{"id":566,"date":"2009-05-06T16:23:51","date_gmt":"2009-05-06T21:23:51","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=566"},"modified":"2009-05-06T16:23:51","modified_gmt":"2009-05-06T21:23:51","slug":"how-should-i-respond","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/how-should-i-respond","title":{"rendered":"How Should I Respond?"},"content":{"rendered":"

I received the following email from a consistent reader of SMB Blog. \u00a0As way of background, this developing trader is an accomplished musician. \u00a0And when I say accomplished, I mean 10\/10 randomly selected people would know who this gentleman plays with (but sorry we are not giving away this info). \u00a0I would like to try something new on this blog. \u00a0Please read the email below and for those interested, post your advice to this developing trader. \u00a0Tomorrow I will offer my advice.\u00a0<\/p>\n

Hi Mike –I wrote to you last week (the DNDN day) after I’d had a rip after a string of profitable days. I subsequently had four consecutive positive days in the 3-500 range. I was feeling solid.<\/p>\n

I mentioned to Roy that since mid-April, when I discovered your blog and came to visit in NYC, I’ve had an about face in my trading. Not only was I positive 12 of 13 days, I was getting fee rebates because I was adding liquidity to over 80% of my volume. I made graphs in Excel of my days trades and they formed (mostly) steady upward trending lines. I looked to find my weak spots in the day.<\/p>\n

Then, today, I lost it. My demons took over. I reverted to sloppy bad habits. I got big. I held losers. I was in multiple positions bigger than I should have been. I wanted so badly not to finish in the red, that I made things much worse. Today I did not behave like the trader I have been the last two weeks. It is a disgusting feeling. An overwhelming feeling of shame and waste.<\/p>\n

I was just beginning to feel like I could see the light at the end of the tunnel. Not that I had mastered anything, but just by absorbing all I have from your blog, site, and approach to trading, I had made a turn for the better. And I hadn’t even started the training program<\/a> yet.<\/p>\n

I have this awful pattern: I work up small profits a few days in arow. I build on that. When I get up a certain amount in my account, I have a day where I lose it. My number 1 issue is not so much that I can’t make money, it’s that I can’t keep it.<\/p>\n

I did so much wrong today, and to add insult to injury, the stock I lost the most in was MGM…and then I read the blog and realized I gave my money to Steve.<\/p>\n

I guess if I’m leaning towards a question here, it is this: when you were in your first months trading and were down large, how did you finally turn it around? \u00a0Did you ever feel like it you couldn’t do it?<\/p>\n

I am very much looking forward to learning from you guys. I feel like I can be great at this. But I was a disaster today it cost me. My last two weeks said I had promise. Today said get out of the casino. Thanks.<\/p>\n

Best of luck with your trading!\u00a0Don’t forget to follow us on twitter<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

I received the following email from a consistent reader of SMB Blog. \u00a0As way of background, this developing trader is an accomplished musician. \u00a0And when I say accomplished, I mean 10\/10 randomly selected people would know who this gentleman plays with (but sorry we are not giving away this info). \u00a0I would like to try something new on this blog. … Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[4676,30,18],"class_list":["post-566","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-day-trading","tag-prop-trading","tag-smb-capital","no-post-thumbnail"],"yoast_head":"\nHow Should I Respond? | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/how-should-i-respond\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Should I Respond? | SMB Training\" \/>\n<meta property=\"og:description\" content=\"I received the following email from a consistent reader of SMB Blog. \u00a0As way of background, this developing trader is an accomplished musician. \u00a0And when I say accomplished, I mean 10\/10 randomly selected people would know who this gentleman plays with (but sorry we are not giving away this info). \u00a0I would like to try something new on this blog. ... 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