Almost There!

After a couple of years of dedicated effort I have got most of my problems worked out. I've got my charting software tweaked to perfection, finally. My execution platform is working like a charm. There is only one teeny tiny little problem. My trading sucks. This is all that's holding me back.

 

LOL!

 

easy,

I know how you feel. Maybe manual trading isn't for you. I know I hate it... I am trying to make a complete transition to system trading. The amount of times I've lost money from spacing out, sleeping in, dying of boredem, etc can't be counted. I am hoping system trading might help with some of those problems...

 

LoL. cracked me up with that one.

However, all you need to do is 1) have a trading plan 2) keep your losses small 3)have price targets (know what you'll do at certain price levels 4)remember market psychology (fear and greed) is constantly present 5) trade what you see, not what you think (the tail can't wag the dog) 6)a large part of your trading success is based on your personal psychology and understanding of yourself (you are your own greatest threat to becoming a successful trader).

Dang on it, come to think of it.....Did I train you?

Maybe it is time for me to become a trading author now. LOL

 

systems trading: check out club3000

 

i agree with trader....most important is to cut your losses short.

 

Thanks for the advice and support guys. The first three months of the year were great. Hardly any losing days.Then I went into an unbelievable slump. You know those days when the minute you go long the market goes into a freefall and as soon as you go short the market rallies. You sit there and watch as they run up to your stop, take it out to the penny, then proceed merrily in the other direction. Well this has been going on almost every day and I cant seem to shake it off. I think I need a vacation.

 

in such a situation the best solution is to get away from the markets for a week or so. then you will be surprised by what comes to your mind how you develop new insight into your actions and your life.

<b>get away from the markets for some time... do something completely different. hiking, sailing, traveling, painting... something for your soul </b>

alain

 

Do you think the problem is more in something you're doing differently, or in something the market is doing differently? If you're not confident in your answer, then a first step would be to review your trades (from good periods and bad) and their contexts in as much detail as you can stand.

If it's more the market, and your drawdown has exceeded what you're willing to sustain, then you may need to add some complementary tactics, adjust your trade criteria (entries, exits, position sizes), or develop a screen or filter.

If it's more you, then you've got to figure out what it is you're doing wrong, and stop, dammit! Taking a vacation, or at least a break, might very well be a good idea. In addition to the other reasons for doing so, it can also be one way to prove to yourself that you CAN take control.

By the way, I can totally relate to "almost there," having gone in and out of that state, or the feeling, repeatedly. Sometimes, the difference between accumulating more losses than profits, until your survival is threatened, and accumulating more profits than losses, until success seems secured, can be very slim.