I have now evolved a bit. Now I take and accept the risk. The most frustrating thing in trading is losing money when you are right because you cant handle the pressure. Im not doing it anymore. If market pushes me off so be it. But I let it move before it takes me out and prove me wrong. I'l get it next time. One or two good trades and all the losses are paid for.
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Dealing with micro-management
- Thread starter Leopard9
- Start date
The biggest issue I still fight is when I enter a trade and I am underwater straight away. My stop hasn't been hit but it really annoys me and I have to fight myself not to exit before my stop is hit.
I know I have a positive expectancy over many trades but still it is a major issue for me.
I think this relates to micromanaging and why walking away from the screen might be the only thing to do after the stop loss has been put in place.
Like me you need to snap out of it. After all what that does is destroy our accounts. It takes balls especially with futures but the rewards are there if we let the market move more freely. Aditionally I now have a new rule. No more breakout trading. I only get in in strong momentum algo trading or in a retracement. Keep posting your progress here. It helps.
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Like me you need to snap out of it. After all what that does is destroy our accounts. It takes balls especially with futures but the rewards are there if we let the market move more freely. Aditionally I now have a new rule. No more breakout trading. I only get in in strong momentum algo trading or in a retracement. Keep posting your progress here. It helps.
Thanks. I read somewhere to write off a trade as soon as it is entered ie accept the amount risked as having been lost. It's supposed to trick the mind into detachment. Might give that a go.
You have to or you wont survive, pure and simple. Let it move, control your fear and dont interfere. If you are intuitive and your process works you will make money. Never tight your stops too much. Adjust to volatility.Thanks. I read somewhere to write off a trade as soon as it is entered ie accept the amount risked as having been lost. It's supposed to trick the mind into detachment. Might give that a go.