Emotions are coming into your trading Dr.B.
didnt you say you had hit your target for today earlier this morning? thats should have been your signal to stand aside for the day.
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Emotions are coming into your trading Dr.B.
didnt you say you had hit your target for today earlier this morning? thats should have been your signal to stand aside for the day.
dr.blix
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yeah, i could have stopped after my 11 pts and still been inside my daily target of 20 pts after my 30 pts yesterday. instead, i went for another 20 today, i had 17 pts and blew it all trying to get the last 3 pts!
the sign of a true rookie, risking 15 pts to make 3.
For a bit of advice, come up with a trading system and stick to it, try and remove emothio from it completely. Only execute a trade when all of your indicators line up, even if you think that you're missing out on making money, profitable trades are like $10 hookers, there's always another one around the corner!
Im struggling with the same thing, its very hard to stand aside once you have made a nice basket of points. something we all have to conquer.
kaisen
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Hey Dr Blix, I was going to post you earlier but i have been doing some studying. You seemed to be on a role and I was going to congratulate you on yesterday and todays start.
The reading i was doing is regarding writing trading plans and some of the elements it mentions as to why trading plans are important seem to corrolate with your weaker moments. Dont get me wrong I am not putting you down I just want to see if my comments can help. You seem to jump around a bit when you do a bad trade. I am only posting this as I said because I want to help.
Sometimes we need someone elses view to point things out.It would seem that when you make a losing trade you are very, very keen to make a mends asap and often this leads you into emotional trades which then lead to further losing trades.
Also, as you seem become trigger happy it would suggest that you do not have the conviction in your anaylsis to see the trade through. This is a tough one as you dont want to increase your losses but sometimes in your eagerness to make back a losing trade you dont see the trade through to fruition.
I suppose the bottom line I am trying to convey is not to be too eager to make back losing trades. Easily said but we should all try and treat winners and losers the same so not to become emotional charged.
Anyway, deep breath, let the market come to you, gauge sentiment and have your plan sorted before you fire.
I hope you receive this message as it it meant!
blix: There's support at 06 so atch you dont throw the money away if it doesnt reach 04s!
Another point on trading, between 11:00 and Us opening (maybe push it forward to 13:30) there are a lot of scalpers pushing the market around, its the most vulnerable time to get stopped out in and I know a lot of ppl who dont trade it, just something to keep in mind
Another point on trading, between 11:00 and Us opening (maybe push it forward to 13:30) there are a lot of scalpers pushing the market around, its the most vulnerable time to get stopped out in and I know a lot of ppl who dont trade it, just something to keep in mind
dr.blix
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interesting trace, thanks for that insight
looks like i may have got my 4404 if i hadn't ran screaming like a schoolgirl :cheesy:
kaisen
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interesting trace, thanks for that insight
looks like i may have got my 4404 if i hadn't ran screaming like a schoolgirl :cheesy:
whistlingwhistlingwhistlingwhistling:whistling
dr.blix
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hahaha
kaisen
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Would fit the trend i am looking at.
Anyone looking to ride the lift back up for a few pts?
cadoganpier
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Hi Blix
I have suffered/am suffering with alot of the same issues as you and to be honest the only way I have overcome them is to work out my plan, execute it, then log off until I get the little email telling me it worked or it didn't. Just now was a great example I sold at 4405 at around 10:40 v. nearly got stopped just after then it gradually fell to my traget of 4394 nearly an hour later, if I had been watching I would have closed out near the stop or definately bought to soon. Doing this has improved my profitability alot and also improved my discipline, not saying it will work for you but its worth a try, its not as exciting but I use the "down time" to do my real job or study. Good luck
I have suffered/am suffering with alot of the same issues as you and to be honest the only way I have overcome them is to work out my plan, execute it, then log off until I get the little email telling me it worked or it didn't. Just now was a great example I sold at 4405 at around 10:40 v. nearly got stopped just after then it gradually fell to my traget of 4394 nearly an hour later, if I had been watching I would have closed out near the stop or definately bought to soon. Doing this has improved my profitability alot and also improved my discipline, not saying it will work for you but its worth a try, its not as exciting but I use the "down time" to do my real job or study. Good luck
cadoganpier
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ok long at 4389 SL 4359 target 4405
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