I don't even want to post how much I lost today. I've done this many times!
What would have you done if you were in my shoes? Please share your thoughts.
That was No.2 on my solution to reduce the loss!
Friday, September 4, 2015
Help is needed.
I really need some action to change my trading habit. Here is the P&L for Monday to Thursday.
Yes, it is close 4K per day. What kind of work pays that much? Why didn't I book the profit? How can I change? I was pissed off yesterday since I was not able to click the buttons and close them all, especially I planned it!
I don't even want to post how much I lost today. I've done this many times!
What would have you done if you were in my shoes? Please share your thoughts.
That was No.2 on my solution to reduce the loss!
I don't even want to post how much I lost today. I've done this many times!
What would have you done if you were in my shoes? Please share your thoughts.
That was No.2 on my solution to reduce the loss!
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Here is my past performance since I started to write this blog in 2012. I don't remember why I did poorly in 2014. But let bygon... -
I've been wiped out today... do you believe me?
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I started this week with short positions in my hand. They were in the money on Monday. Monday night, I bought couple ES at 1423 to hedge my ...
The problem lies in risk management - what is your plan when the market does something you don't expect? If the amount of loss you had wasn't mapped into your risk set up and deemed acceptable, your risk plan needs to be modified.
ReplyDeleteYou should know what your potential max gains and losses are before the trade starts. For gains, you should set a limit where if it crosses a threshold, you start closing/reducing your positions and raise your "close all" protection if it reverses a specific amount to make sure you lock in gains.
hmm, I knew all that. :-) I just was not able to do it. That's the problem.
DeleteMaybe I'm able to do it next time. :-)
Thank you very much!
The more you can automate the process to remove the "human in the loop", the easier it will be. :)
DeleteNah. I don't believe automate/system trading. Been there and done that.
Deleteagree with soullfire, stay mechanical
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ReplyDeleteEmail: tdameritrade077@gmail.com