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September, this is normal! Lol! My portfolio is (80k) in the last two trading days! I am buying more and have had some good hedge trades, which I know will do well! Remember - Everyone is a Warren Buffet in the bull market! The top 1% can make money in this market, too, so yes, if you match S&P, you are a decent trader. NOT great; just work on how to become cold!
It’s tough brother but losing 5K isn’t so bad in the grand scheme of things (esp considering you’re at mck so you’re doing just fine). I Quit day trading because of this reason. Switched to being a long hold investor. I sucked at it and was sick of losing money. I also don’t have the time and bandwidth to keep up with the market on a minute by minute basis.
It actually sounds like you don’t have the risk appetite for what you’re doing. If you expect to only make gains, and you don’t truly understand the way the market fluctuates throughout the year and over the course of 3/5/10 year cycles then you shouldn’t be actively trading.
Aug-Oct are notoriously volatile and especially in an election cycle. If you’re trading money you can’t afford to lose then you are also doing that wrong.
You need to balance your stable long term investments with your risky investments. Max out your long term and then if you have money left to play around with then actively trade that. But it shouldn’t be more than you’re prepared to lose. And maintain a consistent strategy. Don’t just chase trends and market highs. You should be able to ride the waves without panicking.
I feel the same way. All the time and stress of it all is not worth it to perform at best that of index fund. I’m contemplating having fidelity manage for a fee to boot. The only thing I’m giving up is all the decisions which for this control freak is unappealing. I don’t know what I’ll replace all this time invested in watching the market with either which is also a bit scary. I agree with the bull market comment and feel that if these couple down months in the last few years have us feeling this way, we are not cut out to trade in bear markets at all
If you are emotional, you are either (1) inexperienced or (2) risking too much. Do you have a trading plan with a risk size?
1) it's not unusual for most people to be unable to beat index over long term. Why? Because sophisticated investors can't either.
2) why 5k sounds big, it's more of a question of your overall portfolio. Take a look at daily average fluctuations. If your portfolio is $1M, a daily swing of $10K is normal.
If your portfolio is $50K, then maybe a $5k swing is tough, but could also be normal based on your risk
3) trading is not a straight upward game. You have to know that you'll win 55-60% of your ideas. That means you can lose a lot too