Just sim trade until you have a few months of consistent profits. If you are not willing to spend that time trading "fake" money, it is a sure sign you are afraid of missing out, and are a gambler.
Stop trading because you are not even close to solving this problem. Do you think that one more week will make a difference when five years have not? Take a break. If you try to suppress or overcome your emotions or use your mind to control them, then they build up and eventually take over. You are giving them strength, you are making them matter. It's the Chinese finger trap. You need to disconnect your trading from your emotions/ego but you wont do that because that is the very reason why you are trading. You are trying to control your emotions so you can experience even more emotion.
Agreed. If you can manage a 50/50 win/loss ratio, and have great money management and discipline to always cut your losers before they get huge, then your losers will cancel out many of your winners, but there will be those periodic massive winners that can keep your account growing.
If you look at the history of any of the greats, PTJ, Soros, etc, they ALL have one or more huge lucky win that pushed them into the legend category--- took huge risk, made huge profits-- enough that they could hire edge-- this lone wolf nonsense you hear on elite about single mad scientist / chart reading master types cracking the market individually from their basements is a bunch of hogwash. surf
As another suggested sim trade a few days till u see if your setups are working. If not, research until you develop an edge or pay someone to mentor you. Remember there are going to be losing days no matter what, but you need to not revenge trade when you have a losing day turning it into a major loss. This is the hard part. Out of the last 2 weeks, my only losing day was on Thursday when I was caught in some chop. The rest of the days I either broke even or made money. One day that I BE would have been a winning day if I followed my rules. You need to be patient to wait for an edge based setup. There are at least 1 - 3 per day.
I'm starting to think all that's needed to be a successful trader is to have enough money mgmt and discipline to not blow your account and stay in the game long enough to hit those occasional grand slams. I traded pretty poorly this week - lost money Mon, Tue, Wed, Fri - yet still managed to make a decent profit this week due to one massive winning trade (long AAPL at the open on Thu).
Thanks everyone for the advice.. I've added more rules so hopefully, it'll work out next week.. Oracle - very impressive..