So this is an admission of guilt. After my first week of trading I probably had over a dozen completed trades... in a slow summer... and a bearish market. I also used leverage like a dumbass. End result... half my account is gone. It's okay to lose money. I knew I'd have a learning curve to overcome before I got good at this, but at this pace I'm not even going to last till I receive Grittani's DVD. So, I changed my screen name to Disciplined. I'm only going to allow myself one trade per day, if that. I also need to admit that I truly don't know shit. I'm a smart guy, but I'm uneducated in this field and I need to just accept that I'm dumb here, let go of my ego.
My only positive note this week is that I'm good at cutting losses. I need to improve at taking profits, even if they feel 'small.' Relative to the size of my account, I shouldn't be hoping for huge gains just to outpace the fees, subscription, etc. Or because I want that big money soooooo badly. Achieving an average of only 5% on each trade each will lead to increasing my monthly income by over 50%... in the first fucking month! So that's what I'm going to focus on from now on, just growing my account steadily instead of wishing for a big killing on every trade.
Always be studying,
Disciplined
Identifying the issues is the key to success. Good luck in your trades
Wow, we're paddling in the same boat! For what it's worth, a few things that is helping me navigate better: plan your entry/exit before the trade, hide your profit/loss columns, practice trading super high volume stocks to practice discipline and getting use to reading support/resistance. I'm practicing using Forex because of the enormous volume. (The caveat here is the lack of volume indicators and level 2, but still allows practice). Good luck! You're not the only one taking the punches!!
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