Best book to rewire me to follow my trading plan

[Newc2]

Hi,

I have a good trading plan. I've backtested the setup and it has positive expectancy if it trader with correct position size.

My problem is that i just cannot stick to my damn trading plan.

I have it printed out but still I deviate. I end up taking incorrect setups and trade too large.

Any tips or book recommendations that would help rewire my mind, would be greatly appreciated.

Thank You

ps I have read Trading in the Zone

 

[CBC]

Print out a copy of all the money you lost not trading your plan, just read that until you never sway from you're plan again.

Best of luck.

 

[kfir]

let a computer program do it for you

 

[Laissez Faire]

I bet your plan ain't that good. Probably highly subjective and open to interpretation as well.

That's your real problem.

 

[Newc2]

thanks for the ideas.
i lack discipline in all areas of my life and i read somewhere that this may be my problem with taking impulsive trades meaning i am wired this way.

i probably need to see a psychotherapist or hypnotist!

 

[motif]

thanks for the ideas.
i lack discipline in all areas of my life and i read somewhere that this may be my problem with taking impulsive trades meaning i am wired this way.

i probably need to see a psychotherapist or hypnotist!

This is why computer trading programs are so popular. You backtest, find an edge and let it work for you.

 

[Newc2]

This is why computer trading programs are so popular. You backtest, find an edge and let it work for you.

it's very hard to program my entries. Probably impossible!

Is this why the simplest strategies are the best in that they will be the easiest to execute?

 

[kfir]

it's very hard to program my entries. Probably impossible!

Is this why the simplest strategies are the best in that they will be the easiest to execute?

I think if a computer can't do your strategy it means your strategy involves emotion as well no?

 

[Hooti]

thanks for the ideas.
i lack discipline in all areas of my life and i read somewhere that this may be my problem with taking impulsive trades meaning i am wired this way.

i probably need to see a psychotherapist or hypnotist!

Looking back through your prior posts, you have received a lot of good advice.

There can be a variety of issues that go with impulsiveness, but a common one has to do with thinking about “the money”. If you can instead find some way to think about making or losing ‘ticks’. Go so far as to take the Profit and Loss off your screen. Many find that helpful.

To take this idea about money further: You might do so much back testing that you don’t even want profits that come by something other than what you back tested. You haven’t earned those kinds of profits (and those kinds of profits/losses mess with your psychology). Don’t think of “all the money” that goes by during the day as “your money to lose”. It is not. The only money that is there for you to lose (or win)... is the money that your back tested system aims for. All the other money belongs to other people – you don’t even want it. Because if you happen to win some randomly… that really messes you up. Stick to what you earn through your system.

There are other ways to think about this. If you are going to succeed, you have to find something that works for you. For many, trading is more about personal growth than systems.

The best of fortune to you.

 

[zdreg]

Looking back through your prior posts, you have received a lot of good advice.

that's a good habit. one learns a lot that way.