Man, if that is the case, why don't you adopt a AUTOMATED ONLY trading approach? The computer will never, ever be emotional. You feed in the computer with the strategies and go work in another job orgo for a walk, and come back only after the market closes. if you want to leave trading I wish you all the best. But think about what I said above. Warm regards.
That's the crux of it. My whole life I've been super disciplined as an athlete a business owner etc... That's what makes this sting so much. As far as automating my methods, I tried that too but ultimately I still had control over the computer and would do idiotic things like turn off the stops when I thought it was appropriate.
I've tried EVERYTHING from reading Kiev, Douglas, Steenbarger, I even hired Robin Dayne the NLP psychologist. I meditated, I visualized, you name it I've tried it all and some stuff helped but all it takes is one bad day like today and I wipe out 2 months worth of profits. So what's the friggin point.
I looked at POT and saw no reason technical or fundalmental to short it right now. The stock is going to up based on increased inflation plus for the day it shot up from the open and has been trending higher for the last few days. If after 5 years, you can not see this, then yes you should not be trading.
If you really have been at this for a long time and still aren't capable of doing it, then maybe trading is not for you. The idea that somehow you should just keep working at something until you succeed is ludicrous. People are suited to different things, and part of self-intelligence is understanding what you are good at and what you are not good at. Just because you may have figured out that trading is not for you, it doesn't mean that you are in any way stupid or deficient... it could just be that your particular mind-set is not well-suited to this activity. Who knows, maybe Bill Gates or Einstein would have been terrible traders - I wouldn't call either of them dumb. I personally know a number of extremely intelligent people that could never become traders in my opinion, but that doesn't say anything about their overall worth as human beings, and in some ways they are definitely smarter than me. So if you have evaluated yourself, tried every possible thing you can do, and still can't consistently make money at this, there is no shame in walking away. In fact, it may be exactly the right thing to do... maybe you are much better suited to doing something else, like running your own business. Good luck in whatever you do!
Nice try monday morning quarterback, but- You are a fucking moron. POT is trading exactly where it was back in February despite the huge market rally. POT is some 20%+ LOWER than where it was in May! All that while commoditiy stocks have gone ballistic due to the falling dollar and inflation fears. Also, POT has been unable to solidly break through the upper 90's despite numerous attempts over the last four months. Next time don't be such a douchebag. ------------------------------------- Best of luck to you Vespasian.
You are working on the wrong problems. You need to know the truth about the markets. Those are not truths. What you wrote are issues that hurt you, but they are not issues that, if solved, are sufficient for you to win. You need someone to teach you. If s/he tells you the problems are things such as emotion, discipline, stops, etc, just walk away. There are reasons the price does what it does. You need a scientific approach to it. Again do not follow the teachers that work on the wrong problems.
If you want to see a moron, look in the mirror. The only good trades since morning were longs, and I took them with real money and 100% win ratio today. Maybe, you should join him since you obviously can't trade your way out of a paper bag.