Trading Psychosis

Discussion in 'Psychology' started by masterm1ne, Oct 25, 2016.

  1. I am an extremely talented trader. Every day that passes, I usually have a position on that would make anywhere from $500-1k on the measly 1 lot I'm trading. I have 7 years of trading experience, and a couple years full time in terms of hours spent. I have had "success" day trading...

    However, I have severe trading psychosis that started around 10 months ago with a couple heavy losing days. Back then, I was very ignorant and was a much more rigid trader. I can look back know and see something very obvious I needed to do, and these days it almost seems too easy for me to find great trades.

    Code:
    
    psy·cho·sis
    [sīˈkōsəs]
    NOUN
    
    [*]a severe mental disorder in which thought and emotions are so impaired that contact is lost with external reality.
    
    

    I have tried everything; meditation, studying charts, CBT, talking with others, on top of the tons of practice. But I think I have some deep rooted psychological issues that probably go back to me having to work hard for everything as a child, or my parents being very strict on spending or allowance, or things of that nature. It in part has to do with the fear of losing obviously. I'm extremely afraid of losing what I have, even though I know there is a paradox, you have to lose sometimes to win, and you need to give yourself room (drawdown a lil) or you'll cancel all the good trades you take (me). I also want this very bad for myself, as I have been mentally tortured for the last 7 years of my life and need to prove to myself that I am successful, and that I am more "successful" than everyone who told me I was a failure in the past, on top of never working for someone that can tell me I'm in some way inadequate.

    I could post at least 10 charts that look like this one in the last 4 weeks. I totaled up the trades last week that I took. If I had held them like an hour or so I would have made anywhere from 3-4k on the 1 lots I had.

    Despite knowing what is right, I am unable to do it right now. What is stopping me?
     
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    Last edited: Oct 25, 2016
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  2. achilles28

    achilles28

    Yourself. Fuck the psychology.

    It's all on YOU. Only YOU can pull the trigger and take a trade

    Break capital up into smaller pieces. Risk .3 - .5% of account per trade. A few losses will have a negligible impact on account value.

    Ur experience is similar and a logical reaction to losing money. When traders lose real money on a decent sized account it screws with their head. It's real money lost. HAppens to everyone. Think about it. Why would any sane rational person gamble hard earned money away ? Ur brain is afraid for a very rational reason. Size way down until ur consistent then size up
     
  3. First his mega loss(ES????) are not just a hazard. Before he went to do whatever that created his mega loss(ES???), he knew pretty well what he should have done, and should not do. And still he did it. Psychology.
    Second, obviously his trading has revealed to him that his unconscious mind is able to take over in certain conditions. Here, he is thus getting a chance to know he has something to clear up at the subconscious levelµ. Psychology
    Third, when a problem comes up, it is better to sort it at the core level, as Psychology will just show up in other situations sooner or later.
    He could very well compound his account for many years, then find other ways to blow up his money. Psychology.
     
  4. tlatoani

    tlatoani

    This is sad--delusions of grandeur mixed with self loathing. ---- Call 1-800 Gambler now---- I weep for your children.
     
    thaitye and comagnum like this.
  5. lovethetrade

    lovethetrade Guest

    The easy solution to all of this - automation.
     
    Last edited by a moderator: Oct 25, 2016
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  6. I am in no way a psy specialist. This is just one person opinion, in a forum.

    First, you are VERY lucky to have been able to list at least 5 things regarding what can have contributed to your problem. My question is : have you sorted these things out ? if not: why have you not dealt with all these issues once for all?
    Now, if you say you have sorted these issues once for all, how comes you are still dwelling on these?

    Mental torture for 7 years you are saying ???? Can you explain more what it was all about and the
    FREQUENCY of it : every day? how many times a day? any days where this mental torture did not happen?
     
  7. Turveyd

    Turveyd

    Confidence gone, rather than holding for the momo to run out, your taking 3pts just to be sure while risking 10+ I guess ??

    Drop the lot size if you can to Min treat it as a demo retreat but not quite and just force yourself to hold, doing that currently.
     
    victorycountry likes this.
  8. To have the confidence gone on few losing days : how big were your losing days?
     
  9. I lost 5k and 6k roughly a week apart in Dec 2015. It was clear looking back what I did wrong. I was trading 5-10 lots on RLM back then.

    No, I don't trade ES. No thank you. I'll stick to Russell or the Midcap SP, they have much better intraday volatility.

    Why are you guys talking about sizing down. I said I am only trading 1 contract. You can see that from the chart I posted. You can make a few thousand a week with 1 contract. A full loss on 1 contract is less than .01% of my liquid cash.

    Yes it is as if I don't have any confidence, though for no reason. I know when to get in clearly. I am always getting out too soon for fear of losing or uncertainty.

    The mental torture I referred too is a long story... but essentially I was treated very badly by my superiors, discriminated against, not promoted, and fired from my job, even though I did the best I could.
     
  10. so your losses were a bit less than one month of trading profits.
    Do you really think the losses are the trigger/cause of your lack of confidence?
     
    #10     Oct 25, 2016