Is it possible to feel no emotion when you win or lose a trade?

This is a discussion on Is it possible to feel no emotion when you win or lose a trade? within the Psychology, Risk & Money Management forums, part of the Methods category; I went to a paid seminar a while back with Steve Ward - Mentor to many supertraders and author of ...

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Old Sep 19, 2014, 10:40pm   #17
NVP
 
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I went to a paid seminar a while back with Steve Ward - Mentor to many supertraders and author of "high performance trading"....

he actually spent a lot of time talking about how stressful trading is and therefore you have to train mind and body to handle it ..........we also watched a lot of stuff re the SAS and special forces and SWAT teams training where they visualise and condition themselves to handle stressful situations.day in day out

practice , execution , practice , execution, repeat , review , repeat review.........the more such things are trained and visualised and simulated and indeed real time actioned.....the more they become part of what you can do all the time .............you will never ever get 100% used to it but you will do it a damn sight better than not doing it much at all

after the session he also confessed that many of his clients suffer from incredible fits of depression , uncertainty and fear even though they are "masters of the universe"...........and that's where he and other support teams step in to patch them up

so don't get too upset ....it happens to the best of them it seems

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Old Sep 20, 2014, 2:34am   #18
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You have to forget what worked and what didn't work each day. The market changes all the time. A setup that made you $1k last month doesn't guarantee you'll make $1k this month or $12k in a year. I take trading one day at a time. Once 4PM comes, I drop my emotions on the day. I'm not going to be eager to trade ABC the next day because I made $100 on it today, and I'm not going to ignore XYZ because I lost $100 today on it.

Emotions are natural, just learn to start each morning neutral. Take it like football. You beat one team 30-10. Does that mean you continue to use that gameplan the following week against an entirely different team before taking the time to evaluate the new variables?

Good emotions are just as bad as the bad ones. For example, I lurk a chatroom with a ton of newbie traders. They've been making a pot full of gold on the recent IPOs. BABA is the largest IPO ever. They were so boosted on confidence and CNBC loves it and it's going to the moon. Half of them going all in on their accounts at open around $94-96 and could of made some profit, but they didn't sell. They let winners turn into losers and held it all day thinking it's gonna run to $100+ and make new highs. Some got out in $90s. They completely lost grasp of everything because of positive emotions. I bet half of them won't even be back on Monday.
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Old Sep 20, 2014, 12:30pm   #19
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As a relative newbie, no I can't rule out emotions. I agree familiarity and repetition help reduce it as does scaling all risk down, but until the pot grows scale remains. Maybe we should ask how long does it take to reign in your emotional response? X years, y trades, or is it better to shift your trading style? My time is limited for trading so I have to hold overnight and weekend but have grown more comfortable doing that with time and repetition, but its sometimes still a rollercoaster - but then isn't that part of the rush...?
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Old Sep 20, 2014, 1:42pm   #20
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there will always be emotion.you have to come to accept wins or losses as you improve as a trader.
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Old Sep 21, 2014, 3:10pm   #21
 
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Great Post
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Old Sep 22, 2014, 12:37am   #22
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Quote:
Originally Posted by Sharky View Post
We're taught the the psychological aspect of trading is extremely important. That you need presence of mind and discipline to stick with previously established trading plans and know when to book profits and losses.

We're told that emotions simply can't get in the way. But is it really possible to feel no emotion when you win or lose a trade?
No, I don't think that's possible to have no emotions at all, but what you can do is to control it.
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Old Sep 23, 2014, 2:32pm   #23
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Quote:
Originally Posted by peeterwoolf View Post
No, I don't think that's possible to have no emotions at all, but what you can do is to control it.
Which leads to the question... how? Which methods have you found effective?
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Old Sep 23, 2014, 4:41pm   #24
 
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The years spent dampening my emotions has helped (but not entirely eliminated) high & low stresses of daily trading. However, for me, this does have repercussions in everyday life. I now cannot get enthusiastic or despondent about anything.

Okay, nothing fazes me now, but nothing excites me either. What used to be in a range of absolutely superb ... to ... devastatingly awful. Is now, "not bad" through to "had better"
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