Normally I just jump over the fence and grab 'em before the neighbour notices!
(Seriously. Bring it down a lot).
new_trader
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There are only 3 things you need to know in trading.
1) When to go long
2) When to go short
3) When to abstain
You don't need 'balls' (To trade!), you need to know what you are doing. When you know, you will see that volatility is a term that only ill-informed or inexperienced traders use.
Trading should be boring, and we need to stick to a pre-determined game plan no matter what's happening in the market. We can't drop the ball; or lose them! We just need to pick them back up and follow defensive strategies.
(And I know, this is all certainly more easily said in theory, than done in reality)
(And I know, this is all certainly more easily said in theory, than done in reality)
mechtraderpro
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- Speaking as a eunuch, if you find them ! Can I borrow them for a while!
- Speaking about volatility, ...What volatility ?...oh no another can of worms !!!!
Windowsill
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Need to look at you trading more "close":smart:....most traders like volatility......what time frame/s are you using?
Agreed. A person can only go with the flow, a person may have to change thier mind in an instant. It may be the hardest part of trading to realise that what applied one minute ago does not apply now. People like to know where they stand in life, they have plans, savings, pensions etc.
Trading couldn't be further from this, you are always in a state of limbo to some degree, it holds you in a place that's not 100% comfortable, i suppose it takes a certain kind of person, you get used to it.
take a few days off and get yourself togther. its easy for guys to say just reduce your size or give you all sorts of info that sounds ovbious but in reality when your balls are gone yo need T-out. there is a saying when a dog is cornered it is most dangerous. the same concept applies to us traders, when you lose your balls you are going to be dangerous in the markets. week before last i had such a fantastic week i just lost control ( over confidence). funny though on the weekend i even said to myself take a few days off but i didnt listen to myself and on monday i took myself to the cleaners. after that my balls had officially left the building. normally i take a week off but i dont normally screw up like this so in order to build my confidence back i pretended to trade for the remainder of the week. i also spent the whole week analysing why i screwed up so bad and it all comes down to money... when i dont think about the money and just concentrate on the setups i do very good, even in this chaotic market. as soon as i think about the money i get myself into trouble.. as said a few threads up " i have seen the enemy and it is me" ... i think i have come up with a good solution though. i am trying make the compounding account growth a technical part of my trading. i only intend reviewing my account size every 3 months. luckily my broker platform allows me to remove my p/l so all i see is open positions and orders pending. i think a big problem with many traders is thinking of how much money can i make or lose.. if you plan your risk properly and then just concentrate on the setups and markets you remove this human factor that tends to be a downfall. well for me anyways ,. perhaps you have the same problem?
DaxDestroyer
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Cut the size and have always a daily stop loss in place. At least that does it for me.
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