Discipline for the pushy

[FX Bandit]

I no longer approve the post

I heartily reccommend this post.

 

[oildaytrader]

The beaver is struck ?! .......why did the beaver get struck ?

Through fear and greed ,fear overcomes the beaver, this when Beaver closes his position at a loss.

 

[Prawnsandwich]

Through fear and greed ,fear overcomes the beaver, this when Beaver closes his position at a loss.

Wow deep maan.....fear overcomes the beaver..so the question is Oily - are you the beaver...or are IS THE THE BEAVER WITHIN ALL OF US......

 

[FX Bandit]

Thanks Prawn .

 

[Prawnsandwich]

Ged it.Trader goes in for the trade with 20 % of his account at risk, due to madness in the markets for a few seconds,he places a very large trade which threatens to wreck the account.It drives fear into the trader ,he panics , scrubs some of the position,and the beaver is struck , totally pussy whipped.

http://www.metacafe.com/watch/402860/beaver_cam_epic_movie/

Fookin hell...just watched the beaver movie...disturbing

 

[oildaytrader]

Wow deep maan.....fear overcomes the beaver..so the question is Oily - are you the beaver...or are IS THE THE BEAVER WITHIN ALL OF US......

A good discretionary trader's major weakness is discipline and controlling emotions.A discretionary trader,trading without any specific rules, is like a heavyweight boxer taking the big blows, and delivering harder blows (bigger trade sizes on great opportunities).It is difficult to keep the discipline and control the emotions.

 

[oildaytrader]

Fookin hell...just watched the beaver movie...disturbing

Welcome to discretionary day trading.Now you know why the 95% club of beavers end up on the road.

 

[oildaytrader]

What are you going on about?

None of you have answered the following question in the first post.How do you deal with this greed and lust?

I believe the solution is to employ an assistant to key in all the trades and trade management .The assistant will be given a money management lot size schedule,which can not be overridden , even at trader's request to put on a bigger trade.Trader will give all the orders to assistant.

Do any of you have any alternative solutions to the beaver problem or have any opinions on hiring an assistant?

Everything else is O K about my trading.

 

[oildaytrader]

The mind loses it for a few seconds when trading becomes this hot,no matter how good the systems and methods you flog.This is my problem.

 

[Splitlink]

I escorted a drunk friend home a month or two ago. She made it very obvious that she wanted me. I was completely sober and could feel my animal instinct starting to churn inside. I could easily have had a fun night but I told her that we would regret our actions in the morning so I made sure she got home safely and then headed home.

Of course, some may say I'm just a big homo.

A gentleman like you has no place in such company as this

I hope that you get a second chance but, alas, a month is a long time.

 

[spy74]

None of you have answered the following question in the first post.How do you deal with this greed and lust?

I believe the solution is to employ an assistant to key in all the trades and trade management .The assistant will be given a money management lot size schedule,which can not be overridden , even at trader's request to put on a bigger trade.Trader will give all the orders to assistant.

Do any of you have any alternative solutions to the beaver problem or have any opinions on hiring an assistant?

Everything else is O K about my trading.

For me currently, I love trading and really enjoy trading full time. I place a VERY large implied value on the flexibility that trading offers. I remind myself on a daily basis that I'm seriously lucky to have this opportunity and if i do something stupid resulting in a large hit to my capital I'll have to look for a 9-5'er again - so don't f*ck this up!

 

[oildaytrader]

For me currently, I love trading and really enjoy trading full time. I place a VERY large implied value on the flexibility that trading offers. I remind myself on a daily basis that I'm seriously lucky to have this opportunity and if i do something stupid resulting in a large hit to my capital I'll have to look for a 9-5'er again - so don't f*ck this up!

How are you avoiding the temptation of greed and fear ?

 

[spy74]

How are you avoiding the temptation of greed and fear ?

there are mechanical aspects to my plan which i strictly adhere to i.e daily targets and daily stops. i can only add size to my clip when i've hit my target 8/10 days. i'll go back on the Sim for a couple days if i hit my daily stop 3 days in a row. I take a screen shot of all my trades and try evaluate them at the end of the week etc etc

generally speaking, i think the key is that I've learned from bad experiences that acting on greed/fear/ fear of missing out/ has never paid me $$$, i've had the odd stroke of luck here or there, but net/net it's only lost me $$$ so it's not the way forward for me.

I want to try get backed eventually and trade for the rest of my career, and I figure that the best track record you can have is to demonstrate equity growth with low volatility - you can leverage that! The only way I know how to do this is by taking small risks and trying to manage them well, not swinging for the fence and crossing my fingers.....

 

[shadowninja]

A gentleman like you has no place in such company as this

I hope that you get a second chance but, alas, a month is a long time.

Thanks. It'd have to mean we were in a relationship before I really considered something as physical as that. A month would be too quick for such a relationship to develop. I am so old fashioned.