going on tilt and revenge trading have nothing to do with being a degenerate gambler. Trust me I play poker almost daily and in the 5/10 i play with a bunch of degenrates day in and day out....and they never go on tilt .....they are so used to losing it aint even funny.... work on not trading while on tilt or when trying to revenge trade.,..thats alll...peace
Mate im in a similar situation to you kinda... Im probably younger than you though.. lol (18) I probably have alot less money than you (£2,650 capital), that all the money i have in the world, and traidng is my fulltime career that i need to use to earn atleast £1,000 per month each month just to pay rent. :eek: So i really really do understand what it means to be under huge pressure constantly. And unless you are ridiculously rich, with money to burn, YOU WILL HAVE ALOT OF EMOTIONS WHEN TRADING. At the end of the day your earning or losing lots and lots of money very fast. You would be inhuman to not feel something about that. I personally took a huge huge loss of £836 yesterday, that was about 27% of my entire account just gone, and undid all the money i had earnt so far this month that i really really needed!! It fuking hurts and crushes you, and makes you feel like your crap and an idiot and loads other feelings..., But the way to get up and keep going is just take the day off and then eventually just say to yourself in your mind ''IF I CAN LOSE THAT MUCH MONEY IN 1DAY, THEN I CAN JUST AS EASILY MAKE THAT MUCH MONEY IN 1DAY TOO''. And then when you get back to your trading just focus on what you do, trade the markets.
I just got this today, love the story at the beginning of the book. I can see myself in that guy a little(and I ain't got a wife). His distinction between amateur and professional traders is a must read for those struggling to prepare for the trading day or stay in the correct mindset for trading. I was able to skip some of the parts that were for people not familiar with futures/options.(The author makes it clear most traders he knows only trade stocks). This book reinforces the reasons why trading with a plan, different setups for different market conditions, and sticking to them is crucial for success in this business. First book since "Trading in the Zone" that I am looking forward to finishing and feel I am getting knowledge from. Thanks for recommending it.