Psychology problem

[oshunt]

Don't know if this is the right section, but I don't know what trading state of mind is

Today i made three trades two scalping making me £40 which is really good as this is the first time testing it live, and the third trade was a trade were i took more risk than i should of (7% of my account, usually maximum 5% ) and cut the position by half when it was going offside for a £17 loss, the trades for the other half currently is up £30.

So today iv'e made £20 with the other current trade still in progress, but i'm really annoyed by my actions on the losing trade, didn't feel comfortable trading with the risk i had, and more annoyed by it instantly reversing when i closed.

kind of feel like iv'e lost today even though i ended up in the green.It will be a lesson learned for the future, but just wondering if this is normal trading mindset to this situation?

 

[jungles]

a trading plan followed mitigates psychological disturbance

you will find it satisfying following your rules, even if the trade is a loss

start working on a robust trading plan, then learn to follow it

 

[15 min tlb]

Don't know if this is the right section, but I don't know what trading state of mind is

Today i made three trades two scalping making me £40 which is really good as this is the first time testing it live, and the third trade was a trade were i took more risk than i should of (7% of my account, usually maximum 5% ) and cut the position by half when it was going offside for a £17 loss, the trades for the other half currently is up £30.

So today iv'e made £20 with the other current trade still in progress, but i'm really annoyed by my actions on the losing trade, didn't feel comfortable trading with the risk i had, and more annoyed by it instantly reversing when i closed.

kind of feel like iv'e lost today even though i ended up in the green.It will be a lesson learned for the future, but just wondering if this is normal trading mindset to this situation?

Take advice from forums , you will meet you own kind

 

[Brumby]

Don't know if this is the right section, but I don't know what trading state of mind is

Today i made three trades two scalping making me £40 which is really good as this is the first time testing it live, and the third trade was a trade were i took more risk than i should of (7% of my account, usually maximum 5% ) and cut the position by half when it was going offside for a £17 loss, the trades for the other half currently is up £30.

So today iv'e made £20 with the other current trade still in progress, but i'm really annoyed by my actions on the losing trade, didn't feel comfortable trading with the risk i had, and more annoyed by it instantly reversing when i closed.

kind of feel like iv'e lost today even though i ended up in the green.It will be a lesson learned for the future, but just wondering if this is normal trading mindset to this situation?

Just normal human emotions associated with trading. The diversity of emotions and intensity will increase as you progress in your trading. The issues and problems that you raised are real and will need to be addressed but it is too early days for you. You need to experience a level of pain before you are ready to deal with it because what you need to confront will not be easy.

 

[15 min tlb]

Don't know if this is the right section, but I don't know what trading state of mind is

Today i made three trades two scalping making me £40 which is really good as this is the first time testing it live, and the third trade was a trade were i took more risk than i should of (7% of my account, usually maximum 5% ) and cut the position by half when it was going offside for a £17 loss, the trades for the other half currently is up £30.

So today iv'e made £20 with the other current trade still in progress, but i'm really annoyed by my actions on the losing trade, didn't feel comfortable trading with the risk i had, and more annoyed by it instantly reversing when i closed.

kind of feel like iv'e lost today even though i ended up in the green.It will be a lesson learned for the future, but just wondering if this is normal trading mindset to this situation?

Is it a compulsive decision to trade more ?You need to read more about psychology and yourself that drives traders to do this , many do it ....so no trading plan will work if a trader has traits that interfere with execution of trading plan.

It can be emotions ,ego , personality traits , stress responses , greed or other issues , only u can know what caused it.

 

[NVP]

Don't know if this is the right section, but I don't know what trading state of mind is

Today i made three trades two scalping making me £40 which is really good as this is the first time testing it live, and the third trade was a trade were i took more risk than i should of (7% of my account, usually maximum 5% ) and cut the position by half when it was going offside for a £17 loss, the trades for the other half currently is up £30.

So today iv'e made £20 with the other current trade still in progress, but i'm really annoyed by my actions on the losing trade, didn't feel comfortable trading with the risk i had, and more annoyed by it instantly reversing when i closed.

kind of feel like iv'e lost today even though i ended up in the green.It will be a lesson learned for the future, but just wondering if this is normal trading mindset to this situation?

3 things or relevence re trading

Managing Yourself
Managing your processes and systems
The Market

the market will do its own thing when and how it pleases.....so make sure your processes and systems are aligned to its Rythm and moods

most half decent systems work if you look hard enough .....and also its easy to read up upon risk, MM, etc etc .........all for free....all for free

the main problem is YOU ...........we are human and sadly we cannot self manage ..........doesnt matter how smart or dumb you are ......we are born to make mistakes in this life.........

welcome to trading ......welcome to trading

 

[Billy Gates]

Don't know if this is the right section, but I don't know what trading state of mind is

There are many different definitions for it as each individual has their own personal idea of it.

In my opinion the real definition is having a clear concept and understanding of all the attributes of a successful trader. It is these that make the difference between each trader.

 

[Brumby]

There are many different definitions for it as each individual has their own personal idea of it.

In my opinion the real definition is having a clear concept and understanding of all the attributes of a successful trader. It is these that make the difference between each trader.

Unfortunately in trading, knowing and functioning can be miles apart.

 

[Profitsniper007]

I would think the lesson here to be learned, is when you trade exposed to too much risk, you can not trade in a optimum way.

Remember, if you cant last, you can win.

Little profits add up to be massive gains when compounded over time (google compounding calculator and you can confirm this) - you do not have to go out there and hit a home run, trying to gain 7-14-21% (depending on what you risk/reward ratio would have been) in a trade, especially if you are scalping.

 

[Ituglobal]

Unless you have rock-solid discipline to follow signals from good traders or get coached by them or duplicate their trading styles, it would take you years to become a successful trader on your own.

 

[DitterPD]

Don't know if this is the right section, but I don't know what trading state of mind is

Today i made three trades two scalping making me £40 which is really good as this is the first time testing it live, and the third trade was a trade were i took more risk than i should of (7% of my account, usually maximum 5% ) and cut the position by half when it was going offside for a £17 loss, the trades for the other half currently is up £30.

So today iv'e made £20 with the other current trade still in progress, but i'm really annoyed by my actions on the losing trade, didn't feel comfortable trading with the risk i had, and more annoyed by it instantly reversing when i closed.

kind of feel like iv'e lost today even though i ended up in the green.It will be a lesson learned for the future, but just wondering if this is normal trading mindset to this situation?

I think that it is good that you feel that way, because it was said countless times: discipline is everything. It is good, because somewhere deep in yourself you feel/understand this.

If you manage to control yourself and trade with proper bankroll management then eventually it will come into habit and you won't even make such actions as you have done that day.

Good luck on your journey to the riches

 

[Babyblush]

Psychological problems are common during the first two years of the forex trading and then we get normalized if we have strong determination to overcome and win.

 

[zedanzz]

hello .

at the begening you must know that the { success is a state of mind is } never lose your confedence while you in a losing streak for example , you have to be confedent , but only the big loss that hurt you . as a rule never change your percentage of RISK !! never never never let the market take your money in a easy way by doubling your percentage of risk . every time you are going to make this killer mistake remember { it's trap } because in trading we have no certain out come at all . you only can take what the market offers you . that's why you can't say that this trade is very good so i'am going to risk a little bet more ! that is wrong !

steps can help you :

1 - be patient , expect to be a successful trader in the next 5 years , not today .

2 - never lose more than 2 % of your money on each single trade .

3 - make a sheet and write every trade you take , and the result if it is a profit or loss . and evaluate your self every 20 trades . not every single trade .

4 - remember that the successful trader is the one who can keep his emotion away , so never let you emotions push you to the wrong way , by increasing your risk percentage , or by trying to beat the market after a losing trade , once you have a losing trade forget about it , and never give up , and move on to the next one .
good luck , hope to be helpful

 

[0007]

steps can help you :

................

3 - make a sheet and write every trade you take , and the result if it is a profit or loss . and evaluate your self every 20 trades . not every single trade .

4 - remember that the successful trader is the one who can keep his emotion away , so never let you emotions push you to the wrong way , by increasing your risk percentage , or by trying to beat the market after a losing trade , once you have a losing trade forget about it , and never give up , and move on to the next one .
good luck , hope to be helpful

Agree with point 3 very strongly – also to record basic metrics (Mr Spreadsheet is your friend here). It's very easy to have a string of losing trades and feel that your system or yourself is no good. This may then may then psychologically prompt you to start making unwarranted changes. By looking at the data of past trades you can soon assess whether it's just a blip or part of your normal trading pattern or whether the market is just in a difficult phase that doesn't suit your trading methodology. There is also the possibility that your system does indeed need changing but don't do it without proper evidence.

 

[zedanzz]

Agree with point 3 very strongly – also to record basic metrics (Mr Spreadsheet is your friend here). It's very easy to have a string of losing trades and feel that your system or yourself is no good. This may then may then psychologically prompt you to start making unwarranted changes. By looking at the data of past trades you can soon assess whether it's just a blip or part of your normal trading pattern or whether the market is just in a difficult phase that doesn't suit your trading methodology. There is also the possibility that your system does indeed need changing but don't do it without proper evidence.

yess , you are right , but let me tell you that i have a study on this point { changing the methods when it gives you bad results , i found all the studies have one common princble , before i tell you , you must know that time is important in trading but also it takes monthes or may be years to know if this method is good or you need to change it . but generally you must not change it alot , because you may waste your lifetrading changing your strategy for example with bad results , knowing that no method should be good all the time is very important element , the most important thing in this part and the comon princble is to test your methodology on a demo account before you trade with it on a live account , you shouldn't lose money testing a new way of trading .

 

[smokealarm]

one should get rid of these psychology problems as they can hurt a trader very bad !!!! you should be disciplined and should have time to relax your mind so you can avoid some stress and these problems