So, is it emotions that rule how you trade or whether you win or lose, does this relate to following thread in any way? http://www.elitetrader.com/vb/showthread.php?s=&threadid=125488&perpage=6&pagenumber=11
I think both emotions & the platform you are using matters, for if either are missing, you are bound to fail. I feel that both are important for success. Others also add capital as another important criteria for success. Let us see what others have to say to this?
Thanks JaiSreeram for the reply. Yes, I had read of capital being important. Also, if not have sufficient capital, to try out pooling. The threads below tell the point of capital: http://www.elitetrader.com/vb/showthread.php?s=&threadid=127983&highlight=pooling http://www.elitetrader.com/vb/showthread.php?s=&postid=1934390&highlight=pooling#post1934390 http://www.elitetrader.com/vb/showthread.php?s=&postid=1934388&highlight=pooling#post1934388 http://www.elitetrader.com/vb/showthread.php?s=&threadid=126198&highlight=capital http://www.elitetrader.com/vb/showthread.php?s=&threadid=127878&highlight=capital http://www.elitetrader.com/vb/showthread.php?s=&threadid=112333&highlight=capital http://www.elitetrader.com/vb/showthread.php?s=&threadid=124206&highlight=capital http://www.elitetrader.com/vb/showthread.php?s=&threadid=129634&highlight=capital http://www.elitetrader.com/vb/showthread.php?s=&threadid=108470&highlight=capital http://www.elitetrader.com/vb/showthread.php?s=&threadid=127818&highlight=capital http://www.elitetrader.com/vb/showthread.php?threadid=129117 http://www.elitetrader.com/vb/showthread.php?s=&threadid=127886&perpage=6&pagenumber=10
I had this problem, great paper trading, but an irrational fear the act of actually trading would somehow jinx the strategy. However, it had to be done and the first time I finally pulled the trigger, I automatically entered my stop based on max loss per trade and watched the trade turn against me and stop me out at a loss of $1200 rather quickly. I said to myself, "Well, that was a bust", got some coffee, came back and watched the chart until it pivoted off the next support level and traded again. This time I made $3800. 1. Choose the worst case scenario you're willing to accept on the trade 2. Pull the trigger and lock in the trade at the worst case scenario 3. Win/win situation results because you've emotionally accepted the possibility of a loss in advance and you know you'll live to trade another day.