MrPraodfait

Something's about to change...

Received 1 Karma
CippoNK1K
1
CippoNK1K Apr 04, 22 6:50 PM

March in like a lion and out like a lamb! You inspired me to post my dismal March summary as well. Too painful to post individual trades. Cheers to a new quarter!

MrPraodfait
MrPraodfait Apr 04, 22 8:42 PM

You're killing it in 2022! That's so awesome! Perhaps March wasn't great for you but good job minimizing the losses

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MrPraodfait

Today I close my worst month ever. First red month since May 2019, broke a ton of rules, my timing was almost ALWAYS off by a minute, on longer term trades I was off by a day, I did not achieve my two main goals pertaining to risk management, and I allowed myself to be consumed mentally and emotionally. October will be different because I will be different. No matter how bad the market is, I will be master of myself. Because I must.

CippoNK1K
1
CippoNK1K Sep 30, 21 10:45 PM

I appreciate your honesty and as a new trader I also had my worst month as well. At least you’re aware of your challenges.. I’ve just lost all of my confidence. Tomorrow’s a new month! Wishing you the best!

MrPraodfait
MrPraodfait Oct 01, 21 7:37 AM

@CippoNK1K Thank you! But don't be discouraged. Your confidence shouldn't come from profits or from being right all the time, it should come from mastering yourself. Or as Brett Steenbarger would put it in The Daily Trading Coach: "Self-confidence is not cockiness, nor is it viewing the world through rose-colored glasses. It's a quiet sense of, "I've been here; I can handle this.""

MrPraodfait
MrPraodfait Oct 01, 21 7:38 AM

@CippoNK1K You've been though your worst month ever, and you're okay, what lessons are you taking away from it and how will it make you better?

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MrPraodfait

Broke my rules and failed to keep the goals I made for myself just last week. So I'm taking myself out today. No trades until tomorrow. Act like a child, get treated like a child

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MrPraodfait

Goal for September: To not have a single loss over $300, and to not let a single day's losses be over $1,000 in order to prevent my over trading and revenge trading from getting out of hand. If I plan on sizing up when the market gets hot again, I need to be master of my losses

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MrPraodfait

Well, it took me a little over 3 months to get back to my profit chart highs after my big loss in May. It hasn't been easy, especially with the slow summer market, but I've proven to myself that its not over yet. I'm still pushing to new highs despite my struggles and mistakes. And the lesson seared in my mind here is that I never want to risk a loss so big that it takes me months or even weeks to make it back. It feels like working to pay off a debt and it's pretty demoralizing. There's not much more I can say except I will try to do better from here on out. I've also now experienced what a slow market is like and I can say I understand the importance of not pushing it when it's not there. Onward and upward.

MagRofl
MagRofl Mar 30, 22 12:16 PM

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MrPraodfait

Yesterday was a terrible day for me. Being dead right on LWLG, giving it a chance time and time again, and still getting screwed over and missing out on the perfect pattern. Then revenge trading and taking another big loss. Today I'm back to the drawing board and starting small cause there are things I have to fix

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Received 4 Karmas
EmilyMorris
EmilyMorris Jul 31, 21 12:35 PM

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RichardKnox
RichardKnox Dec 21, 21 4:16 AM

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SantosLietz
SantosLietz Apr 01, 22 1:56 PM

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MrPraodfait

Well today was incredibly frustrating. Cut 3 trades right before each of them went supernova. Could have been a record breaking day for me with 16K+ in profits had I stayed patient just a few more minutes, but I'll have to be grateful for the $1,860 that I locked in. My concept of money is so distorted now...

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