Another live trading day yesterday (2nd Dec). Unfortunately another losing day. A scratch on Cable, as well as a small loss and a full loss on oil. Though the day did not feel as mentally tough as the previous day. It’s only the 2nd day of trading live since the break triggered from the real low I hit in mid November. Unfortunately even two losing days where I hit a single winner in 8 trades (as well 4 losers and 3 scratches) already is taking a huge toll on my mental state. Already now I have started to feel very unhappy and this has led to me doubting my skills to analyse the chart or to do anything trading related. I have realised that the last two days – the only two days on which I have traded live in 3 weeks or so – are probably also the two days on which I was most unhappy and most angry. Why do I bother?
Maybe this situation is indeed due to psychological issues that are going on in my brain, and have less to do with my technical abilities as a trader. I don’t think that I will make it as a trader. I simply don’t have the mental strength that is required.
[Noted added 27/12: This was effectively a Trader Shut-Down. See Nov12 post for more discussion on this. Bear in mind, that if I lose hope as a trader – i.e. if I doubt that i will ever become successful at it – which is the way I worded it above on that particular day, then my motivation and energy levels will drop very quickly. A loss of hope is a grave problem. ]
Update: It was good to have a good chat with two of the colleagues in the trading office sometime after writing the above post.