How to treat the 'cannot pull the trigger' symtome
- Thread starter ADX_trader
- Start date
nicely said, RT
ADX
The cure is......... "PULL THE TRIGGER".
Lest I sound too glib,,,,
You may want to set an amount that you are willing to lose.
( not too painful - but not too painless either ).
Then - set out to lose it - ALL of it - come hell or high water -
"BUT ONLY" by pulling the trigger when you think you should be pulling the trigger -
according to your methodology.
If you go bust on that predetermined amount
Perhaps you need to rethink your trading methodology.
It's a battle I fight every day - ya just gotta' tell yourself that it's a "Good Day to Die" .
After all - its just money - it ain't a Combat Patrol.
The cure is......... "PULL THE TRIGGER".
Lest I sound too glib,,,,
You may want to set an amount that you are willing to lose.
( not too painful - but not too painless either ).
Then - set out to lose it - ALL of it - come hell or high water -
"BUT ONLY" by pulling the trigger when you think you should be pulling the trigger -
according to your methodology.
If you go bust on that predetermined amount
Perhaps you need to rethink your trading methodology.
It's a battle I fight every day - ya just gotta' tell yourself that it's a "Good Day to Die" .
After all - its just money - it ain't a Combat Patrol.
I was EXACTLY in the same situation when I was starting to trade. I was trading Bonds and developing my method when suddenly I just could not put the trade on. Fortunately for me I found help of more experienced trader who evaluated my method and approved it as suitable for trading. It looks like you have no confidence in your method. You should have it backtested .
1/ My suggestion is for You to do the same. Find someone who is experienced trader of your commodity and get evaluation of your method. Maybe your method is not suitable for your "genetic make up ". I personally switched to daytrading and option writing.
2/ Reduce size of your account to no more than 10 K. If you know what you are doing, you can trade 2-4 contracts and make living. If your method sucks, all you lose is 10 K.
Feel free to PM me if you want to discuss this further.
Walter
1/ My suggestion is for You to do the same. Find someone who is experienced trader of your commodity and get evaluation of your method. Maybe your method is not suitable for your "genetic make up ". I personally switched to daytrading and option writing.
2/ Reduce size of your account to no more than 10 K. If you know what you are doing, you can trade 2-4 contracts and make living. If your method sucks, all you lose is 10 K.
Feel free to PM me if you want to discuss this further.
Walter
i have the opposite problem, i am trigger happy, which can also be a problem....you gotta find an appropriate medium.
you gotta be comfortable with losing money. i have seen many older traders afraid to pull the trigger b/c they are uncmfortable with the computer itself, in which case just practice entering orders outside the matket, FWIW
you gotta be comfortable with losing money. i have seen many older traders afraid to pull the trigger b/c they are uncmfortable with the computer itself, in which case just practice entering orders outside the matket, FWIW
Quote from wally_:
Perhaps you need to find a trading partner who would make you execute your trades. Just a thought.
someone asked me to do just that for him, but it wont help unless youre a successful trader.
in my case- he thought that, having me would eliminate his fear and 'then' he would be successful. it doesnt work that way. you have to face the fear yourself. do what you gotta.
Perhaps you need to find a trading partner who would make you execute your trades. Just a thought.
someone asked me to do just that for him, but it wont help unless youre a successful trader.
in my case- he thought that, having me would eliminate his fear and 'then' he would be successful. it doesnt work that way. you have to face the fear yourself. do what you gotta.
to do it the first time, but then it should be easier. So how about this: get drunk and do it, then gradually get drunk less and less yet keep pulling the trigger. Yes, it's a crude solution, but perhaps it would work.
Of course, you should not get too drunk and shoot 10000 contracts in one order...
Of course, you should not get too drunk and shoot 10000 contracts in one order...
I am having the same problem. I was watching DUK on Thursday and it was down and had been ranging between 13 & 13.40 and I was ready for a breakout. I didn't pull the trigger and the Dow shifted up and the stock moved up almost $1.60. The next day I missed another sweet setup. My wife is getting mad that I making to much pretend money.
Many books only teach you not to do something e.g. don't overtrade, don't take big risk, don't listen to rumors, ... But they seldom tell you how to DO something. It is understanable. There are too many people get wiped out by making those mistakes. There are few traders get wiped out by not pulling triggers. You just could not make any money. Even the law only prohibited you not doing something, it wouldn't suggest you what to do in your life. I read Alex Elder's book many times and it help me to get rid many bad trading habits. But it seems also frozen me from pulling the trigger.
You just could not make any money. Even the law only prohibited you not doing something, it wouldn't suggest you what to do in your life. I read Alex Elder's book many times and it help me to get rid many bad trading habits. But it seems also frozen me from pulling the trigger.