This is intolerable

Discussion in 'Psychology' started by agras01, Feb 10, 2004.

  1. agras01


    This is intolerable for me.

    I started 14 weeks ago trading SPY, QQQ and KLAC. This is it!

    By the first week of January, I was $500 net. The next 3 weeks were a “total” disaster.

    I an in the read for $1500.

    Anything I do is wrong, I am long the market sells off, I am sort the market rallies.

    My account is over $30000 but if I go back to the market now is almost certain that I will keep losing.

    I tried to trade small, to make few trades, make tie stops, make wide stops
    nothing works.

    And I know success is to product of knowledge, money management and psychology.

    The last one can kill the other two. I am a wreck right now and I can talk to anyone

    that is why I put this post. I don’t expect that any reply would solve my problems

    but I need to get it out.

    I never made any serious money daytrading, The only serious money I made was by

    swing trading. I might go back to it. Daytrading I lose double, my loses and my

    commissions. I longer timeframe I think I have better chances at least I proved it to

    myself years ago.

    I got to give myself some time to recover and some winning trades to regain my confidence

  2. Everybody goes through this. After quitting for the hundredth time it gets easier.
  3. Probably a good idea..

    Obviously what you're doing right now is not working.. you need to regroup and come up with a new strategy.. if you have one that is..

    Trading on intuition doesn't work.. I've studied the markets for what feels like an eternity and believe me its hard to do.. I can't trade that way anyway.. and judging by your post you're trading very emotionally which never works either..

    Do you have a trading plan?? if so, are you following it?

    Good Luck to you.. Hope you can stop the bleeding..
  4. wdscott



    It took me 5 years to learn how to daytrade. Keep at it and be patient. Your skills won't develop overnight. It takes time.

    Dave Scott
  5. wdscott


    So True :) :) :)

  6. pspr


    The beatings from the wife after a losing streak never get any easier. :D
  7. Hi Agras01,

    Seems like an easy solution to me.

    You know what works and what doesn't.

    Stick to swing trading because its where you make your money.

    Congrats on having a winning methodology (swing trading).

  8. bobcathy1

    bobcathy1 Guest

    The biggest hurdle is to know what time frame suits you best.
    I like to day trade, but like a swing trader. I do not trade all day. A LOT of day trading is patience to wait for a set up to form. I spend 99% of the day flat. I chat online to pass the time. :)

  9. you havent done the work to iron out the kinks in your method.. you shouldnt be "trying" tight/wide stops in real time.. this is something that you should already have set based on the results of your studies..

    i spent alot of time being really dumb about this business.. i spent more time trying to figure out what i was doing wrong than i did measuring what the market was doing.. very expensive and painful approach.. invest the time to know exactly what you intend to do, or you are better off to stick with swing trading..

  10. Brandonf

    Brandonf ET Sponsor

    Youve been doing this for 14 whole weaks. Start bitching after a year or so. It takes time.
    #10     Feb 10, 2004