Hello, i am not sure if this is right in psychology, but i think yes. i have a problem with the way i trade since the day i started to beeing successfull in my gambling with the markets. The problem is that i have super good and perfect strategies, where i am able to make big risk trades to gain big profit, so far so good. but the fact is that i have to wait and wait, always to wait so long until that different situations appear and i can finally, click the trigger for buy and sell and feeling happy watching making profit. Until that timepoint its just sooo boring. Maybe i need a hobby ? And then i cant stand it, when i start to sit in front of my monitors and analyse the markets for trade situations, i always see the same. i see all the moves, i think i know how they come out and then i must trade, its like beeing addicted to pull the trigger, its like beeing a junkie. I just must make money, when i watch the markets, and see the price and think i know you, you market. I dont do this blind. I see the setups i would have done with my ruels on a bigger timeframe, but now the price have moved to far to go in now, and so i trade then the cycles in the lower timeframe of this setup, its like scalping the overall pattern move. And the problem is also, i do this on the bigger timeframe patterns, what are not the Best of my Setups arsenal, but i know they will work out often enough, and so long energy is right this little scalping trade will work out, if its not working i know when to get out. So in the end i dont do anything i should according to my rules, or maybe then only 50% of my trades are that what i should do - according to my perfect master rules. I think then i have a feeling for the markets, i go crazy and think i know everything, and thats the point where it becomes dangerous, because i tend do become less and less patient with my trading. i just should stop trading, i cant do it anymore. I am successfull with that. its not the problem, that i would loose with doing that. but its more intuition than correct rule based system trading. And i have absolutely no rules for that intuition scalping style. I know it will work, so why should i not buy and sell then, i just can not sit there all the time and do nothing. i need it, i need the kick, i need the quick money. Now will some people always say the same, "you have to be patient and wait for your right situation before you do a trade, bla bla bla ......" i know that too, yes for the right big trades, it is ok. but if i can make 10 little trades, its almost like a half big trade, if i am right with this little 10 moves. I dont know, is it bad or good trading ??? I really dont know, it makes me crazy. Because i hate it to miss a big trade entry situation, and watch the trade going on all the nice big move without me, that really sucks hardcore, i could kill myself always when i see that. Should i automate my trading, so i could not miss the right entry timepoints anymore. i want do be independent of automatic systems, i want do to it all manual, so that i just need my charts to trade. And i can not be satisfied with my super perfect strategies, no i have always to work on it to find more and more strategies, to make more and more trades in shorter time, to be able to trade at anytime i want, this is totally crazy, there must be a stop point somewhere. I just want to stop it, and trade my perfect strategies and be happy with that, but i cant , i cant. Is it bad trading, while i still make money with that ? i dont know ? This all sucks, I hate trading for beeing so boring. Can anyone help me ??? Thank you
maybe my problem is, that i can not decide if i want to be a daytrader or swingtrader, and stay with that. in the end my personality says i like it more to be a short time trader, the shorter the better. but the very good moves are not on a short term trading style, they are on a swing trading style. i dont know, this all sucks, i just always want everything, i am to greedy, i cant get enough. since i got it once how to do to be successfull, i cant stop i always want to be better than i am now. Are there traders who are over that point, who let that questions behind them and found satisfied answers ??? I hope you understand what i mean, because i know my english is not the best, sorry.
it is like "freestyle trading" VS "rule based trading". I would not bet millions on freestyle trading, but it is good enough for a few hundred thousands. or is it "experience trading" VS "statistical theory trading". This is a very big problem ? Maybe i just should work harder, much harder, and work rules out for the freestyle trading style and change it so to a rule based trading, just make rules for every fucking situation. But if i do this i will still work on it in 20 years, thats so much stuff. Every situation have so many divergencies, what make the little diverences, what will have big results for the outcoming of a price move situation. I am waiting for usefule answers. Greetings
=============== H-TT; Yes. In other words, do i regret not going long Citigroup, because the investor bulls had a good run to $55 or $550 area/+. Not really,long story short, because Investors Business Daily simply has some better ideas.And Walmart does some profitable trading, daily, but thats not a stock tip, or suggestion to move to Arkansas[Arkansas nickname is land of opportunity]. So to be wise about your time frame; it depends on location, location, location, & personality.
Aha, and why not mix your time frames together, so you can trade Citigroup and Walmart together on one day, while still be long Citigroup with a big investment, doesnt matter if you live in arkansas or tokyo.
Could it be your backtesting sample size is too small and you have little faith in what you are doing? There are usually like 2 business, government cycles in ten years. I do my testing on ten years with min of 3000 sample size of each signal, I might get over 10,000 samples and can pull down weekly drawdowns. By adjusting money management rules, drawdown will either get larger or smaller. I find I feel the most unsure is when I have not seen a certain pattern many times in past ten years in which case either I get out or lighten contract size or shares. Another idea may be the method is not robust enough to work on all instruments, some stocks rip in one direction or another whereas some stocks have cyclic rotation, so depending on your method, it is like comparing apples to oranges. When I wait for a signal, I constantly have ideas to test, so do that or chat on phone to other like traders.
Two possible solutions: 1. keep losing and eventually blow up enough times until you finally get sick of it and implement some discipline. 2. find a disciplined person to work with, whose job is to ensure that you trade your strategies and avoid any other BS trades, distractions, errors etc. I suggest the latter option.
It sounds like you may be trying to decide whether you want to Swing Trader or Day Trade?? If you decide to Swing Trade, find a hobby. If you decide to Day Trade, use your "perfect master rules".
You could continue to swing trade and then just day trade with a practice account, I mean if all you need to make the then trade a practice account is perfect because you get that satisfaction of trading with none of the risk and hey at the end of the day you are making that green with your swing trading so its not like you are wasting your time.
-------------------- Hell yeah, i have decided a long time ago, that i be a mixed up trader, day & Swing tha trade. Swing trades are my basis of the business, its like i make money doesnt matter if i want to watch the marekts the whole day and do daytrades. Yes sometimes i also want to do something else under the week, than sit all the day in front of the computers. I tried a lot of hobbies, between the daytrades and the daily trade setups training and studying my rules and analysing the markets and managing my positions, boring time: reading books, watching movies (letmewatchthis.ch), playing games (PC, X-Box), cooking, drinking beer and whiskey and wine (but not too much, it will have bad effects on daytrades ). I am perfectionatelly successfull with all my "rule based systems in day & swing trading" and in my overall business. Exact how i want it, how i worked the plans out. and i always top my plans and profit minimum targets. Thats my constant goal, to always getting better, to always making more money, while having the same low risk %. BUT, i still will keep doing the "intuition day trading style", because i have the feeling for it, and i love the action beeing right. That are situation i gone through in my strategie analyzing the markets proccess all the long time, but i never finished that strategies to a 100% perfect status, but i know it will work maybe with an 60 -70%, so thats ok, for a little risk % and a gaining satysfing day, that kills my boringness. Of course the big money is only in swing trading, i make the big money there too. So, there are 3 styles for me: 1. Swing trading = Big Money (rule based 100% perfect style) 2. Day Trading = Good Money (rule based 100% perfect style) 3. Intuition Day Trading Style = Little Money and my hobby. Maybe its just my hobby to trade that intuition style. What a freaking view of trading. hahahahahaha:eek: