Exiting a trade?

[jd1888]

It was relatively easy to detect as I've been there myself. I'm severely bi-polar. The ups were spectacular and the downs sucked. When I was down I would give up much of my hard earned gains. I never became a really successful trader until I got the right help.

"Better living through Chemistry" Those old enough will remember this tag line from a television commercial long ago and will laugh. The rest of you will just understand.

It's a bad situation to be in isn't it? What help do you mean?

 

[HowardCohodas]

It's a bad situation to be in isn't it? What help do you mean?

Once I overcame denial, I visited with a psychiatric nurse. A combination of talk therapy and medication (my reference to Better Living Through Chemistry) ended up working for me. I had abdominal surgery. The medication stopped working. Back to the nurse to find different chemistry. I am a continuous "work in progress."

Every individual needs to find their own key, usually with the help of a professional. What worked for me may not work for others.

 

[jd1888]

Re: Beanz Meanz Pips !

Cheers and yes I can see how confusion, indecision , unpredictable own actions may whack in if we lack a sure footing on how we wish to approach trading the market in the first place.

And if all our market exposure experience is formative of how we perceive them to be , then It is clear to me that left unguided, it is no wonder it can often take many months/years of time exposure to the market environment for an individual isolated trader to understand and develop his fixed internal outlooks confronting a fluid market.

So what I think should happen, is that a trader needs to know his self inside, as to how he must approach the market conditions outside of himself.

And this brings my thinking back to the question of

Do I need (for myself) to approach the markets based on my internal driver that I feel, know, am drawn to... etc that

a) The markets are random or

b) The markets are not random.


And this is just my own thoughts on it, but with myself I have always felt option b) . For someone else, to them, it could be option a. But I would want them to know whats right for themselves , that is where I would nudge someone to head towards, answering that one bloody question firstly.

As from that , I feel, it may help the individual with the development of the entries and exits executed in the market and those actions taken are more likely to be planned, controlled and understood by the individual making them.

I agree with you entirely. I think that because the journey is more of an internal one than most people realise, is the reason why the majority of people fail in their journey to become successful/profitable.

I am trying to discovery myself from a psychological perspective to overcome some of the issues that i know are there. Once I have figured out these issues I will then have the problem of figuring out how to deal with them.

I really never knew how much a task learning to become successful/profitable would be when I first knew that the average joe was able to trade. I learned the basics from the babypips website then looked at chart and thought to myself this is going to be easy I'm going to be rich. Ha ha ha what a joke that is. I'm still glad I've started the journey I just never thought it would take so bloody long, be so hard and take up so much of my time.

Can I ask how you came to your conclusion that they are not random?

 

[HowardCohodas]

Re: Beanz Meanz Pips !

I agree with you entirely. I think that because the journey is more of an internal one than most people realise, is the reason why the majority of people fail in their journey to become successful/profitable.

I am trying to discovery myself from a psychological perspective to overcome some of the issues that i know are there. Once I have figured out these issues I will then have the problem of figuring out how to deal with them.

I really never knew how much a task learning to become successful/profitable would be when I first knew that the average joe was able to trade. I learned the basics from the babypips website then looked at chart and thought to myself this is going to be easy I'm going to be rich. Ha ha ha what a joke that is. I'm still glad I've started the journey I just never thought it would take so bloody long, be so hard and take up so much of my time.

Another path to overcoming some of the psychological issues is to get a coach. It works just as well in trading as it does in sports. A good coach will not only be able to understand your concerns, but will give you confidence as you begin to make good decisions with someone you respect as a backup to discuss your trades with.

I apologize for neglecting to mention this in my previous post.

 

[jd1888]

Once I overcame denial, I visited with a psychiatric nurse. A combination of talk therapy and medication (my reference to Better Living Through Chemistry) ended up working for me. I had abdominal surgery. The medication stopped working. Back to the nurse to find different chemistry. I am a continuous "work in progress."

Every individual needs to find their own key, usually with the help of a professional. What worked for me may not work for others.

Firstly let me thank you for opening my eyes to an underlying problem that I have.
I always thought I had a problem but like you say denial is sometimes your best friend.
It's strange talking to someone about these types of issues, I've never really spoken to anyone about it before.

I'll take what you have said onboard and think about the options that I have to try and resolve them. I hope that the help you have received has helped you in your life and in your trading.