Yesterday was another frustrating day trading. I lost around $160 and with commisions, it will be more like $300, ouch! I had similar loss the day before. I cannot sustain this level of bleeding for long. I am very pessemistic and quite frustrated with my track record day-trading. Looks like instead of November, I will be out by the end of September. If I do not make $1000 in at least one day in September, I will dramatically curtail my trading.
I am not exactly sure how to fix my trading problem. There are several possible reasons,
(a) I am not able to control my emotions. As such I make very poor decisions.
(b) My trading set-up is not working properly. The resistance points and reversal points are not properly identified.
(c) I am not harvesting profits appropriately.
(d) Most importantly, the win-loss ratio is out of whack.
The bottom-line is that I need to see dramatic improvement in my trading record otherwise I am out of the business sooner than later.
