Do you have down days?

shadowninja

shadowninja

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Specifically for pulling the trigger when your indicators say, "Go! Go! Go!". Last two days I missed fantastic movements because I just couldn't pull the trigger. It's not like I'm risking a lot either (1% of account).

Oh, well, roll on, Monday! (y)
 
I remember seeing some actor being interviewed a few yearts back. It might have been Christian Bale.
He was offered a film role, and everyone advised him not to take it, as it would likely kill his career before it had really started!
His response, was along the lines of - Great! lets see if it does!
The films success helped raise his profile.

Potential morals of the story -
1. No-one achieves anything without taking risks.
2. You have to be in it to win it.
 
shadowninja said:
Specifically for pulling the trigger when your indicators say, "Go! Go! Go!". Last two days I missed fantastic movements because I just couldn't pull the trigger. It's not like I'm risking a lot either (1% of account).

Oh, well, roll on, Monday! (y)
Click to expand...

How often do you have this problem?
 
Only yesterday and today. Not sure if it's related to something else as I feel fine physically. Possibly, I'm reading too much conflicting information about which way the instrument is going which makes me less confident about my system. In fact, that IS it.

Thanks for the feedback! :D
 
shadowninja said:
Only yesterday and today. Not sure if it's related to something else as I feel fine physically. Possibly, I'm reading too much conflicting information about which way the instrument is going which makes me less confident about my system. In fact, that IS it.

Thanks for the feedback! :D
Click to expand...

take a good rest over the weekend, keep away from boards, books etc and come back monday quacking fit .....
 
Do Your OWN figuring!

shadowninja said:
Only yesterday and today. Not sure if it's related to something else as I feel fine physically. Possibly, I'm reading too much conflicting information about which way the instrument is going which makes me less confident about my system. In fact, that IS it.

Thanks for the feedback! :D
Click to expand...

I agree and say this is exactly the reason. I made the mistake of trading whilst in a live chat room and needless to say it was a loser. You need to keep your mind free of all external influences. It is your money so all the figuring needs to be done by you, alone.
 
I had one of those moments Wednesday, which I wrote about in my blog (Sometimes You Need to Trade Scared) because it was just such a dumb mistake for an experienced trade to make. I think it might have actually started on Tuesday when I moved my stop too aggressively and make only 4 points (S&P) instead of maybe 15-20.

On Wednesday I didn't enter long at the open when I should have. Not only did I miss out on like 20 points, but in going against the move of the day I lost 8! :(

Fortunately, I made more than twice that yesterday, so I was still well ahead for the two days. For me, not making the money when you know the right trade to make is the worst, so I'm still kicking myself.
 
For me, it's a matter of not adequately preparing for the day, whether from getting up too late or being too groggy or forgetting to check something. Fortunately, I've learned to stop pushing on a string, and if I can't read what's in front of me, I wait for it to sort itself out.
 
I never ever ever have a down day. Everything works perfectly for me all the time. I don't make mistakes and never suffer doubt. As I never make mistakes I never feel the need to indulge in self recrimination.........

Then the alarm goes off and I wake up to reality! :cheesy:

On a more serious note my problem would be focus. I find I have days where instead of focusing and concentrating I end up surfing the net or doing other things and the next thing I know I've missed some great moves. That's really annoying to me.

Of course like everyone I also make mistakes from time to time. I try to learn from them though and not to make them again and I try not to beat myself up over them too much.

Cheers,
PKFFW
 
Hi shadow ninja,

I wouldn't worry, every trader will get this from time to time and it will never disappear, it's called human emotions, but, they dont have to get in the way of your trades..

The only thing I will say, and have to be careful when writing this that it's not read aggresively but...throw your balls on the table..just press the button.

One way to get round this block on trading is embrace the potential loss..you know its possible on every trade you take..when you've calculated your stop you know your potential loss..lets say for example £100..now welcome the fact your just about to lose the whole amount...your about to open a trade to lose £100..now its all percentages..you lose one you win one ect...if you cant embrace the figure your about to potentialy lose then lower the potential loss to an amount that puts you more at ease.

Hope this helps.
 
Me again,

Just to further add.

You've got a system or indicators that are saying "Go!Go!Go!".

Another potential problem is you may not have enough trust in your indicators/program or system...

If George Soros was sat next to you and he said "now take the trade", would you hesitate? If the answer is yes then trading may not be for you. For most losing money is just not aceptable, however, when trading this is something you'll experience constantly.

To remedy this we can do one of two things:

Ring up George Soros and ask if he'll sit next to us while we trade...OR

Test you system/program/trading style by backtesting extensively till satisfied that it works, then test it forward paper trading in real live time until such a day that you are truly satisfied and trust the very program that when it says Go!..You Go!.

shadowninja said:
Specifically for pulling the trigger when your indicators say, "Go! Go! Go!". Last two days I missed fantastic movements because I just couldn't pull the trigger. It's not like I'm risking a lot either (1% of account).

Oh, well, roll on, Monday! (y)
Click to expand...
 
Shadow Ninja,
here's my own suggestion. Every day you wire me tha amount of money that you'd risk on a trade. Some days I'll wire you back at even, some days a little at profit and some days I'll keep it all :clap:
 
Lee Shepherd said:
One way to get round this block on trading is embrace the potential loss..you know its possible on every trade you take..when you've calculated your stop you know your potential loss..
Click to expand...

Actually, this isn't to far off of what I've found myself thinking right before some of my best trades. "This is probably going to get stopped out", only to see the market move 20 or 30 points in my favor.

I had one yesterday - sort of.

I wrote in my analysis for the readers of the service I work on that a certain intraday resistance level presented a good sell point. I had my concerns about how much profit the market would give up because of some things going on (or not going on, as it were), which basically turned out to be right, but I still managed to give them a few points worth of profits if they followed my strategy. Nothing spectacular, but ever little bit helps.
 
Hey shadow ninja,

I've just telegrammed some money to your email address. Got a message back to say that if I send across £5k I'd get a cheque back for £3mn...I thought it too good to be true but the email said they had probs cashing cheque in there country, I fully understand and am sending the money immediately....Sod this trading crap..I'm gonna be rich...:LOL:

shadowninja said:
Thanks. Plenty to think about.



Ok, you email me the bank details and I send you the monies.
[email protected] ;)
Click to expand...
 
shadowninja said:
Specifically for pulling the trigger when your indicators say, "Go! Go! Go!". Last two days I missed fantastic movements because I just couldn't pull the trigger. It's not like I'm risking a lot either (1% of account).

Oh, well, roll on, Monday! (y)
Click to expand...

sometimes,u get your ass kicked,for day s,or hours,and u beat yourself up,to do that u have to live in the past, i DID this and i DID that,that is as damaging or more than a stupid loss,u have to b in the present,put your order in with a stop,then your fears are smaller due to defined risk,put your emotions aside,and trade, if its a winner,dont take the profit because u need it ,put in a trailing or chasing stop and max your profit,just trade,its not supposed to be easy, its work,u will build mental callouses,(u need these), and those emotions and pains will be expected and excepted and u will grow. even if u r on the right track,u will get run over if u just sit there. "Will Rogers"
 
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