Suggestions for Keeping Calm and Relaxed

Discussion in 'Psychology' started by lokkeilaw, Jan 18, 2006.

  1. Koool and good luck trading :)
     
    #11     Jan 18, 2006
  2. BSAM

    BSAM

    Have a plan. Know your plan. Stick to it.
     
    #12     Jan 18, 2006
  3. I will just speak for myself

    I remember trading without a test strategy. I remember selling 200 strangles, bracketing the market, but not having a well thought out stop loss point. I remember kneeling on the floor, watching the ticks, on expiration day, hoping that I would not get hit. Terrible feeling.

    Now in contrast, I have backtested every strategy that I trade, and I know what to expect from the moment the market opens to close of day. I still feel a bit of excitement when I put on size, but basically its a job now, and I am no longer affected the same way. I wait for signals, put on positions or take them off, and do my homework at the end of the day. The rest is bookkeeping. I can watch the screen or automate my stops and walk away. Once I was truly prepared to trade, it became a different life.

    I think you have to make a couple of decisions.

    "How do I want to feel about my work?"

    "Am I willing to do the work necessary to be properly prepared to trade?"

    If you can resolve these issues, and follow through with the homework, you will find you are in control. If you follow that discipline you will eventually find that this is a job just like any other. This is the basic difference between professionals and retail traders.

    Good luck
    Steve
     
    #13     Jan 18, 2006
  4. BSAM

    BSAM

    Hmmmmm.....Would this be another way of saying:

    Have a plan. Know the plan. Stick to it. ;-)
     
    #14     Jan 18, 2006
  5. I hate HDI, I always get burned. :D
     
    #15     Jan 18, 2006
  6. johncool

    johncool

    1) Play your favourite song.
    2) Sing to it.

    Let me know if it works for you.
     
    #17     Jan 19, 2006
  7. ozzy

    ozzy

    Try the sticky icky. That should calm you down.

    Damn, just saw the Jessica Alba pic. I have to go now.

    ozzy <== will never need viagra.
     
    #18     Jan 19, 2006
  8. Smoke a good cigar. It will calm you down and help you to focus.

     
    #19     Jan 19, 2006
  9. What works for me is listening to relaxing music such as classical music or smooth jazz.
    What definitely does NOT work for me is watching CNBC or listening to other Financial Radios. During day-trading I also avoid any chat-room. All those things do not contribute to providing the right trading environment, as I lose my focus and can be distracted/distorted.
     
    #20     Jan 19, 2006