Trading Psychology : What, if anything, tempts you into reckless behaviour?

Trading is often about how to take the appropriate risk without exposing yourself to very human flaws.
FrogThimble
Posts: 124
Joined: Mon Dec 11, 2017 6:26 pm

Sat Aug 11, 2018 5:07 pm

Euler wrote:
Sat Aug 11, 2018 4:26 pm


Women have historically tempted me into reckless behaviour
Ah, I know that feeling... no cure for that... ;)

Jukebox
Posts: 549
Joined: Thu Sep 06, 2012 8:07 pm

Sat Aug 11, 2018 5:09 pm

Derek27 wrote:
Sat Aug 11, 2018 5:02 pm
Euler wrote:
Sat Aug 11, 2018 3:44 pm
Women?
:lol: Funny how after reading a few posts you easily forget the title of the topic!
...and worse, how quickly we assume we're getting insulted

foxwood
Posts: 201
Joined: Mon Jul 23, 2012 2:54 pm

Sat Aug 11, 2018 6:13 pm

FrogThimble wrote:
Sat Aug 11, 2018 3:16 pm
I've noticed one dangerous trait in my own trading behaviour. It seems that, psychologically, I am willing to accept any loss on any trade except for a loss that more than wipes out the day's profits so far. When that happens I tend to get frustrated and either up my stakes or try a full on gamble in the next event.
In the settings menu hide the balance - simples as long as you don't peek :D

FrogThimble
Posts: 124
Joined: Mon Dec 11, 2017 6:26 pm

Sat Aug 11, 2018 9:14 pm

foxwood wrote:
Sat Aug 11, 2018 6:13 pm
FrogThimble wrote:
Sat Aug 11, 2018 3:16 pm
I've noticed one dangerous trait in my own trading behaviour. It seems that, psychologically, I am willing to accept any loss on any trade except for a loss that more than wipes out the day's profits so far. When that happens I tend to get frustrated and either up my stakes or try a full on gamble in the next event.
In the settings menu hide the balance - simples as long as you don't peek :D
I'd still be doing the mental arithmetic though. :D

Derek27
Posts: 4559
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

Sat Aug 11, 2018 10:18 pm

Your balance can alert you to an unmatched bet you forgot to cancel!

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gutuami
Posts: 1694
Joined: Wed Apr 15, 2009 4:06 pm

Sun Aug 12, 2018 2:17 am

when you make a cock up and you're feeling frustrated just open sound recorder and record a message for 'future you'. And next time when you are tempted to misbehave just listen to your message from the past. And ask yourself - why did I record this message? should I listen to this younger version of me or not. and so on....

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LeTiss
Posts: 4462
Joined: Fri May 08, 2009 6:04 pm

Sun Aug 12, 2018 9:06 am

Having an aversion to losses is the biggest reason for many.

However, alcohol needs to be avoided too

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brimson25
Posts: 415
Joined: Sat Apr 08, 2017 11:42 am

Sun Aug 12, 2018 9:57 am

gutuami wrote:
Sun Aug 12, 2018 2:17 am
when you make a cock up and you're feeling frustrated just open sound recorder and record a message for 'future you'. And next time when you are tempted to misbehave just listen to your message from the past. And ask yourself - why did I record this message? should I listen to this younger version of me or not. and so on....
That is a really good idea.

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brimson25
Posts: 415
Joined: Sat Apr 08, 2017 11:42 am

Sun Aug 12, 2018 10:00 am

I've just made one of those. (Sadly, I hate the sound of my own voice)

xtrader16
Posts: 40
Joined: Sun Feb 26, 2017 1:00 pm

Sun Aug 12, 2018 10:49 am

Derek27 wrote:
Sat Aug 11, 2018 10:18 pm
Your balance can alert you to an unmatched bet you forgot to cancel!
By far the reason for reckless behaviour for me is the inability to accept a loss at 3-4 ticks which goes to 7-10 ticks. Then, I let the race go in play with 20+ times more risk than the original 3-4 risk control.

Letting the race go in play is the road to ruin for 99% of traders. Easier long term to take the 4 tick loss and try to recover later on in the day.

A feature I've recently found (via Peter's Videos) is the cancel button at the top of the ladder can be highlighted to make you aware you have money in the market you may not be aware of. This is a fantastic addition, thanks Peter.

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