Doug: Good post and again good realizations. Greed cost me much as well. Had a nice $3000 gain that turned into a $17000 loss because I went back for more. Whenever you see me do this, I will most likely disappear for a day or two while I try to psychologically analyze myself to see why it happened and how I will prevent it next time.
When I started this thread I wanted everyone to know that trading doesn't change whether you trade 100 share lots or 10,000. It is the same lessons, the same multiples, and the same discipline is needed to do well. Some of us trade with $50,000 accounts, others with $2,000. Only the multiple is different, 10% is still 10%. I myself this year am scaling back my trading account by $10,000 to $20,000 to keep myself "honest". If we have done well, we must remember where we have come from. If you started with $2,000 and now have $20,000, do you really need to trade with all of it. Pay Uncle Sam, by the wife something nice as you no doubt have taken some time away from her, buy something for yourself and justify in your mind what you have accomplished. I see many that start with $10,000, work it up to $50,000 only to end up at $10,000 again because they changed their discipline because of their past success. It is hard not to do.
RealTick III is said to be the best, and I was within one click of getting it. The fast executions of a good trading platform would be worth the price alone. Good luck with it.
You are not in the wrong league, we are all in the same league here and with only one goal.
Agreed, lets do well.
Happy New Year.
TJ |
