Dealing with micro-management

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

  1. Leopard9

    Leopard9

    I have now evolved a bit. Now I take and accept the risk. The most frustrating thing in trading is losing money when you are right because you cant handle the pressure. Im not doing it anymore. If market pushes me off so be it. But I let it move before it takes me out and prove me wrong. I'l get it next time. One or two good trades and all the losses are paid for.
     
    #31     Jan 4, 2019
    formikatrading likes this.
  2. Leopard9

    Leopard9

    Like me you need to snap out of it. After all what that does is destroy our accounts. It takes balls especially with futures but the rewards are there if we let the market move more freely. Aditionally I now have a new rule. No more breakout trading. I only get in in strong momentum algo trading or in a retracement. Keep posting your progress here. It helps.
     
    Last edited: Jan 4, 2019
    #32     Jan 4, 2019
    formikatrading and Newc2 like this.
  3. Newc2

    Newc2

    Thanks. I read somewhere to write off a trade as soon as it is entered ie accept the amount risked as having been lost. It's supposed to trick the mind into detachment. Might give that a go.
     
    #33     Jan 4, 2019
    Leopard9 likes this.
  4. Leopard9

    Leopard9

    You have to or you wont survive, pure and simple. Let it move, control your fear and dont interfere. If you are intuitive and your process works you will make money. Never tight your stops too much. Adjust to volatility.
     
    #34     Jan 4, 2019
    Newc2 likes this.