Saturday, August 22, 2009

12 Weeks Ago

That was the last time, i took four bad trades in a row.

I spoiled you guys with win after win for 12 weeks in a row with tiny minimal losses. :-) I FULLY intend on bringing you guys and myself top notch ideas, but this week clearly i have a monkey on my back. I am proud of one thing tho and it took me YEARS to get to this point: I kept my losing trades to an absolute minimum without throwing reckless trade after trade trying to recoup losses and i even took all of tuesday and friday off. I realized that i was NOT "feeling" it this week. I ONLY took 4 four trades and kept losses super tight. Compare these four trades to other weeks where we average 11 trades a week. That's 3 times less than the average, ALL because i noticed that i was sucking this week. There are weeks where we ALL WILL SUCK. We are in the 'human being business' and we will ALL make mistakes at some point. Don't be too fooled with fancy computers, cutting edge software and cool trading lingo, in the end human beings make trading decisions and we will ALL make mistakes. The traders that will survive in the long run are the traders are admitting to themselves that they making mistakes and quickly taking action to secure their accounts.
No room to be reckless in trading.


This week i am 0-4. Four trades and four losses. Here they are:

LONG/SHRT Symbol Entry Price Exit Price % Profit/Loss Holding Period

LONG VNO 54.4 54 -0.74 day trade
LONG DAN 4.93 4.86 -1.42 day trade
LONG GMCR 56.95 56.14 -1.42 day trade

LONG RDN 8.82 8.55 -3.06 day trade

I am calling it a week and yes, that means that in 19 weeks of Art Of Trading history, this will be my 3rd losing week with 16 winning weeks. I am very proud of this and i FULLY intend on continuing to keep this going!! I am going to take off today and tomorrow. If you are new to this service, this week was a bad week to join. HA! But i hope that you ALL are getting something positive from this service and what i am trying to do here. Trying to make YOU a better trader.

I will still be here to answer any of your questions but do not expect any alerts from me today as i ride out thru this trading mental block.

good luck!! much love!


Anonymous said...

The only person who wins in the market week after week without taking any losses is Bernie Madoff. And we know how that ends.

Don't sweat it, people have to expect there will be winners and losers.

Stewie said...

thanks man and i totally agree.

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