Daily Discipline Reminders - Anyone Care to Share

Discussion in 'Psychology' started by Flashboy, Jun 30, 2003.

  1. I find myself more and more losing discipline through the trading day. Every morning on my way to work I tell myself that I'm going to be disciplined.. Only take trades that are in my plan..etc..etc..

    But as the trading day goes by I find myself losing that discipline.. sometimes trade just to be in a trade.. trying to catch back earlier losses.. among other things..

    Anyone care to share their techniques?? I'm thinking about posting reminders in places that I can't overlook..

    Thanks for any help.

  2. What you feel as the day goes on is the second law of thermodynamics: energy dissipates, order tends towards disorder. No permanant remedy exists for such an affiction we all feel.
  3. bobcathy1

    bobcathy1 Guest

    Get yourself one of those P-Touch things and put reminders all around the frame of the computer screen......like "trade with the trend" "don't trade during lunchtime" "if you don't see it, don't trade it" and any of your strategies you feel you want to note.:D
  4. If you're lefthanded, and use a mouse driven OES, tape a thumbtack with the point facing up, on your left mouse button. I've had many students do that, and it worked well for them and me. You'll think twice before you hit the mouse button, and you'll need the discipline to leave it there, and patience to manuever around it for all of the right entries.
  5. dbphoenix


    Reviewing your brokerage statement is always a plus.
  6. Trading will test you more than any activity I have come across. Ive had signs plastered all over the place and still committed the same mistakes day after day. The only thing I know that helps is PAIN!!!! When you experience enough of it you either quit or get straight.
  7. I went through the same thing and was losing too much daily on "marginal trades."

    When I finally finished my plan IN WRITING, I had very specific criteria for entries. Now here is where the psychology comes in....

    I started using an affirmation to myself as I was thinking about placing an order, "FOLLOW THE PLAN."

    If you DO NOT have a written plan and you say the affirmation, you will know that you are creating a contradiction in your head because there is no specific plan to follow. (you will catch yourself making marginal trades)

    If you DO have a written plan, and say the affirmation, you will "follow the plan" and only take trades that fit your criteria.

    This might sound like psycho - babble, but if you give it a try, the least it will do for you is constantly remind you of your criteria for entry, (if you have one)

    hope this helps,
  8. nitro


    Have an old style ironing board come down on your head every time you make a losing trade.

    If you lose too much, you will start to look like Herman Monster and that should do the trick.

  9. dbphoenix


  10. It can happen occasionally when you are tired: take some vacation then :D.

    #10     Jun 30, 2003