Discussion in 'Psychology' started by exaltedangel09, Oct 23, 2009.
How do you guys deal with a bad week from trading?
get up monday and do it again
Jwalker black label
Stop trading or at least scale back. Find out the reason, correct or mitigate it, try again.
I think you got to treat yourself to something nice. It might be a good meal, a good energy drink, some coffee and cake, watching your favorite show, a good comedy movie, or whatever gets you to think straight again and come back to realizing that small things that are cheap can give you pleasure in life and not all is lost.
At the same time I think you got to remember what Paul Tudor Jones said. I remember watching the documentary on him on youtube where he lost $5 million dollars in one day and remained fairly calm about it. He kept on trading after that and didn't give up. They checked back on him in a few days/months and he made it back plus some. He said he got that ability from watching a portfolio manager he use to work for when first starting out. That portfolio manager was taking a huge loss in the markets when two women came into his office that were either his clients or the wives of clients. They came in to see how everything was going and to chit chat and the portfolio manager talked to them for a while, laughing as if nothing had ever happened, completely calm of the huge loss in the market that day to the point where he could carry a long conversation with people.
Those two stories combined show the degree of level headedness you need to trade long term. As Paul said, it's ok to get upset, you are human and you will get upset or excited when things go right. The point though is to know at the end of the day it's all apart of the process. There are losses and their are wins. One day can wipe out 2 months of work, like it did in Paul's situation. He later got that back plus more from the market. You live, learn and grow.
Better to lose it now and learn those hard lessons than when you are trading amounts larger than you could even imagine. If anything you are just strengthening your foundation.
Smoke a J
suck it up and get back to work
your job is to place orders accurately - nothing more, nothing less - that's what you get rewarded for NOT for profits and losses
first of all, cry, cry so hard that your eyeballs fall out of the sockets.
then think about how many plasma TV sets you could buy with the money you lost.
Same way speculators have dealt with it since time immemorial...
...hookers & blow.
RC speaks the truth. $500/hr doesn't seem so bad when you've lost a few grand in a few minutes in the mkt :-D
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