What a f..ing day. I'm too embarrass to admit it, it's a f..ing day. Shorting 2 points abv the vwap and I saw it's not going to work, my old sickness came back. Instead closing the position, I added another 2 positions and it destroyed me in the end = -$300.
The point of the story is I'm glad I'm doing combine. It does put a lot of pressure on me and I need to learn how to control the emotion and just cut the loser quickly.
At this point the 3rd day and I'm pretty much in the negative territory on the combine and it doesn't feel good. I need to clear my head today and strategize on my game plan for tomorrow.
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Hi rintin, don't be too embarrassed. Been there. Still I might go there again. Take your lumps and learn from them. Despite the natural feeling of frustration and embarrassment, you are in good company here. Now if you decided to switch to a personal account and repeat the same mistake day after day, throwing your savings away, different story . . . But it seems you are taking a responsible route to beginning trading, so all good.
Like you said, try to clear your head and get back to basics. If possible, wipe the account total out of your head. Like they say in professional sports playoffs, take it one game at a time.
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Reset the account and made merely $4.5 LOL. Trading is a really really difficult I might say and it broke my heart that I had to reset the account. After 2 days in a row blowing -$500 each day, I found it difficult to get into the rhythm this afternoon.
From the chart you can clearly see my 1st&2nd trade would have been a big winner but my mind got clouded by big losses and I traded scared. Even the 3rd should be a winner if I can be a bit patience. Somehow I can't accept losing and it really pissed me off. I still haven't found the answer on when I should just accept if the position is just a loser vs being patience and let the trade to work out.
Having a target to reach at certain time definitely play it's part. I know I can get a losing day or smaller gain day and get covered by a big win day, but somehow my mind still can't cope with that fact.
It's the journey that I'm taking and will need to conquer. I'll hope I'll see the end of this dark tunnel sooner than latter.
@Kowabunga ....tell me more about the hint, i need it ...really
Ok, i did lose $150 today, but i feel good actually, why? I followed my rule, cut early loser. I gave the chance for the winner to run. I did feel more relax. The only problem i still need to work on is overtrading. I tried to get back yesterday losers by trading afternoon and early morning (way over my head)...this has to stop, thats where most of my lisers came from. I will be out of town tomorrow, so no trading for me...maybe its a good time for more self reflection.
OK, starting to get the hang of it a bit, -$17.5 for the day.
There are 2 trades @ the extreme that should have worked great, but I set the stop too tight.
1. Don't trade off hours
2. 9 round trips, still overtrading
3. Be patience...don't trade like crazy, the hardest to kick out this habit....just trade the extreme...and wait for confirmation
With these rules, I'd say max round trip would be 5 to 6 per day.
I will experimenting with these and see how it goes.