I wanted to share one of my experiences with you guys. I want to see if anyone else feels the same way. It might help others who are starting out to reach their objectives sooner and with less mistakes.
I felt that things changed for me once I went through a psychological change where my goals that i started with did not matter any more. It started as a thought and now I believe in it.
My goal when I traded was to make an "Income" or "get rich". I had few targets, daily, monthly, annual and what the hell a traget to retire. As i went thru some troubling years in the beginning. I begin to feel that my goals are irrelevant. They cause me to loose focus and perform under "ACCEPTED" pressure. I could not deal with loss easily - no matter how much I told myself that it is a part of the game. No matter how well my risk management was, or even execution. I never felt any confident. Then slowly I realized that these so called goals are obstacles that i have put up to limit myself. Trading is speculation and at its finest. I cannot set-up virtual Outcomes of an unpredictable market behaviour. Let alone how much I SHOULD be making.
I realized that I dont have to look for an Opportunity - but create one for me. I cannot move the markets so how can I create an Opportunity ??? this was the most wildest thought i ever had. I probably cannot put this concept in words easily in one post so - I will give this another shot in subsequent post.
Going forward - i slowly lost some respect towards Risk management techniques that I was using. the usual suspects, daily loss limit, risk and reward, risk per trade etc. I some how cannot focus on the risk anymore, all i see is return - positive or negative. All of a sudden my attitude changed towards loosing trades. I was able to easily see and cut the looser out and add to winner. Also, I was able to add bigger size on fast moves and get unexpected returns, making my loosers look smaller compare to winnners. To me now a winning trade is worth all my capital risk when actively managed - irrespective of the timeframe or instrument traded.
Goal changed from Income to just plain and simple making money.
comments are welcomed...
Guru
I felt that things changed for me once I went through a psychological change where my goals that i started with did not matter any more. It started as a thought and now I believe in it.
My goal when I traded was to make an "Income" or "get rich". I had few targets, daily, monthly, annual and what the hell a traget to retire. As i went thru some troubling years in the beginning. I begin to feel that my goals are irrelevant. They cause me to loose focus and perform under "ACCEPTED" pressure. I could not deal with loss easily - no matter how much I told myself that it is a part of the game. No matter how well my risk management was, or even execution. I never felt any confident. Then slowly I realized that these so called goals are obstacles that i have put up to limit myself. Trading is speculation and at its finest. I cannot set-up virtual Outcomes of an unpredictable market behaviour. Let alone how much I SHOULD be making.
I realized that I dont have to look for an Opportunity - but create one for me. I cannot move the markets so how can I create an Opportunity ??? this was the most wildest thought i ever had. I probably cannot put this concept in words easily in one post so - I will give this another shot in subsequent post.
Going forward - i slowly lost some respect towards Risk management techniques that I was using. the usual suspects, daily loss limit, risk and reward, risk per trade etc. I some how cannot focus on the risk anymore, all i see is return - positive or negative. All of a sudden my attitude changed towards loosing trades. I was able to easily see and cut the looser out and add to winner. Also, I was able to add bigger size on fast moves and get unexpected returns, making my loosers look smaller compare to winnners. To me now a winning trade is worth all my capital risk when actively managed - irrespective of the timeframe or instrument traded.
Goal changed from Income to just plain and simple making money.
comments are welcomed...
Guru
