Shorted the uptrend the entire god damn day :)
-I thought that since we are still bearish in context and that we failed at this lower low from 4 days ago that we would continue lower after consuming this large data candle. I shorted the whole way up and im not even sure how its humanly possible to lose 200 dollars with only 1 contract per trade but thats what i did. That means that I lost 40 points on the day. That is equavilent to 4 points on the spy. I really truly have no clue how that is even possible given that the entire range on the day of these small spikes and pops were only like 10 points MAX. I truly am at a loss for words and I really dont know how to stop this behavior besides just taking all of my money out of my accounts and doing something else with my time. I study every day, I do everything I am "supposed" to do, I work harder than anyone I know, I try to play with my strengths of "deep thinking", I review even on shitty day, and I STILL cannot find any type of consistency in this market whatsoever. I mean it is laughable how inconsistent I am and terrible. I really do think that someone with mental illness could randomly take trades and do much better than me so what the fuck am I doing that is causing performance this inexcusable? I study so fucking much and the more I study the more I feel like im learning fucking less. Im not sure how that is even possible. I am unable to even do statistic on my trades anymore because TJ doesnt accept TS yet so I have no clue whats going wrong on that side but I feel like I am taking very calm cool and collected trades and still am somehow having a win rate that is almost impossibly negative. I mean I think I took 11 trades today and I lost on all of them except 1. HOW IS THAT EVEN POSSIBLE???? You truly need to be retarded, stupid as fuck, and EXTREMELY UNLUCKY, to even be wrong that much?
Where did I go wrong?
- I started today with studying the PPI data which I thought would give me some type of edge against the market and very quickly I realized that Im not a fucking economist and it seemed like everytime PPI was lower or higher than expected the only thing that happened was the market chopped up and had ZERO consistency and made ZERO sense. One day PPI is WAyyyyyy better than expected and we went bullish, Next time PPI is way worse than expected and still bullish, Next time its exactly what was expected dand still bullish, Next time its exactly what expected and bearish. There was zero rhyme or reason to any of this so once I realized that I shouldve just taken the entire day off because clearly I wasnt going to be able to read this PPI data and actually pick a clear direction when it seemed like the only price action that existed was a ranging chop fucking fest.
- Once I lost 50 dollars in a single trade for a trendbreak (10 points in 1 trade) I shouldve immediately stopped out of my account for the day. Also once we faked out a perfect trendbreak I shouldve realized that we were not going to break down and if we were it was going to be one of those retarded "drop 50 points in 3 seconds after breaking the high 55 times" type of drops. aka, ones that I am fully okay with completely avoiding.
- Perhaps NEVER do anything other than what the prevailing micro trend is? I dont fucking know, Ive tried to talk about and grasp this concept so many fucking times and it seems like everytime I try I just learn that its even more complicated and there is zero way to gain edge from something so complicated that it is random to someone who hasnt studied it for 10 fucking years.
-The daily chart looks so perfect for a breakdown of this trend. Maybe the only way we truly breakdown from a trend like this is from a more significant data such as CPI. CPI includes import data plus is more about the consumer versus the producers. In essence this entire bear market is more about the consumer than the producer. We are scared about a recession and long term inflation which will always be about the citizen rather than the producers of products to those citizens.
How is it possible to have a R that is so heavily negative that I cannot get my green days to be greater than 50 dollars but my red days exceed 150?
- Lack of discipline on red days is so evident here. If I lose whatever my last green day was then I must stop. No matter how tiny that green day was. The ONLY scenario where that is not applicable is if we are on a day where opportunity is massively skewed such as CPI or Hike days. Even then though perhaps that is just another flawed idea because I thought that today and I lost 200 fucking dollars so
- Going red past max loss is the absolute #1 way to just simply never make any money in trading. I think that one of my problems is the fact that I feel like I have so little time to become successful. I feel like I need to do everything in 2 years and if I dont do it that fast then I am a failure. I need to realize that just waking up and attempting to do this after all of the pain i feel daily is a massive success in itself. Studying like I am right now on days where I truly would feel so much joy to split my computer in half and withdraw all of my funds and see how long I could live in a third world country, Is a success. Waking up the next day after feeling like this is a success. Following my trading rules is success. Understanding my flaws and attempting to discover how to fix them is a success. For some reason I forget these things on a daily basis and end up having tunnel vision and think in such a flawed way. I do not need anything in this life that I do not already have. I have a beautiful family with everyone healthy, I have my own health (kinda lol), I have every fucking opportunity that anyone in this world could ever ask for, I have an amazing education with incredible parents who taught me how to always question everything and to chase my dreams, I have a great community of other traders who watch out for me and tell me how to fix my problems when they become blind to me, I have the gift of age where I am still very young to be chasing my dreams, I have so much time to do really anything I put my mind to, I have an awesome way of breaking down everything that I attempt to understand into their bare essentials to gain truth, I am alive....... What else could someone ask for?
"A man who is healthy wants 10,000 things. A man who is sick only wants 1 thing."
"Every man has 2 lives. The second one starts when they realize they only have 1."
"We question every belief we have about ourselves, EXCEPT for the ones that we truly believe. Those ones we never question."
What are some things that I do not question about trading that are possibly my biggest problems because I do not even understand that they are there?
1. Maybe I shouldnt be daytrading? Perhaps my market edge lies within much large timeframe moves instead of trying to scalp intraday price action. Maybe swinging would be a much more profitable endevour for me but I wouldnt know because I never put focus into that area of my trading. I only ever focused on daytrading because I feel that sense of urgency where I NEED to make money now and I cant wait. That is a massive flaw. I do think that I have a very cleaner perception of the market on larger timeframes because I am much more of a deep thinker rather than a fast thinker. I like to fully conceptualize and understand how and why I am taking a trade instead of just thinking "break of high get in." Being extremely deliberate with my actions could possibly yield much different results. For me to test this out maybe I should start giving myself really large stops and looking for limit orders that sit out until they are filled and while the market is in the process of moving I dont even have to really watch but instead just manage my positions.
- How do I do this? maybe options trading on very large timeframes would be much better for me. This could allow me to let go of the idea that I have to be zooted up and ready to make money every single day and instead I just wait for the price action to come to me. Maybe I should be trading a variety of stocks instead of just looking for these super tiny intraday setups on the SPY. Trying to trade the same ticker everyday is very hard because there are days when there is truly a broken slot machine and it works incredibly well and there are other days where there is zero direction and zero edge no matter what is going on. I have been trading solely the SPY for at least 6 months now and I find random bouts of consistency and random bouts of inconsistency. I think it would be much smarter to just branch out and try other things especially because I am making nothing and in fact losing a lot with the SPY so why not try something else? Its not like im leaving money on the table or anything.
2.
