Tuesday, October 07, 2008

Road to recovery

I took the rest of September off after my beating. I think I had my biggest losing day and worst week since I started trading. Right now I am taking it slow and trading small. I ended last week green with a small gain.

My attitude changed for the better. Right now I am not upset about missing all these opportunities out there. I got into trouble because I let my mind get clouded by the thought of making big gains. I am reading Trading in the Zone again to refresh my memory. I am focusing on being patient and taking trades when I can accept the risk. I am just going to go at my own pace toward better trading. I want to get the confidence in taking the right setups and managing my trades. Profits will come as I get comfortable with my style.


JMJAtlanta said...

That's awesome news, OBAT. I never believed that approaching the market with a good attitude would do so much for my P&L. I've now proven it to myself, and try to "center" myself each morning. Are you aware of the CD that reinforces the thoughts of Trading in the Zone? It is real cheesey in my opinion, but I still listen to it because it helps me in that "centering" process.


OBAT said...

I have the trader's affirmation cd. Bought it awhile back when I saw Trader Mike recommending it in a post. Looks like they have a new one out called trading in the zone. I might try that one out.

I was going to buy one called trading mind by Jake Bernstein, but after looking into it further it seems like a rip off for the price. At first I thought it was a interactive computer program, by the way it was advertised, but it is just a cd with affirmation tracks.

Dinosaur Trader said...


Good to see you back and in a good frame of mind.

Keep hitting singles.


About Me

I have been trading for 5 years. It took close to a year before I became profitable. I find that I am improving gradually each year. My method of choice is scalping. My edge lies in tape reading NYSE stocks and staying on the side of the specialist. That is the method I learned when I started. As I build up my capital I will try new styles and trade new markets. In late 2006 my trading hit a rough patch after the introduction of the NYSE Hybrid system. For most of 2007, I have been on a search for new strategies that would help me adapt to the market.