+1 This is true. But it's harder to do than taking a vitamin or flossing. There are so many distractions and extraneous thoughts going through your head, it's hard to stay focused sometimes. It's harder to retrain your Mind than it is your body. When you said to keep a journal, what did you mean? A journal of how you feel, like ....I am tired, I don't feel like trading today, I hope I don't lose money today. Or, your thoughts on how to trade for the day.....as in I think the S and P will drop today because employment numbers are coming out and they don't look good..... Exercise is good too. You only need to do twenty minutes of exercise a day to realize a benefit. Exercise releases endorphins which does all kinds of good things for us...elevates our moods, increases resistance to pain among other things. Watch your thoughts, they become words; watch your words, they become actions; watch your actions, they become habits; watch your habits, they become character; watch your character, for it becomes your destiny.” Lao Tzu --- “Whatever the mind can conceive and believe, it can achieve.” Napoleon Hill
what a mind can conceive or believe are two different things. recenly we saw a few examples when incompetence meets arrogance, and you all know what happened.
I didn't mean that one. The option guy didn't complete his trades yet, and his one week trading record was quite good, if that's real, he was competent, at least for the moment.
It's not about relaxing. In fact controlling your emotions is secondary. I think you need to read this book : "the universal principles of successful trading" by brent penfold. I am pretty sure that this book solves your problem
That tells me you don't have clarity or conviction as to what your strategy is and it's resulting in impulse trades. The market moves in a way that encourages impulse trading so its something you need take control of. What time-frame are you trading? If you find the time-frame you're trading is too slow then maybe a shorter time-frame is in order to keep you concentrating. Create a shortlist that you check over before executing a trade so in the event you lose concentration, you don't rush in and execute a trade when the market is moving. Eventually, you won't need a checklist because you'll get so use to checking everything through repetition. GL
Just here for a quick update. Don't know why this was moved but anyways. I started trading at work. Got tired of demo. In order to execuge trades I had to retro fit a tablet I had laying around. It's not perfect and certainy would be better if I was home. But I'm able to get some good trades in. I may keep this until I get caught and fired. I sit in a cubicle out of sight so it helps.