What do you guy's do to prevent tilting?

[TheDawn]

I was wondering what you guy's all are doing to preventing yourself from tilting, or from trowing the trading plan and risk management rules overboard during a tilt?

I myself find it very difficult to stick to my plan once I have a few bad trades, I am very vulnerable to tilting and revenge trading even though I know i have a solid system with statistics to back it.

Once I have a few bad trades in the beginning of the day I start doubting, deviate from the system and when that goes wrong it only get worse resulting in (very) bad losses.

What I am currently trying to do is entering a trade based on the signals my trading system gives me, set the stops and targets accordingly and leave it at that, don't touch it again unless my system gives me a reverse signal.

I am thinking about getting a darts board to hang near my desk, so I can get up from my desk and focus on other things while in that trade instead of focussing on everything that could go wrong.

I bet there are a lot of you out there who (have) struggle(d) with the same issue and I am hoping you are willing to share some of the things that work for you.

The reason why you deviate from your trading plan is because you don't have enough confidence in it. So do more backtesting to confirm its profitability and once it's confirmed, I guarantee you you will have no problem following it.

Take a few days off from trading to recover psychologically from the losses. Once the emotion has worn off, when you know you can face your losses again, go back to your losses and analyze the losses for what they are and find out what led to the losses. And then go back to the drawing board to rework your trading plan if needed.

 

[FTDK]

What kind of system do you have? If you are using only the typical TA indicators, it's not at all difficult to program. Most of the difficulty isn't with the actual entries but other ancillary stuff like risk and time management.

Anyway, you should really look into getting it automated if you have problem controlling you emotions.

I only use 1 indicator and it stands for only a small percentage of the system.

80% of the system will be reasonably easy to automate, it's that last 20% that worries me and for now I have no idea how to do it or how to get started.

But I am going to give it my best shot, Ninja, which I already have, seems like a good platform to give it a go, so I'll start tomorrow by doing as much research as I can.

 

[semperfrosty]

HOGWASH!

I've always struggled to reconcile this one too.

 

[lindq]

The reason why you deviate from your trading plan is because you don't have enough confidence in it. So do more backtesting to confirm its profitability and once it's confirmed, I guarantee you you will have no problem following it.

Well said.

All the time spent wallowing in B.S. about trading psychology comes down to a simple question: Is your strategy a proven winner, or a loser?

And if a trader has doubts about the answer, the result will always be discord and distress.

 

[schizo]

There's possibly another way of handling the issue.
Imagine everytime you are trading, you are not trading from home but trading at work, you are being paid by the boss to perform.
If you don't perform, you are highly likely to be let go, the boss taps you on the shoulder and says "Aaah excuse me but I'd like to have a word with you in my office about your performance".

When you're trading, put yourself under pressure to shape up or ship out.

But then again, too much stress/duress ain't good for trading. You need to be more relaxed IMO.

 

[FTDK]

Well said.

All the time spent wallowing in B.S. about trading psychology comes down to a simple question: Is your strategy a proven winner, or a loser?

And if a trader has doubts about the answer, the result will always be discord and distress.

The answer is in my opening post.

 

[tomkat22]

But then again, too much stress/duress ain't good for trading. You need to be more relaxed IMO.

That's what I tried to convey in both my posts.

 

[GotherL]

I myself find it very difficult to stick to my plan once I have a few bad trades, I am very vulnerable to tilting and revenge trading even though I know i have a solid system with statistics to back it.

Bad mentality will always put you in a loophole so that you always end up losing.

I've been thru that shit.

Change your mentality/discipline and you be successful even as an average trader.

 

[FTDK]

Change your mentality/attitude and you be successful even as an average trader.

That's exactly what this thread is about and what i have already recognised.

But that's easier said than done, that's why i am out here asking for advice and tips.

 

[GotherL]

But that's easier said than done, that's why i am out here asking for advice and tips..

Well, I am not you nor am I life coach so that's all I can do.

Personally, I quit video games, smoking and limited my internet usage.

It allowed me to stay more focus and discipline while trading.