I tilt/trade recklessly when I miss every move

R

roca

Hey,

I am day trading stocks and a lot of times if I miss every move out there, I get pissed and feel like I just woke up for nothing and wasting my time not making money so then I start tilting and trading recklessly or start trading Low Floats(Which I decided not to trade) and then I just blow a lot

Did someone have this happen to them? And how did you overcome it?

Thanks in advance :)
 
roca said:
Hey,

I am day trading stocks and a lot of times if I miss every move out there, I get pissed and feel like I just woke up for nothing and wasting my time not making money so then I start tilting and trading recklessly or start trading Low Floats(Which I decided not to trade) and then I just blow a lot

Did someone have this happen to them? And how did you overcome it?

Thanks in advance :)
More...

Make sure your rules are objective and "programmable". If you miss your trades due to inattentiveness, then set alerts around your strategy.

Also, if you are day trading, realize that the next opportunity is really just around the corner. A day trading system should really churn out opportunities almost daily.

"Wasting my time not making money". This part is interesting since it makes me think you're under pressure to make money. It's best to get that pressure out of your mindset. Unless of course you're in an unfortunate situation where you have to pay bills with daytrading. In that case, I say, get a job (or two).
 
It happens to most traders.

Mind exercise is very important.
The mind must be centered. Be mindful, calm, alert.
Think consciously.

The right-hand side brain problem must be fixed.
It cannot be fixed with the Left-hand side brain.
But then you will hear people saying
- you must have a good Trade Plan
- you must follow the Trade Plan
- you must write your Trade Plan in concrete
- you must be disciplined to follow your Trade Plan
 
hilmy83 said:
Make sure your rules are objective and "programmable". If you miss your trades due to inattentiveness, then set alerts around your strategy.

Also, if you are day trading, realize that the next opportunity is really just around the corner. A day trading system should really churn out opportunities almost daily.

"Wasting my time not making money". This part is interesting since it makes me think you're under pressure to make money. It's best to get that pressure out of your mindset. Unless of course you're in an unfortunate situation where you have to pay bills with daytrading. In that case, I say, get a job (or two).
More...

Thanks a lot for your response.

There were great short opportunities today on some stocks but I only included on my watchlist stocks that could have a potential upside at open(lesson learned) but since today the market went down, nothing happened from the stocks on my WL and I missed all the short opportunities.
After that, no more opportunities that fit my methodology and so I just traded Low Floats and tilting on them

Yes "Wasting my time not making money". I think this is the biggest factor and the factor is I feel like a loser if I didn't make money. No I don't have to pay bills from day trading but I want to be able to grow my account as fast as I can (wrong mindset)

I think I need to change my thinking to more positive. Instead of having the mindset of "Wasting my time not making money", I need to say this is part of trading. Not everyday is rainbow and mistakes happen and good to learn from them

Instead of saying I feel like a loser I should say No one is perfect and no one will think you are a loser because nobody is watching
 
maxinger said:
It happens to most traders.

Mind exercise is very important.
The mind must be centered. Be mindful, calm, alert.
Think consciously.

The right-hand side brain problem must be fixed.
It cannot be fixed with the Left-hand side brain.
But then you will hear people saying
- you must have a good Trade Plan
- you must follow the Trade Plan
- you must write your Trade Plan in concrete
- you must be disciplined to follow your Trade Plan
More...

Thanks a lot for your response.

Yes it is not as easy as just have a plan and follow it.

You have any tips/advices on Mind exercising?
 
roca said:
Thanks a lot for your response.

Yes it is not as easy as just have a plan and follow it.

You have any tips/advices on Mind exercising?
More...

When I started out, grinding poker helped a lot from maintaining mental focus, of learning to remind yourself to make +EV decisions, even after consecutive bad beats. It took me about 200k hands to achieve the level of mental stability needed to easily keep cool, while managing trades intraday.
 
Bastion_01 said:
When I started out, grinding poker helped a lot from maintaining mental focus, of learning to remind yourself to make +EV decisions, even after consecutive bad beats. It took me about 200k hands to achieve the level of mental stability needed to easily keep cool, while managing trades intraday.
More...

Thanks a lot will give it a shot

Was that poker with real money though?
 
Bastion_01 said:
When I started out, grinding poker helped a lot from maintaining mental focus, of learning to remind yourself to make +EV decisions, even after consecutive bad beats. It took me about 200k hands to achieve the level of mental stability needed to easily keep cool, while managing trades intraday.
More...

meditation
yoga
chakra
tapping meridian points
psycho-cybernectics <<< my preference
etc

I see some traders go to the Shrine every morning before trading.
 
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