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A few thoughts:
When I get in this kind of rut, I take a few days or a week off. I get totally immersed in something else for awhile. Frankly, this kind of streak doesn't happen to me anymore, but I did three important things, 1) I simplified. My trading tactics are discretionary (with some simple mechanical style rules to define a setup) but they are simple. 2) I learned to be patient. Over the years I have learned that if a setup isn't just right, you don't take it. 3) I have broadened my perspective. 15 years ago I never looked at anything beyond a five minute chart. Now, my most productive trades come off of the hourly and daily charts. Don't get me wrong.... I still like to day trade, but only if they set up right. Two minute bars, particularly on something like the S&P will wear you out in nothing flat. Too many decisions and no room at all for error.
Stop jumping around. You obviously are a discretionary trader. Instead of flitting from method to method.... learn how markets work. I use 1 oscillator (over several time frames) and a bar chart with volume for about 90% of my trading decisions. If you trading off of two minute time frames and don't understand the tape and how it works.... you are just asking for it.
Stop trading the S&P. There are tons of markets that set up beautifully. Bonds trade in a rational manner, there is plenty of daily range to work with, the fills are wonderful. S&Ps just aren't the place of most of us. I hate em. I don't trade em and don't have any desire to trade them.
As for your order entry problems.... solve them. If I had a broker that I couldn't get in touch with, he wouldn't be my broker very long. I constantly hear how unreliable e-trading is..... I wouldn't put myself in the trap for any amount. If you don't take your trading seriously enough to ensure that your orders get through, you simply shouldn't be trading. I not only enter orders through phone, but I have alternated numbers and cell phones and etc.. etc.... etc.... I have always had at least two ways and sometimes have managed to have three ways to get out. I have always kept alternated order entry and contact numbers for my brokers.
Good luck. Remember that there are others that have been there and done that and lived to make it work.
Stewart.
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Help! The trading demons are out to get me! I am in a terrible rut! Everthing that could go wrong has. I havent had a winning day in weeks. When I have gotten into a bad streak, I papertrade, I read Van Tharps stuff, I follow all of the Psychological crap out there to get my confidence back, then when I go to place the first trade, following my rules, I get a loser. No big deal, confidence is still up so I wait for the next setup, take the trade, and of a course a loser so I dont take the next trade which is the winner. The next one I take is another loser. Or just when I get into a trade, my ISP goes down or my computer locks up. This never happens when I papertrade! Or today, I decided i would trade the mini SPOO to get my confidence back and PMBe is having problems so I missed 3 trades and had a winner turn into a loser! I have tried 4 different brokerage firms and obviously that is not the problem. I have been doing this full time for seven months and am negative big time! What should I do? I unfortunately have done the incorrect thing and jumped to another system or approach when one failed, looking for the Holy Grail. I know its not there but I have this glimmer of hope that it is. My system now is very simple and relies on "reading" 2 minute candlesticks and looking for reversal patterns and support and resistance points. I use Stochastics as a basis to assess divergence. Pretty simple stuff yet I cannot win. Please Help! Gary Kramer
Stewart Taylor Taylor Fixed Income Outlook Voice: 501-219-9774 Fax: 501-228-0963 E-Mail: staylor@xxxxxxx Web Site: http://www.cei.net/~staylor/
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