in getting my money back sometimes,then to make more...Maybe it is all about focus and concentration.If you are that way sometimes,stay focused all the time!
Every time you trade, you need to be focused, have a goal, remember your setups. Wait for your setups. If you lose, don't get emotional, don't revenge trade, wait for the next day to calmly trade correctly your edge. I made some money this week, but I was scared of giving it back on Friday, so instead of trading with real money, I sim traded, and of course made a profit. I should have realized that if I just set a normal stop, worse case, I would have only given back a little profit if I lost on a trade on Friday. I think the cause of revenge trading is not being able to take a loss, but its easier to make back your money, if you don't keep digging. Just remember some days, your setups may not work, so don't keep trading on those days.
I use to think trading was just "Fear and Greed", but it isn't in the way people think IMO. Trading is nothing but fear for most, fear of losing trades, fear of having many losing trades, fear of making money and keeping it, fear of making a little by giving it back. I know most will say I am wrong, but the Greed part comes in by having too big of dreams, people want to trade all day long and get every nickel out of the market. It took me forever to learn what the older traders have told me through the years, make your two points per contract and quit, walk away. Make up to three trades in first 45 minutes to make two ES points per, and walk away for the day. If you can't consistently make two points in this amount of time, shouldn't trade. When very consistent, add size.
Simply something to ponder Greed is a form of fear Fear of missing out Fear of not getting/ having enough Fear of inadequacy ======================================================= There are old traders⦠and there are bold traders â mutually exclusive of course RN
Dear Mr.Handle, do you think it is possible to ignore everything else(news + etc...) and just focus on the 2 points daily? either buy or sell??
How you feel during trading is something that comes from below the neck. The fear, anxiety and anger that you feel is from the ancient "survival" syndrome that is now inborne. The source of this NEED to survive comes from the simple huge danger you are always exposed to. Always "knowing that you know" is an alternative. Here the feelings below the neck are support, comfort and confidence. Test yourself. Experience something where you "know that you know". Swimming might work. If that is going too far, just take a shower. You can adjust everything in the shower and stand on the floor. CW trading is really, as explained, a totally fear based endeavor for most of you. Each bar is a threat simply because you do NOT know that you know. Your feelings change completely when you go "in" and when you go "out". In another thread named "Do you really like to trade", most posters explain about just making enough to support a life style. Otherwaise, they say, stay the heck out. They also explain that not much money can be made anyway. CW trading simulates the olden days when people lived in caves and it was dangerous all the time. You inherited all of these fears. When you do NOT know what you are doing (above the neck); what you are (below the neck) tells you to escape ASAP. CW is the cave man trading style. You may be waiting for an edge. Then you screw up and enter the market. It is like you're hungry and you go out of the cave to club a cabbage. Instead you get your arm bitten off by a large wild chicken with a very big beak. Cave men probably thought it was safer to hunt in the dark. CW is just like that today in trading. Tie a stone to a stick and sharpen the stone. Now you have an edge.... LOL.... To trade you have to know how markets operate bar by bar and in seven interlocking fractals. You have to have an italian red sports car that is a precision machine in EVERY way possible. Skip the Fiat.
I`m afraid to go short ''sell'',for maybe the same reason.Why am i afraid to sell,whois gonna be the next president...(skip this) I see the perfect bar-by-bar, by volume,by container,by whatever...but i`m somewhat sicchasia to go short...wtf! don`t mention drills,btw it doesn`t help me.drrrils do not help me. I could make 6K instead of the 2K i made,because i`m afraid to go short.I`m a stupid dumbfuck maybe...
''You can adjust everything in the shower and stand on the floor.'' Not always.I wamble sometimes when i try to wash one foot staying on another. Is that where it comes from?
Jack, the lightning has struck... Wow. Just gimme a moment... So overwhelmed. Ohaa. Now, I have got a suggestion for you. Since you have solved a lot of problems in the past... I mean the oil spill, the icebergs' melting and so on, the time has come for me to pay all your good deeds back. You bought a new refrigerator, right? Now if you skip FIAT and FERRARI with 5 transmissions, you could put it on the roof of your DACIA and drive it from Europe to the States. And the best thing is you don't even have to build the CW bridge thing (silly volks indeed who needs the god damn bridge) but just build your mind... God damn. I must be a genius. Sorry... slipped out. Well, what do you think? Send me a bottle of those wines, my mouth is whatering.