Do you have down days?

shadowninja

Legendary member
5,524 643
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)
 

JTrader

Guest
5,741 506
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.
 

FXSCALPER2

Established member
964 280
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)

How often do you have this problem?
 

shadowninja

Legendary member
5,524 643
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
 

rathcoole_exile

Veteren member
3,924 767
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

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

new_trader

Legendary member
6,581 1,434
Do Your OWN figuring!

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

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.
 
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Rhody Trader

Senior member
2,620 266
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.
 
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dbphoenix

Legendary member
6,952 1,252
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.
 

shadowninja

Legendary member
5,524 643
Thansk for all the replies. :)
 

PKFFW

Established member
535 140
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
 

Lee Shepherd

Senior member
2,164 572
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.
 

Lee Shepherd

Senior member
2,164 572
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!.

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)
 

rathcoole_exile

Veteren member
3,924 767
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:
 
 
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