How do I overcome trading procrastination
- Thread starter valuetrend
- Start date
It depends on what you define as procrastination? Reading books which is not related to trading or surfing the web? If you start doing something and feel resistance from your brain (basically it's the learning process) then you can consider that battle with wasting times goes successfully.
It goes away. Remember, "These gains are not special"
Be mindful of going too far the other way and forcing trades.
And don't try to eradicate that fear of trading--just keep it in check. That nagging fear of getting back in after taking a big gain can just as well keep you out of giving it all back as keep you out of the end of a breakout. Look at DBX's chart from 6/14 and 6/18 (First big green and top green candle, respectively). Two trading days apart--think what difference that fear would make.
Backtest, optimize and implement. Trade a small enough position size that you can take every signal that your system generates without fail. Track your results on a spreadsheet. Make sure your backtest includes defined entry and exit criteria. Increase size gradually as you develop trust in your system.
Here is an example of something with an edge:
“if QQQ etf is above x day moving average, and today QQQ closes at an x day low, buy at today’s close. Exit position when QQQ closes at an x day high.”
you already know the answer
it seems your feelings towards trading r in conflict. the 1st feeling says no, but the 2nd feeling yes maybe yes. the 3rd says you already know why you r not progressing. procrastination & fear r what you have identified, as barriers to overcome in your mind
these 'barriers in our minds' r what stops us from trading successfully. I'm also a 'part-time' trader. & I work f^&king hard on it. 10x harder than at my full-time job. breaking down my old mindset & rebuilding it anew was what helped me make huge leaps in trading, as compared to learning systems. started out doing it for $. now it's screw $. it's a game I want to play
it is a matter of what you want out of this life
Standardise your capital risk to a percentage of your account. So let's say its x%. Then every trade you take must meet your trade criteria and every trade must carry a risk of x%. If you wouldn't risk x% its a bad trade. x% is both your maximum and minimum risk. But never change the value of x.
You are afraid of losing money which you have earned from trading, that is is reason you are not trading further. keep practicing on demo account with any profitable strategy till the time; when you are in consistence profit for more than 3 months, then again start live trading with more confidence.
I believe the suggestion of Dozu888 is the best and very accurate regarding building the right attitude towards money.
two more things you may wish to try.
1. take a notebook and a pen and find a silence for yourself, and make a question "What prevent me from put next trade" and write done everything you feel, without hesitating, thinking. Repeat it few times, until nothing else will come up. Then relax and start with a new question, like "what should I do to overcome this" or "when it was implanted in me, where this fear is rooted" or anything will come to you.
2. And technically - you may take just 10% or up to 50% (your choice, your limit) of your gains and set up your stop losses within this limit, dividing into two or more lots. In this way, your sub-conscience will know that you are not going to give back it all. But the inner work, suggested by mothers here above and in other posts will last forever. No rush and Good luck!
Wow, thanks. In fact I am training with a martial arts teacher saturdays and sundays at 5 am. Its been hugely beneficial. So discipline is definately the way!