I am wondering why I am stuck in a rut these days. Half of the month have gone by and I am only up $400. It is frustrating to put in the time and effort only to see minuscule returns. I did not encounter any big blowups. I had 2 days when I lost $200.
I think the volatility is good and the opportunities are there but my psychology is preventing me from taking advantage of the moves. I feel like I am getting even more conservative. A month ago I was able to make more trades and embrace the risks. My performance a year ago in November 2007 is much better than my results now. I had a lot more guts back then.
Since I am only up a little this month, I am afraid of losing my gains and being negative. It feels like a trading day when you make a couple hundred right off the bat. You get sloppy and take a series of loser and end up giving away most of your gains. Now you are in a situation where you are torn between making your money back and fear of losing more and going negative. I have had many experiences like this and I think most of the time things get ugly. This is how I feel about my month. The fear of ending the month negative is crippling.
Sorry to bore you guys with the depressing account of my trading. On the bright side I may be down but I am not beaten. I still have my hopes up and I will keep trying till I figure things out.
- 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.