True or False

Discussion in 'Psychology' started by GetReal, Dec 6, 2005.

  1. The first thing I do in the morning is turn on my screens and see where everything is.

    The second thing I do is ask myself whether I am mentally sound today. That I will be able to accept the outcome of any situation and resolve it quickly according to plan.

    I have a strong intuition. The little voice in the back of my mind speaks to me and will say one of two things:

    1. "You have tremendous mental strength and discipline today and you will fight off the demons that scream impatience and anxiety."

    2. "You are mentally and physically drained of energy and your discipline will falter. You are not 100% today. Do something else."

    I listen as best I can but occasionally, I get in my own way and those are the days I lose. I'm getting better at understanding and listening to what my body is telling me. I admit that sometimes I just don't want to hear it (read: breaking rules). The problem exists that if you break any rule once, it becomes 10 times more difficult to not break that rule again, hence the "bad day". Simply put, ask yourself if you have 100% confidence in your ability to not do bad habits. Purely a behavioral choice that requires strong will power.
     
    #21     Dec 10, 2005
  2. i've tried trading after not getting enough sleep....
    and it's a waste of time and money...
    for me only, i need a normal nights rest......

    i make enough stupid trades on a normal day......
     
    #22     Dec 10, 2005
  3. Looking at trading from a longer-term perspective, you can have many 'bad' days in the course of a 4 month trade. However, the issue is separating trading from whatever is causing the 'bad' day.

    'Bad' days come with many causes, most of which are out of our control but some that we create.

    Learn to alter the 'bad' day into a 'good' day by having a psychological tool that can help you make that change. We all have something that we really like to do. Use whatever that is in your life as a tool.

    If I start a 'bad' day, I try to take a break and do something that I like!

    Happy Trading
     
    #23     Dec 11, 2005
  4. patch227

    patch227

    This is a very difficult issue IMHO. The problem I think is that obviously it is difficult to trade when you are sick, getting divorced etc etc.

    However, when you start listening to “intuition” especially after a bad previous day, your “intuition” may direct your thoughts thinking that the most responsible course of action is to not trade. However, how many of us have taken a day off after a bad day only to see them markets rock and the stocks we were stopped out of hit our targets and more.

    I think that the bottom line is that you have to be in it to win but stay away when you are sick. Otherwise just trade more carefully than you would normally.
     
    #24     Dec 13, 2005
  5. Cheese

    Cheese

    Agree.
    Always assuming you've first done all your study, work and training to know your market.
    :)
     
    #25     Dec 13, 2005
  6. patch227

    patch227

    Agree.
    Always assuming you've first done all your study, work and training to know your market.


    Nah, I am past that stage now. I just use my trusty dartboard and blindfold :) Why waste time analyzing the mkt when you could be out skiing
     
    #26     Dec 14, 2005