Okay.. I have my System Complete

Discussion in 'Psychology' started by Flashboy, May 13, 2004.

  1. but I am having trouble executing every set up.. I keep second guessing the system..

    Is it just a matter of becoming more confident in the system and training yourself to take the signals ..

    I would be having a terrific week had I followed every signal..
  2. Ditch


    It is a matter of having a fatter account.
  3. its a matter that the money means too much to you. you just have to convince you that the money has no value and this is just a game and then play the game the best you can. play to win but don't think about the money.
  4. First, you need to have enough capital to withstand a drawdown.
    Each system of course has a relative drawdown size.

    Second, I too saw a lot of trades pass me by when I had my system/method tweaked and ready to go. This was overcome by confidence in the system. Do whatever you have to do to gain confidence in the system. Perhaps a simulator, or trade as small as possible, etc.

    Or, get mad enough about missing trades that it motivates you to do or die. :D

    Take it easy.
  5. Quah


    Then you don't really have your system complete - a system isn't a system if you can't or won't trade it.

    You need to come up with a system that fits your psychologically. IMO, if you can't bring yourself to trade a system right from the start, you will never be able to trade it.
  6. Sufficiency and facility come into play at this point in you process.

    Both take time to get acquainted with.

    The second guessing is a comment on your part about what you require as "sufficient" to act.

    Form reading many many of your posts, I can assume you believe the precepts underlying your approach. That is settled for you. It will become even more effective for you in a month or so.

    Early families hunted and gathered. Tht remains with us. As a hunter, you can, at this point hunt and succeed. this will give you breathing space in dealing with "sufficiency" and locking in your beliefs.

    By taking trades and completing the few that you do with spaces in between, you get to debrief on your successes.

    Facility can best come from the "filling in" process. The settling of emotions after any "hunt" changes over time. Familiarity leads to facility. Getting to be in the groove is not an easy process simply because the market continues streadily as you exist in the heritge of hunting which is a spurt type thing. Hunting is a survivor tactic based upon sudden opportunity. Space your hunting until you can do more hunts per day.

    There are no surprises in the market at some point. This is because a person has gained "facility". At this point your heritage of being a gatherer like gleaning seeds or picking berries can come into play. Strange though it be, gathering cannot just be done by arriving at a wild rice site or a glen of berries on the banks and then "gathering". To do it well you have to have a continuous repetitive process of collecting grain or rice. Otherwise you step on stuff, get scratched, spill stuff or dump the canoe at the wrong time...

    Know what is sufficient to act. Do it and debrief afterwards. Notice when you are prepared to hunt again. Shorten times for cycles of action.

    With beliefs no longer provisional in any way, focus on debriefing on the facility you are gaining. Note how your experience leavens participating in RTH.

    The other facet, of course, is your advancing level of capital. Wait to apply this surplus until you have a stable W/L ratio and R/R ratio. this signifies facility. After that, scale in at low risk, and exit en masse. by this time, a ten fold increase in participation can be done as a single transitional scenario.
  7. pierson


    you are the most important indicator that your system uses.

  8. I would have to disagree with that. You are the LEAST important indicator your system uses. Without YOU, your system would probably work better. That is why a lot of people like mechanical trading. It replaces YOU with a computer.
  9. You just have to go through some pain before you learn something, that's all. Keep in mind that the only way you can make money is to follow your current system, everything else is gambling and a loser's game.
  10. Quah


    I think most people like mechanical trading because it removes all responsibility from the person - if they are net loser then it's the mechanical systems fault - not the person. If a self-defense mechanism.
    #10     May 13, 2004