Is it just me or do others "somehow" choose not too see what is happening right before them and do something stupid or counter to your strategy ? Like shorting this AM rally or buying at obvious resistance eg ? Would this come under a perception bias or some other subconscious "process"? Maybe a sense of detachment or emotional indifference may help but I am definetly not seeing or registering obvious levels, trends,etc... at times. Any suggestions ? Thx.
Look at more charts........Your subconscious will eventually make the trades for you.......I mean in your sleep, etc. For now experience, experience, experience.......Knowledge,Knowledge,knowledge.... The more time you put in the more you get out. PS you are never to old to learn Everything that you do, is done for a sole reason of satisfying the EGO
Don't think,...feel! It is like a finger pointing to the stars. Don't concentrate on the finger or you will miss all the heavenly glory. Do you understand? That's enough of that load of bull! Aspenboy, why are you not trading your plan?
This is as good an explanation as you will ever get. Your eye ( which feeds the ego) will naturally take you to tops & bottoms in any time frame, because it wants you to win according to it's pre-conditioning. This game is all about making lots and lots of money and not giving it back. It is not about winning. Therefore, as someone mentioned "what about your trading plan" An excellent question indeed. Sounds like you are not ready for "live ammo" yet.
Appreciate the feedback. Actually had just had a nice run w/high % of winning trades(e-minis). I think my prob,on the whole,may result from a lack of focus/concentration,revenge trading and ,which is rather interesting,being upset,disturbed over events in personal life. In hindsight,it makes sense how emotional influences could be carried over into my trading...possibly more so than I was aware of or realized. Frankly,and slowly but surely,I feel psychoemotive issues are more important than TA,chartreading,etc..(for me). This and money mgmt.could be the keys. Fear,hesistation...my two nemesis(along w/their cousin-paralysis by analysis).Which probably results from some form of fear... Damn...no one every said it was going to be this difficult! lol
aspenboy "Fear,hesistation...my two nemesis(along w/their cousin-paralysis by analysis)" Here's how to root these out. Use screen capture software to compile a manual of you're set ups and refer to it frequently. If your set ups are working you will quiten the inner voice. If they are not then listen to the reason for your paralysis and refine your set ups. Discipline is easy when you have inner peace. If you have to fight to be disciplined your subconscious knows you are flying by the seat of your pants and will screw you up. Don't fight it, convince it. If your set ups are not crystal clear in your mind, and/or if your have not convinced your inner self they work, then a "lack of focus/concentration,revenge trading and ,which is rather interesting,being upset,disturbed over events in personal life" will revisit you.
Do you have a simple, strict set of trading rules that you can follow? Possibly. You might find a quiet place where you are undisturbed and reflect on your question. I sometimes experience a sense of confusion, carelessness or difficulty focusing on my trading work. I spend time experiencing the feelings associated with confusion, carelessness or focus and something changes. Maybe I go play tennis for awhile or get some kind of exercise and a few days later I am careful again. Maybe the feelings are a signal to to me to take a break. I experience a perception bias occasionally also. I sometimes feel that I "can not see the forest because there are too many trees blocking my view". I experience whatever feelings appear. I try to remember the feelings that immediately precede the confusion. I share feelings with my neighbors. I suspect my mind is cluttered with too much junk. I try to forget everything that I know and build my thoughts again. I interpret the feelings as a signal that I overestimate my own knowledge and competence. Sometimes I realize that I have little or no control over anything.
Interesting stuff. Some v. nice insight and suggestions. Something is hitting me...the potential influence,power our subconscious has. Do u guys really feel it can be that powerful a force in our struggles towards consistent profitability? I'm thinking it is much more important than I ever realized. On a similar sidenote....I have very recently started listening to a Trading Subconscious Hypnosis CD by Robert Krausz-who was featured in Schwager's last Market Wizards book. It is called "Mental Harmony For traders". He was a trader and certified hypnotist. If anyone would like contact info,just PM me. (I have no commercial or personal affiliation with this company. Just a sincere mention as it appears to have benefitted many and am hoping it will me also). Thx. again for the responses. Have a nice weekend!
It looks like you know what you did wrong but your careless way seemed to have the upper hand. Try to strategize and be more mechanical, don't trust your subconsious mind; it is not very useful while executing a trade.