Suggestions for Keeping Calm and Relaxed
- Thread starter lokkeilaw
- Start date
I will just speak for myself
I remember trading without a test strategy. I remember selling 200 strangles, bracketing the market, but not having a well thought out stop loss point. I remember kneeling on the floor, watching the ticks, on expiration day, hoping that I would not get hit. Terrible feeling.
Now in contrast, I have backtested every strategy that I trade, and I know what to expect from the moment the market opens to close of day. I still feel a bit of excitement when I put on size, but basically its a job now, and I am no longer affected the same way. I wait for signals, put on positions or take them off, and do my homework at the end of the day. The rest is bookkeeping. I can watch the screen or automate my stops and walk away. Once I was truly prepared to trade, it became a different life.
I think you have to make a couple of decisions.
"How do I want to feel about my work?"
"Am I willing to do the work necessary to be properly prepared to trade?"
If you can resolve these issues, and follow through with the homework, you will find you are in control. If you follow that discipline you will eventually find that this is a job just like any other. This is the basic difference between professionals and retail traders.
Good luck
Steve
I remember trading without a test strategy. I remember selling 200 strangles, bracketing the market, but not having a well thought out stop loss point. I remember kneeling on the floor, watching the ticks, on expiration day, hoping that I would not get hit. Terrible feeling.
Now in contrast, I have backtested every strategy that I trade, and I know what to expect from the moment the market opens to close of day. I still feel a bit of excitement when I put on size, but basically its a job now, and I am no longer affected the same way. I wait for signals, put on positions or take them off, and do my homework at the end of the day. The rest is bookkeeping. I can watch the screen or automate my stops and walk away. Once I was truly prepared to trade, it became a different life.
I think you have to make a couple of decisions.
"How do I want to feel about my work?"
"Am I willing to do the work necessary to be properly prepared to trade?"
If you can resolve these issues, and follow through with the homework, you will find you are in control. If you follow that discipline you will eventually find that this is a job just like any other. This is the basic difference between professionals and retail traders.
Good luck
Steve
I hate HDI, I always get burned.
become a human zombies
check this out
http://www.publicradio.org/tools/media/player/kpcc/news/features/2005/12/20051221_features10
check this out
http://www.publicradio.org/tools/media/player/kpcc/news/features/2005/12/20051221_features10
What works for me is listening to relaxing music such as classical music or smooth jazz.
What definitely does NOT work for me is watching CNBC or listening to other Financial Radios. During day-trading I also avoid any chat-room. All those things do not contribute to providing the right trading environment, as I lose my focus and can be distracted/distorted.
What definitely does NOT work for me is watching CNBC or listening to other Financial Radios. During day-trading I also avoid any chat-room. All those things do not contribute to providing the right trading environment, as I lose my focus and can be distracted/distorted.