Need Help!

[NeedHelp]

Quote from ChaosNSX:

Yeah you do... Why don't you try using a very short duration MA, just as an idea of the imediate trend and as a rule of thumb never trade against it.. for instance no going short till that indicator changes, this will keep you in the trade until you have confirmation to get out or reverse the position. Kind of like training wheels, or at least a filter for those sunglasses.

Yeah, I use 5min, 1min and tick chart. I think the tick charts have messed me up recently since I've always looked at the 5min and the 1min charts. So, I see a "down trend" on the tick chart but it's actually still going up. Just a pullback.

But in terms of methodology, I think mine is pretty good. Because the other "good angel" voice is always calling the right moves. Like today, I keep hearing myself say the bonds will rally when the Fed comes out. And lo behold it did. But I wasn't quick enough.

And then I was stupid enough to short the market, it went against me but I waited for it to come down then covered. It was the scariest 3mins. Then I hear the good voice said if it comes back then it's probably a good time to go long. Then the demon bad habit voice just took over and automaticaly hit short bids. It's NOT even part of my trading methods! It's just pure bad habit now! ACK!!!

gosh! feel like i'm trying to quit smoking or something even though I've never smoked. But I figure that's what it must feel like...

 

[RAY]

Quote from facultus:



Not if you're leveraged

What you leverage your account/position with is your choice. Something [Not an account (levered), which is not what we are/were discussing] can only go down 100%. Yet it can go up 101+%

 

[ChaosNSX]

Hey a non-smoker +2 points..

lol, anyway.. yeah I think I can relate, I have pulled dumb trades just because I was adhearing to the voice in my head that says "You have to be in to win". So I will put on dumb trades for the sake of trading and not being idle. Maybe your thing is similar.. You A. feel comfortable on the shortside and have equated it mentally with making money, and B. your voice tells you when to be in at the right time, but your pain avoidance mentality says when your short your right.

So maybe you are equating being short with right, and being long with wrong.

Go a full day where you can only go long.. give that a try. If you start making money on the long side then that phrase I liked from an earlier post will kick in and you should be pretty cured.

Quote from NeedHelp:



Yeah, I use 5min, 1min and tick chart. I think the tick charts have messed me up recently since I've always looked at the 5min and the 1min charts. So, I see a "down trend" on the tick chart but it's actually still going up. Just a pullback.

But in terms of methodology, I think mine is pretty good. Because the other "good angel" voice is always calling the right moves. Like today, I keep hearing myself say the bonds will rally when the Fed comes out. And lo behold it did. But I wasn't quick enough.

And then I was stupid enough to short the market, it went against me but I waited for it to come down then covered. It was the scariest 3mins. Then I hear the good voice said if it comes back then it's probably a good time to go long. Then the demon bad habit voice just took over and automaticaly hit short bids. It's NOT even part of my trading methods! It's just pure bad habit now! ACK!!!

gosh! feel like i'm trying to quit smoking or something even though I've never smoked. But I figure that's what it must feel like...

 

[NeedHelp]

Quote from ChaosNSX:

Hey a non-smoker +2 points..

lol, anyway.. yeah I think I can relate, I have pulled dumb trades just because I was adhearing to the voice in my head that says "You have to be in to win". So I will put on dumb trades for the sake of trading and not being idle. Maybe your thing is similar.. You A. feel comfortable on the shortside and have equated it mentally with making money, and B. your voice tells you when to be in at the right time, but your pain avoidance mentality says when your short your right.

So maybe you are equating being short with right, and being long with wrong.

Go a full day where you can only go long.. give that a try. If you start making money on the long side then that phrase I liked from an earlier post will kick in and you should be pretty cured.

Chaos,

You got a point there. I don't think it's so much that I equate being long is wrong(Perhaps I do??? Hmm..) On my shorts, I use stops and sometimes I don't use stops(that's when I get into trouble with runaway rallies!).

But when I'm in long, I have the lowest possible pain tolerance. Like the normal noise of a few points up and down, and in my mind I hear this old tape playing, "Oh my God! I can't believe it! I finally went long and this bs is happening to me." But in reality it's only 1-2 pts fluctuations. So, I get out at 1pt profit so it wouldn't "hurt" me. And then the damn thing rallied. And when it rallied enough the demonic voice say maybe I should go short now cuz it will come back down. And when I go short, it will go down a little then rally back hard. It's what's called a pullback! And all these long players jump in and push prices back up and beyond!

Why is it that I can allow a 10-20pts swing while I'm sitting in a short position, but I can't even let a 1-2 pts swing in a long. If I had allow that swing then the rally would come and then I would actually MADE MONEY! And then perhaps my psychology would change to saying, "Oh, longs aren't so bad. See, you made some money going long!" But I never gave longs that chance.

OK. I think starting tomorrow I'll do nothing but go longs unless we have a big decline then I'll go short. But else I'll try to go long as often as possible to get that long feeling back into my mind/psyche.

 

[ChaosNSX]

You could be right... I have seen his posts though.. and hes a stock with dried up bids at the moment.

Also, if hes doesn't have it together without money, I'm not so sure money would be the end all solution. If its all about making a lot of money he should become a pharmacutical supplier. Just his quest for money is interesting, cause personally it should not be about the money. It should be about the passion of the proffession, and the road to achieve.. I have always learned the money comes regardless. The universe provides through the law of abundance. I could give him a million dollars today, but if he trades it away or wastes it.. what does it mean, not a dam thing.. a lot of money won't change who he is. Just his perception of himself, maybe he will be a little more secure, and not get drunk and write about leaving ET all the time.

Quote from Lobster:



It's true, the odds of becoming an ideal mate are probably against GG, but he has one quality which is necessary for such a development and which very few display as strongly as GG: He is very aware of the fact that anything he thinks he knows or believes could be wrong. I could be wrong, but I think all he needs to achieve near perfection is a way to earn a lot of money. Once he has achieved that, I could imagine his personality would make a quantum leap almost automatically which would elevate him above us struggling morons (no offense intended).

 

[ChaosNSX]

Sounds like a plan, best of luck tommorrow

Quote from NeedHelp:



Chaos,

You got a point there. I don't think it's so much that I equate being long is wrong(Perhaps I do??? Hmm..) On my shorts, I use stops and sometimes I don't use stops(that's when I get into trouble with runaway rallies!).

But when I'm in long, I have the lowest possible pain tolerance. Like the normal noise of a few points up and down, and in my mind I hear this old tape playing, "Oh my God! I can't believe it! I finally went long and this bs is happening to me." But in reality it's only 1-2 pts fluctuations. So, I get out at 1pt profit so it wouldn't "hurt" me. And then the damn thing rallied. And when it rallied enough the demonic voice say maybe I should go short now cuz it will come back down. And when I go short, it will go down a little then rally back hard. It's what's called a pullback! And all these long players jump in and push prices back up and beyond!

Why is it that I can allow a 10-20pts swing while I'm sitting in a short position, but I can't even let a 1-2 pts swing in a long. If I had allow that swing then the rally would come and then I would actually MADE MONEY! And then perhaps my psychology would change to saying, "Oh, longs aren't so bad. See, you made some money going long!" But I never gave longs that chance.

OK. I think starting tomorrow I'll do nothing but go longs unless we have a big decline then I'll go short. But else I'll try to go long as often as possible to get that long feeling back into my mind/psyche.

 

[NeedHelp]

Quote from ChaosNSX:

Sounds like a plan, best of luck tommorrow

Thanks! But I've been trying to do that for the last few months. But what's confusing and messing this plan up is that the very next day I want to go long and the market goes down and I make decent money on my shorts! And that ONLY REINFORCES the short side some more!

well, thanks for your suggestions.

 

[Gordon Gekko]

Quote from ChaosNSX:

You could be right... I have seen his posts though.. and hes a stock with dried up bids at the moment.

Also, if hes doesn't have it together without money, I'm not so sure money would be the end all solution. If its all about making a lot of money he should become a pharmacutical supplier. Just his quest for money is interesting, cause personally it should not be about the money. It should be about the passion of the proffession, and the road to achieve.. I have always learned the money comes regardless. The universe provides through the law of abundance. I could give him a million dollars today, but if he trades it away or wastes it.. what does it mean, not a dam thing.. a lot of money won't change who he is. Just his perception of himself, maybe he will be a little more secure, and not get drunk and write about leaving ET all the time.

i have things i want to say here, but i won't, for the sake of not ruining the thread for its creator.

 

[DHOHHI]

Quote from NeedHelp:




But to feed my "short bias/psychological block/addiction or whatever" , I've been looking at things that are going down and shorting them. And they seemed to work. But that doesn't solve the real problem. I want to be able to capitalize on BOTH SIDES of the market.

but how?!

I also lean to wanting to short more than going long, especially with the rally over the past 6+ months. What I do, and this is intra-day only, is short intra-day tops and go long on intra-day weakness. So how do I identify a "top"? For me, I look for a rally that seems to have reached a plateau and is drifting sideways. Then I'll go short. And if I'm wrong I bail quickly with minimal losses. And the opposite (trying to identify an intra-day bottom) is similar. I look for an end to a selloff, some stabilization and then go long. Not sure if this is of any help. But, I think you're wise to want to play both sides of the market.

 

[NeedHelp]

Quote from Gordon Gekko:


i have things i want to say here, but i won't, for the sake of not ruining the thread for its creator.

GG,

what are you going to say? Some sicko fantasy of yours?!!