How to control ourself when we lose money?

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

  1. SunTrader

    SunTrader

    No great mystery. Either you control yourself or you don't.

    Which leads to, either you continue to be able to trade or you don't.
     
    #41     Aug 5, 2020
    Bill Marwick and Volfixtrader like this.
  2. Thank you for Psycho cybernetics. I read a lot of book in this field but haven't known with this work. Yesterday have started to read and found that some ideas are very useful.
     
    #42     Aug 6, 2020
  3. I found that for some people it very easy to do it. Usually if they have done some continuous actions for a long time: as have practiced sport, studying, dancing est. They used to be disciplined by routing work. We can train our discipline in the same way as we can train our muscles.
     
    #43     Aug 6, 2020
  4. maxinger

    maxinger

    don't know who coined the word psycho cybernetics.
    I am sure some people call it by other names to promote their services.
     
    #44     Aug 6, 2020
    Volfixtrader likes this.
  5. I started read of Maxwell Maltz. But he used anoutehr word for explaining. But you are right tecniques are similar, but I liked his basis idea.
     
    #45     Aug 6, 2020
  6. Will90

    Will90

    True! There is no scientific formulae or way to do that. Losing is a part of trading and traders must know how to cope up with that.
     
    #46     Aug 28, 2020
  7. Elly9

    Elly9

    The only thing we can do is to remain unaffected by them. As we already trading is all about profits and losses. Today may be good but tomorrow might be bad and vice-versa, so we need to have a strong mindset to be able to bear all that.
     
    #47     Sep 3, 2020
  8. easymon1

    easymon1

    A tip of the hat to Robert Morse for his post...
    'What is your process?
    What triggers a buy or a sell to open?
    What triggers an exit?
    How do you size your trades?
    https://elitetrader.com/et/threads/...solid-trading-plan.340340/page-4#post-5031706

    Definition of discipline
    a : control gained by enforcing obedience or order
    b : orderly or prescribed conduct or pattern of behavior
    c : self-control
    Definition of self-control
    : restraint exercised over one's own impulses, emotions, or desires

    “Can I trade 100% Inline With My Plan And Rules On The Next Trade I Take?”
     
    #48     Sep 3, 2020
  9. Bree98

    Bree98

    Correct! Trading does not show up the same results all the time. All we have to do is remain calm, no matter we have profits or losses.
     
    #49     Sep 4, 2020
    Elly9 likes this.
  10. Elly9

    Elly9

    Yeah... the road to success is through a healthy state of mind.
     
    #50     Sep 11, 2020