How to control ourself when we lose money?

Discussion in 'Risk Management' started by Volfixtrader, Jul 21, 2020.

  1. guru

    guru

    Why would anyone need to control themselves? When you run out of money you just go get some more.
     
    #11     Jul 21, 2020
    smallfil likes this.
  2. smallfil

    smallfil

    Yeah, why work for monies when you can just steal it? Can't chance breaking their fingernails and getting a strain making burgers. That is back breaking work. Easier to just take things since, Democrat mayors and governors already told police to stand down.
     
    #12     Jul 21, 2020
    guru likes this.
  3. SunTrader

    SunTrader

    Classic line (note Shemp the bartender):



    Also plan the trade, trade the plan.
     
    Last edited: Jul 21, 2020
    #13     Jul 21, 2020
    Volfixtrader likes this.
  4. Trader Curt

    Trader Curt


    I wonder if those idiots know the money is kept behind a steel vault? So stupid, now they're going to be wanted by the FBI for stealing nothing! But hey, at least they are proving a point:vomit:
     
    #14     Jul 21, 2020
  5. If somebody trained their brain to be discipline in any case it will help. Unfortunately majority can't do it.
     
    Last edited: Jul 22, 2020
    #15     Jul 22, 2020
  6. Usually people lose their head in both variants: when they win and when they lost. There are alot of stories what happened with people who won big money in lottery.
     
    #16     Jul 22, 2020
    Trader Curt likes this.
  7. Becoming disciplined about all aspects of trading... is a MAJOR challenge! As for "majority can't do it"... I suggest most haven't tried hard enough, if they've tried at all. I sometimes get the feeling that traders kind of "get involved" in the markets and hope that by osmosis or other that it finally all just comes together for them... like having an epiphany by getting struck by lightning or finding the mother lode. Doubt it works for anybody that way.
     
    Last edited: Jul 22, 2020
    #17     Jul 22, 2020
    Volfixtrader likes this.
  8. there is opinion in economics science about "homo economicus" (R. Thaler) people who always make correct rational solutions. In the real life we have situations which were described by Soros about regular overestimation and underestimation which often happen on the markets. This is why prices sometimes do something critical that not suitable for standard systems of deviations, and not in the frame of fundamental reasons.

    We sometimes naive when thinking we can control our losses or our behaviour during big losses. So the topic was about that we sometimes make irrational choice based on situation in which we trapped, and often our conclusions and actions aren't logical.

    And one of the solution is decreasing of impact such cognitive traps by decreasing of sizing or bets.
     
    #18     Jul 22, 2020
  9. SunTrader

    SunTrader

    The only money most branches hold overnight nowadays are in the cash machines and safety deposit lock boxes.
     
    #19     Jul 22, 2020
    murray t turtle and Trader Curt like this.
  10. SunTrader

    SunTrader

    Or just exit. Works for me.
     
    #20     Jul 22, 2020
    murray t turtle and Volfixtrader like this.