I got my ass handed to me today. It was horrible. it was deplorable. It was...say something don king. Ah. And why you ask? Today, yet again, is another day that shows me that being a profitable newb is really a fragile thing. It doesn't take much for things to unravel. I've heard of a lot of guys blowing up before they turn the corner. I haven't had to do that, but its basically the same thing...like having your account be stuck in a range. Its not like this day hasn't happenned to me before and its mostly some kind of mental/on tilt related thing. But seriously...its like the range is in effect. (come to think of it, I was doing my best when i traded pd, pcu, x, nue) but seriously, with a performance like this, you guys are gonna want to know what i'm in everyday to be on the opposite side. have a good weekend.
LOL, hilarious. The funnier thing is that this guy does not realize that him being for real is the more pathetic scenario. An insatiable need for approval and praise from a message board must be torment.
I blew out my account many times over the last 25 years, especially when I was a newbie. Money management and sticking to a Trading plan is CRITICAL. If you don't have a plan, in writing forget it. I can tell you 100% of the time where I Enter a trade, exiting is more of an Art. I'm still working on Exits. I know what indicators I use to enter, money management and then it is just a matter of staying glued to my 7 friggin monitors.
Praise from THIS message board Blunt. I've seen your comments over the years, I've been here a lot longer than you. To get praise from this board would be a Miracle. If you want a friend get a dog.
I told my son I lost $40.00 today in the futures market and that on Monday he would have to sell some of his toys and get a job to support Daddy's habit...
Still over your head, eh? It's your incessant need for praise that should be of concern, not whether you get it or not. To be honest, you're just another example that money does not equal happiness. People that are content, don't brag.
F-Trader Registered: Nov 2002 Posts: 223 07-07-06 01:49 PM "Definately a newbie. Keep getting Emotional about trading and you will be asking me if "I would like to Biggie size my order." Are you following a predetermined trading plan or just winging it? $20 on GOOG is like 50 cents on a Dow stock, no big friggin deal. I've seen GOOG move over $50 intraday many times, do a chart search. Don't get your panties in a wad because you were lucky on this trade."
good to know you're showing him the important things in life. Do you let him read your awesome posts on ET as well?? LMAO
The moment you link your self-esteem to your P&L you set yourself up for that enormous drawdown when the market says X and your system says Y. You'll hold into that move against you for any number of reasons, then the next day/week you'll grind yourself down further trying to fight back your damaged pride. So far you've proven you need to make money to both be a good father and to be loved by anonymous people on the internet. What this means is that you've enormously low self-esteem, even in regards to your own family. Hydroblunt is right. Better internalize what he said in a sincere way.