How do you deal with the fear of pulling the trigger?

keyser,

You need to feel good about executing your system. You need to associate a good job with that duty alone. Profit will come as I assume you have a good system. If you cannot master this consider auto-trading.

Michael B.


Quote from keyser:

I tested my system, it works. I find good set-ups and set targets that are reached 80% of the time!!! But I have a hard time entering a trade at the time when it sets up right. I am afraid it won't work and most of the time it does work. Anybody having the same issues and knows how to deal with this?

Thank you.
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Quote from ElectricSavant:

keyser,

You need to feel good about executing your system. You need to associate a good job with that duty alone. Profit will come as I assume you have a good system. If you cannot master this consider auto-trading.

Michael B.
More...

Hi Michael,


Auto-trading? Sounds good. Do they also send the profit direct to you? LOL. Where can we auto-trade?
 
Quote from benysl:

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The first thing I tell myself when I have a setup is "this is going to be a losing trade I am going to get stop out on this" I EXPECT to lose on this trade but I don't HOPE to. There is a different between expectation and hoping. I HOPE to win on this trade but I don't expect too.

When I lose I am ok as I expect and prepare for it. When I do win I give myself a pat on my shoulder today is a bonus day for me since I expect to lose. Tomorrow I will start all over again expect to lose but hope to win :)
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that is what I use and make sure to allocate your 'loss' amount accordingly, say to yourself I am willing to lose $100 today then pull your trigger put in $100 stop loss and watch your 'goal' come true. :p
 
Seems reasonable. I like that style .

Quote from nkhoi:

that is what I use and make sure to allocate your 'loss' amount accordingly, say to yourself I am willing to lose $100 today then pull your trigger put in $100 stop loss and watch your 'goal' come true. :p
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have a loss expection. and hope for the best. :D

learn to take profits. if you don't, someone else will take it from you. :eek:



never the other way around! :cool:



Quote from nkhoi:

that is what I use and make sure to allocate your 'loss' amount accordingly, say to yourself I am willing to lose $100 today then pull your trigger put in $100 stop loss and watch your 'goal' come true. :p
More...
 
Quote from nkhoi:

that is what I use and make sure to allocate your 'loss' amount accordingly, say to yourself I am willing to lose $100 today then pull your trigger put in $100 stop loss and watch your 'goal' come true. :p
More...


good one I used to do that. If I had a $10000 account and my stop is $500. The moment I am in position and place my stop loss. I look at my current statement $10000 - $500 = $9500. I will tell myself my account TODAY is $9500 and if it is anything more than that it is a BONUS to me.

I used to trade with couple of friends. I follow a mechanical system like I always say I expect to lose but hope to win. My friends always call me nuts and ask me why trade when I expect to lose. I only told them system is system my system is not 100% win there is always losing trade and I don't know when is the losing trade the only way is to expect and prepare for them.

It work really well for me, even now I am still using this principle.

The other way is look at your Max drawdown and Max consecutive losers. Example if Max drawdown is $3000 and Max consecutive losses is 5. I always tell myself my first $3600 (20% more than max drawdown) will be gone the moment I start trading. Sometimes I wait for the system to hit 1 loser before taking the next trade. So the moment I start the system I would expect lose lose lose lose lose. Over the next 5 trade if I ever hit a win (very likely) it would be a bonus.

Hope it help

keep us update on your progress
 
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