The Official Kicking Myself Thread
For whining losers of the trading game-- of course due to the failures of our genius, body functions, family, and social calls-- I start a thread with the approval of Billy: The Official Kicking Myself Thread.
I'll kick myself first and good! With a quote from a letter I wrote to Billy:
[I][B]dumb question [/B]
Hi Billy,
The trade in IWM/TNA has been amazingly profitiable. I am frustrated to no end, however. I managed to find a very good entry in TNA on Wednesday the 29th. I put 1/3 of my available risk capital into the trade and managed to see it grow quickly in 4 hours. But because I was called to the funeral of my aunt and fearing the anxiety I might experince away from my trading desk, I closed my position at 80 USD even. I missed a major move to 85 on Thursday and Friday. Yesterday and today, I could not achieve a good entry point, so I was left to watch TNA accrue more value.
This is, of course, a dumb, beginner condition. I continually tell myself that trends come and trends go and that I will act appropriately when the next big move comes along. But as a rookie, I have mismanaged a magnificant opportunity. Few will understand this failure, except those privy to the workings of the robot.
... Do you think I should start a thread called: The Kicking Oneself Thread, where EV members can express their frustrations at their failings?
...
[/I]
So please kick away. Share your humiliation. And Laugh.
There are other places for trading ideas
With all due respect, my point is simply: provide a forum to fulminate about mistakes such as my current one that has cost me 11.56 points, i.e., a possible 5% gain to my entire portfolio if I'd simply kept my position. I don't even want to consider the potential gain had I gone all in on the strong buy. Pain.
Mistakes ... Not me [lol]
Nickola
I don't know if this thread will be successful because most traders are a special breed of people that is generally
-1- on their own planet
-2- very focussed on the objective
-3- and aware that they will make stupid mistakes from time to time
I have done this profesiionnaly for 30 years and on my own for 7 years now and I have trained myself not to "ventilate" on decisions I make (or made) based on external life factors. They just happen.
BTW, I think the word trader is over used. I consider myself a "surfer" who rides the waves. That's all we can do because that's all the market will give us over longer periods of time
Pierre