$400? Try $4,000. Miki is so incredibly right that you can't fall into the trap of watching some of your losses pile up and then allowing your senses to become dull to more losses (as though anymore losses are small because they are only a small % of what you have already lost). Tripak is also very right, especially with regard to allowing a missed trade (or a perceived bad fill) to stir your emotions, distort your judgement and bring you to make poor (especially risky) trades as a result. And the worst thing that can happen is for you to MAKE money from taking such gambles, because then you think you did the right thing, and you will continually remember that lucky trade as you make 6 more bad trades that cost you several times what you made. Also, White, keep in mind that the market this month has been HORRIBLE!
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Overtrading
- Thread starter white
- Start date
mute rigel
Originally posted by Commisso
Overtrading is the product of approaching the market in a selfish manner... When you can learn to approach the game in a selfless way you will no longer be susceptible to this behavior/mental breakdown...
I like your comments. What has helped you approach the market in a selfless or unselfish manner?
commisso-
your statement about selfless manner is intriguing. Could you please elaborate as I am not sure how one can be trading for profit and at the same time being selfless. (this is not an argument just a question) I suspect you have some trading beliefs that may be useful for many to understand.
I will state that when I am entering a trade I am looking to suceed and make money but I trade very short term where I feel being aggressive with the guts to make the tough entry is the key to making money. I fell like I am pouncing on an opportunity. However, as I would like to mix in longer term trades perhaps I need a different mind set for those trades. Do you hold the key to stretching out my timeframes.
Perhaps I should just seek to add liquidity on my entry and just allow my protective stops or profit exists to exist to provide more liquidity. To me it seems farfetched not attempting to make money but perhaps this is part of a paradox that might help with longer term trading.
your statement about selfless manner is intriguing. Could you please elaborate as I am not sure how one can be trading for profit and at the same time being selfless. (this is not an argument just a question) I suspect you have some trading beliefs that may be useful for many to understand.
I will state that when I am entering a trade I am looking to suceed and make money but I trade very short term where I feel being aggressive with the guts to make the tough entry is the key to making money. I fell like I am pouncing on an opportunity. However, as I would like to mix in longer term trades perhaps I need a different mind set for those trades. Do you hold the key to stretching out my timeframes.
Perhaps I should just seek to add liquidity on my entry and just allow my protective stops or profit exists to exist to provide more liquidity. To me it seems farfetched not attempting to make money but perhaps this is part of a paradox that might help with longer term trading.
Could we be making a brief, unusual sentence out to be more than it is? I think the following tip will be more helpful:
If you become one with the market you will avoid overtrading. Be the market!
If you become one with the market you will avoid overtrading. Be the market!
Originally posted by TriPack
I like your comments. What has helped you approach the market in a selfless or unselfish manner?
Tripack,
I suppose the first step for me was to come to the realization that the markets themselves are selfless in nature... Once i came to truly appreciate that the markets are neither for or against, it seemed absurd for me to be...
Also after getting kicked in the teeth enough times, I simply surrendered... I came to the realization that the market will do what it will, regardless of what I want... It occured to me that my selfish motives and attachments could only serve to create duality between myself and the markets... I just came to understand that all the wishin in the world would not make it so and that the only thing I had control over in the game was myself...
Thats what I mean by selfless... I approach each session with absolutely no selfish motives or attachments whatsoever... My only goal is to get into the flow and perform to the best of my abilities... The money now just flows into my account almost as if it were an afterthought...
PEACE and good trading,
Commisso
Originally posted by jem
commisso-
your statement about selfless manner is intriguing. Could you please elaborate as I am not sure how one can be trading for profit and at the same time being selfless.
Well Jem on a micro-level (trade to trade, even day to day) I am not actualy trading for profit... I am simply trading to trade... I just go out there and get into the flow and just perform the best I can... The profits sort themselves out...
Originally posted by jem
[/B]I will state that when I am entering a trade I am looking to suceed and make money but I trade very short term where I feel being aggressive with the guts to make the tough entry is the key to making money. I fell like I am pouncing on an opportunity. However, as I would like to mix in longer term trades perhaps I need a different mind set for those trades. Do you hold the key to stretching out my timeframes. [/B]
Jem I don't really understand what you are trying to convey with the above statement, so I can't really help you with your transition...
PEACE and good trading,
Commisso
Also Jem are you the one who once told me that the key is to "grind"
Originally posted by Commisso
I just came to understand that all the wishin in the world would not make it so and that the only thing I had control over in the game was myself...
Commisso,
Do you approach other aspects of your life in this same manner or is this something that you just apply to trading?