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Registered User Joined: 1/8/2007 Posts: 56
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I have been so successful at failing. I think I could make people a great deal of money by posting my trades. All my readers would have to do is that opposite of my play and they would be "in the money".
Jeez what a week.
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Registered User Joined: 4/18/2005 Posts: 4,090
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I had a long stretch like that! from late november to two weeks ago.
All in almost 15K of draw down. Bull headedness and determination is a killer for traders.
If you are generaly proffitable and suddenly now arent .. then conditions are changing or you subtly changed your aproach, so stop and reevaluate your aproach. You're better taking the time off and calling it capital preservation then forcing it...
Read, study, think and come up with an alternate plan... learn to take your trading to another level or just sit it out. I read somewhere that some of the smartest traders are out of them arket more than they are in it ... waiting for the setups and conditions they like.
the market has been chopy for a while now.. with only a few spurts of nice clean follow through.
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Registered User Joined: 10/7/2004 Posts: 2,126
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Tuckerp try straddles on the same stocks. They will allow you to play both sides - just make sure the stock have high volatility and that the prospecs are any but staying flat. If that is too complicated then insure your trade, that should be a liitle simpler. good luck
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Registered User Joined: 9/21/2005 Posts: 566
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Tuckerp229, been there myself and can feel your pain. If my trading gets terrible, I will take a break, do some other stuff and come back to it when (days or even weeks later) I can be trade without as much of a mental burden. One tip I can offer is to focus on the sectors rather than the stocks. Analyze where the money is rotating to and where its rotating out of and you may see better trade results. Like being a small raft and having a big ocean liner pull you along.
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Registered User Joined: 4/18/2005 Posts: 4,090
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Tucker.
Please read the "simple method for a newbie or not so newbie".
And plese don't think I'm boasting but I'm having verry good sucess from the method in the "simple aproach" thread.
it may be a tough time to initiate new trades right now... market is probably a bit over sold on the short term, possibly not on the longer or intermediate term. This could be a minor low in continuation to the previous trend or it could be the begining of something more serious... the next few days should tell all.
Last night the scan produced NFLX as a candidate.. I didn't trade at all today because the scan number was low.... 16.
Today is 6. So in the next few days it should start picking up new oportunities.
also in some markets various strategies backfire. I generaly use a buy above price to get into trades. For several months Had I been shorting above price I'd have madea killing. but now it seems to be working again... or was.
aslo many people on this thread have been very good and inspirational to me during that time. If you wanted to look at some of your trades I wouldn't mind, or your methods.
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