http://www.sec.gov/Archives/edgar/data/1329365/000094787115000857/ss465505_sc13d.htm

I feel for you man but just remember that most successful traders blow up their first 1 or 2 accounts before figuring this thing out. I hope you decide to stick with it after all of your efforts and after the valuable lessons you've learned. Just think about how much encouragement you can provide to someone a few years down the road when you're a success and they're in the same position that you're in right now. I wish you the best no matter what you decide to do.

Be careful with margin in general. It's like you have a credit card and you leave it unattended in a shopping mall accidentally. Before you even realize you're without it, you could possibly be down 5-10 thousand from some lucky asshole who took advantage of it. In hindsight, protect your credit with your life.

You see , all those thousand hours werent enough for learning, there is still much to learn , you never end up learning, thanks to this post I wont have to learn the lesson. ;) JUST MOVE ON MAN, Ive lost thousands in cars ive sold and ive learned and that reflects in my results , its normal man! :)

Very interesting !! Learned a nice bit from reading that. I am basically in the exact same boat as you!

Taming my emotions has been the nardest part of learning to trade. People will tell you "Don't trade with emotion" but some of us simply don't have a choice we're just wired that way. There's a book called Trading in the Zone by Mark Douglas that has been hugely helpful in helping me harness my emotional energy and use it for good. I still suck as a trader but I'm not the emotional mess I once was and my trading is improving.

@teentrader we are here to learn from each other :). I know by learning, learning and learning we will get out off this sinking boat, This boat were we're in now isn't the millionaire boat.

@todddunnigan Yes that is a great book I'm reading that book at the moment. After my first trade I knew directly I need to work on my emotions, gonne read that book a several time's to understand this totally. It sounds so easy, but we need to rewire our brains to profitable trader brains.

As the masters advise, try to keep all trades in a spreadsheet and enter your comments on each entry/exit and analyse them at the end of the day. Take a screenshot of the chart, write down the news etc., Enter your comments after the analysis too. This will help in your future trades.

Great advice. As always, opportunity favors the prepared. This is MANDATORY for trading. No options or exceptions.

Learn to accept your risk. You move your stop down only because you haven't accepted your risk. Otherwise you would have taken the loss and it would have been over. As you watch the price approach your stop, put your hands in your pocket and calmly accept that you are going to lose the risk exactly as you had planed. You can move your stop up to protect profits or even minimize loss, just never move it down. This is true even more for mental stops than hard stops.

@pennycapitalist you're right and I'm usually pretty good at respecting my risk. However, I failed to do so on one of my trades last week and that cost me.

I would say this book has helped me the most.. Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude Hardcover – January 1, 2001

I 100% agree with Trading in the Zone, outside of the stuff you get on this site it has been the best book I've found. It's all about getting your psycology right, not much technical stuff but it turned me around from losing most of the time to winning the majority of the time.

Thabks guys! I'll definitely check this out.

you should post your trades so everyone can learn.

Yeah similar situation. And I share the same views. You must fail in order to fully understand when you are succeeding.

I made the exact same mistake on my first trade, I was so over eager to get started that I screwed it royally. Good lesson though. Thanks for the post.

I have made several trades I still make plenty of mistakes. It is a constant learning experience. I am still trying to finish HTMM, on disc 8!

@todddunnigan I read it all, that dosnt answer my question

Try calculating your risk amount before you take the trade and reduce the size of the trade to a more comfortable amount

@MasiJunior OK, to paraphrase what I wrotein the post, I'm taking a short break from trading to work on something that has been a consistent problem for me. Sure it's only 15 trades, but I've run into the same problem on all 15 trades and I want to work on it before Itrade again. Is that weird or something?

No actually i admire that you recognized a Problem after after a short Periode of time & now you work it out. Let us know how your journes continues.

But even if you don't when they are let out for the day you are free to go. I spend more time watching Tim's videos than I do in class. Consistently. Every video-every second for that matter better prepares you to trade. It can be the difference between a profit and loss

So slow down, cut losses, STUDY STUDY STUDY, research stocks to practice applying the concepts learned from the videos, and, should a perfect pattern come along, trade safely. Good Luck!

I got overly excited when I started too. I decided to hold back study a bit more before getting back in the game. On my restart round is when I finally joined here. Being a lot more cautious now and only sticking to what are in my head perfect trades. Tim does warn us, how to make millions has about 2 hours of basically stamping in your head the fact that you will lose money when you start.

Thanks for all the support guys! I really do appreciate it.

Oh man do I feel your pain. I've been in the music biz for 35 years and i'm still making a living, doing really well by some people's standards, but the biz has gotten socreatively bankrupt that half the time I go home from gigs or sessions and cry myself to sleep with a shotgun in my mouth. Nobody pays for music anymore therefore no one values it

That's why we have Iggy Azalia, 5 Seconds of Summer, flavor of the week rappers, each one shittier than the last and Nickelback. I came to tradingwith the hopesof getting back to working on records that I like and are good rather than shitty ones that pay.It's been slow going, trading can be tough for right brain types but we can do this and make the world better through better artistic endeavors. I'm totally pulling for you.

Yes Todd! There is so much good to be done for the world through true creativity. The whole concept of appealing to the masses has gotten sickening! Stay strong bro, the world is too beautiful a place to leave it willingly!

Thx Palmer. While I have spent many hours with the DVDs and Video lessons, application of the knowledge is of utmost importance. I don't know why it is so difficult to stay disciplined, but I am confident I will the resolve.

Take some time off and get your confidence back paper trading, then give it am other shot! Keep at it. It's not easy but I believe with persistence it's possible!

A book that has helped me out a LOT is Trading in the Zone by Mark Douglas. It's all about getting ahold of your emotions and reducing some of the impusiveness that comes with trading. If you're more right-brained and sometimes all the tech-y stuff starts to blur together that book will really help.

Rally sells...I mean when the trend is down, stock rallys up a little and the rally...opposite of buying a dip.

I feel like I'm in between 'loss of money and confidence' and 'consolodation of skills'. I was not fortunate enough to have a 'beginners luck' phase. Monday I stayed out Tuesday I did OK, today I'm ready to say 'fuck it' to the whole enterprise. As for a trading plan, I feel like I've gone into most of my trades with a plan it's just that the stock didn't do what I thought it would. So far about 70% of the time it doesn't do what I thought it would. I haven't lost a ton or blown up my account, t

Thanks for the reminder to keep going

@todddunnigan I hear you man, we all in the same boat. Its all a mindset and failure is not an option ;)...some motivation to keep pushing...https://www.youtube.com/watch?v=6kxSrPD__BA

Awesome post!