Great system but no b*lls

Discussion in 'Trading' started by michael21, Jun 3, 2011.

  1. I developed a system that works for me....

    I paper traded for 6 months and had about 5 down DAYS in those 6 months...

    My profits weren't huge but they were there...

    I started trading for real and get so scared to open a position that I either hesitate too long and miss it altogether or worse get in too late and lose....

    Everyday I look back and see if I followed my system I would have made can I stop this???

    Any suggestions or advice would be greatly appreciated.
  2. You just have to act without thinking, when you get a signal just get in. Dont try and find reasons not to. If your system works, you have to trust it, otherwise you need to keep paper trading.

    It gets easier the more you do it, which is a bonus.

  3. lindq


    Some level of anxiety is always present in trading. So don't feel that you're alone. But you won't succeed unless you can get control of it.

    One solution is to trade very, very small so that your fear is not a factor in following your system. Once you become more comfortable, slowly increase your exposure. Your initial goals should not be profit, but sticking with your system.
  4. You're afraid to lose, even after all of those paper "profits".

    Something in your gut may be telling you the transition from paper to reality isn't realistic. There's only one way to find out, and that's by jumping in. Just do it with the smallest possible position size. Who cares if that first trade is one of those rare losses. It's part of the game.
  5. I agree with the others who say try smaller size, and then build up gradually. Use fewer shares if stocks, and there's always an alternative instrument if you're talking futures (e.g. QM vs CL, SPY vs ES, etc.)

    EDIT: (Afterthought) - you want to be in a position of being motivated to increase your size by being pissed that you're trading great and not making more money, rather than being pissed because you traded poorly full size and lost a bunch, and now you're scared to trade.

    Make sense?
  6. This happens because you are trading money you cannot afford to lose. Money you need.

    Tell me I'm wrong...
  7. My problem was that I'd get distracted or bored and miss a trade. Now my computer places the trade and lets me know that my order's been filled. I haven't missed a trade since I got this new system in place. (I still manage the exits based on S/R, the tape, etc.; but automating my entries guarantees that I won't miss any trades.)

    If you have basic programming skills, or have someone who can help you, automating your entries will solve your problem.

  8. post the system here or stop wasting our time

    probably a system that buys the bid and sells the offer for 1 cent profit per trade
  9. Bill you are wrong...

    I opened my account with $25,000 and am trading one lots of the ES so that's my point...I can go to dinner and spend $200 but for some reason, I can't pull the trigger on a trade... if I lose 2 5 10 20 ticks who cares??? it's only $100 or $200 out of a $25,000 account...that's why im perplexed.
  10. Tom: great advice...I definitely thought of that but small concern is what happens if let's say I want RSI to be certain amount...let's say 25 but only on its way up...won't an automated system just buy it at 25 even if it's on its way down???

    Stock777: Loser.

    I don't think anymore needs to be said.
    #10     Jun 3, 2011