What do you guy's do to prevent tilting?

[Scataphagos]

2 things that could put a trader on tilt....

1. Trading "willy-nilly"... short this, now long that, yada yada.... hoping to get lucky.

2. Understanding Price TA, being disciplined about executing reasonable/proper strategies and stringing together a bunch of losers anyway... That's most likely because you're trading with the "wrong bias". When the market is psycho-bullish, you need to skew your actions to the long side... like "buying the dip". When the market is psycho-bearish, you need to skew your actions to the sell/short side.. How can you tell? In a bullish market, supports hold and resistance breaks. In a bearish market, resistance holds and supports break.

 

[speedo]

Trading is a profession where having discipline is not an option...either have it or fail. If you don't have it, develop it. How badly do you want to succeed?

 

[easymon1]

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.

Do you keep an error log?
Write it down when and how you fail to follow the plan.
Now you can practice 'what gets measured gets done' when you tally up the transgressions.

 

[spy]

Tilt may not be a problem

You're right @murray t turtle! The player's supposed to push the machine around a little to juice the score, right? Just don't push so hard that the sensor goes off and it starts pushing back!

 

[murray t turtle]

You're right @murray t turtle! The player's supposed to push the machine around a little to juice the score, right? Just don't push so hard that the sensor goes off and it starts pushing back!

%%
LOL a SPY skilled ''player'' in pinballGamebird shooting also helps a bit.
Back to original question ''revenge trading''?? IF i do that\ it means i dont look @ much price data much ; or wrongly think markets are like a get rich quick lotto.
Like Dave Ramsey says a ''lotto is a stupid tax on people that cant do math''
I keep a trade notebook; yes it has[profits] gains + losses/ unrealized + realized

 

[Specterx]

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.

Just stop it. If you can't control yourself then you can't trade.

 

[FTDK]

Just stop it. If you can't control yourself then you can't trade.

Self control can be learned, giving up when something doesn't go your way from the get go doesn't seem a good strategy to achieve something in life ...

 

[Leob]

Play a lot for small amounts and you will acquire the right behavioral attitude

 

[Businessman]

If you are revenge trading, you are probably not emotionally suited for the type of trading you are doing.

eg. If you are day trading you might not be suited to day trading, try a longer time horizon for your trading instead.

Or you could try fully automated day trading instead. Although thats not easy either, you have to find a good backtested edge that is not curve fit. Can take years of research to find something good.

 

[schizo]

"Tilt"? Sounds like you're a poker player. Got news for you... virtually zero correlation between market trading and poker. (Lots of noobs believe there is strong correllation... they are wrong.)

So you don't believe in PROBABILITY??????????????

Ya such a noob.