This is one of those days I hate...

Discussion in 'Trading' started by Ivanovich, Jan 31, 2008.

  1. ...when it seems that every trade I make is faded by the market the moment I make it. Ever have those days? You know, when it seems like the market is waiting for you to foolishly place a trade so it can instantly fade you the moment you hit "submit"?

    I think the best thing that can be done on such days are to walk away from the table and go out and play. Do something fun. Let the market lose interest in you and then go concentrate on some other poor scumbag. :)
  2. Hahaha, every trader goes through moments like that.

    You put in a trade, and BAMM, it goes against you right away.

  3. You got it bro. Go out and enjoy the day. Return to the markets once your karma makes a comeback!
  4. why is today so 'noisy'? i guess volume is too light?
  5. I've seen those friggen maniacs who post about how they believe there's a conspiracy to move the market against them individually. I laugh at them and think it's hilarious, just like the next guy. But days like these sure to make you wonder. :)

    I'm off! See you all on the 'morrow.
  6. Lots of noise after 11am. Having trouble finding good entries right now other than quick scalps.
  7. On those days similar to what you mention, I find that my problem is primarily an inconsistency between my bias and the price action.

    ie. On one day, I was biased long therefore looking for long entries when the market was fading all day. On another day, I was looking for a trend long or short therefore trading breakouts, but the market was going no where and I was getting whipped around.

    My advice, step back. If you gain clarity, begin trading again. If not, don't enter any more trades or end the day.

  8. Yes - 6 of 9 trades I made yesterday were exactly like that
  9. Good insight, Disciplined.

    True, in this situation most traders get angry and overtrade by revenge trading (not a healthy choice for your capital, believe me) The experienced trader however stops trading and reasesses his mindframe. The bias is there even for these traders especially in a day like this when after a prolongued period of choppiness :) comes a strong trend. Practically your brains is in a different frame

    Imagine you're just learning to drive. If you drive the car you're used to you're doing ok (not fine, but ok) If you are asked to drive another car you feel almost like you never drove and you want to get out:)) Pushing the peddals in a frenzy hoping that you will do ok will get you nowhere

    So the key is: no later than after 3 consecutive SL hit (i'm sure you do use stoplosses) take a break and try to aknowledge and understand the difference between price action and your moves(expectations): are you going for a longer trend (breakout) and the market is sideways etc..

    Easier said than done, i know ! heh

  10. donnap


    Me too. :mad: At least I'm not alone.:(
    #10     Jan 31, 2008