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

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.
 
jinxu said:
One of the pitfall I'm discovering is that I get impatient waiting for my setup that I start entering gambling trades that I should not have. I'm impatient and keep thinking about my next trade 24/7. Even though there is no need.

The good thing about my job ia that it distract me from to market. However I'm afraid that when I quit I'll end up obsessing over the trades and will lead to overtrading and more losses.

How do I learn to relax? Do I traders need hobbies?
More...

Patience is a skill acquired over time however in the short term you may want to try meditation....
 
I live in Southern California. It's a gamble every time you get in your car and get on the freeway.

While trading is to a certain extent gambling, I think that analogy is used too much by people that can't own up to their trading decisions. External causes are easier to look to than inward, where the truth really resides.
 
Handle123 said:
Hypnosis

After 25 years, I still keep a "Dumb" journal and write down non-system trades, I have learned how horrible I am as non system trader, it is generally based on being impulsive, I get feelings of missing out which I believe is form of jealousy? So it is much deeper in the mental aspects than trading, weaknesses I have/had, but through time your age says to yourself to just give up-throw hands up and accept, just too tired of fighting and my systems are far smarter than how I feel. You can/can't test easily your emotional trades, but I did find out I am so horrible at it, I have developed a system based on how horrible and it does well enough, plus when I had a feeling of buying something expensive, usually the extremes are in, LOL So learned to get out. Yea, I am like 95% wrong from trading on emotions.
More...
Please tell us when you get EMOTIONAL about a particular trade.;):D
 
jinxu said:
One of the pitfall I'm discovering is that I get impatient waiting for my setup that I start entering gambling trades that I should not have. I'm impatient and keep thinking about my next trade 24/7. Even though there is no need.

The good thing about my job ia that it distract me from to market. However I'm afraid that when I quit I'll end up obsessing over the trades and will lead to overtrading and more losses.

How do I learn to relax? Do I traders need hobbies?
More...

Hello,

If you system tells you wait for the setup to enter trade. Then you must do just that.

One reason you maybe entering gambling trades is because you do not fully trust or fully backtested your system.

For instance, if your system tells you out of 4 trades you take 3 will win and 1 will lose, there is no reason on earth to not follow that system.

Are you sure you trust your something?

Thanks
 
You could argue patience with trading is a myth, sometimes your impatient and it works out great ( guess you'd class that as a patient trade though ?? ) and sometimes your too patient and you miss an entry and sometimes your patient and it still keeps going against you.

Buying in a uptrend, on a pull back which is just a pull back and not to far to be a trend reversal is a tricky tricky fine line. Any other way gets you chopped to death fun fun fun!!
 
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.
 
I'm losing money and can't stop. How do you be patient?
jinxu said:
One of the pitfall I'm discovering is that I get impatient waiting for my setup that I start entering gambling trades that I should not have.
I'm impatient and keep thinking about my next trade 24/7.

How do I learn to relax?
More...

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.
image.jpg

image.jpg

222.jpg

o_O:) -- 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.
 
Last edited:
You must log in or register to reply here.
Back
Top