Stop Trading - Shut Down For the Day

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ps0013

I have just decided to put myself on a Stop Trading $$ amount for each day. It seems like on certain days when I am not finding the correct entry & exit point and I have a number of negative trades it snowballs to a day of a large loss. If in these cases I had taken a 50% loss of what I ended the day with, it wouldn't have been so bad. And then when the sun comes up in the morning and it is a new trading day my vision is clear again. I think I make those bad days worse when I tell myself "don't stop trading, if you want to be a good trader you have to work through these bad days...but I think there is something to "live to trade another day".

Anyone want to contribute on if they have a "stop" for the day...
 
Until my income relies on trading and I can do it successfully. Until then I continue to make the adjustments needed to get me to that point
 
By the law of averages, some trades will be losers. But suspending trading makes it seem like these were errors or were not allowed for in the planning stage or went to unexpected depths of loss. Surely these things can'st be right? So why stop trading?
 
ps0013 said:
Until my income relies on trading and I can do it successfully. Until then I continue to make the adjustments needed to get me to that point
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correct

but income is not the only factor

the fact that you feel under pressure is indicative that you are not there yet

its like being in the rocket that trying to take off - tremendous pressures overcoming the gravity forces (archiving the first cosmic escape velocity) are on the astronaut and the rocket...

but once you are in orbit all of this is behind
 
I use a time delay, like if I get 2 losses in a row, the area is not cycling to my systems, so software delays for 20-30 minutes and bar range distance can't exceed so many ticks, then program resumes taking trades.
 
Handle123 said:
I use a time delay, like if I get 2 losses in a row, the area is not cycling to my systems, so software delays for 20-30 minutes and bar range distance can't exceed so many ticks, then program resumes taking trades.
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I like a time delay and I thought about something along those lines. I think I am going to try the current DAY-STOP that i am using and once I feel more comfortable with the risk control of the day cycle I will try a trading time delay.
 
tomorton said:
By the law of averages, some trades will be losers. But suspending trading makes it seem like these were errors or were not allowed for in the planning stage or went to unexpected depths of loss. Surely these things can'st be right? So why stop trading?
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The other half of the formula is that with a number of losses under the belt for a given day, I have increases in trade size (to catch up) so losses end up exponentially larger.
 
ps0013 said:
The other half of the formula is that with a number of losses under the belt for a given day, I have increases in trade size (to catch up) so losses end up exponentially larger.
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Forgive me for saying this, but yes I thought you might say that.
What makes you think you need to "catch up" so that you make money each and every day?
 
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