Anyone of you have looked into managing your anger or temper better during trading? I'm not sure if it's normal but I find myself getting pissed off and angrier now that I'm consistently profitable. I read somewhere that with profitable traders, you can't tell whether they're profitable or not because they have no emotions. I suppose way back when I wasn't profitable, I sat on losses with hope. But now, I cut them off quick but it still pisses me off to no end even though I don't let them run against me much anymore. Today's rough market got me so pissed off I punched a wall and I think I broke my hand Gotta go see a doc tomorrow.
Anger: Good question, I find that my emotions are simply due to the way I am viewing it. For example...... I used to hate getting behind some terrible driver. I'd get all impatient and upset. Then, I finally realized that this was ridiculous.... I'm letting someone else ( something external ) - set the tone of my internal dialogue, and hence my emotions. It's what we tell ourselves that's important. So...... I started saying to myself something else..... Like .... oh - this person is slowing me down....that's alright..... perhaps they will save me from an accident down the road, or whatever.....but I'll just relax and enjoy the scenery until I can pass them. Same thing for trading....kind of. I am responsible for what I think and the way I think. I can view things as "Bad" or "Good"......that's up to me alone. When I make a bad trade, I ask myself .... what did I do wrong? What did I learn...... ok ...cool.... I'll try not to do that again. ( of course I do it again....but then I learn the lesson on a little deeper level - till it finally sticks...and I never do it again ). I have this freedom of thought.......it is up to me, and me alone. I am responsible - no one else. I am my own best friend, and my own worst enemy. Simple..... but not easy. Hope this might help. .
Anger is just out-of-control emotion which represents the extent to which you don't know what you are doing.If you know exactly what you are doing there is nothing to get angry about - nothing.
Get a dog. Preferably a small one. That way when you kick it, it will fly farther and higher in the air. Just don't kick it into the neighbors yard, they don't like that.
I think anger and temper can be managed and used in such a way as to be effective and productive. In order for anger to be effective, it needs a human object. Although anger and temper are parts of my personality, I cannot use them in trading because there is no human receiver of the anger that would do me any good. In a job where lots of human interaction is required, I used to get angry and bully people. It was not something one can do frequently, but if the person who is the object of your anger is deserving of humiliation, it can be effective in changing that person's behavior and even more importantly your angry outburst will be accepted although not approved of or condoned by other colleagues. <p>The truly only anger management for a trader who makes his living by simply looking at a screen clicking a mouse, is to understand that anger is an emotion that burns productive energy that could be put into achieving your goals. Not only does it burn energy but it a reactive emotion. I would make the point that reactive emotions produce reactive behaviors. And reactive behaviors in the market, translate to the market having its way with you. <p>People often ask me if anyone can become a trader. I always answer that it takes a individual with a certain psychological construction. A trader has to have confidence that upon every entry into the market, he will exit with a profitable trade. But the tricky part is, to temper that confidence with the preparation for the market to go against them. That preparation obviously involves when, where, and how to cut one's losses in that event, but more importantly one must ALWAYS be psychologically prepared for the market to go against them at ANY time on ANY trade. If I have am always psychologically prepared for the market to go against me, then in the event that it does, chances are it will not be such an emotional event as to produce anger.
Perhaps sending me your trading profits would have a stabilizing effect on you. It's worth a try. Hey, I'm here to help. It's my nature.