Dealing with micro-management

Leopard9 · Dec 4, 2018

Hello everyone. For those of you who have successfully completed this phase, I ask for advice. I feel im near to unlock my full potential as a trader but some level of fear and micro-management is still in the way. My system works and my intuition is very acertive. I dont freeze anymore but i cant seem to correct my micro management issues and control my emotions while im in. I trade mostly futures, especially the NQ, intraday. I could tell you some stories of how bad it gets but i think that isnt necessary.
I am applying the teachings of Mark Douglas and im currently on my third 20 trade exercise. How to bend your mind to finally stop micro management once and for all? How did you do it? At this point im thinking of going away from the screens or unplug the mouse... Its a little bit compulsive especially in volatile environments.

Thanks

formikatrading · Dec 4, 2018

Given your strategy, what is your projected holding period? And are you looking at the screens when you shouldn't?

Leopard9 · Dec 4, 2018

Day trading mostly. Yes, short time frames. Always looking at price action :S

wrbtrader · Dec 4, 2018

Leopard9 said:
Hello everyone. For those of you who have successfully completed this phase, I ask for advice. I feel im near to unlock my full potential as a trader but some level of fear and micro-management is still in the way. My system works and my intuition is very acertive. I dont freeze anymore but i cant seem to correct my micro management issues and control my emotions while im in. I trade mostly futures, especially the NQ, intraday. I could tell you some stories of how bad it gets but i think that isnt necessary.
I am applying the teachings of Mark Douglas and im currently on my third 20 trade exercise. How to bend your mind to finally stop micro management once and for all? How did you do it? At this point im thinking of going away from the screens or unplug the mouse... Its a little bit compulsive especially in volatile environments.

Thanks

You exiting profitable trades too early...before the profit targets are reached ?

Leopard9 · Dec 4, 2018

wrbtrader said:
You exiting profitable trades too early...before the profit targets are reached ?

Yup... Mostly yes

wrbtrader · Dec 4, 2018

Leopard9 said:
Yup... Mostly yes

Too many trades outside of your trading plan as in intuition trades or emotional trading ?

Trading with money that you can not afford to lose ?

Easily distracted while trading via something else in your trading that has no impact on your current trade (open trade) or you're so focus that you don't see the big picture...resulting in missed trade opportunities that would have been profitable ?

wrbtrader · Dec 4, 2018

What time frames you're using ?

You just day trading for points or scalping for ticks ?

Leopard9 · Dec 4, 2018

wrbtrader said:
Too many trades outside of your trading plan as in intuition trades or emotional trading ?

Trading with money that you can not afford to lose ?

Easily distracted while trading via something else in your trading that has no impact on your current trade (open trade) or you're so focus that you don't see the big picture...resulting in missed trade opportunities that would have been profitable ?

Not really. Im more patient now. If risk increases too much i dont take it unless its a stupidly impulsive move or algo driven where chances are better. Not losing nothing I cant afford. Sometimes i miss oportunities yes while distracted on other instruments and I get frustrated.

Leopard9 · Dec 4, 2018

wrbtrader said:
What time frames you're using ?

You just day trading for points or scalping for ticks ?

15 min. Between intraday and day before fibo levels. Tight stops. Not taking many chances on swing trading on this environment.

wrbtrader · Dec 4, 2018

Leopard9 said:
Not really. Im more patient now. If risk increases too much i dont take it unless its a stupidly impulsive move or algo driven where chances are better. Not losing nothing I cant afford. Sometimes i miss oportunities yes while distracted on other instruments and I get frustrated.

Nobody here knows your real routine as you move from trade to trade or from day to day as a trader. Thus, for you to feel like you're micro managing...there's things you have not yet mentioned.

On the surface, you're doing too much or you're not efficient at the things you're doing.

Holiday's are approaching...its normal for us traders to feel a little overwhelm this time of the year especially when you're also concentrating on other instruments and some may think in error that they are micro managing their trades.

Take extra time off from trading...longer lunch breaks, exercise, more time with the family, lengthen your vacation and other personal things that easily gets you away from trading (away from your monitors/computers) for a little while...it may re-energize you.

wrbtrader