Discussion in 'Trading' started by xtrhvydty, Sep 2, 2008.
Tough day eh? Hope it gets better.
OMFG, now that's keeping it real!
Until I got a handle on my trading I would go from this:
... to this:
Just try to maintain your focus and work through it ... trading is all about discipline.
Maybe you should replace it with a steel door for more of a challenge.
I haven't had that kind of day in a while.
But you and I do have a little something in common though.
I didn't wreck anything but when I got po'd, I would take every piece of trading related notes, charts, everything on my desk I was working on and put it in a box and put the box in the basement.
I either had to recall what I was doing from memory or start over. Often it would lead me to a new approach because I did not want to start over with what wasn't doing me any good in the first place.
I got this once from thumping my desk with my laptop on it.
this was actually many moons before I had developed rigoruous trading discipline. I have a note taped to my screen: "Never a bad day if you follow your rules." One of the rules I adopted over time was to quit trading a certain system for the day after 2 consec losses, and to limit any 1 day's loss to 3%.
The door in question resulted after a day where I lost twice on a certain system, while simultaneously breaking my rules for stop loss%. Furious, I traded twice more, and lost twice more. Finally I gave it one more shot and lost again. The net loss was 0-5 and exactly -$2000 for the day. At the time, this was a 10% loss in one day. That was the last time I broke my rules, and I haven't had a bad day since. I made it all back the next month. That's two months of sweat and tears to break even.
I've kept the door as a reminder : )
havent felt like that in at least a year, but i know the feeling well.
Separate names with a comma.