I have read "Trading in the Zone" but still struggling with psychology

[addminuslast]

I get nervous sometimes, I get the feeling of "hoping" even though I have backtested multiple instruments over 10 year period. I still get the feeling to want to revenge trade when I lose a trade.

How do you guys solve this? I've been trading for about 5 years, although I feel I have gotten better psychologically over the years, I still feel it cannot be completely removed, I still feel uncomfortable. I want to feel at ease, like trading has become easy.

 

[dozu888]

do you make money?

imo 'trading in the zone'... and there is some other guy wrote a similar book I forgot the name... these things are really secondary... if you make money, there is nothing to psych about lol.

I don't do short term anymore.... more of a long term finding value pockets and accumulation type style now... you might want to just take this approach.. there will be some draw downs.. my last peak to trough was like 7 digits lol but whatever you just buy more on the dip.... bottom line is if you make money short term loss/draw down is no big deal.

 

[wrbtrader]

I get nervous sometimes, I get the feeling of "hoping" even though I have backtested multiple instruments over 10 year period. I still get the feeling to want to revenge trade when I lose a trade.

How do you guys solve this? I've been trading for about 5 years, although I feel I have gotten better psychologically over the years, I still feel it cannot be completely removed, I still feel uncomfortable. I want to feel at ease, like trading has become easy.

You didn't provide enough information...maybe because it has more to do with personal issues not related to trading that's impacting you psychologically as a trader.

I had similar like problems in the beginning too that endured for about 3 years. Yet, when I started trading in an office with other traders (not prop) like me in which we rented an office together so that we wouldn't trade alone at home...

That was when I was able to work on and resolve my psychological issues that impacted my trading results even though the psychological issues had nothing to do with trading. We were able to help each other as traders without dealing with anything involving trading.

Nervous, hoping, revenge and many other things that impact your trade decisions.

Maybe you don't realize it but we're all wired differently in comparison to the other trader...something that's little to one trader is very important to another trader.

You see this in how we respond/reply to someone. That response/reply is different than the response/reply by someone else.

Regardless, someone with you in person (side by side) will be able to tell you if its something in your trading or something about you as a person that's connected to personal issues in your life.

My point, if you have psychological issues impacting your trading...don't trade alone. Trade with others that personally know you or find others to trade with so that they can start to know you personally. Forums and chat rooms does not fix the problems...you need to trade with others in person in the same environment.

wrbtrader

 

[MattZ]

I get nervous sometimes, I get the feeling of "hoping" even though I have backtested multiple instruments over 10 year period. I still get the feeling to want to revenge trade when I lose a trade.

How do you guys solve this? I've been trading for about 5 years, although I feel I have gotten better psychologically over the years, I still feel it cannot be completely removed, I still feel uncomfortable. I want to feel at ease, like trading has become easy.

Did you ever consider developing discipline and routine outside of trading in other areas? I quite often see that successful traders developed their discipline outside of trading and "export" it to trading.

 

[Scataphagos]

I get nervous sometimes, I get the feeling of "hoping" even though I have backtested multiple instruments over 10 year period. I still get the feeling to want to revenge trade when I lose a trade.

How do you guys solve this? I've been trading for about 5 years, although I feel I have gotten better psychologically over the years, I still feel it cannot be completely removed, I still feel uncomfortable. I want to feel at ease, like trading has become easy.

MattZ makes a good point.... discipline.

Discipline in trading is, "doing what you're supposed to, even if it makes you a bit queasy."

Discipline can come when you "KNOW you are probably doing the right thing". Of course you'll have to understand why it's probably the right thing.

Douglas has another book out... "The Disciplined Trader". I suspect much overlap with his other books, but there might be some inspiration for you in this one.

 

[wrbtrader]

Did you ever consider developing discipline and routine outside of trading in other areas? I quite often see that successful traders developed their discipline outside of trading and "export" it to trading.

That's another issue I wanted to mention. If there's other things outside of trading that's being imported (good or bad) into trading...it will impact our trading...good or bad.

I've seen simple things with a trading pal that has problems paying his bills on time even though he has money or problems with staying on his exercise routine given to him by his fitness instructor after a heart attack. Then he can't figure out why he has problems pulling the trigger to get in on a trade or problems with deciding if he should exit a bad trade that's at a small loss before it becomes a big loss.

Our mind or behavior in one thing is connected to our actions in something different.

wrbtrader

 

[KDASFTG]

Q-Let me ask you a question:
How do you feel on the inside when you've just taken a loss playing the gambling game of roulette?

Answer:
Notice how that negative result in roulette causes little or no pain at all. And when you can apply that same "way of thinking" to your trading, you will have the answer you seek. The way you think about your trading losses needs to be changed with the way it really is in trading reality. Unfortunately even to this day, this is where most people fail at this gambling game. At this time, you need to learn to think differently about your losses.

* Remember: "It doesn't do you any good to take on the risk of any particular trade, if you are afraid to internally accept the consequences of that trade"

* You have to learn to think differently about your trading. (TITZ pg 7-2nd para)

* "When you learn the trading skill of risk acceptance, the market will not be able to generate information that you have defined or interpret as painful" (TITZ p10 last para)

I suggest that you reread Douglas again from this new perspective, I have read the book many many times until I have placed its passages in my own mind, and in my own words.

Mark was truly a Master at this,....I miss him, and his way of thinking.

KDASFTG

 

[nooby_mcnoob]

MattZ makes a good point.... discipline.

Discipline in trading is, "doing what you're supposed to, even if it makes you a bit queasy."

Discipline can come when you "KNOW you are probably doing the right thing". Of course you'll have to understand why it's probably the right thing.

Douglas has another book out... "The Disciplined Trader". I suspect much overlap with his other books, but there might be some inspiration for you in this one.

Discipline is dumb. IMO remove discipline from the equation in a way that it is automatic.

 

[Scataphagos]

How do you feel on the inside when you've just taken a loss playing the gambling game of roulette?

Answer:
Notice how that negative result in roulette causes little or no pain at all. And when you can apply that same "way of thinking" to your trading, you will have the answer you seek. The way you think about your trading losses needs to be changed with the way it really is in trading reality. Unfortunately even to this day, this is where most people fail at this gambling game. At this time, you need to learn to think differently about your losses.

Interesting. Making a losing play at roulette causes no anguish because you expect to lose on each spin if you pick a number... odds are 1:38 against a win.

(Don't think I could ever become that cavalier about losing trades, though.)

 

[KDASFTG]

Not exactly Scat,

But understand the edge percentage which you are expecting,....and that there will be losses.

Thanks,

KDASFTG