I keep doing the wrong thing

Discussion in 'Psychology' started by Hamb-ltrd, Oct 24, 2003.

  1. I made $.09 on SPY. I suck, I am lucky I did not loose.

    I saw every swing and not only did not go with it but I went against it.

    Somewhere in my subconscious are demons that make me go against to what I see as most probable. And not only that but
    the greed to get the last penny and the fear of missing the boat
    has deep roots in my subconscious.
    What does it matter if I get .20 or .21 in a trade? I act very unwisely indeed.

    I will try to control my demons but is an everlasting battle.
    I guess I have to sleep better, eat well and go to the gym.
    I got to meditate and avoid people who have negative affect on me.

    I was very lucky I did not get hurt today, but my demons play games with me teaching me to win the wrong way...
    That smells disaster, maybe it would have been better to loose today


  2. At least you realize there is a problem. That's a good sign :)

  3. Ebo


    If you consistantly lose on every trade......thats a simple fix......just do the opposite.......I hate quoting Mr. Infomercial but your "biggest enemy is your inner knucklehead" !
  4. I do not have a quick fix for you, but only a few comments...

    1) It is not a matter of "controlling" your demons. First go to the source, you have to look deep inside yourself and determine what is perpetuating these demons. They do not exist outside of yourself. If you can find the root, you can change your perception of them, and some of your demons will simply no longer exist (easier said then done).

    "Do not try and bend the spoon; for that would be impossible. Instead try to realize the truth, the spoon is not real. Then you will see that it is yourself that bends and not the spoon" ~Neo and the Spoon Boy~

    There are some demons that have never left me after many years in this game, but I simply choose not to indulge them, I have learned to get my work done "in-spite of myself", think John Nash and his multiple "friends".

    2) Sleep, diet and fitness will all play an integral part in your performance. This is key that you understand this.

    3) Meditation will also go a very long way in helping you realize that your demons are not your "true self". When you learn that your thoughts are not yourself it will go a long way in helping you work "inspite of yourself"...

    I wish you well...

    PEACE and good-speculation...
  5. mark douglas's book "trading in the zone" is a good book on the psychological aspects of trading. Yes, the good news is that it can be fixed... but it takes time and effort. It's basically about letting go. You gotta want what the market wants. Onceyou want the market to go your way... then the game has become an addiction. Not good imo. Develop rules so you can go where the market wants to go... do a good job of following your rules, and you will be rewarded generously. I see lots of posts about "how much money did you make today?" IMO that is irrelevant, you should ask, "Was I in tune with the market today?" my 2 cents.. :-D

  6. funky


    you are letting your emotions trade for you. you MUST have a strategic plan to extract money from the market. it MUST NOT involve subjectivity. remember, the market will always look like its going both ways before it decides a path. you cannot, you must not, trade with your emotion, or as i like to say 'trade as the market tells you to'. you will get burned over and over again, the same traders taking your money each day. THEY have a plan, a strategic edge (they know the odds). this is why you cannot let the market play you. if you do, it will confuse you until you give up and run home to mama.

    your reality and a winning trader's reality is completely different. you need to take a step back, look at the market as a repeatable thing -- something that occurs in patterns over and over again....in many different flavors.

    i do not 'see' the swing. i am already in my position when the swing happens. ask yourself how you can do this. remember, by the time you 'see' the swing it is too late to make any real money.
  7. When you will stop to see that it is (only) a psychological problem it will perhaps cease. It is not a question of psychology it is a question of knowing the process. Pretty sure that you don't have a journal.

  8. Hi,

    Thank you everybody.

    Harry to make things even worst for me, I do keep a journal 50% of the time.

    I think I know what you mean by saying "It is not a question of psychology it is a question of knowing the process"
    Implement your plan (that has positive expectations) and let the odds take care of the rest.
    Can you elaborate?


  9. Don't be too hard on yourself, trading should be fun.
  10. Harry,

    Don't give all those secrets away! Besides, you'll have a hard time convincing the NLP psycho's.

    #10     Oct 25, 2003