Hey gents and gals, I need some help to see if anybody has experienced the same issue I am going through. For almost the past decade I had been trading with my godfather who taught me the basics, to forex, to etfs and options. We were able to produce very great return rates (+20%) and we would spend hours talking about technical vs. fundamentals and other financial stories. He had a library full of trading books and such from A-Z. He passed due to a bout with cancer after about three years this August. We would talk about the markets instead of cancer and he really enjoyed that. He left his estate (+3.5M) into a Trust with me as a Trustee to continue trading/investing and I am still coming to grips with that. To get to the point, I am finding myself being unable to trade how we used to. I have ID'd many trades and just can't pull the trigger for some reason. I had the trade sitting in the queue and just didn't execute it and I know he would have called me a fool because I was within our "rules/system" but don't know how to get over it. Anybody experience something like this? Shall I try to find a new mentor? TLDR: Trading Mentor has passed away, unable to trade mentally anymore.
That is a tough one. You associate trading with the relationship you had with someone. Now, the best way to honor him is trade in the same manner that he taught you for the benefit of the trust, which he has put you in charge of. I would think another mentor would not fill the gap. You just need to focus on the responsibility he has given you and know it is an honor. Good luck, Bob
The mental block is amygdala hijacking (emotional hijacking) , this is where your rational thinking brain gets blocked by the emotional brain. Just search google and learn about the subject , it is a science not my opinion Trading with emotional intelligence than emotionless
Simple solution which works for everyone including newbie to pros: if you aren't confident and uncomfortable to trade, the best way is to start trading small until you gain your confident back before trading big again. GL.
You've asked the question for which there is no answer... "How do I make myself do the right thing?" Referencing the sagacity of Yoda... "There is no try. There is only do or do not."
If you can't live without him, get a big picture of him and put it in his chair. When you see a potential trade ask him what you should do and do what he tells you.
learner - that is something different. I have really old print out of our "rules" and I'm going to frame it. I think that it might not be a confidence thing but just wanting to open up the trading suite is difficult. I used to spend hours talking trades and looking at the same charts now its just blah. I will definitely work through this. The going small was 50K and he would do 250K trades like they were 2.5K. When we first started he wouldn't allow me to trade anything over 10K and I would have to tell him what the trade was. He then let me started trading on my own and took off from there. I appreciate the advice and it is good with the exception of the first post mine.
You might as well go to a professional phsychologist , or go to a zoo and observe chimpanzees and you will see why they could give better advice