One thing that's been killing me the most actually is not thinking long term with my trading but trading at night or in the early morning! The markets simply don't move damn enough so I think I'm going to have to just force myself into waiting until normal trading hours so I can trend spot better. The markets end up moving too slowly and I've already lost $16 this morning because I was stupid and impatient and I ended up making the same mistakes. I'm suddenly understanding why traders try to get out of life as much as they can lmao.
There is NO certainty with trading. Only probabilities. Convincing yourself that you need to "make sure" you get it back tomorrow is an extremely damaging behavior trait in trading..... Jason
Okay not only is it a bad idea to trade at night and in early morning it also seems to be bad to do it when your suffering from extreme lack of sleep and your judgement of trends goes completely awry. I think I'm going to trade in low quantities from now on for now.
dont listen to these imbeciles. constantly stopping out with small losses will break you just as fast as any other mindless strat.
Stopping out with small losses will only break you if you either have no edge, or you cut winners short.
I've learned the hard way on that already, beginning to be able to tell the bullshitters from the real traders over here now
Greed and Fear are byproducts of 2 things... 1/ not having a trading plan. Regardless of what type of strategy you are using you need to have an entry, exit and stop figured before you trade. 2/ if you have a plan(even a crap one) and still experience the GF's you are either under capitalized or over leveraged.
One thing I've been wondering folks is how do you deal with lulls in the market? I'm currently trading only GBP/USD for now but I'm thinking of going into other places because there just simply isn't enough volatility for me to take advantage of. When things get quiet do you just move to a different market or do you stick it out and wait? The day's just started over here but I don't really want to have to be cut out of profits because of that.