Well it's normal that traders have good and bad runs, but today I asked myself (like in old times), where is the edge? We had the discussion with Cassini. He has the opinion that there is (almost) no chance for a hobby punter with an average internet home access (no courtsiding) and normal information to make money. Okay, it's just one appreciated opionon of many, but my sceptism is coming back. Is it really possible to make money from home (against the big fishes)?
I am happy not having the pressure to earn my money with trading. It's really frustrating to have these kind of days. If you need the money for covering the daily expenses, it can be really stressful.
I don't know the exact reasons for today's failure. Was it bad variance? Was ist overtrading? Was it bad knowledge? Was it mix of all? It's difficult to say with just five trades. You need a big sample to judge strategies and your trading level.
Well, I recognized that my stakes are still too high for not proved strategies and knowledge. Obviously you can't earn big moeny with low stakes (and the opportunity costs are even higher), but for testing the strategies is better. I didn't lose a fortune, but it's still too much to be not angry and disappointed.
I talked about scaling up the stakes if the strategies work. Thanks to the great liquidity at tennis markets this would not be a problem. I decided to lower my stakes by factor 5 (max risk per trade 20 Euro). For learning and gaining trust, it's unfortunately the only way. Sultan talked more than once about this topic at his road to become a successful trader. First you have to trade consistent, second you can rise the stakes.
Let's see if I can make profit one day. If not, it's not the end of the world. In 2 1/2 weeks I will start my new job, where I earn good money with less stress. I see trading as a hobby, it's a a great competition against other people. The minium target has to be not losing money!