Ultramarine
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My sympathies Glen - but it's nice to have company
I've contrived to turn a profit of $1000 into a loss of $400 over the last couple of days. I've got to the point that when I see a MACCI looking OB I assume it is just going on and on upwards, regardless. Gives me a bit of a problem if I'm trying to get back into the market!. Seems like my stock selection is crap - (no - strike out "seems like") - none of them realise that they're supposed to be weak.Al
My sympathies Glen - but it's nice to have company
Al
hi ultra, good to here from you,
I must stress that my trades are paper only. i will continue this walk forward test until one of three things happen;
1. it doesn't work for me
2. it does work for me, then i'll trade it live
3. i die along the way
cheers
Glen
running total = $657
I will join you - I shorted 4 "weak" stocks early yesterday that are showing a loss at present of $1300. My "paper" unfortunately has George Washington's head printed on it ! Hey - they are part of my long-term portfolio so no worries. For the record they are ANV, ARII, MENT and NCS.My sympathies Glen - but it's nice to have company
Al
PS - the loss was about 1500 a couple of hours ago and it is reduced to almost 1,200 since I started writing, so it's going in the right direction
Charlton
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sorry to hear of your losses,
it would seem alot rides on the market direction call being correct
Glen
Glen
Thanks -but I am not concerned - because I don't think the call is incorrect over the longer term. They are weak stocks (chosen from Grey1's weak list) and since the previous post the loss is down to about 1020, so these were not chosen for intraday trading.
Correction - since the previous sentence loss down to 878.
It's a matter of patience.
Charlton
this sounds fair enough, if your a trader with enough $$ to hold out.
but for now. i am glad i'm still paper.
because i'm sure if i just started out trading real money and gained a 10% draw down on account size, i would be crapping myself by now..
i need to gain confidence first
Glen
Glen
You may have been told about this book already, but it's worth reading "Trading in the Zone" by Mark Douglas. It deals with the psychological aspects of trading and in particular acceptance of risk, but this does not mean taking unnecessary risks. You are right using paper-trading until you feel comfortable, but be ready to experience a completely different emotional response when it is live. This book may help you prepare for it.
Charlton
yes, I've seen this book recommend a few times on this BB, havn't read it yet. Do you think it has helped you become a successful trader.
I've traded live before, so therefore have understanding of some of the emotional responses involved. i guess my trading live experinces are why i test a systems out first before trading live
cheers
glen
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Running total make a come back = $989
Hi Glen,
I know that you are just running a paper swing portfolio and are posting here to update on its progress, but, just to re-iterate that Iraj says that on swing down days, we must try to daytrade.
For the record I remain short, it has been very tough these last past 4 days with the market north of 500pts. I would be lying were I to say anything other, and so my swings are suffering. The thought of closing (or at least scaling) has entered my mind, more than once. However, I am still 100% short.
Frank.
