In trading , when putting on a trade , we exit a trade when it moves a few ticks against us , we are constrantly re-entering into trades when it catches our direction and getting out of trades , when it it again moves a few ticks against us. Some traders call it tickitis Tick-itis is a frustratingly painful dis-ease uniquely associated with short-term trading. And the interesting thing is that it even affects people who think they are immune to such things. Indeed, it’s a very insidious dis-ease. It’s a very easy problem to diagnose. You know you have this dis-ease when after a trade entry each and every tick that moves away from your target feels like a personal assault or attack, and each tick in the direction of your target feels like a bit of hope or relief. Tick-itis. This dis-ease is an epidemic among traders, especially newer traders and is also seen with traders trying to climb up out of a hole. https://www.google.co.uk/webhp?sour...espv=2&ie=UTF-8#q=the+need+to+be+right+quotes https://www.google.co.uk/search?q=t...=kfoeWMPxPIvRgAaq9IXwCQ#imgrc=KsifUUA0N5TDOM: https://www.google.co.uk/webhp?sour...ie=UTF-8#q=the need to be right psychology of http://www.audreymarlene-lifecoach.com/the-need-to-be-right.html The Need To Be Right - What Does It Mean? The "need to be right" pattern of behavior is an accurate way to get a barometer reading of one's perception of themself. You can size up someone very quickly when you see this kind of behavior. Having a Mr. Right attitude all the time means: You believe you are superior to others. You will miss out on opportunities to learn from other people's opinions. You have to be right to feel important. Your thinking is linear or one-dimensional. You must work on being more open-minded. You have a tendency to dominate a conversation, unable to converse properly, listen or have a normal back and forth dialog. You are only fixated on your opinion and cannot wait for the other person to finish speaking to counter their viewpoint. In some cases you may even interrupt the other person to interject what you need to say. You have to prove you are right as a way of putting others down or criticizing them. It gives you a feeling of winning, which empowers you. If you are wrong you feel flawed, inferior, or upset. Your identity is dependent on your need to feel that you are right.
Very important subject for screen based traders , when traders exit trades for no reason. https://www.psychologytoday.com/blog/anger-in-the-age-entitlement/201401/beware-being-right Much of the emotional suffering in the world comes from the substitution of power for value. The curse of our times is that so many people have developed the habit of seeking to feel temporarily more powerful when they feel devalued.
“Long trading books, when read, are usually overpraised, because the reader wishes to convince others and himself that he has not wasted his time.” It is an obvious example of a need to be right , after using useless books , he praised them to satisfy himself , that he had not wasted his time.
I think there is a thing that can happen where allot of a trader's identity and dreams can be caught up in trading and consequently (and all to easily) on every single tick. A negative tick is the market saying, "your dreams are going to die" or "you will fail". There can be reasons for the feeling that are not completely illogical. For example, if a trader is operating in terms of their life picture beyond their risk tolerance or reasonable ability (very easy to fool oneself on this), it is not surprising when every negative tick is a personal assault or threat. Years ago, I had the misfortune losing a small fortune trading in the few days after my mother died - an evil coincidence just after 9/11 - crunched on the floor, I thew up on myself and thought I could never stand up again. could hardly hold food down for months. Took time but I did stand. The markets can be brutal to anyone with a weakness (temporary or otherwise) that is uncovered - nothing wrong with taking a break. If one is not a born survivor, one must become one or find a different business - be very lucky, obscenely talented, or both.
Your need to be right .You can not sit and do nothing , it is wasting time , you have to do the right thing , it is not to waste time.There are a load of benefits , not sitting and doing nothing.
· You do not have to be right and do not delay entry; miss entry or mess up in trying to be right about correct entry. 5. issues 5.1 Are you hesitant to put on a trade due to this fear in your head about previous historical resistances? You have to be right and delay entry; · In trending markets current momentum and trend mas has priority over historical areas. 5.2 Your mind is full of misinformation about useless historical indicators? So you are good at using indicators and have useless knowledge about using indicators? · We don't use indicators in the way they were designed and do not use them for overbought/oversold. You have to be right 5.3 Which wins in trending markets? Historical market support for short trades? Historical resistance for long trades? Or current market trend and momentum? For amateurs, historical. You have to be right and delay entry; 5.4 Do we compare which trade to put on, if we have a choice of several currencies? · We take the first valid signal, the first one to fit system criteria. We can take up to two trades per currency. · Later we can put on a second pair, as soon as it fits criteria for entry. · If it fits system filters put it on without hesitation and delaying, at close of current bar on 15 min or 30 min. You have to be right and miss entry; 5.5 I am waiting for a better entry although I have a system fit entry. Amateur you miss trades waiting for better entries. · Are you a clueless amateur that wants to second guess a system, when entry is valid and ready to be executed? · Do not delay, enter late and miss trades because of amateur head. You have to be right and delay entry; 5.6 I have other amateur issues, highlighted in staff problems. · If yes, is the trade valid due to staff problems and head issues of staff? 5.7 Have you drawn trend lines and channels correctly, or is this just another half assed job? · Are trendlines drawn from wick to wick, as per our requirements? · A fucked up trend line image is shown in images , with a half assed trend line image (see worksheet biased missing trades) You have to be right 5.8 Have you done a thorough job? You regularly miss many of the following, and incur losses of my money.You have to be right · If no, stop wasting mine and everybody else's time.You have to be right · Are you impatient?You have to be right · Are you jumping into this trade?You have to be right · Are you waiting for your need to be right and delaying entry?You have to be right · Is this a revenge trade?You have to be right about making profit not loss , get it back · Are you exiting on emotions? · Are you exiting, not according to the system, but according to your emotional state? · Are you thinking rationally, after a loss? · Have you exited to satisfy your mood?You have to be right · Do you not have the patience to wait for a high probability trade?You have to be right · Are you going to remain a 50/50 trader all your life?You have to be right · Can you not think like a high probability trader? · Can you not pass on this trade? · Are you putting on this trade impatiently, so you do not miss trades?You have to be right · Do you not have the discipline to stick to system rules?You have to be right 5.9 Head problems of signal provider. Get the out of here. · Sometimes there is a problem in the fucking head. Are you seeing Madonna or gorillas on mars? Are you seeing trends/setups which do not exist as high probability? · Do you have any biases, like in the picture on biases worksheets that prevent you from putting on a system trade?