Hi Guys,
how is everything hanging over here? Didn't notice that the US stock trading threads were getting active again.
Good to see that.
It looks like everyone is still rocking. Nobody having problems since the ISLD/BRUT/SIZE ECNs merged into NSDQ?
I have to say, my last half of 2005 until August 2006 have been better than I could have ever dreamed of. But since the ECNs merged my biggest edge just dissapeared. After I did Richard's Level II course I really started using Level II and found my own little edge in it together with what I learned from Richard. I could kinda see a buyer come in looking at the way the ECNs acted, and that was actually the only thing I based my trades on and it worked for over a year extremely succesfully. But then there's a time when you have to adapt to the market, which is right now for me. I had days where I traded way over a million shares. Right now a big day is when I trade 20,000 shares, I've gone from 5,000 - 100,000 shares to trading 100 - 500 shares in a position.
But nonetheless, I'm fighting back now. With a new strategy solely based on charts, I'm slowly becoming profitable again. But the reason I'm not rocking like I used to is because I totally lost my confidence in trading and my selfconfidence and I'm afraid to lose money. Because of this I'm exiting trades before my strategy tells me to get out. If I just waited until the strategy says to get out, I would make money consistently every day. But now I'm just getting out way to quick, so I'm not taking out of the trade what I'm supposed to, and because of this a few small losers scr*w me up for the day. So now I'm seeing a psychologist to help me out on this one.
I now understand why 95% of the newbies fail in this business and that's all because what's between the ears. LOL. Trading is the easiest thing in the world, but when you don't have the right mindset, it suddenly turns into the hardest thing in the world.
Well, good to see you all here on the boards and I'll try to join you guys again.
Trade safe and good luck,
Dave
The ScreenLocal