Hello all,
I've been demo trading for just over a month now with my new system hoping to see if I've got an edge or not. After going though my trading journal I've noticed that 80-90% of my trades are longs rather than shorts. I seem to have this unnatural bias towards longs rather than shorts, such that even if I can clearly see the market falling I will say to myself 'Ok, don't bother going short because it's dropped so much. Just wait for the reversal and get in with a long position to ride the price back up'. But when the market is clearly rising, I will somehow say to myself 'Right, the market is going up, lets buy on the pullback and get in'.
I'm a discretionary trader and my rules for entry are simply based on whether price is making HH or LL etc. I don't really use indicators to get a signal etc (it has taken me a LONG time to learn not to use indicators, but this is beside the point lol)
I just have this incredible reluctance and lack of confidence to go short - I trade the Dow Jones btw - and I'm very aware of this flaw in my psychology. I was just wondering if anybody else has this problem, and perhaps more importantly, if anything has some advice on what to do?
Many thanks,
Pi
I've been demo trading for just over a month now with my new system hoping to see if I've got an edge or not. After going though my trading journal I've noticed that 80-90% of my trades are longs rather than shorts. I seem to have this unnatural bias towards longs rather than shorts, such that even if I can clearly see the market falling I will say to myself 'Ok, don't bother going short because it's dropped so much. Just wait for the reversal and get in with a long position to ride the price back up'. But when the market is clearly rising, I will somehow say to myself 'Right, the market is going up, lets buy on the pullback and get in'.
I'm a discretionary trader and my rules for entry are simply based on whether price is making HH or LL etc. I don't really use indicators to get a signal etc (it has taken me a LONG time to learn not to use indicators, but this is beside the point lol)
I just have this incredible reluctance and lack of confidence to go short - I trade the Dow Jones btw - and I'm very aware of this flaw in my psychology. I was just wondering if anybody else has this problem, and perhaps more importantly, if anything has some advice on what to do?
Many thanks,
Pi
