How do you deal with the fear of pulling the trigger?

Discussion in 'Psychology' started by keyser, May 6, 2004.

  1. keyser,

    You need to feel good about executing your system. You need to associate a good job with that duty alone. Profit will come as I assume you have a good system. If you cannot master this consider auto-trading.

    Michael B.


     
    #21     May 8, 2004
  2. Hi Michael,


    Auto-trading? Sounds good. Do they also send the profit direct to you? LOL. Where can we auto-trade?
     
    #22     May 9, 2004
  3. www.strategyrunner.com

    Give them my address to send the checks.

    Michael B.


     
    #23     May 9, 2004
  4. Thanks for the link. Now I can go fishing every day...
     
    #24     May 9, 2004
  5. You can do whatever you want, just so they send me your checks. :)

    Michael B.


     
    #25     May 9, 2004
  6. RAMOUTAR

    RAMOUTAR

    #26     May 9, 2004
  7. nkhoi

    nkhoi

    that is what I use and make sure to allocate your 'loss' amount accordingly, say to yourself I am willing to lose $100 today then pull your trigger put in $100 stop loss and watch your 'goal' come true. :p
     
    #27     May 9, 2004
  8. Seems reasonable. I like that style .

     
    #28     May 9, 2004
  9. have a loss expection. and hope for the best. :D

    learn to take profits. if you don't, someone else will take it from you. :eek:



    never the other way around! :cool:



     
    #29     May 9, 2004
  10. benysl

    benysl


    good one I used to do that. If I had a $10000 account and my stop is $500. The moment I am in position and place my stop loss. I look at my current statement $10000 - $500 = $9500. I will tell myself my account TODAY is $9500 and if it is anything more than that it is a BONUS to me.

    I used to trade with couple of friends. I follow a mechanical system like I always say I expect to lose but hope to win. My friends always call me nuts and ask me why trade when I expect to lose. I only told them system is system my system is not 100% win there is always losing trade and I don't know when is the losing trade the only way is to expect and prepare for them.

    It work really well for me, even now I am still using this principle.

    The other way is look at your Max drawdown and Max consecutive losers. Example if Max drawdown is $3000 and Max consecutive losses is 5. I always tell myself my first $3600 (20% more than max drawdown) will be gone the moment I start trading. Sometimes I wait for the system to hit 1 loser before taking the next trade. So the moment I start the system I would expect lose lose lose lose lose. Over the next 5 trade if I ever hit a win (very likely) it would be a bonus.

    Hope it help

    keep us update on your progress
     
    #30     May 9, 2004