Dealing with micro-management

Discussion in 'Psychology' started by Leopard9, Dec 4, 2018.

  1. Leopard9

    Leopard9

    Hello everyone. For those of you who have successfully completed this phase, I ask for advice. I feel im near to unlock my full potential as a trader but some level of fear and micro-management is still in the way. My system works and my intuition is very acertive. I dont freeze anymore but i cant seem to correct my micro management issues and control my emotions while im in. I trade mostly futures, especially the NQ, intraday. I could tell you some stories of how bad it gets but i think that isnt necessary.
    I am applying the teachings of Mark Douglas and im currently on my third 20 trade exercise. How to bend your mind to finally stop micro management once and for all? How did you do it? At this point im thinking of going away from the screens or unplug the mouse... Its a little bit compulsive especially in volatile environments.

    Thanks
     
  2. Given your strategy, what is your projected holding period? And are you looking at the screens when you shouldn't?
     
  3. Leopard9

    Leopard9

    Day trading mostly. Yes, short time frames. Always looking at price action :S
     
  4. wrbtrader

    wrbtrader

    You exiting profitable trades too early...before the profit targets are reached ?
     
  5. Leopard9

    Leopard9

    Yup... Mostly yes
     
  6. wrbtrader

    wrbtrader

    Too many trades outside of your trading plan as in intuition trades or emotional trading ?

    Trading with money that you can not afford to lose ?

    Easily distracted while trading via something else in your trading that has no impact on your current trade (open trade) or you're so focus that you don't see the big picture...resulting in missed trade opportunities that would have been profitable ?
     
  7. wrbtrader

    wrbtrader

    What time frames you're using ?

    You just day trading for points or scalping for ticks ?
     
  8. Leopard9

    Leopard9

    Not really. Im more patient now. If risk increases too much i dont take it unless its a stupidly impulsive move or algo driven where chances are better. Not losing nothing I cant afford. Sometimes i miss oportunities yes while distracted on other instruments and I get frustrated.
     
  9. Leopard9

    Leopard9

    15 min. Between intraday and day before fibo levels. Tight stops. Not taking many chances on swing trading on this environment.
     
  10. wrbtrader

    wrbtrader

    Nobody here knows your real routine as you move from trade to trade or from day to day as a trader. Thus, for you to feel like you're micro managing...there's things you have not yet mentioned.

    On the surface, you're doing too much or you're not efficient at the things you're doing.

    Holiday's are approaching...its normal for us traders to feel a little overwhelm this time of the year especially when you're also concentrating on other instruments and some may think in error that they are micro managing their trades.

    Take extra time off from trading...longer lunch breaks, exercise, more time with the family, lengthen your vacation and other personal things that easily gets you away from trading (away from your monitors/computers) for a little while...it may re-energize you.

    wrbtrader
     
    #10     Dec 4, 2018