Account profits. Affect my Trading

[spersky]

This is my third time trading. I went belly up the previous 2 times with small 10k accounts (money I could lose without any change in my lifestyle.)

I have really re-defined my trading rules and am doing a ton better in my 3rd venture into trading. Currently, I am up 150% on my starting 10k account.

Recently, I pulled the plug and withdrew everything except my starting 10k. I was starting to trade like a manic, bending the rules because I have so much "Free" money to risk.

I am now very pleased that I did that. Hopefully, I will not do that again, if I am lucky enough to build my 10k back up again.

Has anyone else experienced this? Will it help? I am so pissed I did not follow my rules, and it cost me some money. It was a small amount but the principle really bothered me so I decided to reset.

Comments welcome.

Btw, I am reading Trading in the Zone. That is very helpful. I highly recommend it.

Regards.

P.S. It is amazing that almost any simple system will work. It is the mental aspect that causes people to self destruct. I keep working on that every day.

 

[MandelbrotSet]

Quote from spersky:

P.S. It is amazing that almost any simple system will work. It is the mental aspect that causes people to self destruct. I keep working on that every day.

You are 100% correct. Here's one solution I'm finding to the problem ...

 

[MandelbrotSet]

When things are going well and our trades are working we look (and feel) like geniuses.

But when the market(s) are choppy, twisty, topping and bottoming the frustration and the more correct understanding that we don't have any control over them is often what leads us to "unforced errors" in our trading.

By doing as much work on the mental game of trading as we do on technical aspects of it, we give ourselves a substantial edge in determing our ultimate success or failure.

Good trading.