you may have a false mental outlook about yourself,for instance "i understand the market",this could fool you into trading what you think rather than what you see. A very rare personal opinion for an adult would be "i don't have a clue",this attitude would require you to admit and except when your wrong which is better than 50% acccording to your originaI post, most traders are wrong more often than right,admitting it and cutting your losses is a trading skill which requires you to be mentally clear and swift,it's easier to just use stops,but in the meantime write down what you were thinking before the opening,why you took the trade,why you got out of the trade,all the reasons . At the end of the day review this and see where you might adjust the mental process,sorta speed line it and take out all the emotions and whatif.s and because's,all the excuses you made after .Just trade on pure market data in front of you.That sounds simple but it might be easier to build a rocket. Good luck.
Why is it So Much Easier to Lose than to Win?
- Thread starter Flashboy
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Triple on bad days?! Damn all you need is somebody to secretly short the stocks you want to buy and buy back when you want to sell. See if your broker can't make your buy botton say short and your short button say buy. This may sound funny but i would give it a try except for the button changing. How do you do this, i don't know? If you have the ability to constantly fail all the time you could make something out of it.
Thus, losing day trades are mentally reassigned to "swing trade" status. Swing trade losers become "position trades". Equity curves take on a negative slope...
But, DAMMIT - THIS TRADE IS GOING TO END UP A WINNER!!! (no matter how long it takes) :eek:
whether he trades what thinks or what he sees, all is right.
I would strongly suggest: trade based on what he thinks and what he sees, not just purely technically, that will create too many trades and many trades will be either or ones!
if you do not have a fundamental reason, do not trade, after you have it then based on your fundamental reason, look and wait for the right moment to come (technically), in that way, you will put yourself in 90% winning situation! the good thing is since you have a fundamental reason, you are very confident about your position, so even the positions does not really work, you end up still making some or losing a little, if you do not have fundamental reason, you most likely get shaken out, after the loss, you feel you want to get in again or start to do average down those revenge for sure to lose game.
I would strongly suggest: trade based on what he thinks and what he sees, not just purely technically, that will create too many trades and many trades will be either or ones!
if you do not have a fundamental reason, do not trade, after you have it then based on your fundamental reason, look and wait for the right moment to come (technically), in that way, you will put yourself in 90% winning situation! the good thing is since you have a fundamental reason, you are very confident about your position, so even the positions does not really work, you end up still making some or losing a little, if you do not have fundamental reason, you most likely get shaken out, after the loss, you feel you want to get in again or start to do average down those revenge for sure to lose game.
The biggest problem for me, I daytrade the ES, is failing to follow the two most important rules of trading:
1. Cut losses short
2. Let profits run
I have gotten very good at following Rule 1. Woking hard on following Rule 2. Rule 2 is hard because you just hate to let a little winner become a little loser.
1. Cut losses short
2. Let profits run
I have gotten very good at following Rule 1. Woking hard on following Rule 2. Rule 2 is hard because you just hate to let a little winner become a little loser.
This is from my blog
http://tradepilotpro.blogspot.com/
Catching Bottoms and Tops
Ok, ill let you in on a really big trade set-up I use
READY
Look at where the market was and look at where it is going, you can not break this rule under any circumstance!
Ok now that you did that.
Place a trade in the direction that it is going, this is where it gets hard, it is kind of like seeing the âforest through the treesâ
After you place the trade, now I mean after you start to make money, this is where it getâs even harder to do (staying in the trade)
You see we all want to be right and prove the market wrong, and say I got the bottom tick and this is a very scary thing to do
But we will risk everything to do it so we can justify our hard work and time we spent studying the markets
and if you do actually get the bottom tick, it will be nothing more than (POSITIVE RENFORSMENT OF DISTRUCTIVE BEHAVOR)
DONâT WORRY YOUR NOT ALONE.
The sad part of this is that it is a terminal disease traders never recover from, trying to catch a top or bottom in any market or stock will ultimately end up in ruin for all traders,
please understand THIS IS A LOSERS GAME, in fact it has nothing to do with trading at all it has do with our Lack of self worth and our own perception of how we judge ourselves, we want to be right more than we want to make money.
So when you are trying to call market tops or bottoms take a moment of pause to âTHINKâ why am I doing this, is it to make money ? or prove something to myself or someone else.
Just my 2 pennies
Take Care,
Joe Baker
Trading takes more than just knowing where the market is
headed
Lots of discipline and money management , actually more than a lot it takes a boatload of it
http://tradepilotpro.blogspot.com/
Catching Bottoms and Tops
Ok, ill let you in on a really big trade set-up I use
READY
Look at where the market was and look at where it is going, you can not break this rule under any circumstance!
Ok now that you did that.
Place a trade in the direction that it is going, this is where it gets hard, it is kind of like seeing the âforest through the treesâ
After you place the trade, now I mean after you start to make money, this is where it getâs even harder to do (staying in the trade)
You see we all want to be right and prove the market wrong, and say I got the bottom tick and this is a very scary thing to do
But we will risk everything to do it so we can justify our hard work and time we spent studying the markets
and if you do actually get the bottom tick, it will be nothing more than (POSITIVE RENFORSMENT OF DISTRUCTIVE BEHAVOR)
DONâT WORRY YOUR NOT ALONE.
The sad part of this is that it is a terminal disease traders never recover from, trying to catch a top or bottom in any market or stock will ultimately end up in ruin for all traders,
please understand THIS IS A LOSERS GAME, in fact it has nothing to do with trading at all it has do with our Lack of self worth and our own perception of how we judge ourselves, we want to be right more than we want to make money.
So when you are trying to call market tops or bottoms take a moment of pause to âTHINKâ why am I doing this, is it to make money ? or prove something to myself or someone else.
Just my 2 pennies
Take Care,
Joe Baker
Trading takes more than just knowing where the market is
headed
Lots of discipline and money management , actually more than a lot it takes a boatload of it
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