After 4 years of Net profitable daytrading (each and every month) including the old days as a prop at Broadway paying 2 cents on a 50% payout! ouch. I am currently on pace for my worst month ever. Yet the current choppy market is very condusive to my style of scalping long and short playing MM in typically thin stocks.. For whatever reason I am trading about 85k -150k shares a day, when I used to be between 35-60k. Now I constantly find myself in and out, long then short and back in again feversihly. Always gross positive. But churning my as$ off. Jumping in with size , without watching, then jumping out, then in, then on to something else. I never used to trade like this. It all started when I wanted to take home more than my typical 6k-8k per month. After nearly 50 months of consistent net profits, yet never one check of 10k in a month I just want to step it up. Yet the more size I trade the more I trade and churn, and lose. I have now turned to reading the pschyolgy forums.. LOL. I have lost my discilpline before always to get it back the next day, now I seem to be on a path of craziness and frustration. Granted Im only down $2700 for the month (had one blow up day) It has gotten in my head. I have net lost 5 out of 10 days now. When I typically only have 1-2 negatives a month. Not 5 out of 10.. I question myself, come up with the answers, (solutions and strategies) but seem to forget it all around 9:40. Seems like during this slump I always seem to be trading from behind. Starting off red $500 and seemingly reversing losses to a gross profit of $300-$500 each day, but paying $600-900 in commissions @ 7/10ths no ecn or misc fees, the firm loves me. BUt my nights and weekends are ruined now. I go from mad to guilty to sad and depressed back to hating myself again. Typically when Im doing well Im in the zone all day and it just flows. Now I over analyze everything, throw all discipline out the window. And seem to liek or accept in a weird way getting out of every position for a 2-7 cent gain or loss. Is there a doctor on the elite board?..
This slump all started when they took INCA away, which was myprimary bid/offer representation. Now trading arca and isld, with all the pegged and programmed orders its driving me crazy, like I said I trade thinner stocks where one or two players that may be just enough bid support or sell pressure. Either way, My Other problems aside, was just curious as to whether any body else has noticed a difference.
sounds like you need to change your trading strategy now that INCA is gone. I mostly use ISLAND and love it to bits
What happened ? It was predictable as posted last year http://www.elitetrader.com/vb/showthread.php?s=&postid=208149#post208149 "02-22-03 10:30 PM Higher fees, higher account, higher margin call, higher speed, higher taxes : <font color=red>prepare for that or you will be washed out</font> like some french floor traders who didn't expect it. If you are swinger you won't feel too much affected but if you are scalper the difference can be huge." How to fix it ? Have to change your style, your scale, your method, that's why I said that it was better to PREPARE BEFORE IT REALLY HAPPENS TO YOU. Now you are taken by surprise: it's the price to pay for this non-preparation.