Pushing It Further

Discussion in 'Psychology' started by trader88, May 7, 2003.



    I often gave back profits 6-7 years ago when I started trading full time. I can recall being up $1000 by 10:30 and thinking that I need to "work" (i.e. trade) the whole day. After all, I had always worked long hours in the corporate world so I think it was a sense of guilt if I quit early in the day. Finally the guy who ran the office told me to quit and go enjoy the day if I hit my profit objective. So that's what I did. As far as going to the next level, as you state, I wasn't focused on making more and more $$$. I wanted a balanced life where trading would support me and also allow me to spend time doing the things I enjoy doing outside of work.
    #11     May 7, 2003
  2. That's where I am. I have one bread and butter strategy that I trade. Now its a profitable strategy but I find that I'd like to experiment with other strategies.

    The new, experimental strategy may end up losing some of the money that I'm making, though. I'm wrestling with the idea of how to incorporate experimental trading in along with my tried and true methods. :confused:
    #12     May 8, 2003
  3. I had this same problem, but fixed it by realizing that trading after 11:00 is virtually usesless (for stocks). No wonder your'e gun shy, the chop, and lack of volume, limit opportunities, and thus an edge.

    Take your 500-800 and say thanks.

    If you want to go to the next level, try swing, or position trading.


    #13     May 8, 2003