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Deterioration of your mental state due to the emotions of trading
- Thread starter BoyBrutus
- Start date
"How did you keep yourself going forward ?"
I have a three bagger that I can't never sell. I need to look at it from time to time to remind me this whole project is doable. I think if I sold it (maybe I will sell part of it at some time) I would lose a reference point.
I've changed my entry strategy. I only buy 1/2 positions intially, the stock will invariably go down, then I will buy the rest.
Quite the conflict to have a passion for the market yet that very passion ie emotions is detrimental.
I have a three bagger that I can't never sell. I need to look at it from time to time to remind me this whole project is doable. I think if I sold it (maybe I will sell part of it at some time) I would lose a reference point.
I've changed my entry strategy. I only buy 1/2 positions intially, the stock will invariably go down, then I will buy the rest.
Quite the conflict to have a passion for the market yet that very passion ie emotions is detrimental.
And here's me thinking it was all the scotch and pussy
Quote from Hydroblunt:
Don't stay glued to the screen for 6.5 hours,
Take up some hobbies,
Go outside and chill out during lunch,
Exercise,
Eat right,
Get enough sleep
Alternatively you can just smoke some weed while you trade, it actually helps a lot. But I would not advise people to do this on a daily basis.
I would agree... I don't think it's the trading as much as it is the being glued to the screen... this is one of the main reasons I stopped day trading a long time ago.
If you are going to smoke, try a cigar... nicotine is a relaxant.
definitely have other hobbies, eat right, sleep well and get outside.
Hmmmm ... drugs and pussy and thinking about it all. Is there a pornotrader.com available? If not I'm there.
Put out the bait (drug of choice) and the babes will show. But this definitely brings up a roadblock to trading emotions ... or so I've been told by my church friends.
The primary way to NOT CARE ... which addresses the mental state is to not trade if you're losing money and getting mentally f'd up. Instead, drop trading size ... take only the best trade setups from your own trading strategery criteria ... and know/accept losses as part of the game.
If your equity curve keeps dropping ... just stop and reevaluate for a while and paper trade. It's that simple ... and that HARD!!!
AMGN
Put out the bait (drug of choice) and the babes will show. But this definitely brings up a roadblock to trading emotions ... or so I've been told by my church friends.
The primary way to NOT CARE ... which addresses the mental state is to not trade if you're losing money and getting mentally f'd up. Instead, drop trading size ... take only the best trade setups from your own trading strategery criteria ... and know/accept losses as part of the game.
If your equity curve keeps dropping ... just stop and reevaluate for a while and paper trade. It's that simple ... and that HARD!!!
AMGN
Here are my tips:
1) Calcium- Either get it through milk or pills from the store. Any grocery store has calcium supplement pills. When your body runs low on calcium, then you start feeling fatigued, drained.
2) Exercise- Running or walking at least a mile each day in the sun. Even if its running a few times around the block, any type of exercise will be helpful rather then none.
3) Getting laid- This is so valuable and I dont need to explain further. Having good steady sex has always been a plus for myself in the good times and the bad.
4) Going out and meeting people. Having friends. I use www.meetup.com and go to social events every week like clockwork. Happy hours meeting new people are invaluable.
1) Calcium- Either get it through milk or pills from the store. Any grocery store has calcium supplement pills. When your body runs low on calcium, then you start feeling fatigued, drained.
2) Exercise- Running or walking at least a mile each day in the sun. Even if its running a few times around the block, any type of exercise will be helpful rather then none.
3) Getting laid- This is so valuable and I dont need to explain further. Having good steady sex has always been a plus for myself in the good times and the bad.
4) Going out and meeting people. Having friends. I use www.meetup.com and go to social events every week like clockwork. Happy hours meeting new people are invaluable.
Strange... i thought i recognized that line.
Daytrading is definatly a grind if you do it 6.5 hours a day imo. With programs running and riskware to monitor i barely leave my desk all day. Obviously this isnt healthy and I do feel it takes its toll.
I do agree though that exercise, distracting yourself with non trading friends and relationships, and being outside help. I personally am not and will never be a substance person, id rather just suffer than take drugs of any sort.
To me its just another one of the costs of trading. Even if you have discipline, risk management, strategy, skill, luck... whatever, the market will still find ways to kick your ass. Just something i have to work on as time goes on.
People who dont sit there looking for trades 7 hours a day just cant understand what its like.
Daytrading is definatly a grind if you do it 6.5 hours a day imo. With programs running and riskware to monitor i barely leave my desk all day. Obviously this isnt healthy and I do feel it takes its toll.
I do agree though that exercise, distracting yourself with non trading friends and relationships, and being outside help. I personally am not and will never be a substance person, id rather just suffer than take drugs of any sort.
To me its just another one of the costs of trading. Even if you have discipline, risk management, strategy, skill, luck... whatever, the market will still find ways to kick your ass. Just something i have to work on as time goes on.
People who dont sit there looking for trades 7 hours a day just cant understand what its like.
As well as:
- exercise
- social support
- sufficient thrills outside of trading
you might consider meditation.
Recent research has shown that people with chronic pain have a reduction in their brains grey matter at a much higher rate than explained by ageing. Unrelated research has shown that consistent meditators have an increase in grey matter.
If you are suffering constant stress from your trading it may well be having the same effect as chronic pain .... and who wants to shrink their brains????
- exercise
- social support
- sufficient thrills outside of trading
you might consider meditation.
Recent research has shown that people with chronic pain have a reduction in their brains grey matter at a much higher rate than explained by ageing. Unrelated research has shown that consistent meditators have an increase in grey matter.
If you are suffering constant stress from your trading it may well be having the same effect as chronic pain .... and who wants to shrink their brains????