NumberZ Day Trading Journal

I think it a personal problem, right? You are not me. We are all different. Fear seems common here on ET but not common on twitter where others trade.

What is different in SIM and Live money is this for me: I think it would be hard to have a profit of 15 points and not take the profit. Right now. This minute. In SIM I am fine if all profit goes back to $0.

But if I needed this to live. To feed my family. I'd not want $750 to go back to $0.

Is that fear? Not sure. I will have to see what I feel when I trade live.

This is still SIM.

 

As far as the psychology of trading live vs SIM, risk is trading and trading is risk. If you can't learn to deal with risk then find something else to do. "Courage is being afraid but saddling up anyway." - John Wayne

Fear may never disappear entirely but it will dissipate over time given a viable trade plan and adhesion to taking the signals and observing the rules of the trade.

 

This specific one is common problem I think.
You can google "cognitive bias and trading"

 

@NumberZ Did you stop your journal?

 

Paused the journal. I received numerous encouraging messages from ET members in private. And a common suggestion was for me to finish the course first. Then journal. I gave it some thought and I agreed.

I have watched almost all of the course.

Then I will review the course.

Then I will journal.

Thank you for reading my journal!

 

Getting the hang of this I feel. Still SIM.

 

IMHO, it is time for you to go live, RIGHT NOW. Kick off the training wheels, and learn what cannot be unlearned.

 

What is it that can't be unlearned?

 

OK remember the 1960’s?…..I think ON aka Fedex may be in part referring to “the thrill of victory and the agony of defeat” …the concept unleashed upon the world by Jim McKay. You remember the World Wide Of Sports ….the slope ….the speed… the careening off into the air…..the crash. It is indelibly stamped upon one’s memory and cannot be extracted. Although mindfulness can help…mindfulness…the latest concept that is sailing around in the psychological world of behavior and producing champions…well at least some of the time….Focus on the task at hand…focus…on execution….focus on the process…don’t look at the scoreboard….don’t read the news…don’t listen to the naysayers…ah mindfulness….the task…the process…the ever striving towards execution with unadulterated precision. Focus… focus …concentration…singleness of mind…mental elevation soaring to heights unheard of.

Transcending “the agony of defeat.”