Its odd, but I've had this confidence problem this week. I think it was from having so much confidence on Friday that I spent the weekend feeling good about where I was.
Everyone who has traded for any length of time knows the feeling of getting slapped down by the markets. It feels personal, even though its not. It feels like the markets are making sure you understand who your daddy is, and you must never, ever assume that you can do better than it.
After all, if that were possible then you could make vast amounts of money for simply clicking 'buy' or 'sell' and there is a part of all of us that thinks that that can't possibly be too true -- its too good to be true.
This is real deep stuff, and its probably why there are psychologists who specialize in talking to traders.
I find myself saying to myself "the market doesn't know where you bought or sold and isn't keeping a P&L for you".
I found a setup that's working well. I've added the 30 minute to have another layer of direction. So, I'm using 2,10 and 30 minute charts with stochastics and MACD. I'm 3 for 3 today. 3 times I entered the market and 3 times I came out with profit. Today I was a good boy and didn't stray from my setups. My gross is $87 for the day. I lost about $25 day trading the SPYs. I think that has potential but I have to be persistent.
I guess I'm trying to find the mental handle that will let me say 'I can spot a setup which has a high probability of working' without becoming arrogant about it. Part of me wants to scream at the market "HA! FUCK YOU! I CAN BEAT YOU!! I CAN FUCKING WIN!!!" but I'm scared that it will hear me and it will stop working. Isn't that strange?
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