Most Difficult Trade

Discussion in 'Psychology' started by NoDoji, Mar 15, 2011.

What's your most difficult trade of the day?

  1. First setup of the day

    9 vote(s)
  2. Setup following a losing trade

    8 vote(s)
  3. Setup following two or more losing trades in a row

    33 vote(s)
  4. Setup following one or more trades where you violated your rules

    8 vote(s)
  5. Setup after you dug yourself out of the red & into the green

    14 vote(s)
  6. Setup after you attained a minimum daily profit target

    5 vote(s)
  7. Setup that would position you opposite your bias

    19 vote(s)
  8. I trade all setups from the open to the close

    19 vote(s)
  1. Bias
    #11     Mar 16, 2011
  2. ammo


    yeah ,idle mind, all day alone in front of a screen,gotta point
    #12     Mar 16, 2011
  3. I trade all setups.

    My job is to take my signals, there is no hesitation.

    You either believe in your ability to consistently read the market or you don't,

    #13     Mar 16, 2011
  4. deaddog


    My most difficult trade is always the next trade.
    #14     Mar 16, 2011
  5. Pinozi


    I wish I could split the vote between after a couple of losers & bias
    #15     Mar 16, 2011
  6. bighog

    bighog Guest

    #16     Mar 16, 2011
  7. My most difficult trade is always the first one of the week. It's funny, but after I take a loss or two, I seem to settle in.
    #17     Mar 16, 2011
  8. That's where discipline comes in.

    If you're having a bad streak, it's usually because (1) your bias is wrong, or (2) stops are improper... either too tight or not placed at most reasonable place for the charts.
    #18     Mar 16, 2011
  9. Nothing greater than a -10 tick initial stop for CL is necessary. If -10 cents won't hold, chances are good that -40 or -50 won't either. It's all in the key entry points identified and taken :)


    My toughest trade used to be going with an opening gap instead of expecting the eventual close = looking to fade. Now if there is a slight price move towards the gap and signal to enter going away from the gap, I just take it without emotion.

    The style I trade has no directional bias... it is direction neutral. The better I get at adhering to what price tells me, the more money I make.

    Funny how that works :)
    #19     Mar 16, 2011
  10. Let me challenge this statement as a point of logic.

    What trade can you have which has "no directional bias"? Even if all of your trades are spreads, you betting on the spread to narrow.. that is, one side is "out of whack" in terms of value and you're playing it to correct to proper value.

    I say there is ALWAYS a bias in a trade.... even if it's just a short-term one. Stated differently... if I "go long at support", my bias is for a bounce. If I "go short at resistance", my bias is for a dip. If I "chase a breakout", my bias is for that move to continue for a while, at least.
    #20     Mar 16, 2011