Fear or Stupid

[gtspeed]

Hi All

I have good days and bad days like us all, seem to be more bad than good and seem to find that the second I press the button the market moves the wrong way within seconds , surely the law of averages would give me a good call at least once.

I think fear kicks in a lot and kill trades early or have the stop to close, name it done it. Sometimes I think the best way forward should be set a 50 point stop and a 100 point target and shut my eyes ……. maybe I am stupid lol

 

[Atilla]

Hi All

I have good days and bad days like us all, seem to be more bad than good and seem to find that the second I press the button the market moves the wrong way within seconds , surely the law of averages would give me a good call at least once.

I think fear kicks in a lot and kill trades early or have the stop to close, name it done it. Sometimes I think the best way forward should be set a 50 point stop and a 100 point target and shut my eyes ……. maybe I am stupid lol

Risk:Reward ratios depend on what market you playing in and you should have some idea of Average Trading Ranges, ATR for your instrument like daily and weekly moves.

You should know what news is out and what's coming up when?

You should be aware of what's happ in other markets that can impact your instrument?

I use Pivot Points for identifying R/S. Knowing whether the price is at R1,R2,R3 or at pivot points all make a BIG difference to moves imo.



You need to scratch a little deeper on the surface before those text book R:Rs start paying dividends.

 

[tomorton]

Hi gtspeed, sounds like you're trading noise - price randomly reverses without TA clues, good days and bad days with same strategy with no underlying rationale to price movement, price action making you afraid and emotionally doubt your own plan.

Stop trading intra-day until you can trade. Once you find you can trade long-term, you should find either you can trade intra-day or you won't need to.

 

[wallstreetwarrior87]

It is hard to help ANYONE in trading unless we know enough about you, your ideas, your goals etc when trading.

Personally, I think the time frame is irrelevant, its more to do with the fact that the individual can not resonate fast enough and comprehend data when trading quicker time frames. Hence, we get to expose our weaknesses a lot faster than if we were trading long time frames. But the result will still be the same.

Ideally - you should have an idea of what it is you are trying to do/achieve before you let the markets dictate to you and influence what you will do. If you dont have this in place, then watching real markets has no value what so ever.

IMHO.

 

[J_C_Anderson]

Sometimes it is really better to open the position, set your stop and go away. As for me, it is the best approach to deal with closing positions too early, especially for mid-term (swing) trading.
I had my best trades doing something like that.

 

[NVP]

Hi All

I have good days and bad days like us all, seem to be more bad than good and seem to find that the second I press the button the market moves the wrong way within seconds , surely the law of averages would give me a good call at least once.

I think fear kicks in a lot and kill trades early or have the stop to close, name it done it. Sometimes I think the best way forward should be set a 50 point stop and a 100 point target and shut my eyes ……. maybe I am stupid lol

the more experience you get the more this will all make sense......until then you will feel as you describe ..weve all been there

N

 

[mason_ritter]

All traders have good days and bad days, don't despair. The advice I can give you is to continue practicing. If your problem is fear that can be decreased over time simply by getting used to trading, by learning more and by gaining confidence.

 

[Merk Porter]

I can’t agree with you in the true sense. Since forex is an uncertain market place a forex trader can face many problems here. So fear in the mind of a trader is quite normal actually. But if a trader stops his trading activities in this fear then he is not right. Rather, a foreign currency exchange trader should try to overcome his trade related fear by acquiring trading knowledge about trading.

 

[mason_ritter]

I agree, anxiety never fully goes away, but as long as it doesn't influence your decisions and doesn't preclude your trading it is not a problem.

 

[FXX]

If you have more bad days than good and have an overly heavy fear of being wrong then you likely are not trading a plan that has an edge. It could also be that you have a plan that gives an edge but your execution or interpretation of that isn't enough to make it work.

What is your strategy?

 

[mason_ritter]

I agree with FXX. If a trading plan is not working out you should never be afraid to change it. Go back to demo trading if necessary, test different strategies and figure out the one that fits your needs the best.

 

[NVP]

in trading every failed or inferior strategy gets you closer to a winning one ...........just keep going ....perseverence.....

sure - great traders are smart ....but they also have bags of perseverance and grit to last the journey to the end goal

theres a lot more smart people out there than ones with grit and determination...its in short supply these days

 

[dbphoenix]

in trading every failed or inferior strategy gets you closer to a winning one

Only if one thoroughly understands the reasons for the failure. For most beginners, trading is no different from roulette.

 

[NQurious]

I press the button the market moves the wrong way within seconds , surely the law of averages would give me a good call at least once.

I have come across few truly fearless traders. And fear inevitably leads to losses.


Is it stupid to place trades without any idea of whether one has an edge at that moment? I don't know. But it sure isn't smart.

in trading every failed or inferior strategy gets you closer to a winning one

If true, there'd be far more profitable traders than there in fact are.

Only if one thoroughly understands the reasons for the failure. For most beginners, trading is no different from roulette.

Understanding comes only through calm, reflective observation. No time to be calm and observant when one has just bet it all on red 36!

 

[NVP]

Only if one thoroughly understands the reasons for the failure. For most beginners, trading is no different from roulette.

therein lies the catch......like in business good decisions can still produce a bad outcome....the skill is realising your decision was ok and not tweaking it unnecessarily

equally there’s nothing worse than successful outcomes from poor decisions.....that will lead you off on bad tangents

N

 

[Hudson Jack]

As a human being, it is normal to have fears in trading. But whether it cripples you or push you to new heights is entirely dependent on you. Even it is a fear or stupidity, just keep learning and moving.

 

[fibo_trader]

Hi All

I have good days and bad days like us all, seem to be more bad than good and seem to find that the second I press the button the market moves the wrong way within seconds , surely the law of averages would give me a good call at least once.

I think fear kicks in a lot and kill trades early or have the stop to close, name it done it. Sometimes I think the best way forward should be set a 50 point stop and a 100 point target and shut my eyes ……. maybe I am stupid lol

You are already a winner in a my book titled T2W. Honesty goes a long way. How long? Its like a cement structure foundation with such a low center of gravity as to coincide with the center of the EARTH. Now you can easily place things of interest on the surface and they will be stable. w.r.t. Trading you're therefore almost there - send out a telephone call to THE MAN to send a HELPER. Then forget about it and be pay-shunt.

 

[fibo_trader]

in trading every failed or inferior strategy gets you closer to a winning one ...........just keep going ....perseverence.....

sure - great traders are smart ....but they also have bags of perseverance and grit to last the journey to the end goal

theres a lot more smart people out there than ones with grit and determination...its in short supply these days

ROFLMAO

In trading every failed or inferior strategy gets you closer to DEATH ....... just keep going .... perseverance .... to get to the after Life in a jiffy

sure - great traders are smart ....they have a HELPER

Serendipity is in reasonable supply - just ask for it.

 

[fibo_trader]

I have come across few truly fearless traders. And fear inevitably leads to losses.


Is it stupid to place trades without any idea of whether one has an edge at that moment? I don't know. But it sure isn't smart.





If true, there'd be far more profitable traders than there in fact are.





Understanding comes only through calm, reflective observation. No time to be calm and observant when one has just bet it all on red 36!

Why did you leave ET?

 

[fibo_trader]

therein lies the catch......like in business good decisions can still produce a bad outcome....the skill is realising your decision was ok and not tweaking it unnecessarily

equally there’s nothing worse than successful outcomes from poor decisions.....that will lead you off on bad tangents

N

hocus-pocus gibberish, not helpful.



Proof:?

NVP arrives at Heaven. Ahead of him in line is Fibo. Saint Peter welcomes Fibo and gives him the penthouse suite and a golden staff and a bottle of the finest wine. Then its NVP's turn - St. Peter gives NVP a wooden staff and a bed in a dormitory that he has to share with tomorton, Signalcalc and other top contributors at T2W. In the bunk above is none other than malaguti.

NVP is furious and yells at Saint Peter, "I'm NVP, the #1 contributor at T2W and this guy Fibo is a bastard to the nth degree, ask anybody at T2W, and yet you give him all the good stuff and me the cheap stuff? This is an outrage. I demand an explanation

Saint Peter replies to NVP: "Here in Heaven we do things by results, "when you speak at T2W, your clients, they snore and fall asleep & die from excessive dissertations, but when Fibo speaks, they pray"