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Old Feb 9th, 2012, 11:22 PM   #1
SaigonTed26
 
 
Join Date: Sep 2011
Posts: 14
Hi,

Like other people, I either panic when a stock is down and am tempted to sell or when I'm up I like to sell too early to ensure I will keep the profits I have. Are there any methods people use to control these emotions? I know one way is to just not login to my trading account, or just not watch cnbc or look at stock quotes. But in a nutshell, what do others do to fight urges to either sell too early or sell out of panic? (Besides smoking or drinking or what not ) Thanks!
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Old Feb 10th, 2012, 12:15 AM   #2
Rob227
Registered User
 
Join Date: Feb 2010
Posts: 185
It's just going to take time to gain enough experience so that the emotions bother you less. Also trade with a size you are comfortable with to minimize the emotions.

Putting your head in the sand by avoiding looking is probably not the best idea unless you are ok with the shock of a position that has moved a lot while you weren't watching.
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Old Feb 10th, 2012, 10:51 PM   #3
SaigonTed26
 
 
Join Date: Sep 2011
Posts: 14
Thanks, I agree. If I just don't look at all and the stock goes the wrong way, I won't be any better off. You're right, I think, over time I can learn to control my emotions better.
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Old Feb 11th, 2012, 03:16 AM   #4
wrbtrader
 
 
Join Date: Feb 2010
Location: Quebec, Canada
Posts: 1,812
Quote:
Quote from SaigonTed26:

Hi,

Like other people, I either panic when a stock is down and am tempted to sell or when I'm up I like to sell too early to ensure I will keep the profits I have. Are there any methods people use to control these emotions? I know one way is to just not login to my trading account, or just not watch cnbc or look at stock quotes. But in a nutshell, what do others do to fight urges to either sell too early or sell out of panic? (Besides smoking or drinking or what not ) Thanks!
You could use hard stops (initial stop loss and trailing stops) and then let them do their job.

Yet, if you already use stops and have been exiting trade positions prior to the stops being hit...there's nothing wrong with such if you have stats to show that your stops tend to be hit had you stayed in the trade.

In contrast, if your early exits is causing a negative impact on your trading results...there's something you have not disclose that's occurring in your "trading environment" (at home or office) keeping you on the edge or walking on eggshells. Simply, fix whatever that may be and you've resolved your problem. Also, use relaxation techniques while trading.
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Old Feb 11th, 2012, 07:37 AM   #5
oilfxpro
 
 
Join Date: Oct 2007
Location: london
Posts: 1,593
Quote:
Quote from SaigonTed26:

Hi,

Like other people, I either panic when a stock is down and am tempted to sell or when I'm up I like to sell too early to ensure I will keep the profits I have. Are there any methods people use to control these emotions? I know one way is to just not login to my trading account, or just not watch cnbc or look at stock quotes. But in a nutshell, what do others do to fight urges to either sell too early or sell out of panic? (Besides smoking or drinking or what not ) Thanks!
You can not control your emotions or suppress them, if you try to , you become queer or a freak.You may lose the ability to express emotions and continually employ maladaptive practises.If you do that consistently ,you will lose your head.

See a skilful Psychologist and read some good psychology books , and you will know what I am talking about.
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Old Feb 11th, 2012, 10:34 AM   #6
wrbtrader
 
 
Join Date: Feb 2010
Location: Quebec, Canada
Posts: 1,812
Quote:
Quote from oilfxpro:

You can not control your emotions or suppress them, if you try to , you become queer or a freak.You may lose the ability to express emotions and continually employ maladaptive practises.If you do that consistently ,you will lose your head.

See a skilful Psychologist and read some good psychology books , and you will know what I am talking about.
Most people on the planet are able to control or regulate their emotions and those that aren't able too will get a none desirable or desirable reaction.

Just imagine if every person you meet (e.g. restaurant, bank, hospital, grocery store, school, government, police, parent and so on) you talk to wasn't able to control their emotions...everybody on this planet would be in constant chaos...apocalyptic.

Therefore, maybe you meant that if you don't learn how to control your emotions or maybe you're talking about what happens when someone suppresses "negative emotions"...there could be an undesirable result for you or for someone else.

http://www.psychologyinaction.org/20...-our-emotions/

On another side...we need to be very careful about trapped emotions from emotionally charged events because such may result in self-sabotage, relationship problems and physical ailments. One of my favorite reads about such is The Emotion Code @ http://www.amazon.com/Emotion-Code-B...8975301&sr=1-1

Another good read is Emotional Freedom: Liberate Yourself from Negative Emotions and Transform Your Life @ http://www.amazon.com/Emotional-Free...975374&sr=1-10

That's why I continue saying to traders that have serious trading problems...more often than not the cause is not trading related and most likely there are other areas of failure in their personal lives via the same reasons.
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