Advice

[SimpleMeLike]

Quite often the solution is in the problem, and in this case, it's your discipline. The story around about your exceptional IQ does not matter. After many years in this business, I would tell you this: I would let an ex-marine handle my money before a quant. Just letting you know how much, in my opinion, the mental game matters.

I would focus on books, lectures, webinars, or seminars that discuss discipline and habits (even if not focused on trading specifically).

Each person has it's own approach to discipline and how they want to solve it. In trading, it's hard for humans to do nothing, and so they become "creative" in trying to max out profits. Quite often, this leads them in the wrong direction.

Please do not feel that you are the only one who is lacking in this department. Every successful trader had to combat at some point issues of discipline. I hope this helps and I wish you success in trading.

Morning MattZ,

You are spot on. I would add that a trader should practice discipline as well.

 

[mistermaster]

Okay, I think to know where you are. You are trading not for the results in money but for some unresolved issue you have with yourself and how you see yourself. You need someone that can let you see how you react and make you self aware when this proces start in your trading. When you recognised it, you can take several action to avoid it. This is not a discipline issue.

Hmm. OK. I appreciate the feedback. I do. But that's quite a leap without knowing anything about me other than my penchant for undisciplined entries.

 

[mistermaster]

damn right every problem comes with a solution

but the solution is not liked

It's well liked. It's just that unfortunately I am not properly implementing it.

 

[mistermaster]

See we have the exact same issue, sadly not a genius 4 IQ points short here good enough.

That 1 trade, you get a bias, it goes the wrong way, you keep moving the SL and before you realise it you've been margin called.

Just got to push yourself, to do the right thing, which is Exit and Flip and give up on HOPE, I'm not there yet mind, getting there, final peice in my puzzle I hope.

Well, I'm not four points short, I'm actually at least twenty points over. But as @MattZ correctly pointed out, it's totally irrelevant.
And the entry is not a bias. It's a situation where my parameters are not functional like prenews, etc.

 

[padutrader]

I am not properly implementing it.

why?
you see studies have shown that people would rather go for the unlikely event which gives huge reward then go for the likely event which gives a small reward.
that is because we all want to get rich......i have been there so i know it.
for you to get rich a lot of people have to get poor.that is unlikely.

 

[Turveyd]

Well, I'm not four points short, I'm actually at least twenty points over. But as @MattZ correctly pointed out, it's totally irrelevant.
And the entry is not a bias. It's a situation where my parameters are not functional like prenews, etc.

Too high, no social skills, no common sense very high probability of being a psychopath.

 

[danielc1]

Hmm. OK. I appreciate the feedback. I do. But that's quite a leap without knowing anything about me other than my penchant for undisciplined entries.

I know... But only you know if it is wrong or not. Just trying to let you see it in a different light what is happening to you. Does not mean I'm right about this.

 

[murray t turtle]

Hello All
Need some advice. Please. No BS.
I have thank Goodness an extraordinary system. The problem is ........ discipline.
I know all the psychology about humility and admitting when you're wrong, etc. and have no issue with that. It's just I'm sure it will turn around and truth be told it 90% of the time does. But usually only after f$%&^%g my account balance.
So any advice would be appreciated.
TIA.

p.s. I trade scalp/short term. Generally under 10 minutes per entry.

%%
Well lets assume you value the truth ?? OK There is a fatal flaw in your trading; if you're short it can bullmarket uptrend for many years . Or if long bear markets can + have lasted for 3 years. SO even short term is not 90% turnAround @ all.Sounds exactly like you, are like most of US-prefer to be right > wrong. [Every mister has a male ego; that has to get out of the way]

Even if youre out @ end of day/short term= that does not really change my points, because any longer term can be measured in enough ticks- i use longer myself.....................................

 

[CharlesS]

Whatever the constellation of causes, there's something easily overlooked but always essential:

=> Get Enough Sleep

esp difficult if you're spending late nights poring over charts and generating ideas

 

[mistermaster]

why?
you see studies have shown that people would rather go for the unlikely event which gives huge reward then go for the likely event which gives a small reward.
that is because we all want to get rich......i have been there so i know it.
for you to get rich a lot of people have to get poor.that is unlikely.

Not true. Because that is your experience, that does not mean it is mine. That is a limited view and what prevents you from succeeding. And for me to get rich does not require a lot of people to get porr, but even if does, again demonstrating a limited world view and a limited understanding of the world by trying to correlate circumstances with certainty.