The day to day psychology of a trader

S

smallStops

It seems that titles wordings are important.

I will be continuing my trader journey, via tracking my psychology day to day,
and thus describing what are the sources of any psychological thoughts.
 
Just a recap :

the analysis of psychological stress for a trader, the causes of these
( 5 years of group mobbing, harassment by proxy, etc...)
were amply examplified in these previous threads

Part1
http://www.elitetrader.com/et/index.php?threads/spirituality-videos.259035/

Part2 ( 85 000 views, 300 different ip/week)
http://www.elitetrader.com/et/index.php?threads/spirituality-videos-part-ii.266315/

So here we change the title to make sure that - even myself who is
now teaming up to open a psychological coaching company for traders and al -
the reader understands :
* events do influence the psychological state of a trader
* the psychological state can not be understand without knowing
what events are occuring
* the psychological state can not be understood without a description
of these events : the description allowing to uinderstand why the
psychological thinking patterns are different for a specific trader,
while it could have been different for another one.

Feel free to PM, should you have any upset - this is what understanding
one's psychology is all about: self-honesty , specifically for
deeply psychological uncomfort.
 
oh man, I go through days and weeks and sometimes months where that's all I do everyday. Just lose money. I make a little but I lose much more. That can go on a long time, and then it is just a matter if you have properly counted just how magnificently bad your luck can be.

But if you survive, you have properly counted the cost

If you win? well, isn't that just a matter of luck?
 
:eek::eek::D:D:D:rolleyes::rolleyes::rolleyes::):):)

The psy "shop" is not opened yet! But one is already queuing!
Damn.

Loyek590 : May I suggest you buy yourself a notebook.
On each page you list/describe when you lost money :
specially in childhood. Imagine a situation, where , as a kid, one actually
lost some money, but got a great reward for it.
Do you then feel that as an adult trader, one'd love to recreate the same
feeling?
There are many reasons for losses.
 
Last edited:
if your first bet was a winner you are a gambler for life.
if your first bet was a loser, "Screw me once....and we aint going to get fooled again."

Like the man said, "Once a cat sits on a hot stove, it will never sit on a hot stove again. Or, a cold stove for that matter."
 
smallStops said:
When filling your notebook, precise situations where you said to yourself
you were gambling.
More...
after I get it all on, and I know for as close to certain as I can be what my risk is, after that it is just a matter of luck. I would like to think I am a good reader of the market, but probably I am just a 50% guesser.
 
I fixed my averaging down issue, by reducing my Margin to 50:1 then trading at 90%+ of that, so 45:1 area margin used, can only trade 1 trade at a time, problem solved.

Max Loss, if I get carried away moving the SL is also my Margin call, which is pretty close.

Sometimes, you've just go accept you can't beat the issue and cheat :)
 
loyek590 said:
If you win? well, isn't that just a matter of luck?
More...

No such thing as LUCK, but if your profits are just random chance, then your method isn't real, you'd likely be better off with a coin flip.

Obviously not all trades will win even with a great method, but more should win than lose and also the profits should be greater on average than the losses, on average.

If not, keep searching and working on a method which works for you.
 
From my experience, when one is determined to lose money, no matter the tricks and guards put in place, the person will find other ways to lose money (overtrading, etc...).
So it is better - but much more difficult - to get to the root cause and heal whatever caused the problem.
 
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