Discussion in 'Psychology' started by Burtakus, May 14, 2004.

  1. This is more of a venting session for me than anything else. On the side I ope that others can learn form it.

    This week was a rough week (-5.5%) but still within my loss limits that I have set.

    Now why did I lose so much this week? Because I sabotaged myself. After having a couple of non-trading events turn out unexpectadly for the worse early in the week I knew that I should not trade and even planned not to trade. So what did I do. Traded bigger than I normaly do and to boot I jacked with my system that had been working fairly well.

    Why did I do this? I wanted revenge in a way and because I have had a really nice run since the beginning of the year and started to think trading was easy. Even while I was in a trade I knew that I should not be trading and kept saying to myself that I should not be trading. But I kept on doing it. Total self destructive behavior.

    This is the first time this has happened in a while. It happened when I was first started and thought that I had learned my lesson except at the time I did not think that trading was easy.

    Moral of the story: Never get complacent and think it is easy unless you want to repeat past mistakes.
  2. Burtakus,

    Excellent post, thank you for sharing what some are afraid (myself included at times) to admit in our trading. I personally leaned from your lesson *AND* willingness to share it..a rare commodity here on ET lately.

    I commend you for your courage and honesty.

    rttrader1 -
  3. i did not have a good day today