Hi All I have not posted in a long time. Heres the deal. Last month got absolutely demolished $8700 on my first trading day last month. The most I have ever lost in a day is about $2700, but this was unprecedented. Talk about a deer in the head lights. This was an absolute blow and completely threw me for a loop. The trade lasted about 40 seconds. It was a dollor candle on a 4 dollar stock, can you believe that? Took the rest of the week off and came back fighting the following week. Actually wanted to end up positive $1 for the month, that was my goal. Ended up $3200 so was ecstatic about that. See attachment for March. I have also attached my numbers so far for this month. Its weird when you take a major major hit and you can come back from it you gain a whole new perspective on your trading, now that I have hit bottom and come back from it nothing seems to phase me, losing a G on trade is not so bad anymore, on the upside I know that I can make more then $500 per day which was my average. I feel like a born again trader, if there is such a thing.....lol The numbers for May dont include today which was about $1100.00 Cheers to all - like MilMan says "records are meant to be broken" The number ONE thing I have learned through my despair from last month is the more trading becomes a money thing the more you are destined to lose.
Absolutely, positively true. You really become a good trader when your focus is on trading well, not watching the dollars go up and down. Trade with the goal of only executing properly and let the money take care of itself. Easier said than done though. No blotter today, I quit mid-day. Finished down a few hundred bucks.
I completely agree with that. When you're watching P/L you may lose attention on the setup and sometimes cut the profits to soon. It happened to all of us once and many times. If you focus on long-term results and just forget about the day P/L you get better results. Of course, in this business, the theory is easy to say, the hard stuff is to make it on the court...
done for the day......have been greatly lowering my risk lately....find its much easier on my balding head to make 1k a day nice an easy like than havin a +3k day followed by a -3k day followed by a +3k day......even if i make a bit less each month the lower stress levels more than make up for any finacial loss!