Need Help!

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NeedHelp

Hi ET Members:

I just found your website. Looks pretty interesting. And I figure with all the experienced traders here, perhaps you guys can help me!

For the last couple of months, I keep doing the WRONG THINGS OVER AND OVER! I can't for the life of me go LONG. I keep going short. And obviously, got hurt in every rallies!

And it's not even because I like to countertrend. It's a PSYCHOLOGICAL BLOCK! My methods tell me to go long on rallies. But I still go SHORT!

And when I do go long, I get out for a super small profit because I'm so afraid reversal. I think this a manifestation of the the "bad longs" I did during the bear market. So, now I can't even go long.

This is depressing, because if it merely was me being clueless then it might be forgivable. But I know full well. It's that demonic voice inside of us that tell us to do the wrong things. Or is it psychological scars of past bad longs? Or is it our ego saying we are right and the market is wrong?! Or is it some kind of self-destructive feeling?

What is it?!! And most importantly, how does one fix it?! I need a step by step program to fix this issue before it's too late. It already has done a lot of damage to my account...

thanks!

kristen
 
Quote from NeedHelp:

Hi ET Members:

I just found your website. Looks pretty interesting. And I figure with all the experienced traders here, perhaps you guys can help me!

For the last couple of months, I keep doing the WRONG THINGS OVER AND OVER! I can't for the life of me go LONG. I keep going short. And obviously, got hurt in every rallies!

And it's not even because I like to countertrend. It's a PSYCHOLOGICAL BLOCK! My methods tell me to go long on rallies. But I still go SHORT!

And when I do go long, I get out for a super small profit because I'm so afraid reversal. I think this a manifestation of the the "bad longs" I did during the bear market. So, now I can't even go long.

This is depressing, because if it merely was me being clueless then it might be forgivable. But I know full well. It's that demonic voice inside of us that tell us to do the wrong things. Or is it psychological scars of past bad longs? Or is it our ego saying we are right and the market is wrong?! Or is it some kind of self-destructive feeling?

What is it?!! And most importantly, how does one fix it?! I need a step by step program to fix this issue before it's too late. It already has done a lot of damage to my account...

thanks!

kristen
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So it's just not me.:D
 
Quote from Pabst:



So it's just not me.:D
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Pabst,

What are you doing wrong? The same thing? Please explain
further. And have you overcome your problems?

thnx,

k
 
I don't know if it will help, but I never look at it as long or short. Just points, cents, momentum, and some other junk ;).

I go long/short about 50/50.

Theoretically, there would seem to be more opportunity from longs. Being the market has historically gone up (so far), and something can only go down 100%.
 
i would have to agree withe Ray, don't look at it as going long or short, just points and whatever way your chart/system is telling you the points are moving enter in that direction. if you keep entering trades based on a feeling you have your gonna lose, if you have a system that works obey it, or if you have a feeling the market is going to move one way, enter you trade in the opposite way you are feeling, can't be no worse than what you are doing now.
 
Here's a thought: Most of the time when the stock market goes up, there are instruments that go down: Gold, treasuries, currencies. If I were you I would take a look at ZB and ZN. This usually helps me when I just can't get myself to run with the trend in the ES or NQ.
 
In all seriousness I had the exact same problem going short...

The way I cured it is I traded a fake account and just put on short positions.. even for no reason.. just to practice trading out of them and covering when I was wrong.. and to fine tune my gut to be able to tell me when i'm wrong.. before the bids fly in.

In your case it would be before the offers come flying in.

Just initiate some fake trades, not for the reason of p&L , but to just get used to the idea of flowing with a trade and getting out when your gut tells you the flows over.

reverse your thinking about the cutting the profits short, its the loosers your suppose to cut short. :eek:

Put on a trade, and set a stop, watch it.. and let your position flip between P/L but as long as it doesn't hit your stop don't get out... keep doing that and you will get a better feel and more comfortable with letting the stock go for you. Have some confidence hun. You wouldn't have put the position on in the first place if you didn't have a reason, so let it prove you right for a while.

Your profit taking should be your choice to get out, not when you have to get out ;)

best of luck..:cool:




Quote from NeedHelp:



ChaosNSX,

I mean something serious. The bat idea is a bit too much. I'm a girl!

-k
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