How to overcome the inability to accept small losses when wrong on trades?

lawrence-lugar said:
All of those latter things or aspects or variables you mentioned has a direct correlation to Mentality.
You can't escape mentality within trading...Mentality/psychology makes or breaks accounts on a daily basis o_O, :banghead:

Just look at the trading journals section of ET. All those paper 'traders' invariably blame themselves, or psychology/mentality.
Hindsight...woulda, coulda, shoulda semi-logical reasonings.

Trading successfully, the ability to generate fruitful, abundant, perpetual returns, is truly a collective dynamic process...that very few, rare traders ever accomplish.
Most traders just bobble up and down, essentially getting nowhere -- if not flat out failing and flailing.
I know it. and you know it....for everyone else in between...they are just too proud or in denial.
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Those that can, do & demonstrate....... LL can`t, so pretends to teach & offer you this......

il_570xN.399523600_nwrj.jpg

Do yourself a favor & tell him to keep what he is shoveling......
 
zenemini said:
However, the trend has changed from down to up. I now do not take that short trade.
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trend may be ended in one tf but still exist in another one
also there may be combination of s/r in different tf, etc, etc

the problem with mechanical trading its like a Procrustean bed can break the legs or cut the head of the trader based on defined parameters which may not take in account some an ordinary situations

so imho discretion is better.

but discretion should not mean abandoning rules - just the proper application of the proper rule

the complications usually arise when the wannabe trader still not sure which of his rules are real (based on market fundamentals) and which are baseless (based on imaginary fundamentals) i.e one is still in the process of discovery but should play as if all his rules are right, this is when the trader can lose his mind and stamina.. and money
 
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Xela said:
If you'll excuse some really "plain speaking" on a Sunday afternoon, until you really understand and internalize qxr's post on the previous page (this one), that's going to continue to be a problem for you: the deficiency that's repeatedly producing that outcome for you is mostly in your trading education and understanding, not your psychology.
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%%
I alsoprefer ''plain speaking'' on Sunday or any day. I mostly agree ; except i consider a margin call not near as serious as blowing up/out an account.I also agree psychology is not his problem; i have very few psychobabble books , but Dr Van Tharp has some good counsel.:cool::cool::caution::caution:
 
Spooz Top 2 said:
Those that can, do & demonstrate....... LL can`t, so pretends to teach & offer you this......

il_570xN.399523600_nwrj.jpg

Do yourself a favor & tell him to keep what he is shoveling......
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That is fake poo if I ever saw it. There are ways one can tell. Especially if one has ever picked up real poo with their bare hands.

(Note lack of poo smudge-marks on the poo-holder's hand. Unless it parachuted from the sky perfectly onto said poo-holder's hand.)
 
_eug_ said:
... as soon as I get caught in a bad trade where I am wrong in my analysis or my entry is not that great, I just let my account bleed out and only bail when the pain is very bad, rather than when I knew I should have. ...
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One method is that once in the trade, with a hard stop in place, to also start looking for an entry in the opposite direction, and use it, mechanically, to exit if it happens before the price hits your stop. Don't use it to reverse, if you trade only in the dominant direction of the next slower time frame!
 
qxr1011 said:
trend may be ended in one tf but still exist in another one also there may be combination of s/r in different tf, etc, etc
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I trade price levels, so time frame variables are not the consideration for me they might be for someone else. The time frame for a trade might be just a few minutes, and other times it may be 3 or 4 days. It all depends how long it takes for the market to move to my target or stop me out. Losers are usually quick. During periods of high volatility the targets are larger, and while many are reached within the session the trade is opened, there are times a trade may require several sessions to move to target.
 
zenemini said:
I trade price levels, so time frame variables are not the consideration for me they might be for someone else. The time frame for a trade might be just a few minutes, and other times it may be 3 or 4 days. It all depends how long it takes for the market to move to my target or stop me out. Losers are usually quick. During periods of high volatility the targets are larger, and while many are reached within the session the trade is opened, there are times a trade may require several sessions to move to target.
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tf is periods on the charts,

anyway good luck to u
 
qxr1011 said:
tf is periods on the charts,

anyway good luck to u
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No problem, I knew what you meant. But time frame, strictly speaking, is the period of time over which something takes place. You are referring to the chart's individual bar interval. Bar interval is of little relevance to me. For example, the ES rally high on 4/18/2018 was 2718.50. That will be the high no matter how your chose to display the data. Good luck to you as well.
 
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