@TheProfInvestor@TheProfInvestor hey prof you’re doing great work! Thanks for everything. Silently follow every post but wanted to encourage you to keep going
@Peoplewish All so valid. Made every single mistake. I would also add: entering a trade when the price is “close” to my planned entry price but didn’t trigger yet (not following my trade plan)
Needed to vent.
I've lost 21 trades in a row.
It's been a brutal month.
I've lost +10% of my entire portfolio.
My risk is at .1% risk per trade now. If I lose two more trades, I will cut it to .05% risk and will keep halving my risk.
I will let the market kill me with 10,000 paper cuts.
I can't tell anyone else about it because no one around me will really understand.
I would rather get punched in the gut several times than feel this pain over and over and over.
I've come to the conclusion that I haven't done enough work. Maybe I have to go back to paper trading again. After 13 months of growth stock trading, I've come to the conclusion that finding that edge in trading is extremely difficult. I've read books over and over and over. Journaled every trade. Analyzed thousands of charts. I made money in paper trading, so I thought I was ready. Clearly I was wrong, dead wrong. The market completely just humbled me these past 13 months and I don't think it's done humbling me. It took all these great traders YEARS before they stopped losing money. There was no way I would be an exception. I knew this in my head but I did not know how I would react emotionally to all this. It's brutal.
So many thoughts are fogging up my mind. Should I change my exit plan? Should I take profits quicker? Should I change my entry tactic? Should I widen my stops because I'm getting stopped out so easily? Should I quit while I have my remaining capital? I know I don't want to quit.. but deep inside, I know I have to take a break or do something to change this up. I kinda don't know what to do at this point.
Damn, this is a tough tough game. I KNOW that the other side of my trade has done more work than me. There's no one else I can blame but myself for losing and I know I have to accept this. I want to get better. I want to level up. I know I can do this. I can't give up.
Christian. I’ve had 20+ losses in a row. Many papercuts.. besides significantly reducing size of positions, my question is during a losing streak like this, I was wondering if you wait to trade until the NCFD indicator you mentioned dips below 30? How do you use this indicator when you trade?
@TheProfInvestor@elomaquiabelo I think Dr. Paul said this.. set your buy order at where you would’ve originally put your stop.. takes immense amount of discipline
@stonks_sensei Um damn it. I fell for this yesterday. I closed a green trade because I got stopped out of 3
Other trades. That 1 trailer could’ve probably done wonders.