Need to be happy to trade well

Discussion in 'Psychology' started by sheepsucker, Sep 2, 2009.

  1. I have been making a lot of impulsive trades, it has been for many months the biggest negative force on my PnL.

    I think I have discovered a reason and cure for this.
    I have had lots of expectations and been very impatient to make money after all the time and effort I have put into this. This makes me take lots of impulsive trades.

    I have to be perfectly happy the way things are. If no setup shows up today, doesnt matter I was happy yesterday and will be today.

    Easier said than done but I wanted to post this as I got a lot of valuable advice to my previous post.
  2. FB123


    Find a trading style that suits you. If you have a problem sitting there all day waiting for a trade setup, maybe you're trading the wrong style. Personally I am impatient as hell, and knowing this about myself, I never even tried to trade a system where I would have to sit there and wait for two hours to get into a trade. I developed a scalping system that even in a dead market, will allow me to get in and out for a profitable trade within a minute of sitting down at my computer. It took a long time to develop something that would work for me in all market conditions and then get good at it, but it's worthwhile. When you and your trading system are in harmony, things work well. If you're trying to force yourself to wait for setups but don't feel comfortable trading like that, maybe you should investigate systems that give you faster signals.
  3. If you've said " within ten minutes of sitting down at my computer " I would fully agree with you.
    However you've said " within a minute of sitting down at my computer " which is , at least, an overstatement ..
  4. FB123


    Ha ha... Ok, perhaps a slight exaggeration... but not by too much. It can be a few minutes generally, depending on market conditions. In a fast market, it will be a shorter time period, in a more choppy market I am much more picky so it takes longer until I am satisfied with a setup.
  5. You sound very stupid and contradictory, not to mention ignorant.

    You don't know how to trade, so stop your "copy and paste" advices on a public forum.
  6. maxpi


    I almost hate ET nowadays, it's the very last site I visit when I'm tired of surfing... it almost always makes me unhappy more than anything else, sort of like reading a Liberal Rag newspaper, all the details of all the misery and unhappiness....


  7. ditto
  8. Redneck


    Food for thought Sir

    That I am happy with myself is of little concern – because its times when I am most unhappy with myself, or the things about me – that I tend to push myself on to better things

    That I am at peace with myself is utmost important – then I can go through hell and high water never bating an eye – or sit still for days and be perfectly content

    Just a dumbass trader’s opinion Sir


  9. Thanks! yeah actually there is a difference between happy and at peace with oneself although both are positive feelings.
  10. plan


    Not sure about the happy part but you do have to not be sleep deprived and not emotionally charged....
    #10     Sep 3, 2009