My friend's trading problem

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Quote from Derrick1983:
So, is it emotions that rule how you trade or whether you win or lose, does this relate to following thread in any way?
http://www.elitetrader.com/vb/showthread.php?s=&threadid=125488&perpage=6&pagenumber=11
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I think both emotions & the platform you are using matters, for if either are missing, you are bound to fail. I feel that both are important for success. Others also add capital as another important criteria for success. Let us see what others have to say to this?
 
Quote from JaiSreeram:

I think both emotions & the platform you are using matters, for if either are missing, you are bound to fail. I feel that both are important for success. Others also add capital as another important criteria for success. Let us see what others have to say to this?
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Thanks JaiSreeram for the reply. Yes, I had read of capital being important. Also, if not have sufficient capital, to try out pooling. The threads below tell the point of capital:

http://www.elitetrader.com/vb/showthread.php?s=&threadid=127983&highlight=pooling

http://www.elitetrader.com/vb/showthread.php?s=&postid=1934390&highlight=pooling#post1934390

http://www.elitetrader.com/vb/showthread.php?s=&postid=1934388&highlight=pooling#post1934388

http://www.elitetrader.com/vb/showthread.php?s=&threadid=126198&highlight=capital

http://www.elitetrader.com/vb/showthread.php?s=&threadid=127878&highlight=capital

http://www.elitetrader.com/vb/showthread.php?s=&threadid=112333&highlight=capital

http://www.elitetrader.com/vb/showthread.php?s=&threadid=124206&highlight=capital

http://www.elitetrader.com/vb/showthread.php?s=&threadid=129634&highlight=capital

http://www.elitetrader.com/vb/showthread.php?s=&threadid=108470&highlight=capital

http://www.elitetrader.com/vb/showthread.php?s=&threadid=127818&highlight=capital

http://www.elitetrader.com/vb/showthread.php?threadid=129117

http://www.elitetrader.com/vb/showthread.php?s=&threadid=127886&perpage=6&pagenumber=10
 
I had this problem, great paper trading, but an irrational fear the act of actually trading would somehow jinx the strategy. However, it had to be done and the first time I finally pulled the trigger, I automatically entered my stop based on max loss per trade and watched the trade turn against me and stop me out at a loss of $1200 rather quickly.

I said to myself, "Well, that was a bust", got some coffee, came back and watched the chart until it pivoted off the next support level and traded again. This time I made $3800.

1. Choose the worst case scenario you're willing to accept on the trade

2. Pull the trigger and lock in the trade at the worst case scenario

3. Win/win situation results because you've emotionally accepted the possibility of a loss in advance and you know you'll live to trade another day.
 
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