Having given back all gains from the beginning of the year then taking losses, I feel like I am stuck. The emotional toll of being a value trader -- and then deciding to cash out to protect losses (and thereby selling near the bottom) has hurt my confidence.
I am quite sure I have solidified my trading strategy as a swing trader, using charts to denote times to enter or exit the market.
I did not use clearly defined risk management skills. I remained far too complacent as the signs stacked up for a correction.
I need to let the past go and not fear missing out on a new rally or remaining in cash until signs show I should reenter. I need to be willing to put cash to work as the signs emerge that the markets can push forward.
This is a long race. The main thing is to learn from each new mistake and rise anew.
It's time to focus on the next step now.