Monday, September 10, 2007

-$9,200


Done for the day, lost -$9,200. I don't know why I don't care. I use to scream at myself for these big losses. It's like it isn't even real anymore. I'm leaving to go to school. I'm going to study hard................Thanks ER2, for completely obliterating my account. Thank you, me, for going long ER2 instead of YM. I don't care anymore... My life sucks. Thank you.

2 comments:

Anonymous said...

Day trading is not what we think it is when we first get started, is it?

All the glamour, the thrill of the kill, the smugness we feel when we are right... Making money we say is always at the top of the list but when you delve into yourself you may be surprised that it is further down the list of motivators than you would like to admit.

When it comes down to it, you are still trading dollars for your time. For you to make money you will have to sit there all day watching for the right moment, properly identify the right moment, properly execute your trade, properly manage your trade, and then properly exit your trade, all the while you are having an avalanche of information thrust upon you telling you that you are wrong, or staying in is wrong, or getting out is wrong, or whatever.

Day trading IS the hardest job in the entire world, if your goal is to be successful. If you goal is simply to be a day trader, easy enough- but it will kill you.

Rather than trade your time for dollars, creating something that earns you money whether you are there or not, is a better goal financially, mentally, and emotionally.

If you have money to invest from you endeavors, then letting someone else manage it for you can bring great peace of mind. Or if you feel the need to trade, some nice swing trading with a fixed dollar risk per trade and a goal of a three times the risk for a reward is ideal.

You are not a loser. You aren't doing it all wrong. It isn't your fault.

You are who you are and your destiny lies elsewhere. Chances are you will come back and try again, and maybe a third time too. Each time losing less money and feeling more comfortable with the idea that your destiny is along another path.

The sooner you accept your true path the happier and more successful you will ultimately me.

Just something to chew on. Of course I might not know my ass from a hole in the ground and you may become the worlds greatest trader. If that is the case, then the first step is to stop calling yourself a F'ing loser.

Take care,

J

Anonymous said...

Hello Wow 9200 . If you lost that much . The biggest questian I have did you trade with a STOP. All seasoned traders trade with stops. In trading all will have bad days. But alot more good ones. I have been trading for 2yrs the EMINIS I have made over 20000. And lost just about 5000. Not bad I think. But it takes major discapline. Also I trade on the side.

The Man that sits all day watching the screen is setting himself up to fail. Have to have rules and follow . There has to be a balance.

Dont give up though. Learn and come back. Make a plan

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