I'm losing money and can't stop. How do you be patient?

[K-Pia]

I'm losing money and can't stop. How do you be patient?


Learn to look at the big, greater picture of things. -- that will help temporarily calm your nerves. and help you breathe. and recollect yourself at any given moment.

-- i'm a man of a few words, i think there's greater wisdom in less. -- if you only know how to read and interpret them.

Perfection is when there's nothing more to remove.

 

[der_kommissar]

Have you thought of robotrading? In your prior thread, you mentioned you had a very good system that was very profitable. If you think your system is good, why don't you just automate it, sit back and let it does its thing? You can always on the side "gamble" a little money in a small account if you have the urge to trade.

So many people would benefit from this advice...For alot of people it's the "time" element of sitting in a trade (especially with VIX at 12) that does them in...Impatience to get into the trade and impatience to stay in the trade...If one isn't watching the trade, that solves the impatience issue...

 

[DallasCowboysFan]

I'm losing money and can't stop. How do you be patient?


Learn to look at the big, greater picture of things. -- that will help temporarily calm your nerves. and help you breathe. and recollect yourself at any given moment.

-- i'm a man of a few words, i think there's greater wisdom in less. -- if you only know how to read and interpret them.

I like the first pic. It would be so cool to see something like that.

I wonder how long it will be before we will see commercial satellites launched into space, radiating advertising logos from space that would be seen by an entire hemisphere at one time.

Imagine looking at the sky at night and seeing a Coca-Cola, Tide or Harley Davidson logo.

Heck, imagine the turmoil you would create if you broadcast an image of Jesus, Mohammed or Lucifer.

 

[radex78]

Trading forex will better if trader can keep calm minds and relax in trading, first to prepare in my opinion is about the risk, many expert siuggested only spent risk less than 5% each plan, with make more opportunity hence will get more chances to making profit

 

[John Price]

Patience will earn you money!!!!

 

[Redneck]

Like I said in your other thread - mature

RN

 

[wrbtrader]

...However I'm afraid that when I quit I'll end up obsessing over the trades and will lead to overtrading and more losses...

You were already given recommendations by others about how to determine or discover if such will occur prior to quitting your job along with recommendation for you to not quit your job if you have no proof that you'll discipline.

Take a leave of absence, change your works days, use your vacation to trade full time or switch jobs so that the works hours allows you to trade full time on some trading days.

There's a solution by others there for you to discover if you're ready or not without quitting.

 

[slugar]

I'm going to assume from your post that you do have a system in place, and your problem, which is common, is that you feel the need for some extra action. You know, and I know, and everyone else with experience knows, that this is very destructive to successful trading.

It will help to open a simulated account somewhere. Keep it open on your desktop. When you feel the need to trade outside your system, do it there, and not with your capital. Keep an honest and regular log of this account. Mark every trade, in and out, times and dates. Treat it just as seriously as you would your system. You'll find that it will draw your attention away from your system, and let you screw around on your own time.

And who knows, you may find that you have some discretionary talent. But in any event, always keep the two accounts separated.

(Or, you may prefer to hear this advice put another way, in a well-worn phrase: "Don't shit where you eat.")

Not sure trading the wrong way on a Sim account is the way to go. Trading is about forming good habits not repeating bad ones

 

[jnbadger]

Trading is gambling. Pure and simple. You either have a gambling problem or you don't. An online forum with anonymous internet users lying about their success in stocks isn't going to make you rich.

Then why are you on here? It's stupid/negative comments like this which made a lot of good traders, who were consistently giving good advice, give up on this site.

 

[Redneck]

Not sure trading the wrong way on a Sim account is the way to go. Trading is about forming good habits not repeating bad ones

And I quote


"Practice does not make perfect. Only perfect practice makes perfect."

Vince Lombardi




RN