what the hell is happening to me? I've been daytrading futures and have gained profits each day during the first 4 opening hours... then suddenly it all turns around and I get ten, twenty, a dozen... trades which all go in the wrong direction and liquidate any profit of the day. This has been happening to me for over two weeks now, and I'm thinking about just trading in the mornings, but I'm looking for a reasonable logical explanation? Anybody with similar experiences? PS: I take same risk/reward ratio throughout whole the day...
I know exactly what your talking about. If you look at my journal, I have been trading the YM and do fairly well almost every morning session then give it all back and go negative in the afternoon. Not sure what is going on there, but the afternoons have been killing me past few weeks as well.
I can't explain it, but I am experiencing the same thing in futures. I was about $340, my goal is $500, and I said no I need to keep executing when I see my signal, now 7 more trades later I end the day at $285. I was thinking of stopping and going to the gym, I should have listened to my intuition. I got back to $285 by breaking my rules and scalping 7 ticks here and there, not smart. Maybe we should consider this a gift horse. Think what you could accomplish with the extra time in the day, not sitting in front of the screen?
What happened? Could be this: http://www.amazon.com/gp/product/158799190X/104-7630805-8910313?v=glance&n=283155
I'm happy to read some others are having the same awkward situations... In my cases, I'm usually about 5% ahead, which I believe to be very good considering a risk/reward ratio of 1:3 to 1:4. But in the last couple of weeks, my days are ending with losses that amount to more than 5%!
This is weird cause I find trading after opening hours' volatility to be much easier.. I have much difficulty with the first Hour and a Half of trading.. and find the afternoon the best time for me
ja, gettin' massacred on my openin' range trades in the past few days only to recover all losses and more durin' the afternoon....mrvl saved me buttz today.
I'm with you, but with stocks. From 930 to 11 I usually pull in 3-10%. Then after that it's all sorts of ugly. I've been gambling on earnings in my overnight bp lately and have been taking a beating.