Szeven mentioned this in another thread "deterioration of your mental state due to the emotions of trading " I can relate, the continual grind, stress and 'lessons' are taking their toll. Its like a long term decline. I would like to know how traders have overcome and coped with this, especially in their learning phase. Thanks
losing all your money should not worry you one bit...if it does this is not the biz for you...Phil Ivey the high stakes poker player said something like this...im not saying to gamble it recklessly...im just saying it should not affect your sleep if your call went against you...if it does consider a career change...
agreed on the above.... but it could be your over risking your capital in a trade. one experience and educated can help deal with the stress. it may take years or you never achieve them.
No its not about losing all your money and I have been doing OK, increasing or flatline at times. But my psychology is not helping the trading, if you know what I mean. I am trading from home and have been at it for 2 years now so maybe this has more to do with it.
Don't stay glued to the screen for 6.5 hours, Take up some hobbies, Go outside and chill out during lunch, Exercise, Eat right, Get enough sleep Alternatively you can just smoke some weed while you trade, it actually helps a lot. But I would not advise people to do this on a daily basis.
Maybe the question I'm asking is how did you keep yourself in a peak mental trading state. Techniques used? Mentors maybe ? Some guys/gals have done it much harder, taking 5+ years to get profitable, with huge losses. How did you keep yourself going forward ?
What emotions? The first mistake is to assume that there should be any emotions involved in this line of business. Emotions and ego should be checked out at the door before sitting in front of your trading platform. That's the bottom line...
Plus, gives you the giggles when the market blows through your stop... presuming, of course, you REMEMBERED to place a stop, man.
I think my mental state is actually better because of trading rather then deteriorated because I am alert and challenged and constantly in the process of self evaluation. I am confident and exude quiet positive energy. I am in my sixties but I have the physical and mental agility of younger people. I have been through the emotional ups and downs and came to a point where I do not have the stomach to go out on a limb the way I used to. In the meantime I became more skilled and my performance depends mainly on keeping mentally on even keel as a scalper(ER2, CL). Like in sports conditioning helps. I run in the middle of the day and do not go back to the screen on some afternoons. No particular mental conditional for trading except being thankful for having come so far in the game and having the freedom of this lifestyle. J