Impulse trading...Anyone else in the same boat?

If impulse trading is a boat... it´s called titanic...

I´ve been there several times, before I realize it Im trading with my gut... I do 200-300 trades in one day and end up in the red, for me that´s a no no... what I do is that I put myself back in simulator until Im profitable again{at least on the simulator} for at least 5 days in a row... then I go at it again. That´s the way I discipline myself into getting off that boat.

I usually trade very actively, on my good days I do 100-150 trades. But there´s a difference between trading actively with your head and trading actively with your stomach...
 
Quote from eusdaiki:

If impulse trading is a boat... it´s called titanic...


I usually trade very actively, on my good days I do 100-150 trades. But there´s a difference between trading actively with your head and trading actively with your stomach...
More...

True
 
Quote from cashmoney69:

... I didn't mean to be insulting when I said Day traders are impulse traders too. I guess what I ment to say is, day traders have to act fast on the little amount of information that they get, often times not being able to see the big picture.

- nathan
More...

Actually Nathan, profitable (to whatever degree) intra-day traders operate in the exact opposite fashion that you have described here.

So, to help you in your thinking, try to get in the habit of:

1. Planning your trade; and

2. Trading your plan

If your setup doesn't work, just come back tomorrow, the markets will be there.

This should severely limit your impulse trading AND make you much more profitable in the medium - to - long run.

Later,

Jim
 
You must log in or register to reply here.
Back
Top