I'm losing money and can't stop. How do you be patient?

Trading is gambling. Pure and simple. You either have a gambling problem or you don't. An online forum with anonymous internet users lying about their success in stocks isn't going to make you rich.

 

Patience is a skill acquired over time however in the short term you may want to try meditation....

 

I live in Southern California. It's a gamble every time you get in your car and get on the freeway.

While trading is to a certain extent gambling, I think that analogy is used too much by people that can't own up to their trading decisions. External causes are easier to look to than inward, where the truth really resides.

 

Please tell us when you get EMOTIONAL about a particular trade.

 

Yea, you be asking where I have the Easy button?

 

Hello,

If you system tells you wait for the setup to enter trade. Then you must do just that.

One reason you maybe entering gambling trades is because you do not fully trust or fully backtested your system.

For instance, if your system tells you out of 4 trades you take 3 will win and 1 will lose, there is no reason on earth to not follow that system.

Are you sure you trust your something?

Thanks

 

You could argue patience with trading is a myth, sometimes your impatient and it works out great ( guess you'd class that as a patient trade though ?? ) and sometimes your too patient and you miss an entry and sometimes your patient and it still keeps going against you.

Buying in a uptrend, on a pull back which is just a pull back and not to far to be a trend reversal is a tricky tricky fine line. Any other way gets you chopped to death fun fun fun!!

 

Have you thought of robotrading? In your prior thread, you mentioned you had a very good system that was very profitable. If you think your system is good, why don't you just automate it, sit back and let it does its thing? You can always on the side "gamble" a little money in a small account if you have the urge to trade.

 

http://adamhgrimes.com/blog/one-thing-thing-matters/

Good reminder.

My only suggestion is to put a note above your trade station saying " Don't be an idiot, follow the plan".

What I did lol

 

I'm losing money and can't stop. How do you be patient?

Learn to look at the big, greater picture of things. -- that will help temporarily calm your nerves. and help you breathe. and recollect yourself at any given moment.



-- i'm a man of a few words, i think there's greater wisdom in less. -- if you only know how to read and interpret them.