MrPraodfait

I love how my commentary from yesterday was just proven to be correct as 2 good trades today wiped away all the losses I was complaining about. That's the power of cutting losses quickly and keeping things in perspective. Managed to turn this week green after all.

Join now or log in to leave a comment
MrPraodfait

First day in a long time that I didn't win on a single trade. 4 decent size losses have wiped away my weekly gains and some. This whole week has been pretty shitty, looks like it might be my first red week since December unless I nail some nice trades tomorrow. Regardless, it's been a frustrating week where it feels like nothing went my way. The only thing I can be proud of is that despite my losses being a little big, they were all controlled and I didn't let it get out of hand with ridiculous size or getting stubborn, I was simply playing with bigger size (which was probably the wrong time for that considering the market is crap right now). Considering this was worst case scenario... it really wasn't that bad when put into context, my losses of today can easily be wiped away with one good trade. If you're going through something similar, keep your head up! Its part of the marathon.

Received 1 Karma
Join now or log in to leave a comment
MrPraodfait

The last 2 weeks have been absolutely terrible for me trading-wise. I had a beautiful run in January and the first 2 weeks of February and then decided to go to Cancun to visit family. Due to this, I was barely trading more than 10-20 minutes each day (if at all) and therefore missing out on a ton of opportunities that the market was offering while it was hot. Now I have a little more time to trade but the market has shifted dramatically since Thursday and I am not finding the same success. Thankfully, I recognize this pattern in my trading and looking at my profit chart I am aware that I need to be careful to not have another big loss or string of losers. I am aware that all the indicators are currently against me: busy schedule that prevents me from focusing on trading, poor Wi-Fi, frustration and desire to make up for lost time and money, a shifted market, a few bigger than desired losses, etc. And I remember a lot of these factors have lined up in the past and have led to big losses. So far I have been able to manage this drought pretty well (learning from experience) and I will continue to be careful and try to make the best decisions while I'm in these less then ideal circumstances, even if that means shutting down my laptop and not trading. I'm going to focus on protecting my gains and only trading A+ setups as best I can.

Received 1 Karma
Join now or log in to leave a comment
MrPraodfait

The hotel I'm staying at right now has terrible Wi-Fi so no trading for me today :( will look for a Starbucks or something with better wi-fi tomorrow 🤞

Join now or log in to leave a comment
KNUT
1
KNUT Jan 24, 5:11 PM

Ouch man. I was down 17k on my weed stocks. They have come back some and now I am only 10k down. I did not gut loses and ended up with worthless stocks at .0001 cents a share. That was a life change experience for me. I cut loses now pretty damn fast.

MrPraodfait
MrPraodfait Jan 24, 5:26 PM

@KNUT Failing to cut losses quickly is detrimental not only to your account but to your mindset and self confidence. Better to bite the bullet, learn, move on, and start fresh. I'm sure those weed stocks take a toll on you every day you look at them. HDII is coming back now so if I waited a month I could have gotten out for break even. But even though it's coming back now, I don't regret taking the loss because it saved me a month on anguish and taught me how to deal with a loss like that. Glad

sbrown4k
sbrown4k May 06, 6:58 AM

I have just experienced the exact same thing. I am sitting on around 8k unrealized losses. I'm still in the game but my ego has taken a beating for sure.

sbrown4k
sbrown4k May 06, 6:59 AM

I chased a spike that seemed to be all short sellers. My position was too big. I will see if there is any movement positive today but if not will cut it. :(

Join now or log in to leave a comment
MrPraodfait

I'm proud to say I'm stepping away from my computer today (or at least for right now) because my internet connection is very slow and I don't have my mouse with me, and that makes me uncomfortable. I still have the urge to trade and make money, but I'm CHOOSING to be smart and put that urge aside for the sake of protecting my account. I saw a few good opportunities this morning but I didn't feel like I was in control with my faulty touchpad. As Sykes always says, make trading work for you!

Join now or log in to leave a comment
Page
of 2