I think there were a few very good comments made in this thread.
I had massive discipline and anger issues - actually throwing shit around my office when in bad trades....Took a break, finally wrote a trading plan and decided on a very selective list of trades to follow...
I don't get angry any more.
I take every trade that fits my criteria, and accept that there is a certain amount of money that it will cost me to find out if the idea is valid.
Basically in my head I no longer have that amount of money, and I can only get it back if my idea works out....So I don't stress, and if i take a loss it is only because the market did not make the money availible to me at this very moment.....that's it.
If I take 3 losing trades in a row - done for the day.
Making it back - nah....There's nothing to make back, you ran your business and this just happened to be the day you had to pay some bills....
When the right setups come back up, I will be involved and i will make money.
Why stress.???
I had massive discipline and anger issues - actually throwing shit around my office when in bad trades....Took a break, finally wrote a trading plan and decided on a very selective list of trades to follow...
I don't get angry any more.
I take every trade that fits my criteria, and accept that there is a certain amount of money that it will cost me to find out if the idea is valid.
Basically in my head I no longer have that amount of money, and I can only get it back if my idea works out....So I don't stress, and if i take a loss it is only because the market did not make the money availible to me at this very moment.....that's it.
If I take 3 losing trades in a row - done for the day.
Making it back - nah....There's nothing to make back, you ran your business and this just happened to be the day you had to pay some bills....
When the right setups come back up, I will be involved and i will make money.
Why stress.???