hello-new to T2W

[index999]

Hello,

I trade futures. For now only S&P E-mini's. Trading is my passion. My Achilles hill is my freezing up when the trade goes against me and sometimes I take big losses. I know you will say "if you can't get this one under control don't even bother". But I really want to succeed at this and have tried so many different methods. when a trade goes against me it becomes soooo important and the loss (even a $25 loss) becomes soooo upsetting that I just freeze up. I get very upset when I take a $1000 loss and I get very upset when I take a $12.50 loss. I put Any ideas that can help me with this? The weird thing is that when I am not completely demoralized because of taking a loss and not beating up myself into a pulp, I can make good money.

thank you for your time

 

[nine]

First thing. Always use a stop ... because being in pain is annoying but its the bad behaviour that might follow that is the real problem.

Second. Have a look at this post: Article on Fear ... but there is a lot of good stuff in this thread (start at the beginning )

 

[index999]

Dear Nine,
thank you for your reply. I read the article twice and found it very helpful. Now, I have to do the work of facing my fear. They say "the demon you overcome gives its power to you". I look forward to becoming more powerful.
Index999

 

[shadowninja]

Well, unless you tap your ability to make losses on its head, expect to blow up a few accounts. See a psychologist/therapist/psychotherapist before it goes too far, maybe. Why can't you accept a loss?

 

[index999]

thank you shadowninja. I understand your concern about repetition. I tried to be mindful of more advanced members of the group and posted my question on the First Steps forum. But I understand how frustrating it can be when each new person asks the same dumb question!

I am casing T2W. It is a slow process. very glad to see that there are lots of traders who trade only with price and volume information. I have never found an indicator that didn't disappoint me.

To answer your question "why can't I accept a loss?" I have several reasons. One is that, unfortunately, as a novice trader I learned that waiting for losses to come back is sometimes profitable. This is the case of intermittent reinforcement (when the experimenter gives the food to the lab mouse randomly and not each time a mouse presses a pedal, it takes forever for the mouse to learn when the feeding is completely stopped. the lab mouse will keep on pressing the pedal even though he is not getting any more food). I have this physical and very compelling memory that tells me if I wait it will come back. Of course, a lot of times when the pain grows so bad and I throw in the towel and take the big loss, the price goes right back my way. So, here is a double whammy against my logic.

Additionally, I judge myself very harshly and each trade becomes extremely important as though my entire trading career depends on it.

I know why I do what I do (hold on to losses). I know that what I do is wrong if I want to become a successful trader. I also know what I need to do. I have been working on this problem for a while and I am coming to the conclusion that logic, where strong emotions are concerned, does not have a lot of power. Self talk with logic and reasoning have not yet given me the outcome I want. I am planning to instead face my fears, put my stops in, and try to survive this learning process. Wish me luck.