Please Help.. Please
- Thread starter mrnate22
- Start date
LOL - I think you just isolated the issue with 95% of ET
"It's not what you are that holds you back, It's what you think you're not."
stop day trading.
do not look at quotes/charts too often.
no one can do back and forth so many times a day. i was once a day trader, I was successful in day trading, at one point I realized: there is no sense picking little heat in a big swing. do 10times can not produce one time gain in big swing. when i check my commissions, omg, it is low 5digit a year. I realized I am a sucker, I treated trading like my regualr day job.
donated too much to my brokers.
so I stop day trading.though in a week I may just do less than three trades, even none trades, but my profits far exceed my former daytrading activities. my weekly profit is at 5digit level.
rules are not the key. if you set more rules to limit yourself, you will find you are doing weight loss thing by limiting eating. the more you are on diet, the more you want to eat, how can you lose weight?
forget about rules.
theoretically trading is actually very easy. when you see up,per your human insticnt you tend to buy, when you see drop, you tend to sell. actually it is so natural and built in human nature. since the market is full of lots of noises (little up/little down), your human nature instinct will easily suck you into those noises, while those noises are so evasive and happen so fast, you easily lost in those nons-senses little waves.
when you see a big picture, shut down the computer, you do not see those noises, so you will not react to those little noises. you may worry about big against, but if you do not see it, your worry will not turn into action.
I have big position held overnight, overweekend. over the night/weekend, big thing happens, or little thing happens, when I see it, I most likley will react to those waves, either book profit pre-maturely or cut winners short (just when I am on the computer, I saw the position is red by some noises, that annoys me, I might temp to think I am wrong, and get out of a big winner prematurely with loss).
so I choose to sleep tight, turn on my computer when the market is quiet, like noon or afternoon.
fade human nature "fight or flight". most people are afraid of dangers, they choose to run away, me too. what I fade my fear is I choose to not see those dangers, so I will react to those little dangers, I succeed.
I do not want to fight with dangers. I know the market is not at my hand, out of my touch, out of my control.
do not look at quotes/charts too often.
no one can do back and forth so many times a day. i was once a day trader, I was successful in day trading, at one point I realized: there is no sense picking little heat in a big swing. do 10times can not produce one time gain in big swing. when i check my commissions, omg, it is low 5digit a year. I realized I am a sucker, I treated trading like my regualr day job.
donated too much to my brokers.
so I stop day trading.though in a week I may just do less than three trades, even none trades, but my profits far exceed my former daytrading activities. my weekly profit is at 5digit level.
rules are not the key. if you set more rules to limit yourself, you will find you are doing weight loss thing by limiting eating. the more you are on diet, the more you want to eat, how can you lose weight?
forget about rules.
theoretically trading is actually very easy. when you see up,per your human insticnt you tend to buy, when you see drop, you tend to sell. actually it is so natural and built in human nature. since the market is full of lots of noises (little up/little down), your human nature instinct will easily suck you into those noises, while those noises are so evasive and happen so fast, you easily lost in those nons-senses little waves.
when you see a big picture, shut down the computer, you do not see those noises, so you will not react to those little noises. you may worry about big against, but if you do not see it, your worry will not turn into action.
I have big position held overnight, overweekend. over the night/weekend, big thing happens, or little thing happens, when I see it, I most likley will react to those waves, either book profit pre-maturely or cut winners short (just when I am on the computer, I saw the position is red by some noises, that annoys me, I might temp to think I am wrong, and get out of a big winner prematurely with loss).
so I choose to sleep tight, turn on my computer when the market is quiet, like noon or afternoon.
fade human nature "fight or flight". most people are afraid of dangers, they choose to run away, me too. what I fade my fear is I choose to not see those dangers, so I will react to those little dangers, I succeed.
I do not want to fight with dangers. I know the market is not at my hand, out of my touch, out of my control.
On the topic of psychology.. "Learned Helplessness"
"Experiment
Summary
In the learned helplessness experiment an animal is repeatedly hurt by an adverse stimulus which it cannot escape.
Eventually the animal will stop trying to avoid the pain and behave as if it is utterly helpless to change the situation.
Finally, when opportunities to escape are presented, this learned helplessness prevents any action. The only coping mechanism the animal uses is to be stoical and put up with the discomfort, not expending energy getting worked up about the adverse stimulus."
http://en.wikipedia.org/wiki/Learned_helplessness
"Experiment
Summary
In the learned helplessness experiment an animal is repeatedly hurt by an adverse stimulus which it cannot escape.
Eventually the animal will stop trying to avoid the pain and behave as if it is utterly helpless to change the situation.
Finally, when opportunities to escape are presented, this learned helplessness prevents any action. The only coping mechanism the animal uses is to be stoical and put up with the discomfort, not expending energy getting worked up about the adverse stimulus."
http://en.wikipedia.org/wiki/Learned_helplessness
