are emotions/psychology the most important factor in success?

[SimpleMeLike]

Ok I thought you were someone else.

Hello TradeBlazer,

I am the ES and NQ Money Making Master.

 

[wxytrader]

Oh. A while back you said you had no open positions.

I have some positions that are never sell, and then I rotate some income strategies. I typically wait in the weeds and then go all in.

Also, I did take a 2 year hiatus from trading stocks back in 2017-2019.

 

[deaddog]

I have some positions that are never sell, and then I rotate some income strategies. I typically wait in the weeds and strike with an "all in" leap.

Also, I did take a 2 year hiatus from trading stocks back in 2017-2019.

Gotta keep your story straight in order to be credible.

 

[ivyluk]

I totally agree with your viewpoint! A solid trading system sets the foundation, followed by smart risk management. And yeah, emotions can trip us up, but with discipline and a good system, we can keep them in check and stay in the game.

 

[ironchef]

your pnl good or bad never had an effect on you? Especially as you were vying for bonus dollars?

He is a pro, some pros are not as emotional trading OPM. It is just a job.

Us retails trading our own hard earn money are always emotional with PNL.

 

[ironchef]

I doubt emotions have much to do with trading results unless you're gambling. If you have a strong emotional reaction to a series of wins or losses you're probably trading with too much risk. Boredom is the dominant emotion traders have while waiting for the probabilities to be realized in a series of trades.

For me, even when the risk is capped, I do get excited when the trade has gone my way.

And I am not talking about trading for a Lambo, just for a free Big Mac everyday.

Maybe I shouldn't day trade.

 

[newwurldmn]

He is a pro, some pros are not as emotional trading OPM. It is just a job.

Us retails trading our own hard earn money are always emotional with PNL.

I was a pro and I wore my pnl on my sleeve. Most of the discretionary traders did too.

 

[oshjdf]

The most important for me is no subjectivity/discretionary in the trading system itself. Every element is clearly defined like "if x + y + z, then execute" and measurable. Thing like "enter the market when there is big/rejection candle" is not clear. How big the candle? How long is the wick to be considered as rejection?

The next thing is position sizing suitable for the trading system; max % per trade that has 0% probability for risk of ruin.

Then, enough capital.

Most people do not have any of these 3. Psychology only become a factor after all these 3 fulfilled. Before all of these fulfilled, you may feel your emotion is playing. But, the root cause is probably unclear rules and too big size. You become a robot after you fulfill all these 3. Trading is really boring.

 

[Laissez Faire]

Psychology can make or break a system. However, without a system, you're putting the cart in front of the horse.

Leverage and how it impacts you is also a factor. Some people seem to be shitting themselves trading 1 micro with a large account while others can trade size on a smaller account and still keep their calm.

 

[SimpleMeLike]

Psychology can make or break a system. However, without a system, you're putting the cart in front of the horse.

Leverage and how it impacts you is also a factor. Some people seem to be shitting themselves trading 1 micro with a large account while others can trade size on a smaller account and still keep their calm.

Hello Laissez Faire,

Another thing, no-one knows what a "trading system" is?

What exactly is a trading system and how can a trader trust a trading system to make +$1 Million dollars in less than 5 years to make trading even worth it.

All this emotions and psychology is completely and utterly bullshit. There is nothing wrong with our emotions and psychology.

The only problem traders have is they do not have a believable plan to make $1 million dollars in less than 5 years. This is just my opinion.