reminiscence of(yet) a (novice)trader

giphy.gif

You are not worthy.don't presume to speak for anyone else
 
I offer multiple psychology counselling services for free .There is a great thread on patience and patience is profit , but do you understand the virtues of patience .

How do you define patience ?

Patience has to go hand in hand with discipline.I've taken trades against my strategy(poor discipline) cos I have not waited for the correct setup(poor patience) but having the confidence to think I will be OK.
Need to start trading to make money rather than trade for the action cos I can't sit on my hands
 
Patience has to go hand in hand with discipline.I've taken trades against my strategy(poor discipline) cos I have not waited for the correct setup(poor patience) but having the confidence to think I will be OK.
Need to start trading to make money rather than trade for the action cos I can't sit on my hands

I can read your emotions in your post.

Emotionally driven :I need to make money ...desire to make money

Unemotional:I need to trade correctly

Emotions are forcing trades against strategy.
 
Another week and I have just repeated the same old pattern.doing things I know I shoukdnt ,chasing a quick scalp but instead running up quick losses and then having to try and work my way out of them
Today's trades to note
1)10.35 7346.2
2)10.36 7347.8
3)10.37 7350.2
Shorts.running these to -20 odd and then managing to get out at 10.48 7348.2 net -0.4.its so quick to shaft you but takes forever to give you anything!
Less than an hour later I look at it again and price is up another 20 points or so and I give myself a little nod of approval thinking I would be -60 odd now.
Surely now was even a better time to get back in short.so I dive in again
1)11.24 7363.5
2)11.28 7367.2
3)11.30 7368.8
4)11.32 7370.2
I should not have added the 4th.infact I should not have been trading at all on mobile!
I should then have got out for about -15 but I still hate to lose and ran these buggers to about -50,was even +5 at one point but didn't take it cos as soon as I do,it would have given me more.and now cos I held it took me back to -50.I finally closed out all 4 by 13.02 for net -4.1.
I find myself suffering not only from FOMO but also FONBI (fear of not being immersed)
On to next week!
 
Most books are written by traders who can't make money from trading themselves .The proverb is very true in trading , Those who can, do; those who can't, teach.
 
This is brilliant video for short term screen based traders.


Im working on all that.
Im now down to the last two hurdles.
1) not to take a trade when there isn't one to take
2) accept stop
1 you can almost never be too certain about but 2 I will be implementing sooner rather than later so I will no longer be held hostage by the markets for sometimes weeks on end racking up massive losses
 
2) accept stop
.........but 2 I will be implementing sooner rather than later so I will no longer be held hostage by the markets for sometimes weeks on end racking up massive losses.........

I reckon you really mean it this time - so you'll do it.
 
I'd ban this £unt but as psychology is important in trading I'll let him continue. see what we can learn from someone damaged as such and then be less like him.
 
Heart & Knowing is NOT ENOUGH to BE a Winning Trader

aag100,

I've posted on this thread a while back. It's been a couple of yrs BUT NO CHGS in your posts, on Self Development & Growth!

Now some 500+ posts and 7 YEARS later, and countless Account blowups and starting over again to continue this madness... you are only showing and sharing your ignorance of the Trading Game.

No offense intended - ignorance meaning your inability to CHANGE & INCREASE AWARENESS to create the necessary NEW internal programming within your Inner Trading Game.

While your ongoing posts and resets and excuses show heart and basic trade execution knowledge, you MUST STUDY... DEVELOP AWARENESS of the Self Image Inner Game conditioned blockages from within your Inner World.

Heart & Knowledge is NEVER ENOUGH in any field of competitive High Performance RESULTS.

Awareness & Understanding of your Self Image & Esteem is required!

At the Institutional trading desks level, a trader (intern) has 1 yr to grow, develop, demonstrate new SKILLS in managing his/her Inner Game! Succeed, show increased equity curve P/Ls. Or, get out after 12 mos!

You are on Yr 7!

If you truly believe you CAN BECOME a long term winning trader - the next question is: "What are you WILLING to go through to make paradigm shifts in your THINKING and MANAGING of your Inner Blocks?"

Any and all Traders who cannot show a rising stable equity P/L curve after 2-3 years MAX need to deeply look inside and ask the questions of the paragraph above.

aag100 - I wish you tremendous Inner growth and Winning Trading successes IF you commit to making changes from the inside (Values, Beliefs, Standards, References, Associations, etc)!

If NO - your time and $ much better spent elsewhere - to fund your non trading dreams (and stop living and trading in Fantasyland).

Good trading always,

WklyOptions
 
aag100,

I've posted on this thread a while back. It's been a couple of yrs BUT NO CHGS in your posts, on Self Development & Growth!

Now some 500+ posts and 7 YEARS later, and countless Account blowups and starting over again to continue this madness... you are only showing and sharing your ignorance of the Trading Game.

No offense intended - ignorance meaning your inability to CHANGE & INCREASE AWARENESS to create the necessary NEW internal programming within your Inner Trading Game.

While your ongoing posts and resets and excuses show heart and basic trade execution knowledge, you MUST STUDY... DEVELOP AWARENESS of the Self Image Inner Game conditioned blockages from within your Inner World.

Heart & Knowledge is NEVER ENOUGH in any field of competitive High Performance RESULTS.

Awareness & Understanding of your Self Image & Esteem is required!

At the Institutional trading desks level, a trader (intern) has 1 yr to grow, develop, demonstrate new SKILLS in managing his/her Inner Game! Succeed, show increased equity curve P/Ls. Or, get out after 12 mos!

You are on Yr 7!

If you truly believe you CAN BECOME a long term winning trader - the next question is: "What are you WILLING to go through to make paradigm shifts in your THINKING and MANAGING of your Inner Blocks?"

Any and all Traders who cannot show a rising stable equity P/L curve after 2-3 years MAX need to deeply look inside and ask the questions of the paragraph above.

aag100 - I wish you tremendous Inner growth and Winning Trading successes IF you commit to making changes from the inside (Values, Beliefs, Standards, References, Associations, etc)!

If NO - your time and $ much better spent elsewhere - to fund your non trading dreams (and stop living and trading in Fantasyland).

Good trading always,

WklyOptions


Great post

He should meditate and remove all loser,s thoughts from his mind and replace thoughts for a winning mindset.
 

thats what i might send you if i gave a f^ck but anyhoo
lets take a moment to look at your mental state.are you in one of those corpus christi type cults and into self flagellation.taking it to the maximum extreme where you bugger yourself so violently because you think you are not worthy and in comparison my losses look like a fantasy.....imho
 
and now for some trades
these are from yesterday
1)8.22 7336.2 closed 9.03 7338.2 -2
2)8.23 7338.2 9.03 7338.2 0
3)8.25 7340.8 9.03 7338.2 +2.6
4)8.36 7342.8 8.52 7346.8 -4
5)8.39 7350.8 8.52 7346.2 +4.6
ended up the odd point but wasnt worth it.i should never have got into it as the set up wasnt there.
think i ran these up to about -70 but i got my fix of FONBI.
Then returning later and seeing the price up by about 30 points i thought surely its an even better sell now.so i enter the fray again
15.24)7370.5
15.25)7371.5
15.34)7374.2
15.48)7379.2
16.00)7383.8
having managed to get away earlier i found myself back in the same position.once again having to try and trade myself out of it.it so friggin easily runs against you in seconds and then is painfully slow to give you back anything.i counted tops/double tops/tripple tops/quadruple tops the fifth and sitxth friggin tops
and eventually after running these up to about -70 again i managed to get out at 16.27) 7375.8 net -0.4.
didnt want to pay roll charges and increased spread after uk close.
so that was yesterdays FONBI.
and now for todays FONBI
8.57 7353 closed 8.59 7349.8 +3.2 (quick scalp,in bed and on mobile)
and then i begin my usual tricks
9.08 7353.8
9.11 7355.2
9.17 7359.8
9.30 7363.2
9.40 7366.2
running these up to about -50 then being about +15 and holding for 15 more(3x5) then cursing myself for not taking it and being back to about -30 in seconds but finally getting out for +12 or so at 9.53 7357.
thats my FONBI fix for today,all in under 2 hours.now for a break.
 
Top