I'm not sure what is it. I am depressed right now after the trading. Third day in a raw I cannot get it right. It's ether my entries or exits are wrong. I'm glad I didn't get huge losses yet, but I still have another two days to catch up. Haha...
I look on the charts almost all day long lately. I need a break. I have to walk away from the screen as soon as I'm done.
Maybe I'm depressed because so many times I thought that I'm so close to be profitable and then I see that I'm still so far away. Maybe I just expect too much and too soon from myself. I have to except that I cannot speed up my learning. I do take it very serious because I can see my future in trading and I know that I'll be there.
What kills me the most is myself. I cannot make decisions quick enough. I always have second guessing in my head. I cannot take profit when I have to. I probably don't have enough confidence in my thoughts. I always think that I might be wrong and I should wait.
Enough crying!!! Tomorrow another day!!!
The following user says Thank You to vovan348 for this post:
I am sure if you asked Horst what he thinks, then it is not a matter of time, but more a matter of 'waking up'.
I think unfortunately that waking up requires time for most people to really let it sink into their subconscious.
I think you goofed a few times, but you are learning and that is all part of the process. Now, I know I will probably piss some people off by saying this and this is obviously my reality so here goes...
Trading takes time. It takes practice. It takes ups and downs. But, at the end of the day, learning and adapting and mutating is the key to becoming a successful trader.
I have finally come to the conclusion why so many traders don't help others once they have made it.
1. They don't feel they have MADE IT, and are constantly evolving.
2. They realize how difficult the journey was for them and they don't want to muddy the waters.
There are the few others that can come out and do it all.
I am up something like roughly 9K (Yes, I know SIM) on one contract in 12 months. If my account was say big enough to where one gift was 2% of my total account (recommended by many) then I need $2,500 in my account. (This hasn't been a great year for me or at least I feel that way)
Making 9K off 2.5K in 12 months = 360% annually and 30% monthly. I know of anything even close to those types of returns. And, for the great majority of the year I was flat...
So, even in my miserable year of up and down craziness I was profitable and had a final great return. I guess what I am saying is that you have to look at the long picture.
The following user says Thank You to bluemele for this post:
I have to go back to those replays. They help me a lot. After a couple times it became so easy to see what's going on on the market and I could predict next move about 80% of a time.
I still think and try different strategies. I have to stop that completely. I know that everything I need is on my screen and it works very well. It's not like I'm trying other stuff because my setup doesn't work. I guess I'm just wondering what else is out there or maybe something simpler that I do. But no matter what I try or think I still open my charts every morning and trade with the same setup because I feel that it works the best for me. I just need to control my emotions.
"Just control emotions" sounds so easy. Haha...
I figure that anger leads to depression and that's when I start clicking. So my splash of emotions leads to brain blockage. If I can keep my emotions lower I can avoid clicking. The question is how I can control my anger? I tried music before but that's not it. Music sets your mood. Music effects trading as much as anything else around you. It can make me more aggressive or too relaxed.
I guess I just need to overcome it and take my trading as it is and try to make one step a time.
No offense but I do not agree on that. You think you know how to trade, you have good skills but you do not use the right system and the right tools. I am a very good trader and if I would try to trade with the system you are using I would be lost and would not know what I am doing, your system is just like if you are driving a car and look only at the 1 lane in front of you.
Without revealing the way I trade, first I can tell you that I mostly buy or sell at determined price levels that I know in advance where market should possibly reverse and also wait for certain conditions to appear before initiating my trades.
If I would be you I would reconsider the system you are using and look for other options that could help you see the market a different way. I know this might not be easy but if you wanna be successfull at trading you have to realize that trading is not that complicated if you understand how markets are behaving, once you catch it you just follow the unwritten rules that exists and trade accordingly to that.
The following user says Thank You to Larry for this post:
I'm not sure what do you mean by looking for other options to see the market a different way. As I understand you are trading Price Action to find areas of S/R and watching some indicators for conformation. I'm trying to do the same just with different indicators. To master any other indicators or system would take as much time as it takes with setup I use right now. At least that's what I think.
Why don't you just share your way of trading, or at least give us a clue. I would love to see some advise from a very good trader.
Sorry but keeping us in a dark doesn't really help. Maybe I'm just stupid and cannot read between the lines.
Yes, I agree w/ Vovan here in that anyone can master any system. Do you believe that your system is the ONLY system in which someone could trade profitably? Or, do you believe that is the easiest, fastest, best, etc..?
How do you calculate your S/R etc..? Fibs, PP's, or the hundreds of other special areas...
I also am all ears to add anything that adds value. I don't like banging my head up against the wall, but if you talk to 1,000 "Master" traders, they will probably give you 500 different systems...
I would like to find out more about how you trade as well. There is a lack of input from "Masters" on this forum for some reason. Maybe they get fed up with the negativity or dealing with the idiots... I dunno...