Like trying to pick a top/or short a strongly trending up market...instead of entering on a pullback to support/or Fib. retrac. which then kicks off another up leg? Is this self-sabotage? A rebellious,contrarian side? What is wrong with my perception/filters that would induce me to be looking for reasons to short instead of the common sense approach to be looking for a long entry point? What is it gonna take to get this thru my DA,thick skull? Thx.
When you realize that your independent thought wants to MAKE the call, rather than letting the market MAKE the call... You are a contrarian and want to be right over the market...just cooperate instead... Try measuring the trends ..start to finish in the three time frames...when you reach the next cycle simply get in at 30% of the way into the move (30% of the last distance in the previous cycle)...Important that all three time frames show the trend. forget the pullbacks and the fib's, keep it simple & loose...and you can get in.... Michael B.
Thx.. I have had success being a contrarian in stocks and options at times...maybe I need to learn to mentally separate the two approaches.(It is my e-mini trading where I "fight" the market.).
Do you have a trading system. If you do: Your trading system should have a trading plan. The trading plan should have a set of entry rules and exit rules. The entry rules should have the entry setup and requirements to initiate a trade. The exit rules should have the setup and requirements to get out of a trade. You must have the discipline to follow the entry rules and execute. Of course the keyword is DISCIPLINE, without discipline you still got nothing.
"Why do I do what I know I shouldn't be" experience...just takes time and perserverence. eventually you loose your bad habits.
because you are rewarding yourself when you out-think your sys..instead of following it. Your bored and need to fight the gambling mentality... Wouldn't you rather have a consistent lower yield, than a few good months sprinkled with losing months? Be the executor that you can be and do your job! Your not paid to think!
Because buying into a trend after it's shown itself often necessitates an intermediate open loss. If you're a daytrader and need to make money everyday (or are overleveraged), then you often aren't able to do what you know you should do.
dont be too hard on yourself and dont over analyze it. its really pretty normal. i think its safe to say we all, or damn near everyone of us goes through it. its important you realize what your doing wrong and the correct action as far as your concerned. sometimes just realizing it is enough....the changes will come eventually...some sooner...some later...
Look, I will let you guys beat him over the head..I do not want to be the one to do it... There is no excuse for this behavior..manage your fricken emotions and be professional.. fight to win and manage that....losing is a familiar theme and you know those emotions all too well... If you have an edge, then you have a responsibility to use it, anything short of that is merely psychological problems.