Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
I just saw this post and wanted to mention what happened to me yesterday. Although I am usually a fairly disciplined Trader..I made some foolish trades and took larger stops than usual. I then started doing several 10 contract Trades on CL to make up the loss. Needless to say, I had an epic disaster.
I contacted Matt and told him I was done...To please close my account . I told him I was devastated since I have devoted every day for the past 5 years of my life to trading, and it was all a total waste. I just felt I didn't have the proper mindset to keep doing this.
Here's some things he wrote back to me :
Lance, I hear you.
It was not a waste. At least, you could say you had balls! You tried, you learned and you took the risk!
Some guys NEVER take any risk …you did it !
I think you are a better trader than an average guy, but you just didn’t define daily risk parameters.
I have got to know you on a better level, and its sucks to lose guys like you.
But, this is such a tough game….. I respect your decision.
Do you want a check?
We had some more e-mails ...but the bottom line is..how many Brokers would respond like that when you tell them you are closing your account ? To me, that is a class act. I know people are nice when they want your business...but how about.. when you are taking your business away?
Matt, just want to thank you again for how you treated me yesterday and I hope you don't mind I posted your e-mail on the Forum.
The following 3 users say Thank You to lancelottrader for this post:
Favorite Futures: Stock, Options and now Futures (ES)
Posts: 514 since Dec 2010
Thanks: 227 given,
Doesn't surprise me one bit.
lancelottrader, I don't know you, but hang in there and let this make you stronger, and a better trader. It seems that many traders, possibly most, and very successful ones have had such unfortunate experiences...
Do your best to have a fantastic weekend.
The following 2 users say Thank You to TonyB for this post: