Remaining Emotionless While Trading?

What's funnier than a coolweb's post?
Yours for taking him serious.

Thanks for the laughs

 

Be careful out there.

 

I think the outbursts are obviously a reaction to the fear that you are feeling.

I don't know how far you are along in your trading career, Mizer, but before I was able to trade successfully, I needed to put myself in a position where I didn't need the income from trading for several months. If you are coming up short on the rent, then that's the source of the screaming: fear.

If you are screaming because you don't possess the knowledge to understand why a trade is not going in your favor, then perhaps step back and look at your entry points and try to optimize them.

The latter is what was most helpful for me. As a trader, I'm VERY limited in the types of situations in which I get involved, but when I do enter a trade (usually between 3 and 5 per day), I look to chop more than the average.

In short: Optimize your strategy and lower your cost basis in your own life to the extent that any gains pulled from the market will be gifts - at least for a few months.

 

How to stay emotionless? How to choose an entry/exit/stop?What timeframe? Percentage risk? Which market? What type of computer? What size screen?

Why do we trade?

Emotion and money?

Being emotionless about money is probably (for a human) impossible.

A successful trader makes money, and makes it look easy, no?

In that case money should buy the best traders.

Any traders on here working for a firm and asking stupid questions need sacking. But that's just my opinion.

 

Mizer, what do you think?

 

seykota says in the trading tribe. Your real trading system is the emotions you fail to acknowledge. But he also recommends not daytrading, so figure it out.

 

When I'm having a bad day on the market, and it feels like the market specialist is just there to trigger my stop, I just remember -- it takes 42 muscles to frown, but only 4 to pull the trigger of a decent sniper rifle.

 

I don't think humans can really trade without emotion. Just learning to manage the emotions would be our best hope.

 

cheney would like you to come along on his next hunting trip.

 

I have been there when I first started at Worldco! I found if I listen to music or whistle is gets my mind off of the emotions. You need to except that the market does what it does and give up trying to feel in control. If the market gives you money Great! If not it’s the price of during business! Look at it as paying commissions or taxes. It’s just part of the game you can’t control. In my opinion you are bursting out because you feel out of control or just trading for the money.

Although I am just getting back into trading from real estate investing (my family business). I am excellent at making money in the market and have a very good understanding of order flow. But I still get nervous once in a while, even when I am having a good day. I short change myself. My solution at this point to make more money is automated trading. I don’t need to look and honestly I have found out, I don’t like trading! I enjoy creating the system, studying the market, and the money!

Elitetrader has a excellent training section written by Trade Station. Yes it is a sales pitch, but worth every word, and its free. I actually own the video that this is taken from and I should have listened to it back in 97. Check it out!