Yep, I know how to read bullish and bearish indicators and price actions and patterns. I can do all that. I'm just stuck in this psychological BLOCK for some reason! I'm doing things I KNOW I SHOULD NOT do! And the worst part is I keep doing them. Sound like crazy. But... I guess discipline is the key. I take trades taht I know I shouldn't. I need ironclad rules to follow by so that my mind don't play tricks on me! thanks for the suggestions!
K, What did I miss here? Why would you need to reverse your psychology if you had discipline? If you want to participate in a rally, ( profitably ) then don't short it, if you do short it, stop trading for the day. Thats one way to instill discipline. BTW. are you blonde? sulong
sulong, what i mean by reversing my psychology is to go LONG on rallies! Rather than just stop trading if I go short. Though that suggestion is GOOD, it will only cut losses. It will not help me increase gains. I want not only to stop shorting rallies, but also to reverse my thinkng and GO LONG NATURALLY! And let it ride baby!
sulong and GG, since trading is such a male dominated field, I know you guys like to know some stats. I'm a brunette. 5'8. Long hair and legs. The rest is for your imagination. Blondes are overrated.
Only natural blonds are over rated, a brunette dyed blond and vaaa voom.. extra points if shes italian, I'm a sucker for italians. You sound sexy. I'm curious what got you into trading? Meet guys, studied finance?
I think Hawker nailed the practical piece which requires strict rules and discipline. Now as to your psychology...... As some one who blew out my first trading account shorting in late 98, can I suggest looking at your psychology around authority and crowds. Problems with your father?, distrust government? rebel against norms?, assume the mob is usually wrong?..... I have no idea what drives you, but what you describe sounds like an ongoing rebellion against something. Usually a smart stance IMHO but can be deadly trading as you have learned. Whatever motivates it and should you continue to chose to indulge it, consider what someone said above about at least giving the mob its due respect and keeping very tight stops when you buck the trend.
The art of trading vs. the mindset of traders is a paradox. In a field that attracts fiercely independent free thinkers, the reluctancy to follow trends is truly problematic.