A drink to take the edge off...
- Thread starter Cocaine
- Start date
For those of you who care, I tried the experiement today. I drank a glass of Reisling at lunch today (around 12:30-12:45). I was watching ANF around 1:00 and noticed, by the way it was trading that there seemed to be more buying pressure than selling pressure. The RLX (retail index) had earlier made a nice run up and seemed to be basing in anticipation of another leg up. I thought that this was the perfect time to see if I could increase my size. I definitely felt ever so slightly the effect of the wine by this point. I normally would build a 1000-1500 share position in this case but decided to double it. So I built a 3000 share position w/ an avg price of like 78.32 (got most off at .30). Anyways, as the trade was playing out, I felt some anxiety build up but not nearly as much as I usually have (not sure if this had to do w/ the alcohol or the idea that I had alcohol in me). Either way, I held this trade and got out of most of it between .65-.90. So instead of only making $450 or so on the trade like I normally would, I made a little over $1250 in total. This made me excited b/c I knew the setup was good and I actually took much more advantage that normal. Dont know if it was the alcohol per say, but it certainly didnt hurt. My reactions and speed were perfectly normal.
I was of the opinion once that I was better at everything w/ a little alcohol, but you start to realize all it does is take away inhibitions...which for some us does improve things.
I could see how if your like this, it would seem like a good idea to have a shot....no more seeing a good trade come and go...you have less inhibitions so you just pull the trigger.
My solution, and if I get to this point, will be a better one is to, in the words of a guy I know, "just put on good trades". Don't overthink things, when you see the trade, just do it. Work on worrying less about the individual trade, so your not overthinking it, just see stuff and trade it.
I imagine a really great trader would get to an almost, dare I say it, Zen like state...taking great setups w/ the understanding that no setup is perfect all the time. Numbing some consciousness w/ alcohol is def. not as good a route as just making the trade and accepting the conscequences.
I could see how if your like this, it would seem like a good idea to have a shot....no more seeing a good trade come and go...you have less inhibitions so you just pull the trigger.
My solution, and if I get to this point, will be a better one is to, in the words of a guy I know, "just put on good trades". Don't overthink things, when you see the trade, just do it. Work on worrying less about the individual trade, so your not overthinking it, just see stuff and trade it.
I imagine a really great trader would get to an almost, dare I say it, Zen like state...taking great setups w/ the understanding that no setup is perfect all the time. Numbing some consciousness w/ alcohol is def. not as good a route as just making the trade and accepting the conscequences.
I was wondering when someone was going to mention this.
I have made some of my best trades under the influence of Alcohol. - care free adding to winners etc - which is such a mental exercise sober. I have also worked Instituionally where we could not do Size in the afternoon because the majority of traders were known to be drunk. - old school UK - for me thoug now I am Prop I do have a few beers into the close - just to take the edge off it - as u say. - works a treat .
I have made some of my best trades under the influence of Alcohol. - care free adding to winners etc - which is such a mental exercise sober. I have also worked Instituionally where we could not do Size in the afternoon because the majority of traders were known to be drunk. - old school UK - for me thoug now I am Prop I do have a few beers into the close - just to take the edge off it - as u say. - works a treat .