Trading Psychology : Admission time, and a question or two :(

Trading is often about how to take the appropriate risk without exposing yourself to very human flaws.
Post Reply
stueytrader
Posts: 243
Joined: Tue Dec 15, 2015 6:47 pm

Mon Sep 11, 2017 11:09 am

I also like the idea of someone objectively observing me - unfortunately, not sure I have anyone available to do that. Maybe I'll record myself sometime, I know some do that.

User avatar
LeTiss
Posts: 4168
Joined: Fri May 08, 2009 6:04 pm

Mon Sep 11, 2017 11:46 am

The last time I went 'In Play' was New Years Day 2008 - I lost £2000

I printed the disastrous trade off, and pinned it to my wall.

From that moment on, I was constantly reminded what can happen when you don't 'red up' a bad trade - after a while, it all become second nature and I've never let a bad trade go 'In Play' since. I would never have made it to self-employment if I hadn't done that

stueytrader
Posts: 243
Joined: Tue Dec 15, 2015 6:47 pm

Mon Sep 11, 2017 11:58 am

LeTiss wrote:
Mon Sep 11, 2017 11:46 am
The last time I went 'In Play' was New Years Day 2008 - I lost £2000

I printed the disastrous trade off, and pinned it to my wall.

From that moment on, I was constantly reminded what can happen when you don't 'red up' a bad trade
Yep, I've heard that trick mentioned a couple of times before - stick up your worst memory/trade and it will keep it in mind, and hopefully stop you even thinking about repeating it. There is an interesting issue in making the denial of our poor behaviours something that is second nature as you suggest. That way it is less an active task to prevent poor behaviours/choices, rather just make it implicit that these don't cross our minds at all as an option - I hope to achieve that level of mental control one day!

Halliday
Posts: 327
Joined: Sun Jun 12, 2016 3:40 pm

Mon Sep 11, 2017 1:10 pm

stueytrader wrote:
Thu Sep 07, 2017 7:22 pm
to75ne wrote:
Thu Sep 07, 2017 5:33 pm
this topic and been covered many times and by many people who have faded away.
I do know the idea of control generally is a repeated area yes, though I'm more wondering what some may have used as very specific strategies/behaviours, and specifically on the staking side of the coin.

I realise going on tilt as a wider issue is something that is common in this area.
Tend to agree that this topic has been covered many many times on here , and all the info you think you might need is in those threads .But I suspect Stuey the simple fact is that "trading " for whatever reason just isn't for you.

Despite all the Psychology you quote , I suspect the simple fact is that maybe your just no good at it, it may seem harsh but we've been here so many times with other posters. So your probably just kidding yourself that you can succeed

I've said it many times that people tend to overcomplicate things , or blame various factors ( fatigue among many others being one of yours ) for their own failings .

Keep it simple, protect your bank, and enjoy ..

stueytrader
Posts: 243
Joined: Tue Dec 15, 2015 6:47 pm

Mon Sep 11, 2017 2:20 pm

Halliday wrote:
Mon Sep 11, 2017 1:10 pm
stueytrader wrote:
Thu Sep 07, 2017 7:22 pm
to75ne wrote:
Thu Sep 07, 2017 5:33 pm
this topic and been covered many times and by many people who have faded away.
I do know the idea of control generally is a repeated area yes, though I'm more wondering what some may have used as very specific strategies/behaviours, and specifically on the staking side of the coin.

I realise going on tilt as a wider issue is something that is common in this area.
Tend to agree that this topic has been covered many many times on here , and all the info you think you might need is in those threads .
If you 'reduced down' some of the more general descriptions/discussion to specific behaviours then possibly yes, (I know there's some good postings related to the area) - that's essentially what I'm asking about.

ps. I know there's the possibility (with any trader) that they're 'not good enough', and I'm more than aware that could apply to me. But this has been a refreshing project since I originally posted, for my mindset and trading experience. I've even managed to not let some 'potholes' affect me recently, which in the past would have stopped me. I've traded long enough to know whether I'm any good at the meat and drink of the trading process, so that's not my main worry - my psychology has been though at times, and that is what I'm currently dedicated to working on. So far, so positive.

User avatar
gutuami
Posts: 1559
Joined: Wed Apr 15, 2009 4:06 pm

Tue Sep 12, 2017 12:06 am

there are two quotes that I like a lot:
1. If you keep on doing what you’ve always done, you will keep getting what you’ve always gotten
2. Whether you think you can, or you think you can't--you're right.
― Henry Ford

Derek27
Posts: 2002
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

Tue Sep 12, 2017 12:38 am

Whenever I've been through a bad trading patch, the one thing that keeps my confidence up is looking at my accounts.

I've had the odd losing month, but never a losing quarter, nevermind year, which makes me feel I've been here before but still ended the year with a worthwhile profit.

If you ever reach the stage where you're making a long term loss, that's the time to either quit or trade with minimal stakes/capital until you find you're making a consistent profit again.

Bluesky
Posts: 416
Joined: Mon Sep 19, 2016 9:26 pm

Tue Sep 12, 2017 8:10 am

Derek27 wrote:
Tue Sep 12, 2017 12:38 am
If you ever reach the stage where you're making a long term loss, that's the time to either quit or trade with minimal stakes/capital until you find you're making a consistent profit again.
I like this, it can be easy to fool yourself either on the up side or down side but the bottom line doesn't lie.

stueytrader
Posts: 243
Joined: Tue Dec 15, 2015 6:47 pm

Tue Sep 12, 2017 9:25 am

gutuami wrote:
Tue Sep 12, 2017 12:06 am
there are two quotes that I like a lot:
1. If you keep on doing what you’ve always done, you will keep getting what you’ve always gotten
2. Whether you think you can, or you think you can't--you're right.
― Henry Ford
Like the quotes - for number 1 I see there's a good implicit issue of 'change'. Not easy, but perhaps essential to improving results.

stueytrader
Posts: 243
Joined: Tue Dec 15, 2015 6:47 pm

Tue Sep 12, 2017 9:28 am

Bluesky wrote:
Tue Sep 12, 2017 8:10 am
Derek27 wrote:
Tue Sep 12, 2017 12:38 am
If you ever reach the stage where you're making a long term loss, that's the time to either quit or trade with minimal stakes/capital until you find you're making a consistent profit again.
I like this, it can be easy to fool yourself either on the up side or down side but the bottom line doesn't lie.
I had about a year of profit, and I actually posted on here the question of how long is enough to judge - sadly my latest year is not in profit. But I'm aiming to revert back to the earlier year! There is something of a question of time-spans in judging success too - a piece of string kind of question, but the aim to use longer views of profit/loss is good I agree.

Post Reply

Return to “Trading Psychology”

  • Information
  • Who is online

    Users browsing this forum: No registered users and 2 guests