Admission time, and a question or two :(

Trading is often about how to take the appropriate risk without exposing yourself to very human flaws.
stueytrader
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http://zazenlife.com/2011/12/09/using-a ... -patterns/

This one was also linked to a gambling domain.
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to75ne
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oscar123 wrote:
Sat Sep 09, 2017 12:18 pm
I read somewhere that a lot of the top pro traders punch themselves in the face when they let a bad trade go inplay.
think that would be more effective then snapping a rubber band :lol:

why not get somebody to punch you in the kidneys servere enough to make you piss blood for a week, do you think that would work for long? or kick you in bollocks till your voice as gone 3 octaves higher and your never walk in a straight line again?

simple automation rules or an excel command both easily applied by betangel seem to be unable to stop people going people inplay perhaps heavy violence could help.
Last edited by to75ne on Sat Sep 09, 2017 12:30 pm, edited 1 time in total.
stueytrader
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I'm sure I'd also be interested in less violent strategies too :D Just thought I'd post the first one that I remembered an actual (successful) trader posting about.

Any others? (aside from automation)

ps. this is the 'psychology' section, so specifically related to psychology through behaviours - mind effects body and vice-versa is pretty clear.
stueytrader
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I think that is the point of the 'rubber band' idea too - it's the having the 'thought' about going inplay that you punish, and therefore reduce it's thought before it even happens....
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to75ne
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just try and work out what makes you tick/react. its hard if not impossible to change you, yourself; the way your emotions kick in and when/why, without professional help and shed loads of money your probably not going to be able change them. just try and reconise what is likely to make you take a wrong decision or a stupid one (your emotions are you not someone else living inside you).

if you can do that, then you have an advantage cause you know. if you know you maybe be able to write a auto rule to deal with it or warn you it is approaching,or simply do nothing, or cut out and so on, but you must learn about YOU (taking ticks is easy in comparison).

a successful trade which may be a loss even a nose bleed, that is the reward for a outcome that you did not let emotions control (or only slightly,,,your never get rid of/eliminate them). if you have some/better control of your emotions you will not make youself happy/sad/put you in bad mood/ make you feel over the moon/ go on tilt and so on. that is your reward, excepting the outcome of the trade red or green, big or small.

why extra punishment for getting it wrong, letting your emotions lead you to bad stupid trade, so more deliberate punishment (2 rubber bands snapping your legs), more missery, leads to more emotional trading, more misery, more punishment, depression, anger BANG.
stueytrader
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to75ne wrote:
Sat Sep 09, 2017 1:03 pm
just try and work out what makes you tick/react. its hard if not impossible to change you, yourself; the way your emotions kick in and when/why, without professional help and shed loads of money your probably not going to be able change them. just try and reconise what is likely to make you take a wrong decision or a stupid one (your emotions are you not someone else living inside you).

if you can do that, then you have an advantage cause you know. if you know you maybe be able to write a auto rule to deal with it or warn you it is approaching,or simply do nothing, or cut out and so on, but you must learn about YOU (taking ticks is easy in comparison).
I do agree with that general point, that you have to understand yourself, yes. That is the most important aspect in the long run of emotional control.

However, I don't agree that we can't alter/influence ourselves, thoughts and behaviours. Everything (and anything!) that could improve us in trading should be used IMO. It's a bit like that saying 'every little helps' I'd say, so anything we can add to our behaviours day to day (if it helps) is worth considering - of course if it doesn't work then that's also something to consider!
stueytrader
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Time of day is also something I'm considering making a key aspect.

I am considering never trading after 6.00pm - all of my trading has been much more profitable pre 6.00pm, and my disasters have all been after 6.00pm!
stueytrader
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Just wanted to report back that yesterday I put in place one of my first deliberate strategies (as above) - for the 6.00pm rule.

Huge sample of course (1 day) :lol:

But it worked a treat so far - nice steady profit pre 6.00pm stopped trading and didn't allow any trading after - a nice feeling not to blow my day's profits in any silly evening trading! 8-)
spreadbetting
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Why 6pm, why not 5:15 in time for Pointless?
stueytrader
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spreadbetting wrote:
Sun Sep 10, 2017 10:07 am
Why 6pm, why not 5:15 in time for Pointless?
:D Good point.

TBH 6.00pm is slightly arbitrary I agree, just seemed a fair point to draw the line between afternoon/evening and it seems to (approx) show that in my previous results.
I may need to adjust time slightly during the year too.
stueytrader
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The main point is probably related to 'fatigue' in my trading, and reducing this with timing and limits.
spreadbetting
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Fatigue can come on anytime, picking an arbitary time to stop is much the same as the stop at a winner crowd. If evening racing doesn't suit your style figure out why and avoid those races during the day also, if fatigue is a problem take a break whenever it occurs, if that's family time take it off. Setting yourself random rules with no real basis behind them is a recipe to break them then feel guilty for breaking yet another rule or use it as an excuse why you lose after 6.

I remember when I first started I'd have problems with the last race of the day, simply because I'd see it as a getting out race either to chase back losses or play up winnings. As soon as I realised racing is never ending and will resume tomorrow I stopped setting myself daily weekly monthly targets and so on.
stueytrader
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spreadbetting wrote:
Sun Sep 10, 2017 2:28 pm
Fatigue can come on anytime, picking an arbitary time to stop is much the same as the stop at a winner crowd. If evening racing doesn't suit your style figure out why and avoid those races during the day also, if fatigue is a problem take a break whenever it occurs, if that's family time take it off. Setting yourself random rules with no real basis behind them is a recipe to break them then feel guilty for breaking yet another rule or use it as an excuse why you lose after 6.

I remember when I first started I'd have problems with the last race of the day, simply because I'd see it as a getting out race either to chase back losses or play up winnings. As soon as I realised racing is never ending and will resume tomorrow I stopped setting myself daily weekly monthly targets and so on.
Yep, some fair points, I know it's a little arbitrary at the moment, but still seems to fit for me with something to work on to fine tune the idea. Family time is part of the issue too as you suggest - not always easy to concentrate on trading later in the day for sure!
It's all only an initial idea, certainly needs working upon.
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gutuami
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get someone to watch your behavior and guide and make you respect your own rules. a kind of "personal trainer" with a clear brain, unaffected by emotions. trading is a two in one game the employee and the employer at the same time. While you should behave and act like an employee when a critical situations occurs you tend to become the employer - the boss, the one that does whatever he wants. The range of ability to overcome that is the difference between success and failure.
stueytrader
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gutuami wrote:
Mon Sep 11, 2017 12:44 am
get someone to watch your behavior and guide and make you respect your own rules. a kind of "personal trainer" with a clear brain, unaffected by emotions. trading is a two in one game the employee and the employer at the same time. While you should behave and act like an employee when a critical situations occurs you tend to become the employer - the boss, the one that does whatever he wants. The range of ability to overcome that is the difference between success and failure.
I like that analogy to boss/employee, thanks.
I can see that at times when I have previously 'lost the plot', perhaps if I'd felt I was working for someone else (my employer) then I'd have been less inclined to go against the rules, so to speak. Having said that, it didn't stop Nick Leeson, so perhaps even that isn't full-proof! But in general, I get the point of the analogy and at least a possibly more 'professional' way to think during your actions.
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