I didn't read all the posts. This is one of if not the most difficult things in trading. Humans are driven by greed, especially traders so it's not possible to be non-emotional. 1. Consider meditation or hypnosis. 2. Exercise 3. Get a good night's sleep. 4. A good multi vitamin. Maybe some suppliments like theonine or 5THP. 5. As mentioned automate and reduce size. It's about managing the stress from trading since it's not possible to eliminate it because of our value system.
Just except the fact that you WILL lose sometimes. How much is up to you. Want a game with no risk, play checkers.
- accept the fact not everyone is cut out for trading - it is very hard to change yourself for this job so only take trades that fit your emotions. In other words, continue to seek increasingly lower risk high reward trades until you find a trade with which you are comfortable. Even if that means many fewer trades. -condition yourself to taking money out of the markets. If day trading, consider once profitable for the day - close shop - walk away - do something else. Even if that happens in the first 3 minutes of the open. Even if that means only $50 or some smaller amount. This conditions you to taking money out.
ok, here is what has worked for me. #1. play online poker. you will have almost exactly the same emotions that you have trading, only they come at you a lot faster. you can also play for pennies so it won't cost you a small fortune to learn like trading does. #2. trade at howthemarketworks.com with their paper trading account. I have always laughed at paper traders and thought it was just dumb. but that was when I had a million bucks in the bank and was just goofing around trading. now I am broke and I really need to learn this and make some money and I can't afford to spend a lot learning. With this account your fills on really liquid stuff like SPY will be almost dead on. with thinly traded stocks it will be off some. But here is the thing, many of your emotions will be the same, but not as bad. so if you can't make some money with this paper account you are just throwing your money away with a real money account. So that's what worked for me.
THAT IS HILARIOUS!... soooo familiar... I remember once last year I was watching an NQ trade 6 points or so in my favor.. I was about to "take my money and run" as my rat mind usually recommends.. Phone rings and I leave the room while yaking.. I return 15 mins later and whooaa!!? 12 points now! So rat brain IMMEDIATELY exits the trade... a few minutes later 8 points more I was cursing!... Rat mind traded the afternoon and gave back half of the 12 points... Leaving the room has to be the best solution...
Rashid, yes, leaving the room is the Holy Grail of trading! The critical thing, though, is that you actually PUT ON THE TRADE before leaving. You can't see a setup forming, think "I'll just step away for a moment and then get this trade on in a minute". That guarantees the move will take place without you. Once the trade is on, however, you are free to (and encouraged to) leave for any reason - coffee/tea, snack, shower, sex, chat with friend, sex with chatty friend, save the world, etc. - and when you return, max profit is guaranteed!