Its so easy to pull the trigger on Trades when trading electronically

Discussion in 'Psychology' started by Flashboy, Apr 29, 2003.

  1. I just started trading E-mini electronically this week. I made 4 trades Monday and 6 trades today..

    With electronic trading and such low commissions its much easier for me to justify to myself taking a trade..

    My thinking is if it doesn't work.. heck all I need to do is get out or even make a .25 of a point and I come out ahead on the trade.

    Well, this is making me take trades that I shouldn't be taking..

    I'm trying to step back, slow down and realize that I don't need to try and make 10 points a day... with my goals and circumstances, I have a full time job, all I need is 2 points a day at most.. or just 6 points a week even.. to get to where I want to be..

    I feel this is why so many traders fail.. they fail to control their emotions..

    I'm one trader who's working on it..

  2. have u traded on the floor before ?

    if so, how was that ?
  3. You can't conclude after just one week, even after 6 months even after 2 years since many professionals future daytraders lose their shirts after 4 years :).

  4. TKO,

    no I have never traded on the floor before..

    Been trading off and on for about 4 years...
  5. I have known the open cried market in France and there is a difference between electronic and open cried: it is easy to pull the trigger but the slippage is not the same. I was a micro-scalper before and when electronic came I didn't suspect any difference before I realise that I had lost my competing advantage on this scale so I have to go on upper scale although I continue to do scalping it was no more a scalp of a few seconds as before.

    If you remember reminiscence of a stock operator, Livermore described the same type of problem he didn't realise at first.