The Turning Point

[sunspore 6]

I have been day trading for about a year now. I started off by taking TraderDNA by SMB Capital, and followed that up with their Winning Trader course. Both courses were excellent and prepared me for the discipline and rigors of getting started as a trader. After trading in a SIM for a few months, I went live in August of 2020. I immediately started losing money and scaled way back to only risking $5 per trade. I worked on my process, journaling and daily trade reviews, weekly and monthly reviews, developing my playbooks, etc. From September of 2020 to February of 2021 I made money each month and increased my risk a little each month as well. Something happened in March of this year. All of a sudden I couldn't win a trade. March was a terrible month. I gave back all my profits from the previous 6 months. It wasn't catastrophic by any means, financially, as I continued to bet small and increase size very slowly. However, it has been catastrophic psychologically. We are now halfway through April and I am still in the same funk. Realizing I needed a support system/community, I joined bearbulltraders. I got onto the DAS Sim. I am reasonably comfortable with it now and am back to my daily trading routine. But I'm still losing. I feel like my process and trading system is in a state of total disarray. I'm very discombobulated and frustrated. I'm wondering if over the past year of work and study I have taken on so much information and so many ideas that it's just overloading my circuits. 

The point of this post is that I suspect I'm not the only one to go through this. Looking back over the past year, I believe I have put to much importance on P and L, and not enough on my development. 

I would love to hear from consistently profitable traders who went through this type of situation and came out the other side. What was the turning point? What did you do get back on track? What was the biggest change from consistently losing to consistently winning? How long did it take? 

 

Drew

[sunspore 6]

I struggle with confidence in my trades, which effects my entries, exits, and trade management. When I'm watching a setup, I never feel 100% confident that it's a good opportunity. And you?