Traders Block

Z

Zarrar

Hello all,

I'm pretty much new to this thread and website. I started trading about three months, it went well until I contracted the disease known as traders block. I can see opportunities happening, and I have a very good idea when to trade and when to exit, somehow I cannot shake the frozen trigger finger.

It started when somewhere in November 2000, Akamai (AKAM, NASDAQ) slid 12 points while at the same time my PC crashed. It was too late to get out of the position as AKAM had already went too deep. It eventually came back up and lived a 'happily ever after' ending. But it did leave me with less bravery. Does anyone have any clue on how to end this nightmare.

Thanks,

Zarrar
 
I would suggest implementing your system on a small scale for 2-4 weeks, until you know that the system works. Hopefully trading small with consistent profits would reduce your fears. I used this strategy a while back and after two weeks of small but consistent profits I felt very confident.

Good Luck
Dustin
 
The fact that the trauma stemmed from your computer going down means that you probably need to feel confident in the stability of your system, internet connection, etc. in order to be comfortable pulling the trigger. Whichever broker you use, you should be able to call them on the phone and place a trade if your system goes down. Therefore, you need to have your broker's number posted by your workstation or better yet on speed dial. If you get into a position and your system goes down, better to immediately call the broker and exit the position as quickly as possible until you're back up and running.

Another solution that some traders I know have(albeit a bit more expensive) is to have a backup computer and internet connection set up in case the primary one goes down. Have the second one running and ready to connect at all times while you're trading in case you need it.

Utilizing one (or both) of these solutions should help provide the peace of mind to allow you to pull the trigger.
 
Hello everyone,

Thanks for you input. I think i will get a new system. If that doesn't work then I'll have to ask you guys again if a change in psychology is the culprit. One only knows oneself the best, and I think that my traders block is less PC based at this time, and more just plain old fear. Any thoughts on handling the fear of the unkown, which in this case is a combination of the classic fear and greed syndrome. Thanks again for you thoughts.

-Zarrar
 
I should address this also by adding my 2 cents. This type of fear is more than computer based. It's psychological and very deep. I would actually recommend seeing someone, BUT that person needs to specialize in a technique known as NLP for it to have some really merit.

Robert
 
NLP is a process developed by J. Grindler and R Bandler. It's a pyschological study of modeling. It stands for Neuro-Linguistic Programming.

Most studies of psychology don't really work. Who wants to sit on a couch for 10 years to work on one issue? I would rather have one session or 3 or 4 tops and have my issue gone. IF you wanted to learn how someone got over the fear of a phobia, don't study 1000's of people with that phobia which is basic psychology. While NLP took a different step found 10 people who had that phobia and then overcame it. They then programmed people to do the same thing as those 10 people.

Where are you located? I know a few people in California and on the East Coast I can refer you to if you want to hear more about this.

email me for more info.
robtharp@home.com

My biggest edge is the fact I've removed so much cr*p from my head in term of psychological issues. My life is 1000 fold better as a result and so are all the relationships in my life.

http://www.iitm.com/course/ii03000.htm This is the website for a course that may interest you also. It was developed by my father who happen to be one of the Market Wizards. He has a PHD in psychology but feels that it was a waste of his time other than he now gets to be called Dr. It was after college when he discovered NLP that he made real progress. He developed a course not on trading but on getting to your peak performance for trading. It is 5 books and 4 cassette tapes. It will take over 3 months to do all of the exercises so be prepared. The key is to NOT skip an exercise. The ones you feel are unimportant, are what you must work on the most.

Hope that helps
http://communities.msn.com/rtharpsland
Robert Tharp

 
Great radio call in at http://www.tfnn.com
Listen live to the show or at night on the archives.
Good place to hear how to do candlestick charts and fib cals and volume analysis. Great show have listened for 3 years and it has greatly helped me to make money.
 
I think I have finally ended my frozen trigger finger. I executed a trade recenty during the last run of the three day Nasdaq rally. I took some advice from you guys, I traded small, in fact very small. I made a small amount in return, and realized that its ok, there's nothing to be afraid it. While i executed the trade, anxiety, fear and chaos over took me, but soon after 30 seconds, it didnt matter anymore, for better or worse, for the loss or gain, it was clear, that that big freeze from the last bear market of the 20th century was over. Thanks everyone for your support. Flame on, more appropriately, trade on.

 
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