Once Up for Day - I go into Protection Mode

I'm trading equities (500-2000 shares per trade) and very occasionally options. Look forward to giving ES a go sometime later this year.

 

I trade the ER, ES & EC.

I watch Steve Gomez's videos on youtube though and it seems stock trading is a little easier. well not easier, but can seem to be less risky. moves aren't as quick.

Am I wrong in thinking this?

 

Stocks can be volatile too. Sometimes the volatility is great if you catch the right move. The real down side to stock trading is that stocks can gap if you hold overnight.

 

Howdy all

Hope everyone had / is having – a great day


NoDoji,

Well Ma’am I got it now – and I do apologize for the sir thing….

BTW – I read through you journal last night – My compliments Ma’am

And Thank You for the very kind words




Confidence

Well before I go there let me share a little about my beliefs, AND by the way – what I’m about to write works for me, and I humbly share it,

HOWEVER

I in no way want to say or imply this is what one should, or must, do… all I am saying is – Hey – here’s one way of looking at it and if it helps shed some light – Perfect




Trading to me is 5-7% physical skills, and the rest mental

Physical skills – my platform has a Symbol, Shares, Buy, Sell, Short, Order Type, and Route buttons (that’s all I really need to press to trade)… add into the mix setting up a few charts and lines – and that’s the physical aspect of trading – for me


Mental – This is a biggie… but to narrow it down a little (and not bore y'all) my biggest hurtle was me learning to get out of my own way


And by getting out of my way – I’m now to a point where trading (again to me) is nothing more than responding appropriately to what I am seeing, while fully accepting anything can happen…





Accordingly - Confidence – “to me” – is trusting myself completely

Trusting I see what is happening
Trusting I will act appropriately upon what I am seeing
Trusting I will act appropriately when the “anything can happen” – happens

And through this trust I have confidence

Okay enough on my stuff



So what now

Again – before going there please allow me to preface this by saying;

I am not naïve, stupid, or egotistical enough to think I can tell anyone what they need to do, or how to do it… I can only offer my perspective – if it helps great, if it doesn’t …..



To grasp the mental side of trading - I first had to learn – how I learn stuff


Basically I believe there are five ways (the senses) people learn

Hearing something
Seeing Something
Tasting something
Smelling Something
Touching / Doing something

I would offer – figure out how you learn…, then learn to trust yourself… And I mean really, really, really, really Trust yourself completely


The by product will be confidence


I would also say that sometimes – it helps just knowing others have been there and gone through it as well – I have and it’s hard


The other thing I found – when progressing to the next level – I absolutely must take baby steps else I will implode and have to start all over


This is ALL just food for thought



Aside – NoDoji – I learn by doing / seeing – which is why I recommended the demo account thing to that guy last night, but in order for it to mean anything – to me – I have to take is seriously, just as if I were trading (or a pitcher warming up)

Your suggestion regarding Trading Rules was a good one



Take Care
Redneck

 

Flashboy


But this can be a good thing because maybe you pick a less volatile one to start out on - then work your way up Sir

Just another thought

Redneck

 

Red, thank you for the compliment. I wish with all my heart that I'd traded a demo account the first 9 months, through up markets, down markets, and market crashes. I used the real money the whole time, and although I got months of screen time (absolutely critical to success), I also endured many losses in the learning process.

 

Flashboy

How did things go today Sir?


Take Care