I been trading for thirty years, I am numb to profitable trades, and if I applied rules to losing trades, no big deal. Only time I feel uneasy if I broke some rule, everyone does that when trading manually. That is why automated methods work well, takes the human factor out. I have done literally over 150,000 trades so far in my time. I concentrate on having fifteen percent or less per week on losing trades and not on concentrating on huge profits. That means many Breakeven trades or making one tic or a few cents. I have trained myself not to allow other people know whether I made money or lost it, it is just a job. I look at trading as I am a Walmart store, occasionally take back returns (losses) but overall I sell to my customers (my profits). I know my stats extremely well, I know how many losing trades in a row in last 100/1000, tells me when to double up when I reach limits. It is all about experience, can you follow your rules, have you tested your method over several years of data. Most of the people who first take up trading don't put in enough time. And if you can't be profitable 13 out 15 days in simulated day trading, you have no business of going to real time trading as the stress adds up and you will make mistakes. Trading is a business. I played Blackjack long ago, and I seldom had losing weekends in Vegas, I made it into a business. I practiced for six months a few hours a day till I was perfect, did I think that was gambling, no. But once you treat card playing or trading as something else other than a business, you will lose. Maybe one of the reasons why so many do so poorly in trading, they should learn how to manage a business first.
Frequent trading is a moronic proposition. It's only promoted by greedy brokers so you generate more commissions, they don't care if you lose. There has never ever been a documented story of a profitable daytrader.
I thoroughly enjoy reading your posts and this one is very very true with respect to trading becoming a problem. I have had this issue in the past and have found that the only way to really get to the root of the problem is to keep a solid trading journal and break down what works and what doesn't. I have found that what doesn't work is my "manual" trading that is not part of the trading plan at the outset. When I strip this out, things look good. So, the solution for me is to cut this out and as you mentioned in a post I think over the weekend, use some distractions/make trading less important in your life etc etc almost thereby giving me only time to follow trades that are part of my plan Keep up the excellent postings
Looks like crgarcia has an apprentice. Before long you will see this kind of posts from him every few weeks.
Has crgarcia morphed into a "riddler"? What a load of crap this thread is. Just how many more of these idiotic threads, let alone these morons, must we tolerate? Can't the mods do something for once? Please no more patronizing bullshit about day trading. Plus, why must anything be addictive in the first place? Only reason you got hooked is because you are weak. Day trading is a tough business that requires rigorous discipline. If you lack these traits, then you're not cut out for day trading. Go look elsewhere.