Focus on finding a pattern on the daily chart and then watch it play it out intraday. When you make a trade plan, trade that plan. Make your own watchlist and don't just trade the Day 1 Runners. I never trade the Day 1 Runners unless they are breakouts. Looking at your stats, I'd say you need to focus on short selling because you have a high winning % but you have the same struggle as me and that is cutting a loss or letting the loss get too big and go for a ride.
Quit going long and don't force it. Focus on short selling and get profitable, then slowly work in the long trades. Watch Trading Tickers over and over and that will help. Or at least it did for me. Focus on overextended gap downs. That is my highest winning % from the short side and shorting the #6 bounce on recent supernovas. Hope this helps. Look forward to seeing you climb out of the hole!
Over trading bud.
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just my opinion but learning how to lose is more important than learning how to win. My worst losing streak this year was like 16 wins out of 60 trades, but I still came out like +5k. that's like 25% win percentage. wins feed the ego, risk management feeds the account
@cwood nicely put, I appreciate how you gave me the input, really. I was literally thinking that while making the post, you right you can have a losing streak and still profit especially if you follow Tims rules to the T, my thing is confidence and results and not going into a trade every single time like I will lose but I like how you explained it well put my guy. Thanks again
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Pretty sure i heard the first lesson from Altucher lol, 2 is correct later you can change to cutting losses intelligently but it is a good habit to ingrain, 3 I think is more about also taking in others views though and considering them vs your current and making a rational decision to adjust your views, 4- Spot on, 5- Spot on. Good luck
very appreciative of your feed back, definitely will consider what you said and will apply it with reinforcements ;-)
It's through these tough losses that we grow the most imo. Gets to the point where enough is enough and you just need to change what you're doing and reevaluate. 6 years is a long time man. I hope this is the final straw before the upward momentum for you. Keep up the grind!
I am very appreciative of your input, its the pride arrogance and fear that I am now going to channel your right it has been a long time and it a it is an uproar for change. Dialing in for sure during these tough times and markets
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