Too Many Traders Are Cry Babies...

[trader99]

Do what I do: create an interface where you don't see PnL. No numbers. That really helps.

I think that might actually help. Or if I just trade purely off of PA on the chart and my chart analysis/TA. That's where I would get all of my signals. If I look at P&L or fast moving bid/ask quotes I get totally shaken out or too scared even when my analysis it totally correct.

The insanity of this is that often times I'm 1 or 2 bars from the absolute perfect entry or exit. I'm NOT trying to time tops of bottoms. But I like to minimize MAE while I'm sitting on a trade. So I try to time it very close.

And many times I would tell myself it will hit this number based on the chart. And lo behold it hit that number. But I'm not in the trade or I have gotten out already.

 

[nooby_mcnoob]

So I try to time in very close.

Same. If it doesn't move in the right direction almost immediately, I just get out. Rather take a few hits on commission+spread than the alternative of staying in a bad trade. This is where it helps not seeing the numbers.

 

[trader99]

Same. If it doesn't move in the right direction almost immediately, I just get out. Rather take a few hits on commission+spread than the alternative of staying in a bad trade. This is where it helps not seeing the numbers.

Someone with better emotional control using my same setups/edges could easily bang out $5K/day or more!

 

[nooby_mcnoob]

Someone with better emotional control using my same setups/edges could easily bang out $5K/day or more!

Stop being a pussy.

 

[speedo]

Someone with better emotional control using my same setups/edges could easily bang out $5K/day or more!

I suppose there are naturals but most of us have had to develop the discipline, focus, courage and patience to do this. If it were easy, there wouldn't be all these people on these threads insisting it can't be done. The good news is for those who do what's necessary, the process is self-elevating beyond trading.

 

[trader99]

I suppose there are naturals but most of us have had to develop the discipline, focus, courage and patience to do this. If it were easy, there wouldn't be all these people on these threads insisting it can't be done. The good news is for those who do what's necessary, the process is self-elevating beyond trading.

yes, totally agreed! That's why I'm very skeptical of the stock gurus promoting their sh*t on Youtube. So easy everyone can make millions if you buy my educational wares. Or just follow 3 simple patterns and you'll be raking in money like me too. lol.

But when you get it right the feeling of self elevation is BEYOND money! It's a form of self mastery. Especially when I time it just right. Everything lines up. I'm patient. I execute. It's so calm and soulfilling.

Only another trader would understand this feeling and sentiment.

 

[tiddlywinks]

It's a form of self mastery.

So long as you have (access to) a grubstake, it's self reliance.
You know that you know... And you own that knowledge!

 

[Wheezooo]

Thanks! Are you actively trading NG?

Nope, haven't in over a decade. Always loved natty though. Thing used to constantly get up and take the wildest walks. So many different component products as well.

 

[Wheezooo]

"Someone with better emotional control using my same setups/edges could easily bang out $5K/day or more!"

...and don't do this to yourself. Don't trade for P+L. Always trade the best you can 'inside' your comfort zone. Be thrilled you are beating the market consistently, as that is rare. The size will increase naturally with your comfort level and it will feel good. If you fuck with that comfort level all sorts of thoughts you wouldn't normally have will now begin occupying space in your brain that interferes with the thought process that is working for you.

Someone started a thread a few days ago about 'how to handle losses.' The correct thread should have been 'how to handle winning.' That's what screws up most traders. It's after big wins traders usually they take their biggest losses.

 

[MarketAddict]

You are a much better trader than me! I haven't gotten to my ideal target of $5k/day yet! I'm only pushing $1k/day average. I feel a little crestfallen the last few days of flat to small loss.

I need motivation and confidence again. It's just normal under controlled loss and flatness.

what do u do to stay motivated and CONFIDENT?

I don't stay motivated.. I create habits! Habits are stronger than motivation. Doing the same thing over and over everyday. Following your plan no matter what. Controlling emotions don't happen overnight. It comes from working on it daily.

Confidence come from getting results and knowing that you will have losing days here and there.. Do you have a well written trading plan? Did you back test your strategy? You can't be winging it. I treat this like a business. I also have a journal. I'm currently using the journal software from EdgeWonk. You have to track everything.

Write down all of your bad habits. Also, are you trading too big? That will mess you up too..