When the plan works brilliantly but you are shi** at implementing it.
KillPhil08
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Automate It.
JTrader
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non possibler!
KillPhil08
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Teach someone else to do it for you?
wasp
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paper/demo/small stake trade it till...
You have stats to prove failure won't happen.
You are perfect on the exit triggers.
You have no doubts on your entry.
Also implement a risk strategy so you are out before the reason to fear appears (ie, walk away for half hour if 4 losses in a row).
It sounds a simple, classic case of, an under tested plan.
Do anything but trade full size amounts until you are 100% it does and will work, as until then, you are just going to continue having these problems.
JTrader
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What if all the above paper trading & evidence gathering has already been done?
wasp
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Obviously not properly, as, if it had been, you wouldn't be having doubts or problems implementing it.
jiggly
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well if you know what is going through your head at the critical moment and you buck the system. then take the necessary steps to identify these emotions when they surface, realise them as what they are and work around them.
you are cheating yourself otherwise.
you are cheating yourself otherwise.
wasp
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It would be a lot easier on you if you had (solid) belief in the reasoning and then you wouldn't require advertising slogans.
JTrader
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the reasoning and belief are present. The mouse skill leaves something to be desired.
counter_violent
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Would limits and stops not take care of it ?
Bladerunner
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Hi J
http://www.trade2win.com/boards/tra...rol-your-emotion-high-low-during-trading.html
"I can only agree with all the above, all great information.
I don't think you can nor need to surpress emotion, just make it irrelevant.
Personally the clincher for me was proof. Even after the years of backtests and then demo trading, I was still messing up constantly. I would take my profits earlier than my plan suggested and not cut my losses till the last second and hesitate taking trades or over leveraging.
As said before, trading is a business and after some serious weekend debate with myself and Mr Artois I settled on 2 options. Give it up or just do it. Correctly, properly and like the business it is.
Once I started my journal and traded the plan; to a tee, no questions asked, no second thoughts, no care nor attention paid to anything but the plan, it all came through. Another problem I always had was thinking too much! Despite all that happened and despite what the backtests showed I didn't have control before. As soon as I finished that month I had proof, in black and white and in my bank account that 1) I could do it, and more importantly 2) the plan I had devised, worked.
Since that point I have not had a problem. Nowadays to me, every trade now is akin to pulling a pint in a pub or answering the phone in a call centre because I know it works, and that proof was all I needed. I know the plan works in real time and backtests show my maximum drawdown expected so now I really don't care. Some lose, some win, sometimes I'll have a good run and sometimes a bad one but I know it always works out in the end. Now I just turn on, press the buttons when applicable and then turn off again, that simple. Only If I doubled my max consecutive loss run would I even slightly consider looking at my trading plan in more detail again.
I strongly agree with what timsk said; devise a plan, test the plan and then, IMHO all you need is to prove the plan. Once you can do all that, as long as its proven succesful, there is no need for emotion, you just get up and go to work and spend your days surfing the net in boredom like any other job.....
Just my 2 cents
__________________
The greatest trick the Devil ever pulled was convincing the world he didn't exist "
hope you don"t mind me lifting your post Wasp, its a very good one me thinks
..:: DO NOT TRADE ON ADRENALINE © ::..
rols posted this the other day J you might find something in there that requires attention perhaps
http://www.trade2win.com/boards/psychology/25661-confidence.html
mr marcus repppy pt in there
must re read my own advise , sorry for all the graphics ~ was going through one of my visual periods at the time
pm me if you require more head box links and perhaps ask BSD for a few pointers, he as the worlds largest link bank
all best with it
Andy
http://www.trade2win.com/boards/tra...rol-your-emotion-high-low-during-trading.html
"I can only agree with all the above, all great information.
I don't think you can nor need to surpress emotion, just make it irrelevant.
Personally the clincher for me was proof. Even after the years of backtests and then demo trading, I was still messing up constantly. I would take my profits earlier than my plan suggested and not cut my losses till the last second and hesitate taking trades or over leveraging.
As said before, trading is a business and after some serious weekend debate with myself and Mr Artois I settled on 2 options. Give it up or just do it. Correctly, properly and like the business it is.
Once I started my journal and traded the plan; to a tee, no questions asked, no second thoughts, no care nor attention paid to anything but the plan, it all came through. Another problem I always had was thinking too much! Despite all that happened and despite what the backtests showed I didn't have control before. As soon as I finished that month I had proof, in black and white and in my bank account that 1) I could do it, and more importantly 2) the plan I had devised, worked.
Since that point I have not had a problem. Nowadays to me, every trade now is akin to pulling a pint in a pub or answering the phone in a call centre because I know it works, and that proof was all I needed. I know the plan works in real time and backtests show my maximum drawdown expected so now I really don't care. Some lose, some win, sometimes I'll have a good run and sometimes a bad one but I know it always works out in the end. Now I just turn on, press the buttons when applicable and then turn off again, that simple. Only If I doubled my max consecutive loss run would I even slightly consider looking at my trading plan in more detail again.
I strongly agree with what timsk said; devise a plan, test the plan and then, IMHO all you need is to prove the plan. Once you can do all that, as long as its proven succesful, there is no need for emotion, you just get up and go to work and spend your days surfing the net in boredom like any other job.....
Just my 2 cents
__________________
The greatest trick the Devil ever pulled was convincing the world he didn't exist "
hope you don"t mind me lifting your post Wasp, its a very good one me thinks
..:: DO NOT TRADE ON ADRENALINE © ::..
rols posted this the other day J you might find something in there that requires attention perhaps
http://www.trade2win.com/boards/psychology/25661-confidence.html
mr marcus repppy pt in there
must re read my own advise , sorry for all the graphics ~ was going through one of my visual periods at the time pm me if you require more head box links and perhaps ask BSD for a few pointers, he as the worlds largest link bank
all best with it
Andy
Last edited:
Glenn
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Keep a detailed log of every trade, even simulated ones.
For each trade note what you did right and wrong - honestly.
Over time you will see repeated errors.
Then you can see the problems and start to tackle them.
Your log is like your manager looking over your shoulder, which you need when working alone imo.
You have to be tough on yourself because no-one else will.
Nothing good is ever easy.
Glenn
For each trade note what you did right and wrong - honestly.
Over time you will see repeated errors.
Then you can see the problems and start to tackle them.
Your log is like your manager looking over your shoulder, which you need when working alone imo.
You have to be tough on yourself because no-one else will.
Nothing good is ever easy.
Glenn
barjon
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yes - and if there is a heavyish dose of discretion involved, it should include potential trades,entries and exits as well as actuals (only those where decisions were made though!!).
good trading
jon
fibonelli
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Hi JT,
“A very successful hedge fund manager recently told me that his project for the next six months was to increase his trading size. He never risked more than 0.5% equity on a trade – and was going to teach himself to risk 1%. Good traders tend to stay well below the 2% limit” Alexander Elder
Regards
Fibonelli
“A very successful hedge fund manager recently told me that his project for the next six months was to increase his trading size. He never risked more than 0.5% equity on a trade – and was going to teach himself to risk 1%. Good traders tend to stay well below the 2% limit” Alexander Elder
Regards
Fibonelli
