I made money doing computer work on Friday. I ran into an issue and cut myself, blood is shooting out of my finger and dripping into the laptop screen. I did not let it get to me. I maned the fuck up. Put a bandage on and finished the job. Also, my trade the night before worked out. Obviously, your issue is you are deaf. You don't want to hear good advice or you are too stupid to listen. Sorry to be harsh, but that's what you need. Every real trader told you to stop trading and earn cash flow. You can't trade with scared money.
You know what your problem is, you just described it. Don't lessen to tips and don't let negative people suck your energy. You need it to find the real reason you cannot yet stop the bleeding after being successful for a while. Self analysis is the hardest and the most gratifying way. Whish you the best
%% NOT clear if his main problem is non planned trading too big or lack of chart study/which makes it super hard to let profits ride. Most likely both.......................................................................
My problems can be defined as (without a specific order): 1. Letting my losers run to the stop loss, while winners are cut short, in fear of a reversal and profit going negative and turning into a loss. 2. Overtrading in order to achieve more profit, which ends up clouding my thought process, giving back what I made earlier. 3. When P&L is negative, averaging down in a day trading set up, which did not work, in HOPES of it working and ending up in a massacre. 4. Trading my P&L and not the trade. I did it today with MARA. I bought into it, the signal did not work, I averaged down, ended up getting massacred. Find attached the set ups I traded today. $PLUG short, $SKLZ short, $MVIS short would be great winners, if I stayed with them, and scaled in the trades. I don't know what to do and how to cope with my mentality. Logged in with my PTA. Made $400, trading only NVDA and BABA. Paper account is thriving, 100% winning days. I feel very discouraged and demoralized to be honest
Trading way too much. Trying to win back losses ... only brings more of them. I hope you realize that by now?
(not trading advice nor recommendations, but my opinion is): Looking at your trades the problem is obvious. It's not so much how you're trading, it's WHAT you're trading and your risk reward, it's way off. Trading 60 shares of an expensive over - $50 stock to scalp 50 cents is all wrong imho. Numbers don't make sense. I like daytrading stocks/etfs $15-$40 /share, minor gap continuations . Look carefully at today LABD, great chart for example. Or this example
All emotional issues. Paper Up, Live Down. Par. Just a guess but your paper trading is probably not that disciplined. Trade paper with absolute discipline, then try live. That is what paper is good for. Paper is Bad for a "free pass" to try things or risks that you would not take live. Also WAY WAY too many stocks for your skill level. Why so many? Market does not have enough action for you? Looks like hyper emotional trading. Just slow down. Calm down. Markets will be here tomorrow. Play the long game, not the short one.
Listen to me. Just go to learn coding and build your own algo trading strategy because it is backtested and somehow can give you confidence. Otherwise, just invest your money in other traders. Never forget the reason why you start trading. You start because of money. You want to make money instead of having fun. Just remember this aim, this purpose, this reason. Then, ask yourself which path has the highest possibility to make you rich? If you don't know and feel confused, that means you are not top. Don't worry, most people are not top, including billionaires, PhDs. For example, Mark Zuker berg is talented, but he may not know how to build FB ad AI model, so he is not at the top. The people who give you comments are also the same. Most of us are good, but we are not the top 10 traders/funds in the world. However, you can invest your money in the top people. Let me tell you the truth. My Sharpe Ratio and Calmar Ratio are above 2 in 15 years backtest time frame (ISS and OSS) and real trading. Nevertheless, I know some people who are doing better than me and I am going to invest some money in them. Just remember: you don't need to do on your own. You can discover opportunities from other top people.
I have realized it long ago... but despite the fact that I want to stop it, my mind says otherwise. Truth to be told, before I enter a trade, I do not analyze the potential reward compared to the risk I take. I also find it very...humiliating to be afraid of losing 5 or 10 dollars... Which I am right now afraid of losing. You are correct on everything you said. Even in the paper account, I am not disciplined at all. I do take risks I would never take live because I do not care about losing that money... Becoming disciplined at this point seems extremely difficult. I do not know how I have ended up being in this emotional rollercoaster, unable to strictly follow rules and perform everything according to the plan. I sure wish I could fix it and improve, I just don't know how. The problem is that I do not want someone else to trade for me. And why would this someone else trade for me? If he is profitable he does not need my money to be more profitable. I want to build my own success. No matter how hard it may be. It is hard. It might be impossible. It has a huge toll on my mental health. But there are people who have made it. I also want to make it. As for the algorithmic trading, you are absolutely correct on that part... But my hands are already full and I can't add yet another endeavor aiming to accomplish at the moment... P.s: Today I took a single trade, felt scared jumped ship...