The Invisible Hand That Limits Your Trading
- Thread starter Rande Howell
- Start date
I have been at this so long that I am struggling to come up with an example of why therapy is unnecessary to successful trading. I think it's fine for personal satisfaction in other than trading. Especially if you want to get early parole.
But here is an example of building confidence through simple analyses repeated daily. Attached is my chart for my position trades, plus some market data. I look at it a few times a day for at most 20 seconds. Got it. Move on. Why is it easy? Because I have been doing it forever, and the analysis tool I use isn't half bad. Get a good thing going. Use it. It becomes routine. "Oh, rats! Oil is taking a hit! But it's not in the toilet! Back to trading!"
But here is an example of building confidence through simple analyses repeated daily. Attached is my chart for my position trades, plus some market data. I look at it a few times a day for at most 20 seconds. Got it. Move on. Why is it easy? Because I have been doing it forever, and the analysis tool I use isn't half bad. Get a good thing going. Use it. It becomes routine. "Oh, rats! Oil is taking a hit! But it's not in the toilet! Back to trading!"
Quote from BSAM:
Bingo, bingo, bingo!
I am bipolar. Have OCD. Tourette's. Free-floating hostility. Paranoia. Social phobia. Antisocial personality. Panic attacks. Alcoholic. All verging on Borderline Personality. I am as bad a basket case as it gets. But I make money! And I shoot passably.
Somebody start a challenge thread! Welcome to ET!
Just to make clear I wrote 'almost' impossible.
Red, I can only speak from experience as is a long story. If you guys want me to the the guinea pig for the counseling I would be more than happy to present my case and latest conclusions.