Tuesday, March 17, 2009

The trading gods hate me

I was able to make my monthly goal during the first few days of March. After an awful February, I thought it would be nice to sit on my winnings and trade with a simulator to test some strategies. I found a strategy that was working very well. Yesterday the strategy was up over 8R.

I decided to do some more testing this morning. The market opened kind of scratchy anyway. So I took several trades to test out how the strategy performed right after the markets opened. I found out it performs quite terribly. After losing a bunch of "sim" cash, I decided to switch back to my real account and take a trade on SPY.

I found out switching was unnecessary, because I was ALREADY USING REAL MONEY!!! I had forgotten to switch the account and took hit after hit using my real account. I felt sick.

The rest of the day was spent trying to earn back what I had lost. This never works, and it didn't work this time. I added another 500 bucks to my losses.

Of course my father called after the market closed. He really doesn't understand what I'm doing as a trader. He asked me how things went for me today because he assumes that whenever the market is up I make a lot of money. I didn't have the guts to tell him that I'm a moron and I lost a bunch of money while I thought I was pretending.

They say a loss hurts much more than a win feels good. They are right.

1 comment:

Anonymous said...

S.C., You just made a small mistake, don't beat yourself up, it could happen to anyone!