Good question. It's Why I'm feeling like a total amateur. It's the same old pattern of being uncomfortable after a loss and subsequently taking a quick profit to feel good. This invariably happens when I have something going on outside of the markets. It's like I NEED to be a rockstar trader to feel worthy. And we all know, when we think we need to make money every day, the strategy doesn't flow, and it's a disaster. I got to a place on Tuesday where I said, "F... it, I'm doing it my way". It always feels good to say, but the results are rarely good. The funny thing is, I've already been doing it my way, since I came up with the exit strategy on my own. I guess I was pissed and being rebellious toward my self. Or, what many who are reading this are thinking, sabotaging myself. It's a medical thing, but I just received some better news this morning, so I'm going to try some very small size today. Knowing everything is going to be fine not only gives me a huge sigh of relief, but it made me realize how badly I was trading on Mon and Tue. and that reminds me to never trade when something is bothering me. Gotta be sharp in this business, and that requires a clear head.
After learning how to trade I went and tryed my luck in the startup investment world, I have to admit I sucked big time and didnt have the energy nor determination to learn that much, but from what I learned I think the most valuable concept I learned was the one called "Product Market Fit". A company can only take outside money seriously if they have achieved that milestone, and that is in escence the fact that the company has developed a SYSTEM to create and deliver a product that adjusts to the desire of their MARKET. When I learned that it clicked "This is the same thing we do in trading" we spend thousands of hours creating a SYSTEM that fits the way the market works. Somethin of the like of "System Market Fit" I called it. What good business owners do once they achieve PMF is simple, put someone else in charge of OPERATING the company and grab a briefcase and start visiting VCs to close their next funding round. They do not stay in the company trying to prove they are smarter than the system that just proved to work. If you see your trading as your Startup, and you find something that works, let it work, dont try to prove you can be smarter (because that is stupid) just try to push it to its limits without bending nor breaking the rules. That is what I did, my system is incredibly simple and wayyyyyy tooooo boring, but whenever I tried to tweak it I messed up my results and worst of all my emotional stability. I hope my 2 cents help! BTW I am not a US Native so please forgive my bad english.
You're not operating a business and the markets don't care. The idea of only showing your losing days is dumb for obvious reasons.
I think its a mistake to ignore @poopy Yes, he can sometimes go on the attack, and he loves to stir up shit, but when it comes to trading, he knows his shit. Even if he thinks you are full of shit, if you can back it up with proof, he will apologize. Too many fakers here at ET, so he does the job sometimes of cleaning house. He tends to shoot first and ask questions later, but he will give respect if you earn it. You're of course free to ignore him, and its not like you need anything from him, but there are hundreds more people here that I would ignore before him.
My humble advice: don't ignore @poopy. Often hard to stomach because of his directness but he is the real deal.
Thanks for your advice. But life is too short to have to endure a rude person who in the first interaction calls you dumb. He can be Jim Simons, but if he is rude I just don't care what he has to say. If you dont have somenthing respectful to say, dont say it here (And if you say it, as you are free to do, I will just not notice). There are hundreds of threads eager to allow that kind of behaviour.