Yeah Triple A, I'm anticipating quite a few scratch trades. Unless my entries are perfect every time, which of course can't happen, I also anticipate some larger losses as I let the price find it's way. I don't see anyway around it except to try and control it as much as possible. I have no qualms with sitting in front of the screen all day. What I can't stand is doing anything else but trading. I can go without food and live in a box if I have to, but my pesky kids keep saying they're hungry and want to see Spy Kids... want, want, want... what about MY needs!
it come from seeing and doing the same thing many times, sort of like driving my car to work, hardly remember what I do but the next thing I know, I arrive at my predetermined destination. Re: spy kid, mine ask the same question.
so your gains on the 80% must be too small or your losses on the 20% must be too big...i think its the first one ? also my problem, the classic "cutting (some) winners short". i think the critical piont of steping out of the break-even zone is to capitalize on the few big winners, that you hit occasionaly. the amazing point to me is, how long it takes to erase that "behavior" of cutting winners short. seems like every time, you put on a trade, you cross a thin line and suddently youre hit by a spell + bound by some magic forces... trading
Just don't trust this rally, don't think nasdaq can sustain its gains today. Uh oh, I think I just killed my chances of making any money on the long side. Yeesh.
Looks like I got lucky again but I'll take it. Gotta go to work, commentary later. +11.5 points / 2 RT's
I'm kinda waiting for the shoe to drop with this new method I'm employing. I know the drawdown is coming, I just don't know when and how much. Since it's only been two sessions, can't really make a judgement there either. So I'll just keep on the defensive so nothing drastic happens. I think the benefit of trading multiple contracts would shine in this case. After taking a profit with one contract, the other one could be left to run with a protective stop. Of course this would only work in a trending market but being as we've been trending lately, I think it could have worked out. However, I just can't bring myself to trade more than one contract at this time. Not for fear of pulling the trigger but for lack of confidence in my trading. All it would take is one wobbly week and I'd be in that same hole again. Doesn't take much when you don't have much. Some of the comments made by Hardcash and Ditch and others really hit the nail on the head for me. Somehow my early success (relative) trading the NQ distorted my horizon. Before I started I posted on my bulletinboard "profitable after a year", but I was profitable immediately which caused a chain reaction of distortions in my mind. Next thing you know I was trading 3 contracts with 10K in my sights. Ha! Well here I am a few months later desperately trying to breakeven. I have since conceded that this is gonna take some time; I don't like it but I do accept it.
hey bronks, same story happend to me, i was up on the first 2-3 weeks, thougt i was a natural born killer and since that time its been going down the drain...now my account entered a consolidation period, maybe it will work out as a trend reversal...