Losing Days

CharlesMackay · Dec 4, 2024

Sekiyo said:
The thread is going to stay empty.
We're on EliteTrader, We have no losing days
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Lets hope so

Drawdown Addict · Dec 4, 2024

Day trading will definitely have a lot of losing days.

CharlesMackay · Dec 4, 2024

Drawdown Addict said:
Day trading will definitely have a lot of losing days.
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Lets hope not as many...

CharlesMackay · Dec 4, 2024

TheDawn said:
It's no problem. I already asked the admin. of ET to move your thread to the "Trading" forum which is where it belongs.
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I am now in the Journals Section! Thanks

NoahA · Dec 4, 2024

CharlesMackay said:
I will post my first chart on the next losing day so you can see what I am talking about.
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I'm actually looking forward to this. Not to see your losing days, but just to see your entries, and especially since you just showed your monthly PnL which is wonderful from the perspective of all of us guys who would like to just trade and not work for a living.

CharlesMackay · Dec 4, 2024

NoahA said:
I'm actually looking forward to this. Not to see your losing days, but just to see your entries, and especially since you just showed your monthly PnL which is wonderful from the perspective of all of us guys who would like to just trade and not work for a living.
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For now I will stick with my losing days! But I will consider your suggestion in the future.

tony.m · Dec 4, 2024

Thursday will be your first losing day

ironchef · Dec 4, 2024

jnbadger said:
I've been trading for 28 years, and I've been on this site since before the financial crisis.

I think this is an excellent idea.

I'll start.

I've had a lot of things on my mind lately, and I probably shouldn't be trading. My winning percentage is just over 60% lately, and I've been making money 4/5 days this quarter. When I'm doing well, I'm at more like 40% and 3/5 because the occasional huge winner makes my day/week.

But I am trading like a chicken shit and I'm not hanging onto winners. I have a very solid system for adding to/getting out of winning trades, but I haven't been following it. I'm also missing awesome trades.

In short, I'm playing it safe, and that just doesn't work for me. I wait until the market slows down, when historically, the first half hour is my best by far. I'm afraid of a profit getting away, so I bail on my winners.

Today is a perfect example. Yesterday was break even, and today, I gave back all of last weeks profits after missing some easy monster trades this morning.

I feel like a brand new trader who's read a few books on trading.

It's time to step away for awhile. And no paper trading. That's way too easy.

Thanks for listening.

JNB
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You read my mind.

CharlesMackay · Dec 4, 2024

tony.m said:
Thursday will be your first losing day
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Let's hope not. But who knows!!

CharlesMackay · Dec 4, 2024

jnbadger said:
I have a very solid system for adding to/getting out of winning trades, but I haven't been following it.
JNB
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I just read this again. Why are you not following your system?