Oh yes, plogy and self command is everything from trading. Even in the event that you exchange with EA's, and even in the event that you invest in some finance, you are still deeply influenced by your biases. And as soon as you lose control you can get into trouble. With trading one day you might feel like the master of the universe, the following day the sky is falling. It happens to everybody. Its part of the sport, or as they say occupational danger. On this subject I wrote a couple of things in 2015 here. You...
Nice. . I know all that, I'm struggling with the HOW. . ;-)
quote Thank you... I just can't stand myself for not making the most of those good days. . .and then watch myself struggling the day to make a profit in a challenging market. Ivo
This is where you need to stop beating yourself up for not being perfect. Few people are!
You do not need to spend the max out of each transaction and grab every opportunity that comes your way, you just need to do well enough. The market will offer you an endless stream of possibilities and also you just need to take out everything you need to keep you happy. It does not really matter if today you end up taking 2 points move, there will be another chance along soon and you'll be able to attempt to do with that. The point is to keep plodding on, attempt over and repeatedly - for you if nothing else - you will get the job done out of luck.
The key - and sorry to repeat - will be to control the risk. Do not let regret, fruion, revenge get to you. Just keep taking the transactions with care and control, and work at becoming better. Perfection you can happily leave to someone else, you need to be good.
If I took all my good opportunities anywhere near perfectly, I'd have reserved my total target profit for the year already by now. I have not, but I am happy to continue trying and I am not beating myself up. Nor should you.
quote Hi Ivo, This is where you have to stop beating yourself up for not being perfect. Few of us are! Grab every opportunity that comes your way and you don't need to spend the max from each trade, you have to do enough. The market will offer you an endless stream of chances and also you need to take out everything you need to keep you happy. It does not really matter if now you end up carrying 2 points move, there'll be another fantastic chance soon and you'll be able to try to do with that. The...
Thank you for your kind words. I really do think I need to have the ability to let it run if there is really no reason to shut. That is where the money is.
Doing ok today, 62 pips so far while high minus low is 65 pips right now :--RRB-
I have been trading for quite some time. No problem to learn what's happening, I generally read the day. I notice I have some bias... when the day is easy and my profit is small or reasonable I do not wish to take the risk to lose it. I do not although I should make a killing on those days. I really don't trade or simply very small, taking fast profits although I know I should let it operate. On the flip side, once the day is tough, some are lost by me, I need to compensate for it. Start. . .and larger. It is ridiculous, my motivation seems to be...
to start with, you should realize that losing is part of this sport. The principle of not trading following losses is an important detail in managing your risk.
In order to become used to this rule, make small pauses following losses, then more and more until you achieve that during a pause, then you fully restore your moral advantage.
Should you exchange profitable, then I see no reason to force yourself to exchange more than comfortably.
Comfort is first of all.
Of course they influence, I would say they very strongly influence the trader. Since traders may be selfish, and because of which are suseptible to such manipulations.
Well it's largely self-deception. . There is just this huge bias in me to exchange excellent upportunities very little and do all or nothing when fighting the market and trying to proof myself.... Whereas actually the best opportunity is at the start of the day for example I also start the day very little. . It's a work in progress and there is progression albeit slowly
I've been trading for quite a while. No problem happening, I generally browse the day well. I notice that I have some prejudice... if the day is easy and my profit is small or reasonable I don't want to spend the risk to lose it. I need to make a killing on those days but I don't. I really don't trade or simply small, taking quick profits even though I know I should let it run. On the flip side, when the day is hard, I shed some, I want to compensate for it. Start. . .and larger. It is foolish, my motivation appears to be...
if u continue trading, following 3-5 years u will come to my own words. U either learn by performing [u might neglect at d half way n quit] or u get assistance
if u cant bring together egy direction mental it wont work.
Most attempt by their particular n neglect
so d reason brokers spend their 1/2 earnings to find new customers
quote Well it's largely self-deception. . There is just this massive bias in me to exchange excellent upportunities very little and do nothing or all when battling the market and trying to evidence myself.... Whereas actually the chance is in the start of the day for example I begin the day very little. . Anyway, it's a work in progress and there is progression albeit slowly
You poor man... You need to feel like a wealthy man. You allow the market beat you down and get inside your mind. But the market is a reflection of self.
Mr.brown was just kind enough to provide you the golden goose. You ought to thank him.
That is good to read here that all people struggle these battles. I've traded with account today. I am on the plus side, but I have taken a drawdown up to 25 percent and then back up to 25 percent from my initial account size and now I moved back again 10 percent from my last win, so I am about 12,5 percent atm, but I am learning so much in this procedure. I've learned much about myself and I've begun to discipline myself so much more. I've changed some of my egies to count the trades acceptable or losses acceptable, as wins may go so long as they're going. My risk management needs some work, but I am fairly strict just occasionally I lose plogy and it kicks in. And occasionally I just need to try out some new stuff. Usually I lose and then I promise myself to not do these things again. I'll continue trading as I find it a really wonderful little hobby to possess
Can anyone recommend some exercises some ritual to battle this?
There are some very good replies to date IMHO, but I'll add my 2 pennies worth:
First I would try to recognize the origin of your anxiety: Can it be fear of being incorrect, or is it the money? (Perhaps the easiest approach to find out would be to put a couple of demonion trades, where there's no money involved, and test your reaction). Then downsize your rankings to a place when it's the money that is the problem. If your egy allows it, then make as many choices as you can in the point of entrance, when your emotions are compelling.
Second, I would determine exactly what elements of your exit egy could be automated. Then a monitoring or TP SL might suffice if the exit rules are simple enough; if more complied, like scaling outside, then you can use an EA to perform the rules. Then walk away from the computer, where you can't possibly interfere. Unless your exit egy demands that you consider new info (example: new S/R levels or candle patterns forming) as your commerce evolves, then there's no need for you to be in the pc. Of course this means that you miss new entrance setups, but you have to weigh up this and decide whether it is worthwhile or not.
Finally, you might prefer to find yourself a trading buddy, somebody with a comparable enough egy, philosophy, timetable, and native language, and who is also humble and honest, so that it is possible to work efficiently and harmoniously together. The notion is that you encourage each other, keeping each other favorable, motivated, disciplined and accountable, perhaps to the point where your exits require a decision, if necessary. Also, two heads are often better than you, when it comes to spotting price action and behavior. Appliions like Skype allow free communiing, and display sharing, anywhere across the world, and there are 470,000cliqforexassociates for you to choose from, as a beginning point. In case you have a profitable egy, and are prepared to discuss it with a trusted person, then there are thousands of aspiring traders around who will be delighted to learn as your partner that is apprentice. You could start a thread here soliciting candidates, specifying your needs.
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