It was another disappointing, flat month for the team at uglychart.com.

I made over 100 trades this month, which seems a little high and my win rate was only 41.9%.
Especially after such a strong start, it was hard to see my account go into the red. The one good thing, though, is that it really forced me to think about everything very hard. And from this, I was able to change my system into one that works and feels better for me. After a full month of trading this way in November, I will have a better idea of how well this new style works.
It is amazing all of the obstacles in the way of a trader. Emotions, styles, charts, strategies, luck, etc… You really need to juggle and balance them all in your favor. It is so easy for one to slip without your notice - until you can see it in your results.
And that is just trading - your “other” life needs to be steady as well or it could rock the boat and cause your trading to suffer.
Managing yourself while trading is kind of like caring for a manic-depressive patient. You need to be careful not to take things personally, and always try to look at things realistically. You need to be calm, patient, thoughtful, strict - the list goes on and on. It’s a great job, but it isn’t easy. It is really hard, but that’s one of the things that I love about it.

This entry was posted on Tuesday, October 31st, 2006 at 7:35 pm and is filed under trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.