How to stop trading?

I

innovest_11

Weird, actually somehow i know yesterday that Fed cut rate, there's possibility of market crash, yet, before fed announcement, i go and buy.

And yesterday, somehow i know market is going to whipsaw, yet i bought again.

What the hell i'm doing and how to stop this action?
 
The pro's use news events to manipulate the markets for example buy at lower prices or catch stops etc etc . You should'nt trade news unless you really know what your doing. Its just gambling.
 
you trade for the sake of trading, that is an expensive amusement

cut off the DSL

trading most time is an obsession, there are excitemet/fun. I have this problem too.

pretty normal, just keep trading until you feel sick of it, then this habit will cbe cured
 
Quote from daxscalper:

It is impossible to trade without a clearly defined strategy...
More...

Right. You need a plan. And write the plan down don't just keep it in your head.
 
daxscalper - construct a plan, you wont regret it



and inovest - why are you buying? are you just playing the guessing game... i lost lots of money doing that until i finally came to my senses and got learning about mechanical trading. now i realise how stupid i was. im not saying mechanical trading is the way, just pointing out that some form of a plan is the only way to consistency.

goodluck to both of you's.
 
Find a rules-based system you're comfortable with and get to understand it well. Chart it, watch it, analyze it, question it, but most importantly have confidence in it. Over time you'll develop your pattern recognition skills and you'll start getting into trades before you even realize you're doing it. I see trading as a business rather than a trip to the casino. Most importantly, give yourself time. I'm in year number five of somewhat active trading and I'm just starting to push a little beyond the perpetual breaking even.

Good luck,

M.O.Boss
 
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