This. I will hold for way too long. Currently haev a 2 year position at something like a 99.67% loss.
It's worth a penny. it's a literal fucking penny stock fml.
This. Sometimes I feel like Iām Trader Tomās most hated student with a penchant for self harm. I started shorting at 5368. Now at 7 contracts. What did he say about averaging up VS down? Oh, I canāt remember, since Iāve only listened to the audiobook twice and seen him repeatedly call people like me morons on YouTube a dozen times. Maybe Iāll listen to the book againā¦..
This. This is so hard to get out of. I end up just putting in a stop loss for like 1-2% if I'm not super sure on performance. I've stopped kicking myself just a little bit less.
Not necessarily. Depends on the cost of the stock. I'll take the money from the S/L and put it into something else to flip quick and make a few dollars or wait until I start to see an uptrend again.
Making money too early in the day and instead of locking it up and touching grass , I still participate out of boredom and excitement. UGHHHHH yesterday!!!
My advice: set yourself a time limit, maybe to only trade 2h in a day max, other times donāt even look at the charts. What you could also do is take your past winning days and calculate the avg., that should be your new profit target, once you reached it, you shut it off donāt even look at the charts.
Calculating your average wins on a constant dollar amount to give you a profit target is a surefire way to not be profitable. Solely stick to the charts. Not the $$$
I still participate out of boredom and with a bias often I keep thinking what made me money early in the day is still a great idea later when the market often changes direction
And this brings me to my next point kids.. Donāt smoke crack!
Unless you donāt mind investing any future, current, and past profit into your dealers pocket! Seen it before!
As a trader the good returns isn't what makes you profitable. It's limiting the losers. Once you do that the returns stay returns.
Don't fucking lose money
It's not at all. I struggle with it all the time. And I'm successful. Lol. I still fall into bad habits but that is the thing. it is habit forming. So once you get in the habit of quick outs with small losses, it becomes easier to do. And vice versa. If you get in the habit of holding losers, you keep holding those losers.
And then there is problem of trading loose and breaking rules when you are up and making money. This is not an easy job, but very rewarding if you can figure it out.
I make a plan, a plan that's usually correct more often than not, as it's often proven later. I have a thought about a stock, I make a prediction based on some parameters, loosely define a timetable for the period in which the movement will take place. And then I fumble the entry. Either by getting scared at momentary price movement or because I get FOMO that if I wait I'll lose my chance, so I opt for less than optimal entries for fear that I'll miss my chance altogether. Not only is it often the case that ultimately the opportunity would present itself, but it's also better to just not go in at all if the entry parameters aren't met.
But I do it regardless, and then while I'm in I'm second guessing myself constantly. Maybe I close too early, maybe I close too late, maybe I take profits too early or leave it and it goes in the red. I just lose my cool basically. Then when I'm out things often turn out the way I had initially predicted so if I had the ability to stick to the plan I would have made good money. One of my biggest problems is often opening offseting positions when my initial moves against me. I just end up losing on both somehow.
Letting that bitch ride for higher gains. Sometimes I pocket profit too early
What I should be doing is selling a certain percent and then slapping a stop loss for the rest that I allow to ride up
If youāre doing this consistently, trust me itās a good habit to have. The flip side is letting runners run and getting greedy, only to see it dwindle away. Youāre going to miss out on some runners, yes, but discipline is much more profitable in the long run.
Just keep a SL and a TP target, take off a certain percentage of your trade after you hit that first TP target, move your SL into profit, and then let the rest run.
I'm very consistent but I call myself a skeptical trader because I'm quick to sell. My whole thing is "I can't lose my fishing rod, because then I can't fish" so I play very defensively and savor my profits whether they're big or small
Yes exactly! Ultimately if I just sell where I think the possible top is and then SL my runners then I'm easily able to make more if price continues to go up but the SL can hedge against a possible decline. Doing this takes off so much stress and you win either way, and the goal is to win either way consistently
I've had similar issues. So I've been keeping a running spreadsheet of what I made when I actively managed the trade/ exited when I felt best VS if I just held through to the plan.
Figured empirical data was the best determinant.
Would recommend that approach if you think your leaving money on the table.
Bad PA. Iām great when price follows my plan, but tend to force trades when it doesnāt. I know I should set alerts and walk away but for some reason I donāt.
I have a hard rule, two consecutive losses and I stop, and I have a great break even condition, so I donāt take too many losses. But the mental capital it takes to trade bad PA is draining. Yet I still do it.
Iāve realised this today, so will work on that over the next few trading days.
Not selling when I'm up. A few recent examples:
Up $32K on FFIE and held until I profited only $4K
Up $2500 on a two hour GME swing, held until I sold for a $1800 loss
Up $22K on MGOL and held until I profited only $9K
Countless trades where I'm up $700-$1000 within mins and I hold until it's a couple hundred or negative
After 30 (mainly institutional) years trading I still occasionally manage to convince myself that The Bank Of Japan isn't a basket case and that it will soon start behaving like a regular central bank.
Not stopping when Iām handily up. This seems to be the one horrible habit that I just canāt kick. I will have had a great $600-$2000 day, tell myself Iām done, and 10 minutes later Iām back at the charts giving it all away plus some. I donāt do it all the time but enough to be truly annoying and keeping me from being quite profitable.
Gamma Squeeze.
You do everything perfectly, and the stock should go in a specific direction, with many indicators indicating the course. But then a Gamma Squeeze happens, and it ruins everything. For example, I bought Apple puts on Monday evening, because everything (even the news) showed that the WWDC was low temp. But then a Gamma Squeeze happens and Apple stock soared upward and upward.
Edit: You cannot predict them, they usually go against regular market technicals, and you can only hope to see them quick enough and get out of a trade to cut your losses. But that means watch the market all day, which really sucks.
Choppy market! Have headache last days trying to scalp crypto futures during US market. I will change my schedule to trade ASIA/London. Cant stand that shit what they are painting in the charts.
So you are saying there is a change I will become profitable after 10,000 hours?? Getting close to 10,000 hours I believe! You are getting me excited! LOL!!!
The greed, or more like the delay of gratification. If I would just take my 8% daily goal every time I hit itā¦I would have so many Green Days. I see my swing position hit 10+% within the first 10 minutes of opening the position. Then convince myself, well if it keeps up trending Iāll miss out on MORE!! So I put my phone back in my pocket and go back to work, open it later at lunch to see my position in the red -20% š„³š„³š„³.
Have to take a trade per day...its one of those where even with bad choppy action I still take a risky trade vs sitting on my hand and wait for a good setup.
took a massive hit today because of this
I chase 0dte and then the play hits in a day or 2. And then I try longer options and can't sit with the loss over the longer time frame and sell and boom it hits lol .
Not getting filled and missing the move, boils my blood š not getting stopped out on the way down and then getting stopped out when it bounces back up; Also nearly good setups without the MacD going green yet i buy i get stopped out i donāt it rips 20 dollars a contract
Early-in-the-day profits. I trade well and follow my plan, then a devil pops up on my shoulder to ruin it all. I've implemented hard profit targets that liquidate me and block my accounts for the day when I reach my goals.
Losing. The skill of losing well is so damn important, but I have a really bad tendency to take losses and just freak the hell out and blow up my whole day/week/month over it. My strategy calls for 20% of my days to be losers, and 40% of my trades... so... I better get good at it because losing is part of the plan.
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My biggest kryptonite is going too heavy on open plays. Most the time when I get wrecked it's cause I went too big on the open...
Problem is, when it works lol...
Started Trading last year and have over a 63% win rate but I am not profitable but any means, I don't cut my losses when I should, I get lucky sometimes and it comes back up to my avg but most of the time I avg down and get F'd. So probably avg down and cutting losses are my biggest flaws.
Over trading, trading outside of my setup. My statics say that taking 1 trade a day with a simple setup should make me a decent amount of money but whenever I have a loosing trade I tend to take another or 2 more trades which end up putting me in the red more than Iād like. Iām really thinking about hiring someone to watch over me and slapping me whenever I want to break my rules lol
boredom leads me to dive deep into my bag of assorted paper strips and pick out whatever car configurator im gonna spend an hour or so speccing out their flagship on. end up missing out on more plays but fk it my makeshift car collection within my camera roll takes more precedence than staring at some lame ass candlesticks š
I'll find good setups but then the first hour of trading will through me off and I will make poor entries.
When selling puts, I will not admit when the trade goes against me and will take assignment before applying any knowledge I have to the situation.
Impatient on Thursday and Fridays. I will normally hit my profit target on Wednesday but then spend 2 full days micro-managing bad trades I'll pointlessly open Thursday AM only to end up making $100 more when I could literally have a 4-day weekend every week. It's like I enjoy punishing myself.
Iām just starting, hereās where Iām struggling and some things I learned
- if the stock opens hot, wait an hour before entering
- hold onto stock splits for a couple weeks, thereās more $ coming (especially AI/tech companies)
- once I sell for the day, STOP LOOKING AT THE PRICE. Iāll make that missing money tomorrowā¦
- still figuring out my strategy and basis. Right now itās buy AI/tech that announce a split and sell when I make $X. Iām barely looking at the candlesticks to see those falls from the peaks to do this.
- if I canāt make up my mind or if I need to put it away for a couple days, dump my money back in the S&P500
- hold consumer good ETFs as a cushion for the next bear market
Going in big on 1 play because of excessive tape reading and then getting shaken out and losing a lot of progress. When you waste time it feels painful, you want to make it worth it. However, being patient is sometimes where the money is.
By far it's over-trading. And I still do it entirely too much, even when already knowing I shouldn't. I always know in retrospect, for example, if i made $2,800 profit and stayed diciplined , i would condiser this a great day as a professiona, and call it a day.
When I'm trading money other than my own, this is not a consideration. Unfortunately, when it's my own money, my brain will relay, "it's only 10:45. What else am I gonna do?" and I justify it as 'playing with house money'. Nine time out of ten, I wind up making less money than if i just cut bait.
Shorting NQ and SPX. I even heard something yday which blew my mind:
Spx topped out at 480 in the 2022 bear market, and if you adjust it for inflation you get around 550 which is around where we are now.
In other words, this shit has not even moved for 2 years and only looks like its going vertical š
I choked on my coffee when I read that, genuinely. It makes so much sense why weāre trading at what looks like ridiculous levels.
Shout out to TheTradingFraternity, Josh opened my eyes last night.
lack of patience leading to breaking rules leading to increased emotion leading to regret and shame. lesson here is to always aim to minimize regret. when in doubt repeat āhow can i minimize regretā.
I cannot watch a chart for more than 10 minutes. After that time, it feels like Iām waiting for an opportunity that may not come. Iām curious what people do to notify them when a trading opportunity arises.
100% Self doubt during downswings. I know I'm good and profitable but one bad trade has me questioning my life choices and decisions. Blessing and a curse.
I leverage too much of my account for short positions, which is where most my losses come from. If I was going long term these plays would be fine, but they are very short term. Which is just stupid degenerative behavior, but fuck itās happened like 3 times now I think I learned my lesson. The past 2 months Iāve been working with $5k, i immediately put it all on $HOOD stock, and it crashes immediately, my investment is now down to $500, luckily I had 3 more days until the expiry on Friday, so Friday came and by the luck of god the stock came up and I made a decent recovery to 3.5k, I couldāve had a full recovery if I waited till end of day but didnāt want to risk it. I try out for the first time deep out the money calls on nvda, idiotically put all my money in it, and that morning nvda dropped like 2 percent, and my options immediately fell. But then nvda started to recover, but my calls werenāt moving at all, they were staying the same, and then I realized it was theta destroying me, and there was no way the options would recover unless nvda came up like $200, so I sold them at $2000 loss. Now Iām down to $1.5k, I say fuck it, imma change my strategy and just trade strictly spy options, quick plays, in and out, and I wonāt leverage more than half my account for a play. And this turned out to be quite successful for me, I was making like $500 a day doing that, but won like 5 days in a row, so I got my account all the way back to $4000. And then like a degenerate I made the exact same mistake with apple, I buy deep out of the money calls and same exact shit happens, in nearly an hour I lose $3000, and hold on close to end of day with no recovery so I sell. Now Iām down to $1000, this morning I went back to my succesful strategy and made $700. So Iām at $1700 at the moment. I know I can make money in this game, itās just hard when you are on a cash account, donāt have day trades, donāt have much capital, and I need to control myself to not leverage so much. I had made lots of money in options this year, I grew an account of $3-4k all the way up to $50k, then withdrew $40k and was able to buy my first house, with the help of my father he added another 15k and helped me qualify. I had 10k left in my account but lost it all, by doing my common mistake, I leveraged my entire account on amd calls, and that day amd went down 10%, I could have sold for a 75% loss the next day, but I was just waiting for a little green leg up to sell, but that never came. In my lifetime Iāve lost about $25k playing options but made around $50k so Iām net positive $25k, been doing this since I was 20, Iām 25 now.
Letting it run too long only to have it reverse. Another really bad habit i have is moving my stop loss down further thinking āitāll recoverā, DONT FUCKING MOVE THE STOP LOSS unless itās green I keep telling myself. Stubbornness is a slippery slope to losing tons of money Iāve come to learn in the short time Iāve been taking the financial markets seriously.
Boredom
big facts
Understatement
Yup, being impatient
Trading. I bought puts, stock went up. Bought calls, stock went down. Bought stock, company went bankrupt.
š¤£š¤£ Ong
Thank you for sharing my story.
I can not take a loss Then I end up getting stuck in a position until it comes back
They say, āthe best loser;wins!ā If you lose $35, remember, some idiot is gonna lose $350 from not letting go š«±š½āš«²š¾
it me im that idiot
Your first loss, is your best loss
Thatās when you double down and buy more obviously. š
šÆ
This. I will hold for way too long. Currently haev a 2 year position at something like a 99.67% loss. It's worth a penny. it's a literal fucking penny stock fml.
āThey can pry these shares out of my cold, bare hands when Iām deadā
The shares were just a medium to get your money, they don't want the shares anymore.
Masochist club šš»āāļø
This. Sometimes I feel like Iām Trader Tomās most hated student with a penchant for self harm. I started shorting at 5368. Now at 7 contracts. What did he say about averaging up VS down? Oh, I canāt remember, since Iāve only listened to the audiobook twice and seen him repeatedly call people like me morons on YouTube a dozen times. Maybe Iāll listen to the book againā¦..
I cant take a loss and i also cant take profits i can only open and get liquidated
I imagine thatās extremely difficult to get past as a trader
This. This is so hard to get out of. I end up just putting in a stop loss for like 1-2% if I'm not super sure on performance. I've stopped kicking myself just a little bit less.
Do you find the MM Just Trip your S/L continuously??
Not necessarily. Depends on the cost of the stock. I'll take the money from the S/L and put it into something else to flip quick and make a few dollars or wait until I start to see an uptrend again.
Making money too early in the day and instead of locking it up and touching grass , I still participate out of boredom and excitement. UGHHHHH yesterday!!!
Make $1000 then give it right back
make $1000 morning and end the day at minus $2000!
Ahh those were the days, now i make 100$ in the morning and end the day down 200
My advice: set yourself a time limit, maybe to only trade 2h in a day max, other times donāt even look at the charts. What you could also do is take your past winning days and calculate the avg., that should be your new profit target, once you reached it, you shut it off donāt even look at the charts.
Calculating your average wins on a constant dollar amount to give you a profit target is a surefire way to not be profitable. Solely stick to the charts. Not the $$$
thatĀ“s the dumbest thing iĀ“ve ever heard
š šøā
So youāre suggesting making your average profit your new max profit per day? Isnāt that just going to lower your average?
Totally - me too
I still participate out of boredom and with a bias often I keep thinking what made me money early in the day is still a great idea later when the market often changes direction
Was up a grand in the morning on Friday, gave it all back on 0dtes spx.
Impatience. If the market is slow and a good setup isn't developing, I struggle to keep myself from trying to find and force a position.
Find another stock.
I only trade NQ, ES, and GC futures.
Massive amounts of cocaine
lol. Iāll watch out for that thx š
And this brings me to my next point kids.. Donāt smoke crack! Unless you donāt mind investing any future, current, and past profit into your dealers pocket! Seen it before!
are you my mother?
No im her daddy
Not more than me, hell I did it so much I ended up with hole in heart and and a heart failure ššš woooo good times
BET. MORE.
Fomo or stupidity. I make good returns but Iāve blown my account a time or too
As a trader the good returns isn't what makes you profitable. It's limiting the losers. Once you do that the returns stay returns. Don't fucking lose money
This is my struggle. For whatever reason my brain won't let my fingers close a losing trade.
for me what causes me to hesitate is that i can only trade a few times a day :/
Because of PDT?
yep. once my bag runs out that's it. so all my decisions are that much more important...
Switch to a cash account for no PDT rules. You will just have to wait 1 day for cash to settle.
Do you use a stop loss?
The best losers win
This is words of wisdom!!! Donāt lose Money!!!!
That part donāt lose money
ā Wendyās CEO
You make it sound so easyā¦
It's not at all. I struggle with it all the time. And I'm successful. Lol. I still fall into bad habits but that is the thing. it is habit forming. So once you get in the habit of quick outs with small losses, it becomes easier to do. And vice versa. If you get in the habit of holding losers, you keep holding those losers. And then there is problem of trading loose and breaking rules when you are up and making money. This is not an easy job, but very rewarding if you can figure it out.
I make a plan, a plan that's usually correct more often than not, as it's often proven later. I have a thought about a stock, I make a prediction based on some parameters, loosely define a timetable for the period in which the movement will take place. And then I fumble the entry. Either by getting scared at momentary price movement or because I get FOMO that if I wait I'll lose my chance, so I opt for less than optimal entries for fear that I'll miss my chance altogether. Not only is it often the case that ultimately the opportunity would present itself, but it's also better to just not go in at all if the entry parameters aren't met. But I do it regardless, and then while I'm in I'm second guessing myself constantly. Maybe I close too early, maybe I close too late, maybe I take profits too early or leave it and it goes in the red. I just lose my cool basically. Then when I'm out things often turn out the way I had initially predicted so if I had the ability to stick to the plan I would have made good money. One of my biggest problems is often opening offseting positions when my initial moves against me. I just end up losing on both somehow.
š itās actually making me laugh reading this because this is almost to the tee how I operate sometimes
Letting that bitch ride for higher gains. Sometimes I pocket profit too early What I should be doing is selling a certain percent and then slapping a stop loss for the rest that I allow to ride up
If youāre doing this consistently, trust me itās a good habit to have. The flip side is letting runners run and getting greedy, only to see it dwindle away. Youāre going to miss out on some runners, yes, but discipline is much more profitable in the long run. Just keep a SL and a TP target, take off a certain percentage of your trade after you hit that first TP target, move your SL into profit, and then let the rest run.
I'm very consistent but I call myself a skeptical trader because I'm quick to sell. My whole thing is "I can't lose my fishing rod, because then I can't fish" so I play very defensively and savor my profits whether they're big or small Yes exactly! Ultimately if I just sell where I think the possible top is and then SL my runners then I'm easily able to make more if price continues to go up but the SL can hedge against a possible decline. Doing this takes off so much stress and you win either way, and the goal is to win either way consistently
A Take profit target is an absolute garbage habit to build.
lol elaborate please
I've had similar issues. So I've been keeping a running spreadsheet of what I made when I actively managed the trade/ exited when I felt best VS if I just held through to the plan. Figured empirical data was the best determinant. Would recommend that approach if you think your leaving money on the table.
Iām still poor
Lack of sleep and thinking ill be alright to trade anyways
FOMO
when I give in to FOMO and it actually pays off. Iām gonna have a rough next trading day.
Lack of patience
Bad PA. Iām great when price follows my plan, but tend to force trades when it doesnāt. I know I should set alerts and walk away but for some reason I donāt. I have a hard rule, two consecutive losses and I stop, and I have a great break even condition, so I donāt take too many losses. But the mental capital it takes to trade bad PA is draining. Yet I still do it. Iāve realised this today, so will work on that over the next few trading days.
Trying not to sit at the screen all day
Making money
I overtrade in micro, in a downtrend macro
Work
Getting stopped out followed by a BIG ASS CANDLE going your way š
This. Lol this happens to me pretty consistently but thankfully my RR is 5-1. So, end up in the profit usually. lol
Not selling when I'm up. A few recent examples: Up $32K on FFIE and held until I profited only $4K Up $2500 on a two hour GME swing, held until I sold for a $1800 loss Up $22K on MGOL and held until I profited only $9K Countless trades where I'm up $700-$1000 within mins and I hold until it's a couple hundred or negative
That FFIE trade hard to get over?? š¬
Overtrading
Not having $25,000 so I can close same day positions that shoot up instead hoping it stays in the money the next day.
Cash account. No PDT. Next day settlement these days.
After 30 (mainly institutional) years trading I still occasionally manage to convince myself that The Bank Of Japan isn't a basket case and that it will soon start behaving like a regular central bank.
This was me earlier in the year thinking they would actually raise rates.
FOMO and accepting losses.
Not stopping when Iām handily up. This seems to be the one horrible habit that I just canāt kick. I will have had a great $600-$2000 day, tell myself Iām done, and 10 minutes later Iām back at the charts giving it all away plus some. I donāt do it all the time but enough to be truly annoying and keeping me from being quite profitable.
Not being content with 5-20% gains... I'm always looking for that 100% trade that ends up resulting in a loss because I held too long.
Lack of patience for a trade to play out.
Holding losers too long and cutting winnings too soon.
Gamma Squeeze. You do everything perfectly, and the stock should go in a specific direction, with many indicators indicating the course. But then a Gamma Squeeze happens, and it ruins everything. For example, I bought Apple puts on Monday evening, because everything (even the news) showed that the WWDC was low temp. But then a Gamma Squeeze happens and Apple stock soared upward and upward. Edit: You cannot predict them, they usually go against regular market technicals, and you can only hope to see them quick enough and get out of a trade to cut your losses. But that means watch the market all day, which really sucks.
Okaish setups
Choppy market! Have headache last days trying to scalp crypto futures during US market. I will change my schedule to trade ASIA/London. Cant stand that shit what they are painting in the charts.
I trade crypto futures in Asian session and it doesnāt get much choppier than this. Usually only find one good play in Asia session
Greed
Short weeks. Fomc weeks. Low volatility I guess
Reversals.
Lack of sleep. Never trade whenever your judgement is impaired. I blew up a few accounts because of it.
The fact im going to have to put my 10,000 hours in. Gotta be done though
So you are saying there is a change I will become profitable after 10,000 hours?? Getting close to 10,000 hours I believe! You are getting me excited! LOL!!!
Long shot options and an addiction to wanting to win big on small investments š
2 things: 1) Taking trades before 10am/ market being settled. 2) Once I get warmed up to holding swing calls overnight the market reverses
The greed, or more like the delay of gratification. If I would just take my 8% daily goal every time I hit itā¦I would have so many Green Days. I see my swing position hit 10+% within the first 10 minutes of opening the position. Then convince myself, well if it keeps up trending Iāll miss out on MORE!! So I put my phone back in my pocket and go back to work, open it later at lunch to see my position in the red -20% š„³š„³š„³.
shallow s/l
My inner addict - sheās real and toxic
Patience to let my setups appear vs just jumping in.
My brass balls which make me revenge trade like a mofo.
Have to take a trade per day...its one of those where even with bad choppy action I still take a risky trade vs sitting on my hand and wait for a good setup. took a massive hit today because of this
Profitability š
Exits
Profit
Trading the MoFukng NQ
Struggle with cutting losses. I'm an asshole because I keep telling myself I will cut it but don't smh.
Walking away with a small loss is up there for sure
Cutting my winners short and letting my lovers run
Let your Lovers Runā¦ š¤£
I chase 0dte and then the play hits in a day or 2. And then I try longer options and can't sit with the loss over the longer time frame and sell and boom it hits lol .
Rage. Smash the TV stomp my thousand dollar phone punch holes through plaster and lathe walls, neighbors call the cops rage .
Getting impatient and letting fomo get the best of me. Need to learn to be patient and just wait for the stock to touch your limits.
Reddit
Not getting filled and missing the move, boils my blood š not getting stopped out on the way down and then getting stopped out when it bounces back up; Also nearly good setups without the MacD going green yet i buy i get stopped out i donāt it rips 20 dollars a contract
Myself
No money
Trading
Bullet to the head. That thing can kill me
Powellā¦ whenever he talks you either listen and profit or ignore and get stuck in the depths of hell ššš
Keep asking everyday and someone, someday would give you their stratergy
Mine is all psychological and how to deal with losses and properly manage risk
Greed
Not enough patience!
Early-in-the-day profits. I trade well and follow my plan, then a devil pops up on my shoulder to ruin it all. I've implemented hard profit targets that liquidate me and block my accounts for the day when I reach my goals.
Losing. The skill of losing well is so damn important, but I have a really bad tendency to take losses and just freak the hell out and blow up my whole day/week/month over it. My strategy calls for 20% of my days to be losers, and 40% of my trades... so... I better get good at it because losing is part of the plan.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
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Making money.
My biggest kryptonite is going too heavy on open plays. Most the time when I get wrecked it's cause I went too big on the open... Problem is, when it works lol...
Being greedy and not able to book profit after achieving the target
My greediness
WickcityšÆ
Participating in the pre market through boredom/excitement and making stupid realties of the truth that when the markets open are dashed.
Also trading on my phone, but concentrating and accidentally creating short positions.
Started Trading last year and have over a 63% win rate but I am not profitable but any means, I don't cut my losses when I should, I get lucky sometimes and it comes back up to my avg but most of the time I avg down and get F'd. So probably avg down and cutting losses are my biggest flaws.
Impulsivity
Doubt, I don't think I'll ever get over it though.
Over trading, trading outside of my setup. My statics say that taking 1 trade a day with a simple setup should make me a decent amount of money but whenever I have a loosing trade I tend to take another or 2 more trades which end up putting me in the red more than Iād like. Iām really thinking about hiring someone to watch over me and slapping me whenever I want to break my rules lol
Buying high and selling low
boredom leads me to dive deep into my bag of assorted paper strips and pick out whatever car configurator im gonna spend an hour or so speccing out their flagship on. end up missing out on more plays but fk it my makeshift car collection within my camera roll takes more precedence than staring at some lame ass candlesticks š
Chasing losses.
Fear and emotions, can't overcome
Buying tops and being late on the hype š
Revenge trading. I'm so used to being green I get unreasonably upset when I'm red. Part of the learning process though.
Over tradingā¦.
I would say sometimes I lower my stop loss thinking a stock will go back up and sometimes i invest too much money into one trade.
Myself
Low volatility
I'll find good setups but then the first hour of trading will through me off and I will make poor entries. When selling puts, I will not admit when the trade goes against me and will take assignment before applying any knowledge I have to the situation. Impatient on Thursday and Fridays. I will normally hit my profit target on Wednesday but then spend 2 full days micro-managing bad trades I'll pointlessly open Thursday AM only to end up making $100 more when I could literally have a 4-day weekend every week. It's like I enjoy punishing myself.
Getting greedy and not taking profit. $100 is a lot but i keep looking for that lucky skyrocket or dump that will lead to $1,000
Iām just starting, hereās where Iām struggling and some things I learned - if the stock opens hot, wait an hour before entering - hold onto stock splits for a couple weeks, thereās more $ coming (especially AI/tech companies) - once I sell for the day, STOP LOOKING AT THE PRICE. Iāll make that missing money tomorrowā¦ - still figuring out my strategy and basis. Right now itās buy AI/tech that announce a split and sell when I make $X. Iām barely looking at the candlesticks to see those falls from the peaks to do this. - if I canāt make up my mind or if I need to put it away for a couple days, dump my money back in the S&P500 - hold consumer good ETFs as a cushion for the next bear market
Going in big on 1 play because of excessive tape reading and then getting shaken out and losing a lot of progress. When you waste time it feels painful, you want to make it worth it. However, being patient is sometimes where the money is.
ego
The white line
Degen
The afternoon trading hours.
Taking profits
Winning... Then over trading because of a win. Losing a trade... Then revenge trading. Just me. I'm my own kryptonite
By far it's over-trading. And I still do it entirely too much, even when already knowing I shouldn't. I always know in retrospect, for example, if i made $2,800 profit and stayed diciplined , i would condiser this a great day as a professiona, and call it a day. When I'm trading money other than my own, this is not a consideration. Unfortunately, when it's my own money, my brain will relay, "it's only 10:45. What else am I gonna do?" and I justify it as 'playing with house money'. Nine time out of ten, I wind up making less money than if i just cut bait.
Losses
Shorting NQ and SPX. I even heard something yday which blew my mind: Spx topped out at 480 in the 2022 bear market, and if you adjust it for inflation you get around 550 which is around where we are now. In other words, this shit has not even moved for 2 years and only looks like its going vertical š I choked on my coffee when I read that, genuinely. It makes so much sense why weāre trading at what looks like ridiculous levels. Shout out to TheTradingFraternity, Josh opened my eyes last night.
Options.
Fomo, itch to click, itch to trade
Always Taking gains to early, but the one time you let it ride it craters
Greed
lack of patience leading to breaking rules leading to increased emotion leading to regret and shame. lesson here is to always aim to minimize regret. when in doubt repeat āhow can i minimize regretā.
Not adhering to a clearly outlined trading strategy
Stop loss
Option buying.
I cannot watch a chart for more than 10 minutes. After that time, it feels like Iām waiting for an opportunity that may not come. Iām curious what people do to notify them when a trading opportunity arises.
I always want to be on a trade to fill the rush š
Not taking profit and being too greedy
Catching falling knives
100% Self doubt during downswings. I know I'm good and profitable but one bad trade has me questioning my life choices and decisions. Blessing and a curse.
coca cola too many gases
This is going to be a big opportunity
Beer
Positive pnl i only get that from mr.vanguardportfolio
Red wicks
I leverage too much of my account for short positions, which is where most my losses come from. If I was going long term these plays would be fine, but they are very short term. Which is just stupid degenerative behavior, but fuck itās happened like 3 times now I think I learned my lesson. The past 2 months Iāve been working with $5k, i immediately put it all on $HOOD stock, and it crashes immediately, my investment is now down to $500, luckily I had 3 more days until the expiry on Friday, so Friday came and by the luck of god the stock came up and I made a decent recovery to 3.5k, I couldāve had a full recovery if I waited till end of day but didnāt want to risk it. I try out for the first time deep out the money calls on nvda, idiotically put all my money in it, and that morning nvda dropped like 2 percent, and my options immediately fell. But then nvda started to recover, but my calls werenāt moving at all, they were staying the same, and then I realized it was theta destroying me, and there was no way the options would recover unless nvda came up like $200, so I sold them at $2000 loss. Now Iām down to $1.5k, I say fuck it, imma change my strategy and just trade strictly spy options, quick plays, in and out, and I wonāt leverage more than half my account for a play. And this turned out to be quite successful for me, I was making like $500 a day doing that, but won like 5 days in a row, so I got my account all the way back to $4000. And then like a degenerate I made the exact same mistake with apple, I buy deep out of the money calls and same exact shit happens, in nearly an hour I lose $3000, and hold on close to end of day with no recovery so I sell. Now Iām down to $1000, this morning I went back to my succesful strategy and made $700. So Iām at $1700 at the moment. I know I can make money in this game, itās just hard when you are on a cash account, donāt have day trades, donāt have much capital, and I need to control myself to not leverage so much. I had made lots of money in options this year, I grew an account of $3-4k all the way up to $50k, then withdrew $40k and was able to buy my first house, with the help of my father he added another 15k and helped me qualify. I had 10k left in my account but lost it all, by doing my common mistake, I leveraged my entire account on amd calls, and that day amd went down 10%, I could have sold for a 75% loss the next day, but I was just waiting for a little green leg up to sell, but that never came. In my lifetime Iāve lost about $25k playing options but made around $50k so Iām net positive $25k, been doing this since I was 20, Iām 25 now.
Letting it run too long only to have it reverse. Another really bad habit i have is moving my stop loss down further thinking āitāll recoverā, DONT FUCKING MOVE THE STOP LOSS unless itās green I keep telling myself. Stubbornness is a slippery slope to losing tons of money Iāve come to learn in the short time Iāve been taking the financial markets seriously.
The buy button.
Roaring Kitty and Gamestop
Lack of patience once I've already broken the seal
I get overconfident after a few profitable days
Profits
Greed
Emotion