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

[mlawson71]

Trading isn't really that hard. It's see the trade, take the trade, and then manage the trade. Although I meditate before I take any trade for a boost in brain power. So I may be cheating.

So far this week I had a 100% success rate in my predictive modeling. I traded with real money 2 out of 5 days. However, while profitable I didn't extract the full profit potential that I could have made. My next step is to optimize my profit taking.

That's not cheating, that's being prepared.
I wasn't arguing that Forex is hard, just that I need more effort to focus on my own work to be successful.

 

[i960]

Uh it sounds like you haven't been in the workforce for awhile have you. I guess 30 years maybe. I'll ask a similar questions i the logic you're using against me. If you haven't had a real job in 30 years what makes you qualify to be advising or judging about it. It's like an ET trader who never even touch a computer giving trading advice here.

Also fyi I have asked my supervisor to fired me or laid me off. He said no. I'm in an indurstry that is hard to get fired from. Currently I'm in a position to get a paycheck just for showing up. I'm gonna milk it as much as I can. Not that it's really your business.

Why are you so intent on day trading? The better setups are on higher time frames anyway. You're seeking action and it's a symptom of something that will eventually wreck you.

 

[jinxu]

Update. I'm making $700 per day now.

 

[mlawson71]

Update. I'm making $700 per day now.

All is well when it ends well, after all. Congratulations.

 

[radex78]

Update. I'm making $700 per day now.

Amazing result you can make 700$ per day, how much capital on your account?
Might also as big capital more than 10000$ isn't?

 

[GotherL]

Amazing result you can make 700$ per day, how much capital on your account?
Might also as big capital more than 10000$ isn't?

Yes, the number means nothing without percentages.

 

[Turveyd]

Fastest turn around ever, making 700 once, does not been you'll make it every day.

 

[qxr1011]

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?

There is a story about a sultan requesting of King Solomon a sentence that would always be true in good times or bad; Solomon responds, "This too will pass away".

 

[Buy1Sell2]

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?

Exercise patience. This may not be a trait that can be learned. Rather, it may be a gift.

 

[slugar]

Exercise patience. This may not be a trait that can be learned. Rather, it may be a gift.

It can be learned like most things just takes practice and making up your mind to do it