Whenever I hit a rough spot, I start keeping a journal that details everyone of my trades and why I entered/exited. I also print out a chart of the trade. It takes an insane amount of time to do it all, but it really helps me focus on my trading and pinpoint the weak spots.
So you started trading in 2001 right? This market is reminding me lately of the volatile times of 2001-2002. How did you do during that period? I know that was the beginning of your career but it might prove useful to look back on that period.
Sell Premium, and keep selling. You can do a few years on the sell side and then Blow up. If your lucky, you can call the right moment when to stop selling premium.
OP, I've seen people in your shoes before. You need to gain your confidence back. The above helps and I would also recommend trying to go for a series of "layup" trades... where you gain that consistency and then confidence.
I can't believe nobody's said this... Hope you have some cash for this: 1- 1 way ticket to Vegas 2- Get FUBAR'd 3- Get laid or 1- 1 way ticket to Hawaii 2- go to sunset beach 3- exhale Either way, come back when you're ready.
Thanks for those who responded with reasonable answers, and they all seemed reasonable, so a month later and cutting my positions back about 50% in size and building momentum I have managed to build some confidence back. I wish I only had done the whole Hawaii and Vegas things prior to getting the confidence back. Because, now I will be plugging this thing until the next rut, which if my history is correct will be six years from now...Vegas can wait.