Psychology journal

nooby_mcnoob said:
2. Price was really driving home the point I read in Pitbull which is (paraphrasing): quite often when you get the feeling in your gut like you want to end the trade, you really want to double-down instead of exiting. I didn't double down though. I don't think I ever would on a scalp.
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Interesting accidental foreshadowing here given tonight's events. I was short futures this evening. Thought I covered after I thought the news said "no casualties" as I was uncomfortable with holding the position but turned out I doubled my short position which basically doubled my unrealized PNL. Closed it now.

It was interesting to reflect on not knowing that I had a position on. And how I would feel differently had I deliberately doubled the position.

How do I make the feeling the same? Interesting exercise.
 
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nooby_mcnoob said:
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How do I make the feeling the same? Interesting exercise.
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You can't. You got lucky on the direction. If it had gone the other way you'd be flogging yourself. Just let it all go, and treat tomorrow as another day, and DON'T MAKE MISTAKES!
 
Overnight said:
You can't. You got lucky on the direction. If it had gone the other way you'd be flogging yourself. Just let it all go, and treat tomorrow as another day, and DON'T MAKE MISTAKES!
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You're probably right but that's not the attitude I want. I would like to cultivate an attitude of _emotional_ indifference to decide whether to double down or not.

Looking at the chart, it's exactly the time I would want to add on to a trade anyway. Unfortunately, it also is the most uncomfortable point in the chart.
 
nooby_mcnoob said:
You're probably right but that's not the attitude I want. I would like to cultivate an attitude of _emotional_ indifference to decide whether to double down or not.

Looking at the chart, it's exactly the time I would want to add on to a trade anyway. Unfortunately, it also is the most uncomfortable point in the chart.
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...as I was uncomfortable with holding the position but turned out I doubled my short position which basically doubled my unrealized PNL...
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... You got lucky on the direction. If it had gone the other way you'd be flogging yourself. Just let it all go, and treat tomorrow as another day...
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Heed this.
 
Overnight said:
Heed this.
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Heed what? Feelings are not instructions.

I went short because of a news event. This is in my playbook. When the news event happened, I pulled up my playbook and entered at the point I was supposed to.

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The above setup has the point at which to add on to a trade. This matches exactly what happened. The recipe in the playbook also matches the reversal/exit point. That's why it's in my playbook!

I talked above about doubling down at uncomfortable spots. The psychology of it. Pit bull.

I wanted to exit tonight because I was uncomfortable. I accidentally doubled down. Which is what I'm _supposed_ to do according to my playbook. Which is what I'm _supposed_ to do according to Pit Bull.

It continued to go in the direction as expected until the rumors of no damage were confirmed.

I don't know exactly what you want me to heed. The supposed luck of it is irrelevant. The point is the feeling of discomfort should be used as a signal. I always tell my children that feelings are a signal, not an instruction. If I need to heed anything, it's this.
 
And to be clear, the point of the PSYCHOLOGY JOURNAL is not to worry about luck, profitability or anything else.

It's to work through the FEELINGS and EMOTIONS and REFLECT upon them as soon as possible.

In this case, reflecting on how I would feel "knowing I doubled down" vs exiting the trade and watching it continue in my direction as it is playbooked.
 
You know... And this is a possibility. I may have deliberately doubled down precisely because of what I said earlier today and blocked it out. I know it was top of my mind.

The psychology.... I am a pretty fucked up dude.
 
So I had a long chat w/ Overnight about the issue and during this talk it actually came to me that I did not remember making the supposed "exit". I remember the entry, and I remember exiting when I realized I had double the position but I do not remember the "exit".

This has happened to me before during where I know something happened (in this case, I added on to a winning trade, as per playbook) but I don't remember it happening.

So as best as I can put together, this is what really happened:

1. In my mind, I thought about the quote from Pit Bull that I paraphrased earlier today
2. I felt uncomfortable in the position (it was a 4-figure profit at that point, ultimately a 5-figure profit)
3. My playbook said I was supposed to add on exactly at the point where I was uncomfortable (they just happened to coincide, not that my playbook includes my emotions!)
4. I added on because of playbook and Pit Bull
5. I blacked out on adding on
6. ???
7. Profit (literally)

So as far as I can tell, it was not an accident. It was done exactly as per my playbook.

This is actually a breakthrough for me in that I seem to have mechanically gone through the playbook and added (with size) onto a successful trade but it was so traumatic due to my discomfort that my mind blocked it out.

Not sure exactly how to avoid this in the future but I suppose I will have to be more present mentally.

Suggestions welcome. Brings a new meaning to the term "blackout period" lol.
 
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