month but that's not stopping me. I'm new at trading and I had made pretty good trades. One rule is to use trailing stop loss order to prevent surprise trap door when the stock tanks quickly. At least you'll be able to keep your capital and not let your emotion drive your stock all the way down to the bottom. I usually bail out at $500 loss and wait for uptrend before jumping right back in. It's easier to recover $500 than $3,000. Gotta learn how to control your emotion otherwise you'll lose all.
You can! Just trade safe and very small. Maybe you should look at longer term trading instead. Daytrading can easily make people overtrade. Who said that it was not the trading that made him money but the sitting?
Scared money never wins. The fact that you are scared shows you have no method in which you have confidence, and no risk control approach that you know will stop a blowout this time. So my advice is don't trade. Rather you should spend the next few weeks/months working exclusively on working out a bulletproof risk control system.
Sure you can do it. But if you want help you are going to have to give a little more info. Both about yourself and how and what you trade. Do know what you did wrong? I would think you have to start there. You can't fix a problem if you don't realize what the problem is. don
I find it very strange he is not giving us any details (trades, equity curve, style, methods, money management, bet sizing, etc). Nothing has been divulged.
Market Wizards, interview #6, page 167: Interviewer: What is the most important advice you can give the average trader? Wizard: That he should find a superior trader to do his trading for him, and then go find something he really loves to do.