How do you not get pissed off when you cash in trade to early??!!

Discussion in 'Psychology' started by spanish89, Oct 2, 2008.

  1. This happens to me quite often now and it seriously pisses me off!! GRRRR

    I sell oil, goes down 60 - 150 ticks in my favour so i cash in at support, and dont sell again cos waiting for bounce...

    However instead of boucning it just hovers, then slides and crashes further in what would have been my favour! :mad: :( :( :mad:

    Ive been trading for quite a long time now, but how do you stop yourslef getting pissed of when you miss hundreds of quid profit, just ebcasue you didnt gamble and take extra risk??
  2. ITR2744


    happens to me all the time... but you have to consider, that it's really the correct decision cashing in with a (strong) support/resistance ahead...
    I have to say to myself, that this was just one of 1000 opportunities which are coming... and they are going to come...
  3. Jegnyr


    Profit stop half the position, cash out the other half.
    Remind yourself all the times you let a winner turn loser and be happy to be making profitable trades.

    The woulda, shoulda, coulda will kill your next trade, so stop getting pissed off.

    Last week i made £1,819 at £2 tick.

    If id just done absolutely nothing, not thought about the market, not looked at the markets, not even been near my laptop...,
    just left my sell in place id have made £2,300 this week!!!

    Instead liek a fuking twat i try working hard, sITTING awake all hours watcing every move in the market, streaming all the differnet enws and stuff in, cahsing in at suport and waiting for big bounces to resell...

    And guess how much all that time and work earnt me this week??

    £40!! £40 fuking quid, instead the £2,300 id have made by sleeping all week!! :( :( :(
  5. Xanax, Valium, smoking a bud...
    Or maybe just plain social contact, getting out into nature etc. :)
  6. Just follow your rules. I have now gotten to the point I have no profit targets. I let it ride until it stops me out. I have a lot more losers but also a lot more humongous winners.

  7. lol

    My style is the exact opposite basically mate.. :p

    I workout the main trend direction, oil is down.

    so i wait for highest resistance level, and then i sell down with a stoploss of 1000-2000 ticks (as many as my capital will allow.

    And so i have 96% profitable trades, the losing trades are bigger than most peoples would be, but i normally can see when a lser is coming instantly and so take under 3digit £ loss on those.

    This week has just been fuking me around n pissing me off cos i have been being way way to cautious and not leaving losing trades for long enough because the fundamentals were making them every risky
  8. The Mind of a Trader podcast just addressed this very issue in their 9/29 Podcast (Episode 62). Good listen, give it a shot.