Pulling the trigger

[Wallace]

with all due respect to the 'try this . . . try this . . . try this' posts

the best solution to your problem is have a hypnotist-psychologist treat you
it's common for them to have traders, money managers as clients
some hypnotists have psychology degrees, some don't
alternate is an NLP therapist who Has worked with traders

use Yellow Pages to do a search, phone and speak with the therapist directly
ask how many traders have they treated, how do they determine what may be
causing a trader's problem, what's his/her success rate, what their hourly rate
and/or course of treatment is
google their name to see if you can find additional info about them

NLPs are not known as trader therapists but some may have experience

 

[Redneck]

Quote from Sayid:

RN,

5/5 trades went + after returning to my old system. I am not trying to impress you.



My problem is that System A was profitable, I tried to improve upon it by creating System B. System B was more like 4/11 trades + and the negatives were larger than the positives. At this point I scrapped System B. I went back to System A and have been profitable since. I was confident with the original system, the confidence has been rattled by System B's failure. I need to regain confidence so that I can resume using System A.

Sayid

Never crossed my mind that you were



What specifically is making you scared/ hesitant

Personally I don’t think it stems from system B losing… I do think it runs deeper than that

But then what do I know


RN

 

[Tonkadad]

Quote from Sayid:

RN,

5/5 trades

4/11 trades

If those are the amount of trades you are basing your decisions off (keep plan A discard plan B) of, you have to small of a sample size.

Read this post from Big Money

http://www.elitetrader.com/vb/showthread.php?postid=2943652

 

[deadbroke]

Quote from Sayid:

I have an issue perhaps you can help me with. I've been a successful trader, then recently I have had a string of consecutive bad trades as I tried to tweak my system. The losses were not devastating, but enough to plant a seed of doubt.

I have since returned to my old system. Before.. with the old system I could pull the trigger on a trade with confidence and be profitable. Now that I have returned to it, I have found trouble entering a trade. I have seen many setups come and go without me getting in. It makes me picture a starving grizzly bear standing by a stream, watching the salmon swim by, and not reaching in and getting what could be mine. I have forced myself to make trades since switching back, and the trades have been profitable (5/5) . I know the system works, it is just so difficult getting back to my prior comfort level.

The trigger is not supposed to be pulled, dummy. Try a gentler albeit repetitive technique

 

[murray t turtle]

Quote from Sayid:

I have an issue perhaps you can help me with. I've been a successful trader, then recently I have had a string of consecutive bad trades as I tried to tweak my system. The losses were not devastating, but enough to plant a seed of doubt.

I have since returned to my old system. Before.. with the old system I could pull the trigger on a trade with confidence and be profitable. Now that I have returned to it, I have found trouble entering a trade. I have seen many setups come and go without me getting in. It makes me picture a starving grizzly bear standing by a stream, watching the salmon swim by, and not reaching in and getting what could be mine. I have forced myself to make trades since switching back, and the trades have been profitable (5/5) . I know the system works, it is just so difficult getting back to my prior comfort level.

===========
Congrats on the 5/5 trades, Say-i .{not sure if thats 5 trades or 5 years, but congrats anyway}
Frankly, & kindly, i say;
dont pay so much atention to your emotions.

Of all the things i could write about profitable trading;
''comfort ''would not be anywhere near @ top of the list.

As a matter of fact my guts stiil, after decades , tend to try to get be out way too early in a trend. dosent mean i ignore my gut;
it simply means comfort is easier in a goose down jacket -than profitable trading. Thats wisdom .

Remenber the rule of 72;
work 6 days a week, 72 hours a week+/,,,,,,, do that for 7.2 years... Live long & prosper.

 

[Sayid]

Many thanks for the responces. Years ago I kept a trading journal. I have begun a journal again. It is proving helpful. I am also back to System A and see no reason to deviate now.

I should clarify that the positions I take can last from hours to days. So when I say 5/5 trades, this is not like many who trade 5 times in 20 minutes.

 

[NoDoji]

Quote from Sayid:

I should clarify that the positions I take can last from hours to days.

Sayid, I have three questions for you:

1. Do you place hard protective stops on your trades?

2. Do you ever average down?

3. Do you ever trade counter to the prevailing trend in your chosen trading time frame?