Emotional AID

[Mr Gone]

Hello guys. A little intro first. My fellow trader, you must by now developed a system by your own or copied another one that you knows that fits on your personality, it does not matter, i guarantee you that you have a good system. You might in some point had the aha! answer and improven your trading for six months in a row but just one bad month crippled you again and right now you might be wondering why? The question is the answer, you are insecure. You enjoyed months of success, you thought you were able ti manage emotions but ultimately you became overconfident without beeing aware off. You might be reading Trading in The Zone or something like that at the begining of your burst up in forex. The problem was you stoped reading psicologycall material and forgot what emitions management was.

A good technique is too ALWAYS seek for a emotional forex technique and read it even if it's always the same. So i wanna dedicate this trade to all babypips followers who wants to have a continuosly uptade. So guys, bring up your material and post it.

I recomend you guy to watch Million Dollar Traders, it was a very iluminating thing after watching it, made me realize that emotional control was everything. Look what the three guys who finaly stayed at the end had in common, they were always calm even whe hell came trought just sudenly. Their trading ideas were so different from each other but their chilling out mojo made them professional traders. Don't made the same mistake of Cleo, she became too emotional, she was crying all the time.

Regards.

[Mr Gone]

One good techniqe i use is write down all my strategy rules in my psicho book where i write all my psichological mannagement and my action plans before, during and after a trade. One of my rules is to read all rules before opening MT4 and after closing it and icommited to myself not to open nor close MT4 if i don't have my book on my hands. So i have a quote of loses, three in a row and i'm done for the rest of the week, yesterdeay i had two, today i will not trade, tomorrow there is not relevant report to me and hence i'll save that one trade left for thursday, UK interest Rate Desition. So to avoid impulsive trades i will not open MT4 for today and tomarrow, easily said than done, it is very tempting to do so even just for take a peek. What i did to help myself not opening MT4? Left my book at home, belive me i don't know why but it is easier that way, before i 've implemented that rule i was used to say "ok i will not trade today" but ended up catching trades and most of those must not be taken trades ended up activating SL and frustration was too dam big to bear.

Sorry guys but forex is about self control. Most succesful traders do crazy stuff like this.

Regards.

[pandras82]

Hi Mr Gone,

Could you suggest any material in this topic please?

Best Regards

[Mr Gone]

Search for "4-Minute Drill for Traders" in youtube. More material unfourtunately is not available, at least i did not fount it yet. A good material is Trading in the Zone by M. Douglas but it only talks about the BIG picture, your overall behavior. This nitty gritty techniqes i've discovered by my own or found it in youtube.

Another good material available in youtube is "Become a Disciplinated Trader" by Ari Kiev, just search for Ari Kiev. One techniqe suggested by Kiev is to have a chronometer or a chronnograph (cell phone chronometer works) and when you are having a emotional stake just push start and wait the emotion fades away, remember how long it lasted and next time you feel the same just push start again, this time you know this emotion will not last forever and when you see the deadline comes near to end you will start to feeling better. Everytime you push finish the time frame for that emotion will be smaller. The moment the time frames gets bigger it means you need to take a forex vacation, just one or two days away from MT4 will be fine.

Regards.

[pandras82]

Search for "4-Minute Drill for Traders" in youtube. More material unfourtunately is not available, at least i did not fount it yet. A good material is Trading in the Zone by M. Douglas but it only talks about the BIG picture, your overall behavior. This nitty gritty techniqes i've discovered by my own or found it in youtube.

Another good material available in youtube is "Become a Disciplinated Trader" by Ari Kiev, just search for Ari Kiev. One techniqe suggested by Kiev is to have a chronometer or a chronnograph (cell phone chronometer works) and when you are having a emotional stake just push start and wait the emotion fades away, remember how long it lasted and next time you feel the same just push start again, this time you know this emotion will not last forever and when you see the deadline comes near to end you will start to feeling better. Everytime you push finish the time frame for that emotion will be smaller. The moment the time frames gets bigger it means you need to take a forex vacation, just one or two days away from MT4 will be fine.

Regards.

Thanks,appreciated

[Mr Gone]

Search for "4-Minute Drill for Traders" in youtube. More material unfourtunately is not available, at least i did not fount it yet. A good material is Trading in the Zone by M. Douglas but it only talks about the BIG picture, your overall behavior. This nitty gritty techniqes i've discovered by my own or found it in youtube.

Another good material available in youtube is "Become a Disciplinated Trader" by Ari Kiev, just search for Ari Kiev. One techniqe suggested by Kiev is to have a chronometer or a chronnograph (cell phone chronometer works) and when you are having a emotional stake just push start and wait the emotion fades away, remember how long it lasted and next time you feel the same just push start again, this time you know this emotion will not last forever and when you see the deadline comes near to end you will start to feeling better. Everytime you push finish the time frame for that emotion will be smaller. The moment the time frames gets bigger it means you need to take a forex vacation, just one or two days away from MT4 will be fine.

Regards.

I've improven my emotional TF from 6 hours to 15 minutes. Yeah!!!!!!

[Mr Gone]

I wonder that too. It happens to all. The reason for that is quite subjective.

You must understand Forex is just a probability profession. You have your system and it does not work. Why? Well, this may cause a tremor and be ready it won't be a nice answer; the reason for that is because none trading tool works. Yeah!!! Pro's, just think about it, your sma's crosses or bollinger based makes you profit but if you reconsider it is not the only thing you use.

Your pullingthetrigger strategy is just one tool to put the odds the closest as possible upon your favor. There are some who are fundamental, others technicals, others discretionals, others price action based or other ones just a twisted mix of all. The most used techniqes have sma's croses. You can profit from it. Why i don't used it? Because there is no fun on it. Think about it, if you have a loosing stake, you might lose motivation to stay ice cold. Me personaly combine fundamentals and price action, why? because i like to study, i like to read, analyse reports and watch the chart ti behave as i've said. Once i pull the trigger i just move on even if it is still open, it is open and there is nothing else i can do. I enjoy more studying the market, trading is just a "ok, this might be good" impulse. Maybe fundies are not for you but you must find a way to enjoy the market flow. Keep stuyind the market even if it's turning against you. Most traders just lose focus when sl is about to activate. A better aproach is to accept it will activate and start studying why is turning in the opposite way. Just move on.

Regards.

[pandras82]

Hello Mr,

Could you please provide your emotional diary of one of your trades? I would love to see that.

Best Regards

[Mr Gone]

Sure, tomorrow i will post it.

[Mr Gone]

I could not load the puctures of the book, so i'll type down the tansliteration of Reflection Moment if yesterday.

I must admit it is not easy, emotions cannot be controled all the time, what gives me an advantage among the others is the fact i admit it and recognize it in the act and decide to do something about it.

I cannot control markets but i can choose to continue peeking or not. Once opened the trade there is nothing more i can do. The only thing i can do is keep studying the narket and see if the thing keeps on going or not.

I must continue analysing the market in a neutral point of view, although it is turning against my previous analysis. Analysis is just a tool that gives me a better chance, results are up to the market.

Knowledge of the marketis more important than every single trade taken individually.

There is not right or wrong, lose or gain, just what the market did or did not.

Well, that is part of it. My diary is much more complex than that. I put there my plan of the week, the adjustments during the week , the pulling the trigger updates and how i feel about it, how my still open trade is progressing and so on. The trade itself i register in my trading journal, wich is an excel sheet that includes the signal, charts, emotionals and so on. My Big Book or emotional diary is hand written. I use an elegant notebook and write with a fountain pen water based ink. The paper is thick and so it makes it easier to write. I make sure i do it with a nice writing.

Regards.