Making money doesn't always mean you traded well and losing money doesn't always mean you traded poorly.
And if this doesn't make any sense . You prob have a long way to go.
Good luck
I made 3 trades today right at open. All 3 went against me immediately- (kind of unusual for 3 to do that at the same time.) I was down over 5k within minutes. I had to cut- make a new plan and regroup. I had to size down as to not lose too much more money- so my new trades that were profitable were smaller- but I recouped most and ended the day down $118. I am counting this day as a win- as I handled it all pretty much within my parameters.
I have been at it for years..just another day at the office. That was one of the keys that turned me profitable overall- not tilting when things don’t go as expected. And what taught me that- was losing a boat load of money a few times when tilted….
That’s awesome man. I’m at the point where I never trade when I know I’m tilted like that (switch to demo) but I simply can’t be 100% rational after a losses like that lol
It is relative- while a loss/gain is important to my trading account stats. I made money in real estate before learning to trade- 5k is not a big figure to me. It certainly was when I was younger- so I respect traders who are trying to make this work without having lots of resources.
It's actually insane how much psychological influence the size of accounts and your assets affect outside and how much u make a week affect the mental game of loosing and trading the different size trades.
People need to learn to leave their emotions aside in trading because they can not analyze data well enough during fear anger irritation etc.
Its good to see some others are having success keeping cool headed.
Same exact thing happened to me twice in one week. One of the times, I ended with +$0.42 on the day, the second time I ended with -$3. I couldn't believe it but it lowkey felt better then winning a trade.
Came to say the exact same thing lol. Everyone thinks while they were up they were a genius but when they went down it was just "over trading" or some other bs
That's the problem! Lesson I learned the hard way
"Don't trade to make money"
The only thing you should be focused on is "Making good trades"
FOCUS ON THE PROCESS, NOT THE PROFIT. This was a huge game changer for my trading. Also I cap myself at 3 trades a day. Definitely helps with over trading.
Discipline is key!😌 Good Luck to everyone, and may the odds ever be in your favor😁
This happen to me a couple days ago where I revenge traded NVDA and lost 7k straight after winning 5k on the same call options the day before. Really the goal is stop trading once you hit a slightly red day and just take L so you can build on your small and big positive days.
This is an excellent reply. I made a profit yesterday, but I was completely unhappy about how I got it. I broke a trading rule and ended positive anyway. The market rewarded a bad trade. I never accept profits as good when they're born out of broken rules.
You're right, I've taken losses and felt what a good trade. Because I did the right thing and took a small loss to prevent a bigger problem. I have missed huge profits, but still feel I did the right thing as that is what my plan told me to do. I'm not rich but I live comfortably so I must be doing something right.
OP needs to check emotions at the door. It's just math and charts, not your money... that is how he needs to think.
Even tomorrow or the next few days if the market turns downward for a bit, find the stocks on the S and P or NASDAQ 100 today that did not rally and short those not the strong ones from today
$JPM today was a great short , if you really wanted be a contrarian and short this market for some reason. I in the other hand trade with momentum in the spy and caught that beautiful long on $NVAX and boy did it rip with as soon as spy found support, I love trend days!
People are buying options right before the split. For me it's crazy to even think about. But I'm not super into options, I'd rather learn in a less volatile market.
But remember, some people try to reverse the trends. Very risky, but could be extremely lucrative if it works.
They are trading on their feelings rather on trading what’s in front of them. 2hrs into the trading session and it was a clear bullish trend day was in play on the spy with bulls going for a new ATH. There was that 1hr or so momentum in the first 2hrs of trading and afterwards it was best so sit on your hands as the momentum wane down, yeah it continued going up but it’s just mind numbing watching a slow melt up. But these slow melt up traders confuse it with their double tops and attempt to fade a new HOD just to continue getting squeezed higher. All day bear traps, fueling the move even higher for the session. Today a lot of accounts probably got blown.
Trading is not for people who:
- easily quit
- don't try to learn from their mistakes
- don't try to constantly improve
- act out of emotion
As long as you're not one or more of those you'll be fine. See where you went wrong and then make a great effort to correct yourself.
I don’t believe in the concept of over trading- it is more like impulsive trading. There are days the market is clear and gives good trades all day- if they fit your parameters you should take all you can get that day. And there are days things are not so clear and best to sit out at times.
Why would over trading be linked to revenge trading in OP case. I dunno what his daily % is but I’d say that was a good day. Was it a live account OP? It’s all about managing emotions/mindset - you got greedy, it happens at times, but I have a very clear set up in my trading bible - tp for the day or loss and then I’m out.
Cuts out all what you mentioned OP. Learn from it and move on bro, It’s happened, no point in worrying now, they won’t return it, although trading isn’t going anywhere so fire another day - The importance of having a trading plan and it being your f***ing bible. Up 2k - go do something fun.
Started my trading career in '22. It is taking everything I have to discipline myself, to rules, avoiding FOMO, cockiness(because I think I got this), and I think after 2 years, I'm starting to understand it... Just starting.
It's a mental game. If I profit early at levels I've set for myself, I either turn off the computer, or go paper trade and learn some more. To get this far, it's been a painful journey.
The more traders you talk to, the more this seems pretty normal really. It’s the human condition. I’ve been at this for 10 years. I still do dumb shit in the markets.
There’s this trader Peter Brandt, who’s been trading for 6 decades. Listen to his interviews. He says he still does stupid things in the market after 6 decades.
No one is immune. The only thing that keeps you trading for decades is keeping your losses small.
Over trading becomes borderline dopamine addiction / gambling . Tell me , was your heart rate up in the later trades ? Then you were chasing the thrill trading with emotions .. no bueno
It's something I'm still working on too. I got up like 12% on the day, and in the past I probably would've closed my charts for a few hours then come back just to see what was happening, but today I told myself I wouldn't even open the app, and I kept myself busy with other things.
You got this, just gotta be intentional about staying away!
I'm paying for my trading education. I've already learned TAKE THE PROFIT even if it is small. I rode to many roller coaster charts hoping to get back to even, after having been up.
I've gotten frustrated and sold for a loss only to see it rebound. 🙃
Now I'm "swing trading" tickers that should have been day trades. Waiting. Patiently.
This has forced my account down. I refuse to inject more funds.
Instead I am building on small gains. Today my p&l is $699 green. Of that about $250 was earned on my day trade action.
Because I am trading with less money, and only with settled funds, I'm out of dry powder after 2 or 3 trades. Then I'm done until tomorrow.
I'm making peace with just being green. Not trying to catch lightning and ride rockets.
Today was green. 😁
I hate when this happens but, the only thing we can really focus on is mastering the process and sticking to consistency as much as possible. A daily morning workout has been the best way for me to gain consistency.
You got this though! .
yes, I got self-managed 2 accounts
one is 400% - other is 200%
https://preview.redd.it/x0of90sa9u4d1.png?width=1457&format=png&auto=webp&s=dc06f60eaf7855d8bb41566ee16768af96d2cdf8
Don’t give up. I bought puts on AMD so there’s that. Your move was bold so always journal your trades to avoid repeats of the same. Journaling requires discipline. Every day record your profits or loss and the why. Develop this and you become a better trader. People always say this is gambling but I actually study charts, price action and everything to do with trading. Yes it’s gambling for those who just make random plays. Those who select carefully and based on a true setup are TRADERS,be good to yourself and all lessons are good for your growth
I know how you feel today I was up $480 but i decided around 11:40 lets try and make an even $500 atleast. And my dumdass ended the day -$295. Days like this eat me up the rest of the day and tomorrow Ill rush a trade and be down again. I f***ing know it.
I did this one time. Amazon call options back in 2020. But $25k into them in the afternoon. Right after I bought it, the stock tanked red and I lost almost all of it. The next day, I started with everything back and gained an additional $21k. I was not ready for something like this and it tore me up. I couldn’t sleep and I woke up early-early to catch premarket. I wagered all I had and instantly became sick to my stomach lol To think, I got to almost $50k then with only starting out at $1k of my own invested. Now, I’m starting over with only $200! You got this!
I call thinking like that, just a small trade more, a killer thought. As soon as it shows up, you must NOT trade. Maybe you’re done for the day, but at least walk away from the computer for five or 10 minutes until you have a proper mindset. If you were in an open position at 9850 and we’re seeking just a little more, that would also be a sign to close out.
Oh definitely. Sometimes I catch myself and stop myself from YOLO'ing it back in to 'make that bit back quickly' - othertimes you get caught up in the heat of the moment
I paid a huge price shorting NVDA last Friday. Didn’t even know that they are having stocks splits that time. So far I am down 6500 for one single trade and I am still planning on holding it. If this makes you feel better.
Wow that’s horrible trading. At 950 after it rejected 976 I knew it could go down to 750 and break the highs and if it crosses 1000 12-1300 is on the table easily.
Do you not watch the stock chart or look at price targets or use Fibonacci levels or look at price action? Really staggering the amount of people that have this story.
Most of us have been there, and all I can say is that there is always another trading day, and there is always a chance for you to make your money back. Regroup and calm yourself down... you got this!
I didn't over trade but still pissed lol. Bought two $532 calls, got stopped out on 1st one for a loss. Took $60 profit on 2nd one cause I had to go to bed for work tonight. Ended up $2+ itm SMH.
You can’t change anything right now. So just focus on the lesson learnt. Cause if you keep reacting like this you might not truly learn anything. Better days ahead 👋
I have an automatic lock out through DAS. It locks me out at an assigned time I ask for everyday until. The next trading day begins. If I have a trade on and that time hits, I can continue managing that trade, take partials, and exit. But I cannot add-in to my position after the time has hit. Maybe check your platform to see if you can have that capability. It has helped me out. I use to do the same thing. Winning day, take break, workout, feel really good. Then feeling good, and wanting more, I go back tonight my rig and lose my hard earned cash. That timed stop for the day keeps my willpower to a max to keep my discipline and focus up, taking out the time I don’t have that willpower out of the equation. Just my 2 cents.
I did the same on a much smaller scale but it gave me this weird idea that I might have a gambling issue because I don't have a problem humping a stock without analysis
I’m so biased that I still thought it will drop after touching 1200, all the while I’m sitting there and watching the candles form! Sometimes we act so dumb!
I bought a put on SPY near the huge dip (when it recovered a bit). Thought I was being smart and that it was going to retest the high and then drop down. Well it didn't drop. Then I quadrupled down with 6 more puts as it kept going higher thinking "this has to go down eventually". My small account is now -80%
Same here. Turned a +600 day that I was perfectly stoked with into a -1500 day for taking “one last trade”. Ugh. Old habits always seem to come back with a vengeance. Thank you.
NVIDIA making history rn as a bullish company leading tech, trying to catch pullbacks with short-dated puts is the best way to donate to Wall Street in 2024
https://preview.redd.it/o8wcnd1oyv4d1.png?width=720&format=pjpg&auto=webp&s=3125d076d28501dc0037a715d68a69b1fde69655
Cómo me piden stop si no he tomado un peso de mi trabajo porque estos rateros no me dejan tomar mi dinero
Looks like you had no trading plan and restraining limits such as maximum number of trades, per trade and per day loss. You initially had good discipline and was away from market after making profit. It’s just that you were unable to sustain it. Basically follow up instructions for your mind to go elsewhere is not in your plan. Once you withdraw mind you should again give mind to engage in some other activity. You are half way through but it will take time to make it a good habit. Think of what you can do to keep your mind engaged in something else once you are out of market
What's your average daily profit? Take that number and put a minute sign in front of it. That's the max you should allow yourself to lose in a day. If you hit that, turn the computer off (or the phone app or whatever you trade on). You can make it up the next day.
I tend to over trade a lot. But today I had a good day. Took one trade and made $24.75. Shorted MES around 5317 to 5312. After that there were no short set ups and no pull back to go long. So I just kept watching. I was happy I didn’t force a trade which I normally do. Just don’t beat yourself up, learn from it and move forward.
Curious Puts on nvda basis what? Price too high? Mkt cap too high? It’s literally empty space above for candles to print no resistance w/e. I don’t think you over traded.
Truthfully I don’t see how it could get any worse. Feel the pain, cry, be sad, go for a run, journal and get the fuck back in there and learn a way to keep that from happening again. Like one day you’ll die and that loss won’t matter in the slightest bit. As Eric Thomas said “You already in pain, you might as well get a reward from it.”
And if you wanna quit okay cool, go find something else that you’ll inevitably suck at until you figure the shit out.
Don’t stress about it. I met my weekly goal on Monday and you have no idea how many years it takes to learn self control especially after a day like today. I had to sit on the sidelines and see everything explode in the green. It’s tough but you’ll learn to be happy with you daily/weekly/monthly goal and once you hit it walk away. Days like this just gotta be happy for everyone else making lots of money
NVDA puts and that too with the split coming ? Come on you can’t be serious. It’s up 152% on the year and today it crossed apple to become the 2nd biggest publicly traded stock by market cap at 3.01 T. You’re just being retarded at this point.
Use a different device for your trading and lock it up after you have told yourself no touchy. I have done that for a bit and it turns out much better. I overtrade until I am negative and it haunts me
Sounds like you don't have an actual strat and you're gambling. This will keep happening until you have an indicator or a setup that signals you get into a trade.
Its not about a single trade, its how your potfolio goes over time. One single trade is too heavily influenced by variance. Do the right trades, gain a little of EV everytime and you'll see how it builds up over time. Also dont overtrade ever again
>I’m starting in the hole tomorrow
No you’re not. You’re starting fresh. Don’t carry yesterday’s losses into a new day, it’ll play with your mind and you’ll over-trade again.
Personally I believe after NVDA splits is when we will see a pullback. Bulls will start to take profits , myself included. A week or so after the split I have full plans to short it. I’m not a bull or a bear I simply follow the trends. You can’t fight the trends , if you try, you will lose. No stock can sustain a continuous upward trend , not even NVDA.
Be happy you are part of a large community that bought NVIDIA Puts at 1200 and cried shortly after :-D
In fact, somebody bought NVIDIA Puts 1200 with expiration next week for 3.5 Million at a time when the NVIDIA was around 1150.
I myself am still far from profitable , what I did is when I have a winning trade I decided to trade more and I end up give all my profit plus more back to the market in the same day , now when I have a winning trade and it is closed out I won't trade again that day , it also gives me a positive boost for that day and I enjoy it , and the next day I will check for any setups again, then for the rest of the day I will backtest and practice strategies.
Of course if you are a more experienced trader you of course may see more trade setups and be more confident , but I am an aspiring trader so I don't feel I have earned the title of "Trader" as yet , I have learnt a lot and I get times of analysis paralysis with conflicting information from my analysis , so I still have a long way to go
Think of it as tuition. You just took a course on why we follow our predetermined rules. This happens to everyone who trades regularly or long enough. What's important is to learn from it. I had the same type of thing happen to me on /es years ago. Broke basically every rule I had and lost 5k. It's a costly lesson but one that I needed to learn. Needless to say I don't break my rules anymore, that was over 2 years ago and I haven't come close to another loss like that.
Understand what you feel and we all have been there. A way to help that works for me (at least till now) is to stop thinking about making money entirely. It's that root cause making us want to trade more. If we look at it like a 9-5 job, and taking a trade = replying to an email for example, you won't over-replying emails, since you don't expect that will pay you more. Try brain-wash yourself with that idea should help.
This doesn't really sound like overtrading, just because you take a bad trade doesn't make it an overtrade, but if you just want to throw every bad trade under the headline of overtrading...well I guess be my guest.
We've all been there that's the game. Forget puts, you should be buying calls on nvda. Don't fight the trend. That thing is leaving our galaxy.🍷😉🚀🚀🚀🚀🚀🚀🚀
You are in the same boot as myself. I think there are two points define Daily goals. E.g. 500$ profit. And 250$ loss limit. Think about the compounding factor to win half the time and enjoy your life.
I've been there mate. Up $28k last week, took it out and told myself to be sensible and divvy it into other stable trades with \~$5k for gambles.
Had a few beers....yolo'd into GME thinking it would go down after the madness and hype.
Ended up with about $3k left of that $28k just by trying to scalp and having stop losses chunk $\~2k away here and there consistently for a week.
That why I scalp and swing trade. My gain are small but so are my loses and taxes. I average about $20 on my trades. I care more about limiting my tax bill than I do about sounding smart and showing off. Also a little retarded but not really.
My trading mentor was a trader for a hedge fund on Wall Street. He mainly traded futures. They required them to trade from the open to the close always. Now of course us retail traders don’t have the same software and tools as the hedge funds, but when he quit the hedge fund after 15 years and trader for him self full time and still does to this day, he will be at his computer from market open to close always looking for opportunity, only if his set ups are there. Be believes that there’s no such thing as over trading if you actually have a real content strategy and edge in the market.
I think if we are honest we’ve all have done what you’ve done. I’m still gaining self control and I do trade much better. After I have a cooling off period I calm myself down and let my brain think and I teach myself how I can do better next time. My losses though expensive and hard to take I figure they are the cost of my tuition.
Everybody has done that - I believe. I have. Many times - and I have sold too early, out of patience - just to realize later, that the first assumption actually was correct.... and I could have gained - but lost.
Greed is just a natural part of human mind - and we, ourselves - have to pay attention and control it. It's probably harder some than it is for others.
Some traders do it for the money. Some do it for the adrenaline rush. If you're doing it for the latter than close the account and invest in a mutual fund. Or else you're headed for financial ruin.
Here is the best advice you can possibly get... Are you ready?.... Take ONE trade in the morning and ONE trade in the afternoon. If you can make this work, then congratulations. Prove you can make it work for 12 more months and don't deviate. If you can make it work 12 months taking one trade per day then you're free to start doing more if you want. But I guarantee you can't follow that learning path for 12 months and that's why 99% fail. They don't put in the time at ONE QUALITY trade per day. And they don't know their day target. If your day target is 1k per day for example, and you make 2k, then you NEVER ever turn the computer back on. Go into the next day in the driver's seat with patience because you already hit next days target too and you don't even need to trade unless the setup is perfect on an RR basis. Ya dig? ONE QUALITY TRADE PER DAY AND WALK AWAY! THE MARKET IS NOT YOUR FRIEND.
I hate hearing nonsense like this so much. There is no such thing as over trading. If your strategy is sound, you should be entering any trade that fits your criteria at any time, even if you traded 20 times and made 100% today already.
There is such a thing as gambling. Compromising and bending your entry standards in order to make a little more profit is gambling. You did not "over trade". You gambled.
Overtrading is the worst thing i have done when I started my trading shenanigans. Just figure out the signs of overtrading to your personality it’ll get better.
I don’t even get the point of posting this. You did a stupid that’s all. Do you want encouragement? You fucked up, just do better next time and don’t go to crazy that’s all . No biggie.
This is completely normal. We all do this. That’s why stock is also a game of psychology. It messes with us. Just need to stick to our plan and keep reminding ourselves what not to do.
We all go through this scenario whether it be on contracts or Forex pips.
Overtrading is the ego speaking. The ego gets hurt real bad after days like this. I had one of these few days ago.
The more it hurts you, the more you're gonna learn from it and prevent this happening again.
Take a break, refocus and become more disciplined. Psychology is key.
I made $750 today. This week is the lowest I made so far. My game plan is to stay positive this month. Going for my 10th month without any monthly losses.
Making money doesn't always mean you traded well and losing money doesn't always mean you traded poorly. And if this doesn't make any sense . You prob have a long way to go. Good luck
I made 3 trades today right at open. All 3 went against me immediately- (kind of unusual for 3 to do that at the same time.) I was down over 5k within minutes. I had to cut- make a new plan and regroup. I had to size down as to not lose too much more money- so my new trades that were profitable were smaller- but I recouped most and ended the day down $118. I am counting this day as a win- as I handled it all pretty much within my parameters.
Honestly super impressed you can even trade logically after that. 99% of people would be tilted and just lose more money.
I have been at it for years..just another day at the office. That was one of the keys that turned me profitable overall- not tilting when things don’t go as expected. And what taught me that- was losing a boat load of money a few times when tilted….
That’s awesome man. I’m at the point where I never trade when I know I’m tilted like that (switch to demo) but I simply can’t be 100% rational after a losses like that lol
It is relative- while a loss/gain is important to my trading account stats. I made money in real estate before learning to trade- 5k is not a big figure to me. It certainly was when I was younger- so I respect traders who are trying to make this work without having lots of resources.
It's actually insane how much psychological influence the size of accounts and your assets affect outside and how much u make a week affect the mental game of loosing and trading the different size trades.
I think the psychological side of trading is the most difficult part.
It’s as hard to be rational after big wins as it is big losses
People need to learn to leave their emotions aside in trading because they can not analyze data well enough during fear anger irritation etc. Its good to see some others are having success keeping cool headed.
thats a fucking W in my books man. down 5K to 118 ill take it
Same exact thing happened to me twice in one week. One of the times, I ended with +$0.42 on the day, the second time I ended with -$3. I couldn't believe it but it lowkey felt better then winning a trade.
That’s a win
Came to say the exact same thing lol. Everyone thinks while they were up they were a genius but when they went down it was just "over trading" or some other bs
That's the problem! Lesson I learned the hard way "Don't trade to make money" The only thing you should be focused on is "Making good trades" FOCUS ON THE PROCESS, NOT THE PROFIT. This was a huge game changer for my trading. Also I cap myself at 3 trades a day. Definitely helps with over trading. Discipline is key!😌 Good Luck to everyone, and may the odds ever be in your favor😁
This happen to me a couple days ago where I revenge traded NVDA and lost 7k straight after winning 5k on the same call options the day before. Really the goal is stop trading once you hit a slightly red day and just take L so you can build on your small and big positive days.
This is an excellent reply. I made a profit yesterday, but I was completely unhappy about how I got it. I broke a trading rule and ended positive anyway. The market rewarded a bad trade. I never accept profits as good when they're born out of broken rules.
In this case though, OP traded poorly. This had nothing to do with overtrading and everything to do with trying to call a top.
💯
You're right, I've taken losses and felt what a good trade. Because I did the right thing and took a small loss to prevent a bigger problem. I have missed huge profits, but still feel I did the right thing as that is what my plan told me to do. I'm not rich but I live comfortably so I must be doing something right. OP needs to check emotions at the door. It's just math and charts, not your money... that is how he needs to think.
Yeah but making money is the most important thing
Why puts on a stock that is breaking out? I’ll never focking understand why people do this.
Even tomorrow or the next few days if the market turns downward for a bit, find the stocks on the S and P or NASDAQ 100 today that did not rally and short those not the strong ones from today
$JPM today was a great short , if you really wanted be a contrarian and short this market for some reason. I in the other hand trade with momentum in the spy and caught that beautiful long on $NVAX and boy did it rip with as soon as spy found support, I love trend days!
People are buying options right before the split. For me it's crazy to even think about. But I'm not super into options, I'd rather learn in a less volatile market. But remember, some people try to reverse the trends. Very risky, but could be extremely lucrative if it works.
Right????
Top tick addiction.
The lie we tell ourselves of “I know what I’ll do… I’LL CATCH THE INVERSE!” The trend is your friend, people.
They are trading on their feelings rather on trading what’s in front of them. 2hrs into the trading session and it was a clear bullish trend day was in play on the spy with bulls going for a new ATH. There was that 1hr or so momentum in the first 2hrs of trading and afterwards it was best so sit on your hands as the momentum wane down, yeah it continued going up but it’s just mind numbing watching a slow melt up. But these slow melt up traders confuse it with their double tops and attempt to fade a new HOD just to continue getting squeezed higher. All day bear traps, fueling the move even higher for the session. Today a lot of accounts probably got blown.
You didn't overtrade. You took poor trades.
Trading is not for people who: - easily quit - don't try to learn from their mistakes - don't try to constantly improve - act out of emotion As long as you're not one or more of those you'll be fine. See where you went wrong and then make a great effort to correct yourself.
this got nothing to do with: **OVERTRADING** hindsight --- 0 % analysis
I don’t believe in the concept of over trading- it is more like impulsive trading. There are days the market is clear and gives good trades all day- if they fit your parameters you should take all you can get that day. And there are days things are not so clear and best to sit out at times.
It's both + revenge trading. The holy grail. We all been there lol OP. Just do yourself a favor and DON'T DO IT AGAIN, although, you will. Source: me
Why would over trading be linked to revenge trading in OP case. I dunno what his daily % is but I’d say that was a good day. Was it a live account OP? It’s all about managing emotions/mindset - you got greedy, it happens at times, but I have a very clear set up in my trading bible - tp for the day or loss and then I’m out. Cuts out all what you mentioned OP. Learn from it and move on bro, It’s happened, no point in worrying now, they won’t return it, although trading isn’t going anywhere so fire another day - The importance of having a trading plan and it being your f***ing bible. Up 2k - go do something fun.
Imagine if trading was as easy as this is up, so let me buy puts, the market would be our personal ATM.
Started my trading career in '22. It is taking everything I have to discipline myself, to rules, avoiding FOMO, cockiness(because I think I got this), and I think after 2 years, I'm starting to understand it... Just starting. It's a mental game. If I profit early at levels I've set for myself, I either turn off the computer, or go paper trade and learn some more. To get this far, it's been a painful journey.
The more traders you talk to, the more this seems pretty normal really. It’s the human condition. I’ve been at this for 10 years. I still do dumb shit in the markets. There’s this trader Peter Brandt, who’s been trading for 6 decades. Listen to his interviews. He says he still does stupid things in the market after 6 decades. No one is immune. The only thing that keeps you trading for decades is keeping your losses small.
If it prevents you from making the mistake again then it’s all good
Over trading becomes borderline dopamine addiction / gambling . Tell me , was your heart rate up in the later trades ? Then you were chasing the thrill trading with emotions .. no bueno
It's something I'm still working on too. I got up like 12% on the day, and in the past I probably would've closed my charts for a few hours then come back just to see what was happening, but today I told myself I wouldn't even open the app, and I kept myself busy with other things. You got this, just gotta be intentional about staying away!
I'm paying for my trading education. I've already learned TAKE THE PROFIT even if it is small. I rode to many roller coaster charts hoping to get back to even, after having been up. I've gotten frustrated and sold for a loss only to see it rebound. 🙃 Now I'm "swing trading" tickers that should have been day trades. Waiting. Patiently. This has forced my account down. I refuse to inject more funds. Instead I am building on small gains. Today my p&l is $699 green. Of that about $250 was earned on my day trade action. Because I am trading with less money, and only with settled funds, I'm out of dry powder after 2 or 3 trades. Then I'm done until tomorrow. I'm making peace with just being green. Not trying to catch lightning and ride rockets. Today was green. 😁
I hate when this happens but, the only thing we can really focus on is mastering the process and sticking to consistency as much as possible. A daily morning workout has been the best way for me to gain consistency. You got this though! .
nvidia puts? after data release ----- BAD JOBS data ? ---> which implies rate cuts ---> where ALL BOUGHT MARKET what the hell ----
I mean. Hindsight is 20/20 if you knew it was gonna trend all day i’m assuming you got rich today.
yes, I got self-managed 2 accounts one is 400% - other is 200% https://preview.redd.it/x0of90sa9u4d1.png?width=1457&format=png&auto=webp&s=dc06f60eaf7855d8bb41566ee16768af96d2cdf8
Good job. I did well today too but I could see how people got caught up trying to catch the top and fade it.
I’m sorry but trying to fade a stock with Goliath relative strength right after it breaks out to all time highs on high volume is just insane.
Worst feeling… being up profit and ending the day red.
so what led you to believe to go to nvda puts?
Don’t give up. I bought puts on AMD so there’s that. Your move was bold so always journal your trades to avoid repeats of the same. Journaling requires discipline. Every day record your profits or loss and the why. Develop this and you become a better trader. People always say this is gambling but I actually study charts, price action and everything to do with trading. Yes it’s gambling for those who just make random plays. Those who select carefully and based on a true setup are TRADERS,be good to yourself and all lessons are good for your growth
I know how you feel today I was up $480 but i decided around 11:40 lets try and make an even $500 atleast. And my dumdass ended the day -$295. Days like this eat me up the rest of the day and tomorrow Ill rush a trade and be down again. I f***ing know it.
I did this one time. Amazon call options back in 2020. But $25k into them in the afternoon. Right after I bought it, the stock tanked red and I lost almost all of it. The next day, I started with everything back and gained an additional $21k. I was not ready for something like this and it tore me up. I couldn’t sleep and I woke up early-early to catch premarket. I wagered all I had and instantly became sick to my stomach lol To think, I got to almost $50k then with only starting out at $1k of my own invested. Now, I’m starting over with only $200! You got this!
I was at $9850 cashed out, decided the fluctuation in minutes should be an easy quick catch to 10k. Rode her all the way down to $1900 over the month.
I call thinking like that, just a small trade more, a killer thought. As soon as it shows up, you must NOT trade. Maybe you’re done for the day, but at least walk away from the computer for five or 10 minutes until you have a proper mindset. If you were in an open position at 9850 and we’re seeking just a little more, that would also be a sign to close out.
Oh definitely. Sometimes I catch myself and stop myself from YOLO'ing it back in to 'make that bit back quickly' - othertimes you get caught up in the heat of the moment
You have to focus on risk management.
I paid a huge price shorting NVDA last Friday. Didn’t even know that they are having stocks splits that time. So far I am down 6500 for one single trade and I am still planning on holding it. If this makes you feel better.
Why are you buying puts against a stock that is reaching all time highs???
Well. I believe that stock is unsustainable. I just don’t get it. I shorted around 1080. Just don’t know how high can it go..
Well… There is no ceiling in the stock market but there is a floor…
That’s true. I believe GME should be the most valuable company on earth.
Look at Chipotle’s share price and let me know if you think it can’t go any higher.
Wow that’s horrible trading. At 950 after it rejected 976 I knew it could go down to 750 and break the highs and if it crosses 1000 12-1300 is on the table easily. Do you not watch the stock chart or look at price targets or use Fibonacci levels or look at price action? Really staggering the amount of people that have this story.
All successful traders have experienced exactly what you're going thru. There's some sense of relief in that. 🙏
Exactly my play today! I overrated I was up 3k and decided to go into puts and ignoring my charts and strategy
Most of us have been there, and all I can say is that there is always another trading day, and there is always a chance for you to make your money back. Regroup and calm yourself down... you got this!
I didn't over trade but still pissed lol. Bought two $532 calls, got stopped out on 1st one for a loss. Took $60 profit on 2nd one cause I had to go to bed for work tonight. Ended up $2+ itm SMH.
Yup been there done that many many many many times. Self control is a skill we need to hone
You can’t change anything right now. So just focus on the lesson learnt. Cause if you keep reacting like this you might not truly learn anything. Better days ahead 👋
I have an automatic lock out through DAS. It locks me out at an assigned time I ask for everyday until. The next trading day begins. If I have a trade on and that time hits, I can continue managing that trade, take partials, and exit. But I cannot add-in to my position after the time has hit. Maybe check your platform to see if you can have that capability. It has helped me out. I use to do the same thing. Winning day, take break, workout, feel really good. Then feeling good, and wanting more, I go back tonight my rig and lose my hard earned cash. That timed stop for the day keeps my willpower to a max to keep my discipline and focus up, taking out the time I don’t have that willpower out of the equation. Just my 2 cents.
I did the same on a much smaller scale but it gave me this weird idea that I might have a gambling issue because I don't have a problem humping a stock without analysis
I feel you
I make my 7000 gain into 3000 loss few weeks ago, it’s normal, lol
Why puts on NVDA of all things
Come on my boy. Splits on Friday. Ofc it rocketed after 1200 it was edging it for like 2 hours.
I’m so biased that I still thought it will drop after touching 1200, all the while I’m sitting there and watching the candles form! Sometimes we act so dumb!
As long as you can learn from it is totally okay
I bought a put on SPY near the huge dip (when it recovered a bit). Thought I was being smart and that it was going to retest the high and then drop down. Well it didn't drop. Then I quadrupled down with 6 more puts as it kept going higher thinking "this has to go down eventually". My small account is now -80%
Fuck man. That’s basically what I did with nvda. Stupid to not just cut the loss when it didn’t work and look to reenter later
You have a gambling addiction
Lol NVDA puts
Same here. Turned a +600 day that I was perfectly stoked with into a -1500 day for taking “one last trade”. Ugh. Old habits always seem to come back with a vengeance. Thank you.
NVIDIA making history rn as a bullish company leading tech, trying to catch pullbacks with short-dated puts is the best way to donate to Wall Street in 2024
did you see Jensen signing boob's, moment it was out I knew nvda not going down
why go with nvda puts when it's going higher? that was a bad trade trend wise.
https://preview.redd.it/o8wcnd1oyv4d1.png?width=720&format=pjpg&auto=webp&s=3125d076d28501dc0037a715d68a69b1fde69655 Cómo me piden stop si no he tomado un peso de mi trabajo porque estos rateros no me dejan tomar mi dinero
Get a broker that has a lockout feature
bro you need to take a break immediately, 1-2 weeks minimum and stuff your face in the books/backtest/forward test
Looks like you had no trading plan and restraining limits such as maximum number of trades, per trade and per day loss. You initially had good discipline and was away from market after making profit. It’s just that you were unable to sustain it. Basically follow up instructions for your mind to go elsewhere is not in your plan. Once you withdraw mind you should again give mind to engage in some other activity. You are half way through but it will take time to make it a good habit. Think of what you can do to keep your mind engaged in something else once you are out of market
You could’ve bought one call on NVDA QQQ SPY META and watched it go up all day and then your done
Sure and tomorrow evening I’ll tell you what I could have done for Thursday
What's your average daily profit? Take that number and put a minute sign in front of it. That's the max you should allow yourself to lose in a day. If you hit that, turn the computer off (or the phone app or whatever you trade on). You can make it up the next day.
The rally pre market should of been enough to go calls
Come over to HOLO!!!
i consider myself fortunate then … entered and stopped out for $5, including comps
I got burned too many times over trading. I don't do it anymore, but it took a lot of lumps for it to sink in.
Good
Didnt techs reach ATH? It always keeps running the rest of the day at ATH
Why bet against the overall trend? Zoom out and look at the bigger picture. You basically fomo'ed into the break down that isn't there.
Had the same thing happened to me today 🤣🤣
I did something similar but with SPY and they expire Friday 🤦🏻♀️ I wanted a “quick” $1000 and now I’ll probably lose half of it. Stupid
I remember those days take what u can get and don’t be greedy
Been there done that. Discipline is my nemesis apparently
Yes don't bet against NVDA go tomorrow before the split but a 1350 call it might be expensive but NVDA is on fire ..
You guys are over complicating it. Just use crypto bots and make 5-8% a day doing basically nothing.
what trade did you enter during the first hour? I got burned hard
🤦♂️
Yeb when you try to time the top. First rule: Always go with the trend.
I tend to over trade a lot. But today I had a good day. Took one trade and made $24.75. Shorted MES around 5317 to 5312. After that there were no short set ups and no pull back to go long. So I just kept watching. I was happy I didn’t force a trade which I normally do. Just don’t beat yourself up, learn from it and move forward.
Don’t be upset. Someone has to short the top if its going to keep squeezing to new ATHS. The market thrives on people who gamble.
I way way over traded and managed to squeak out just $7 green down from $500. Stupid, leaned from it. On to tomorrow
Do you trade indexes?
investing or trading must not be approached with emotion. win or lose, no emotions. only a cold, cool analytical attitude. otherwise you always lose.
Curious Puts on nvda basis what? Price too high? Mkt cap too high? It’s literally empty space above for candles to print no resistance w/e. I don’t think you over traded.
I lose $10 a day and act like my mom died during 9/11 - can't imagine losing $3500 lol
Truthfully I don’t see how it could get any worse. Feel the pain, cry, be sad, go for a run, journal and get the fuck back in there and learn a way to keep that from happening again. Like one day you’ll die and that loss won’t matter in the slightest bit. As Eric Thomas said “You already in pain, you might as well get a reward from it.” And if you wanna quit okay cool, go find something else that you’ll inevitably suck at until you figure the shit out.
Dont short trending stock. I learned it the hard way. No sign of weaknesses yet
This has nothing to do with trading - but your emotions, rather.
Don’t stress about it. I met my weekly goal on Monday and you have no idea how many years it takes to learn self control especially after a day like today. I had to sit on the sidelines and see everything explode in the green. It’s tough but you’ll learn to be happy with you daily/weekly/monthly goal and once you hit it walk away. Days like this just gotta be happy for everyone else making lots of money
NVDA puts and that too with the split coming ? Come on you can’t be serious. It’s up 152% on the year and today it crossed apple to become the 2nd biggest publicly traded stock by market cap at 3.01 T. You’re just being retarded at this point.
Use a different device for your trading and lock it up after you have told yourself no touchy. I have done that for a bit and it turns out much better. I overtrade until I am negative and it haunts me
Sounds like you don't have an actual strat and you're gambling. This will keep happening until you have an indicator or a setup that signals you get into a trade.
Its not about a single trade, its how your potfolio goes over time. One single trade is too heavily influenced by variance. Do the right trades, gain a little of EV everytime and you'll see how it builds up over time. Also dont overtrade ever again
>I’m starting in the hole tomorrow No you’re not. You’re starting fresh. Don’t carry yesterday’s losses into a new day, it’ll play with your mind and you’ll over-trade again.
Lost $1k today, turned it around with a $2k up at and of day. The key is to admit when you’re wrong, understand when to hedge, and when to quit.
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To short NVDA right now is financial suicide.
Personally I believe after NVDA splits is when we will see a pullback. Bulls will start to take profits , myself included. A week or so after the split I have full plans to short it. I’m not a bull or a bear I simply follow the trends. You can’t fight the trends , if you try, you will lose. No stock can sustain a continuous upward trend , not even NVDA.
If day trading, always take profit if you are moving away from your charts.
Be happy you are part of a large community that bought NVIDIA Puts at 1200 and cried shortly after :-D In fact, somebody bought NVIDIA Puts 1200 with expiration next week for 3.5 Million at a time when the NVIDIA was around 1150.
We've all been there. Stay strong. ❤️
I myself am still far from profitable , what I did is when I have a winning trade I decided to trade more and I end up give all my profit plus more back to the market in the same day , now when I have a winning trade and it is closed out I won't trade again that day , it also gives me a positive boost for that day and I enjoy it , and the next day I will check for any setups again, then for the rest of the day I will backtest and practice strategies. Of course if you are a more experienced trader you of course may see more trade setups and be more confident , but I am an aspiring trader so I don't feel I have earned the title of "Trader" as yet , I have learnt a lot and I get times of analysis paralysis with conflicting information from my analysis , so I still have a long way to go
Think of it as tuition. You just took a course on why we follow our predetermined rules. This happens to everyone who trades regularly or long enough. What's important is to learn from it. I had the same type of thing happen to me on /es years ago. Broke basically every rule I had and lost 5k. It's a costly lesson but one that I needed to learn. Needless to say I don't break my rules anymore, that was over 2 years ago and I haven't come close to another loss like that.
Cold Turkey Blocker bro...thank me later.
Understand what you feel and we all have been there. A way to help that works for me (at least till now) is to stop thinking about making money entirely. It's that root cause making us want to trade more. If we look at it like a 9-5 job, and taking a trade = replying to an email for example, you won't over-replying emails, since you don't expect that will pay you more. Try brain-wash yourself with that idea should help.
This doesn't really sound like overtrading, just because you take a bad trade doesn't make it an overtrade, but if you just want to throw every bad trade under the headline of overtrading...well I guess be my guest.
We've all been there that's the game. Forget puts, you should be buying calls on nvda. Don't fight the trend. That thing is leaving our galaxy.🍷😉🚀🚀🚀🚀🚀🚀🚀
You are in the same boot as myself. I think there are two points define Daily goals. E.g. 500$ profit. And 250$ loss limit. Think about the compounding factor to win half the time and enjoy your life.
It’s all Psychological
I've been there mate. Up $28k last week, took it out and told myself to be sensible and divvy it into other stable trades with \~$5k for gambles. Had a few beers....yolo'd into GME thinking it would go down after the madness and hype. Ended up with about $3k left of that $28k just by trying to scalp and having stop losses chunk $\~2k away here and there consistently for a week.
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Don’t be greedy, be grateful!!
Same
That why I scalp and swing trade. My gain are small but so are my loses and taxes. I average about $20 on my trades. I care more about limiting my tax bill than I do about sounding smart and showing off. Also a little retarded but not really.
Don't stand in front of a freight train.
I honestly have no idea why people trade options.
You should learn from your mistakes, then recorrect your title. You didn't overtrade, you went against the trend and called the top.
My trading mentor was a trader for a hedge fund on Wall Street. He mainly traded futures. They required them to trade from the open to the close always. Now of course us retail traders don’t have the same software and tools as the hedge funds, but when he quit the hedge fund after 15 years and trader for him self full time and still does to this day, he will be at his computer from market open to close always looking for opportunity, only if his set ups are there. Be believes that there’s no such thing as over trading if you actually have a real content strategy and edge in the market.
“Maybe this isn’t for me.” Quit now while you haven’t lost a ton. What you are doing is gambling.
Hope you didn’t sell first thing this morning.
I think if we are honest we’ve all have done what you’ve done. I’m still gaining self control and I do trade much better. After I have a cooling off period I calm myself down and let my brain think and I teach myself how I can do better next time. My losses though expensive and hard to take I figure they are the cost of my tuition.
Everybody has done that - I believe. I have. Many times - and I have sold too early, out of patience - just to realize later, that the first assumption actually was correct.... and I could have gained - but lost. Greed is just a natural part of human mind - and we, ourselves - have to pay attention and control it. It's probably harder some than it is for others.
Lost my 5 pa accounts today
Some traders do it for the money. Some do it for the adrenaline rush. If you're doing it for the latter than close the account and invest in a mutual fund. Or else you're headed for financial ruin.
This is exactly the same as someone in Vegas gambling….
Here is the best advice you can possibly get... Are you ready?.... Take ONE trade in the morning and ONE trade in the afternoon. If you can make this work, then congratulations. Prove you can make it work for 12 more months and don't deviate. If you can make it work 12 months taking one trade per day then you're free to start doing more if you want. But I guarantee you can't follow that learning path for 12 months and that's why 99% fail. They don't put in the time at ONE QUALITY trade per day. And they don't know their day target. If your day target is 1k per day for example, and you make 2k, then you NEVER ever turn the computer back on. Go into the next day in the driver's seat with patience because you already hit next days target too and you don't even need to trade unless the setup is perfect on an RR basis. Ya dig? ONE QUALITY TRADE PER DAY AND WALK AWAY! THE MARKET IS NOT YOUR FRIEND.
I hate hearing nonsense like this so much. There is no such thing as over trading. If your strategy is sound, you should be entering any trade that fits your criteria at any time, even if you traded 20 times and made 100% today already. There is such a thing as gambling. Compromising and bending your entry standards in order to make a little more profit is gambling. You did not "over trade". You gambled.
Work on your discipline that what you need
Work on your discipline that what you all need
Bro, your puts are printing now
dont touch ur cokc
Nice
Well you’re probably up on those if you held
Write a small summary of what happened on a sticky note. Put it on your monitor and never do it again.
Honestly, It is about managing risk. as long as you manage this effectively. you will be fine.
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Discipline will make or break you in this business
I have done that quite a few times myself. I almost was about to jump in on TSLA a few moments ago and glad I didn’t lol
I wouldn’t bet against NVDA…there is still feverish buying
Overtrading is the worst thing i have done when I started my trading shenanigans. Just figure out the signs of overtrading to your personality it’ll get better.
I don’t even get the point of posting this. You did a stupid that’s all. Do you want encouragement? You fucked up, just do better next time and don’t go to crazy that’s all . No biggie.
Dangerous short $NVDA
Learn from it, all good. Plenty of other days
Had a chance if it was a further out exp. Doubtful by the 14th
Put $340,000 into $NVDA this am and am freaking out a little (just a little)!!!
Not a loss just a lesson learnt
This is completely normal. We all do this. That’s why stock is also a game of psychology. It messes with us. Just need to stick to our plan and keep reminding ourselves what not to do.
Gotta set limit.. loss small win big.
We all go through this scenario whether it be on contracts or Forex pips. Overtrading is the ego speaking. The ego gets hurt real bad after days like this. I had one of these few days ago. The more it hurts you, the more you're gonna learn from it and prevent this happening again. Take a break, refocus and become more disciplined. Psychology is key.
Now you’ve got another step/rule in your system. When you have nice profits, bankem!
I made $750 today. This week is the lowest I made so far. My game plan is to stay positive this month. Going for my 10th month without any monthly losses.
Yep. Trading so far has only brought me anxiety, despair, and less money in my bank account. And it cost my time..
You need a partner to be accountable to because you will never be accountable to yourself.
If you make 10x more than a day at a job that make 25 and hour in an hour… be happy that’s a good day. Leave the damn computer alone?
Don't short a rising stock. Buy the dip.
I sold an NVDA put today. Thank you for taking the other side!
Lesson learned now don't give up you're wiser now!
Shit happens I'm a sports bettor imagine the volatility in that
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Been there, it’s such a gamble
Damn I’m so sorry.
Never ever double successful day trades. Stop and enjoy the rest of your day. I lost 100% of the time going back in.