Everytick, Thanks for the links that looks like some interesting info. I agree that relaxation techniques are a better longterm solution than meds. ----------------------- Today I graphed my Equity line from the first trade I took on March 17 till Today. This produced some VERY interesting results. It seems my profits peaked on the 14th at +$900. then I didn't trade again till 4/22 when I F'ud up big and took a large hit trading EuroFX Futures. I lost almost $700 that day and it seems that I never recovered as the equity line slopes slowly downward from that day. Another point I noticed was that prior to the 13th I was strictly applying my trade plan while afterwards I was being much less strict. I see now that there were quite a few days where I wasn't following my plan at all. I have been reviewing my trades everyday but for some reason looking at the info in this way really provided some clues into what has been happening. I think this info will help me get back to trading my plan and to consistent results. Thanks to everyone for all your help.
Anyone try smoking some buddha before trading? When I get high I usually start doing research and wanting to trade. Or munchies and have sex, but that's a diff topic. Seriously though, I wonder if on very slow days it would be a good idea.
you've got it. You can't make the right decisions when you are emotional. Like clock work the market will kick your ass everytime you do this. And the worst thing that can happen is you actually make money when things are going bad and then you've just reinforced bad habits. The key is to just stop. trade out of whatever you are in, get flat and stop trading until you're mind is fresh. That could be an hour, a week, even a month. The best traders never go into that emotional state. Assholes, I've read about these mindless robots and am extremely envious. The good thing is that you can still make a living at this keeping your emotions at a minimum. Once in a while, but identify when it is happening and stop. good luck
Not necessarily true, They just know how to identify that emotional factor quickly and control themselves. It's HARD cause I sometimes see that I'm getting emotional but just CANNOT stop myself from that one stupid trade. Good traders also can quickly accept a bad day if they are having one and just concentrade on controlling it. Train your mind to do the same. If you are taking hits, dont go into a spiral of stupid trades thinking you HAVE to make money. I got screwed badly into deep red this morning in the first 20 min. I said "fuck, guess gonna take a loss today, let me just nick at it a little". Ended up making some itty bitty cash but I'm just satisfied I did not lose anything.