The most common psycholgical challenge people encounter when trading

I think it was last fall there was an article in the mag
tech analysis of stocks and commodities and the author wrote about ten baggers. Seems he had a screen that started with doubles. I thought it was quite interesting (should have bought the mag).

I hear ya on the mastercard ipo, never bought it, always seemed out of reach but still watching it. OTH have some PRU at 30 and added at 74 talk about a stretch. Eh, once in awhile you have to reach out.
 
What can you do to overcome this obstacle?, i have had the same challenge in the past, as long as i have clearly defined my exit price and the stock is in a nice upward leg i have made some good returns from buying stocks on new highs. I found reading the charts and not listening to my emotions was a huge break through for me.:)
 
Quote from Steve Tvardek:

Martin you are new here, welcome. Just be VERY careful not to try and sell anything on here if you are not a sponsor. Not only will you be ridiculed to the max but most likely banned as well. That being said, I'd be interested in hearing more about your experiences.
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Thanks for the welcome Steve:)
 
Quote from MartinT:

I became an NLP Master Practitioner (Neuro Linguistic programming) I then become aware of the messages my emotions were giving me, rather than spiralling into procrastinaton. I also had the skills to interview and model myself on a very successful ex-floor trader. Since I've implemented my new skills i have achieved consistent profits.
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Martin,'


How do we reprogram ourselfs or our messages ?
 
Quote from ByLoSellHi:

Biggest psychological obstacle for me?

Buying stocks at new highs, and especially when they've had a 100 or 200% run.

Classic example of this for me is Mastercard. I could have bought it at $60, after it ran up from $40 at its IPO.

Well, I didn't. I said to myself: "Self, I'll be damned if I'm buying a stock that has run up 50% in 3 months."

It's at $109 today. Will I buy it now? Good question.

If you're going to make large $$$, not being willing to purchase stocks making new all times highs can keep you penned in to conservative, value stocks, that rarely have outsized performance.
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Best stock, from a comfort/opportunity for growth stock I've ever bought was one of those. It was originally PXHB(otc) at $1.05 and I didn't buy...started buying at $1.60 or so....it's on the Nasdaq now(PRXI) and is a $9 stock now and is one of the best investments I've ever made and probably will ever make.

I would add shares to this day for the long term....but alas I have other investments! :D

Yes, buying stocks that have already gone up is hard...but buying into a trend is a great way to buy.
 
Quote from vanquish:

Martin,'


How do we reprogram ourselfs or our messages ?
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You can use daily affirmations or define the new behaviour you feel will serve you better and ask yoiu subconscious if its willing to try this new behaviour not forgetting to thank your subconscious for how its been trying to protect you. Our mind is always trying to help or protect us sometimes the behaviour it uses does not serve us well!
 
Quote from MartinT:

You can use daily affirmations or define the new behaviour you feel will serve you better and ask yoiu subconscious if its willing to try this new behaviour not forgetting to thank your subconscious for how its been trying to protect you. Our mind is always trying to help or protect us sometimes the behaviour it uses does not serve us well!
More...


Martin,

Can you please give a example of a daily affirmation that I can use for trading?

Thanks
 
Sorry about the delay i've been traveling, an affirmation i use is "i'm a confident and ruthless trader" affirmations alone will not change your habits but when used with other techniques they will have a dramatic effect on your trading
 
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