Bored from Using Goals

Discussion in 'Psychology' started by aeliodon, Dec 13, 2006.

  1. Well I'm still bored - that's why I'm still here on this site.

    But my views on goals haven't changed. I deviated from my goal based approach to trade SCT for a while - and I like the goal based approach better.

    However - I have made the following modifications that have helped me.

    - Use behavioral goals. Stop trading at the 1st deviation from the plan/strategy.
    - Replace $ goals (profit target and stop loss) with trade limits. For example I limit myself to 10 RTs a day. And I'll either stop after the 1st deviation from my plan or right after I hit the 10 RTs. $ goals can distract from good market monitoring as you're thinking of $ instead of good monitoring.
    - Furthermore, there has to be consequences for deviating from the plan. You just can't say "oh I won't do it again, i've learned from my mistake". Because when you repeat a mistake you never learned from it the first time around - you never really learn from a mistake unless you never repeat it again.

    Trading now is pretty stress-free and consistent and I have a lot of free time. Now if I can just figure out a way to do something more constructive with my time instead of just surfing the net (and ET) - then that would just be perfect. I guess we all seek our excitement somehow - but to seek it in the market while trading is dangerous.
     
    #31     May 22, 2007
  2. You poor, poor man. I can only imagine your pain. Our thoughts are with you.
    :p
     
    #32     May 22, 2007
  3. Take up Sky Diving. That should satiate yr desire for thrills
     
    #33     May 22, 2007
  4. ================
    And on a big trend day, you can hold;
    and on a big trend day you can simply get back in also.


    If one had to pick only am or pm for day profits, am is it;
    swing/ position trade differs.:cool: :cool:
     
    #34     May 29, 2007
  5. Leave the office.

    Been where you have been. Had my targets, hit my targets, then got restless. I just shut it all off, jump in the car and go somewhere. Sometimes a Library and read an old book. Shopping for my wife. SHe likes vintage clothing so it's like doing some exploration. Or I hit a naked furniture outlet so I can practice staining/painting, etc... You must have some hobbies.
     
    #35     May 29, 2007
  6. Good post man.
     
    #36     May 30, 2007