I think I'm gonna go to Gambler's Anonymous

A hand written journal is a good idea. I already have one that I write down thoughts and observations. It is helping, but as Chinook said, it is a slow process. I'm at a stage where I recognize the problem, but still do it. Perhaps with enough time, journal entries, and losing enough money will make the pain of breaking my own rules too much to bear. I can only wish that that point will hit me sooner rather than later.

DNAJ65000
 
Replace it with something else addicting but less harmful...

We all know its not gambling your addicted to, your an addict in general...

Replace it with a different addiction. Maybe get addicted to saving money or drinking, or sex, or traveling .. all are decent replacments.

good luck,
:D
 
In all honesty maybe you are just forcing a trading style you are not really mentally equipped for..

For instant gratification try scalping..

Paients is fine for certain types of trading, but for others.. having paients means your trade is wrong and its time to bail..

Try a different type of trading.. one a little faster paced..

In AA they tell you if you turn to drinking as a way to relieve stress, one thing to do is A. attack from the front and try to drink less, or B. Attack from the back and destress so you don't need the drink.

You crave imediate gratification, I say adapt to where that attribute is rewarded not punished, and you won't have a problem.

"You don't have a problem, you only think you do"



Quote from dnaj65000:

Has anyone gone to GA for their trading? If so, I'd like to hear what you have to say. I'm considering about going to one of their meetings. Although the profile that they are trying to help doesn't exactly match trading, I think it might still be worthwhile to see if the program can instill discipline. In a way, my trading decisions are like those of smokers, overeaters, or gamblers. I like the instant gratification of entering a trade even when it is against my profitable system. I try to outsmart the cold hard numbers and as a result, nearly blew up my account twice. Successful, profitable, and consistent trading is about delayed gratification. It's about discipline to execute the system when it gives the signal. Although my discretionary trading is based on 6 years of experience, I still feel like it's a calculated gamble nonetheless. I'm not rich yet because I'm not a successful trader. I know what I have to do. I'm just having trouble making myself do it. Any thoughts would be appreciated.

DNAJ65000
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I find my security in my system. I try not to measure my success with profit or dollars. Ironic though...its why I trade. I guess what I am trying to say is one will achieve the other with the least pain.

Michael B.
 
Good step but a journal is not for contemplation : it must be a work tool also. And you can work well only if you try to quantify things so a part of journal (not all) must have quantified elements (see an example here http://www.econometric-wave.com/statistics/1/home.html.html). Instead of losing money for real use a simulator and continue the journal.

Quote from dnaj65000:

A hand written journal is a good idea. I already have one that I write down thoughts and observations. It is helping, but as Chinook said, it is a slow process. I'm at a stage where I recognize the problem, but still do it. Perhaps with enough time, journal entries, and losing enough money will make the pain of breaking my own rules too much to bear. I can only wish that that point will hit me sooner rather than later.

DNAJ65000
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