FML why can't I live trade without making the same mistakes for years!

Hi all,

just devised a near perfect system imo, nothing fancy just super effective. not here to discuss or advertise that just talk about why I’m still after 4 years making the same mistakes live trading I did day one.

when I’m doing good I’m on fire but after taking a few hits i lose it and spiral.

I know all the answers but the same emotions come in and take over namely greed and fear, is it worth to do hypnotherapy or something?

I can’t afford a trading coach but feel I need something like that.

When on demo or sim I’m not joking but I can nail a 1000000% gain and wr of 80% plus. which I know means nothing but just means i can read the charts.

Anyone anywhere got any advice?

Please no clichés.

'best

DARTH

Use tight stop losses and define max number of losing trades you accept per day and other similar rules which make your emotions having no control over trading.

trading is a process of working on urself much more than working on some sort of system.

clichet :slight_smile:

THE QUEST FOR THE…


The answer is…

NI !!!

hahaha good one fitting:59::59:

It’s tricky, but I found most of my psychological problems stem from staring at a chart too much. Fortunately I only swing trade, so I only need to see the chart once per day to put in my orders. Otherwise I try to stay away from a live chart as much as possible (exception: big news events like NFP). If you stay away from a chart, your emotions return to neutral.

I don’t know how this can work if you’re day-trading. Perhaps trade 1H charts and only check the chart once per hour?

exactly, i aswell had the same problem in the beginning. swing trading but constantly looking at charts makes you go nuts and have bad decitions. in fact it hits me even till today sometimes. the last 2 weeks i developed a habbit again to constantly look at charts and it immediately damaged the performance so decided to take vacation away from trading entire december.

perhaps in daytrading the option could be to stop looking after order/trade has been entered and occationaly look every 2 hours how its going.

anyways in my opinion decitions of opening/closing trades should be made only by not watching the chart but rather take a glimpse at chart and the situation and then give it thoughts away from charts and then decide upon mecesarry actions. the tick is the biggest enemy to a stable psychology in trading.

How you doin brother?
Man good to see you, missed you.

Hope u and fam hava happy new year

'best

kas

Trading has many aspects, a method of getting in and out of a trade is just one facet.

You have to learn how manage a trade, manage risk. Adapt to changing information in the market, ignore information.
Know when to trade and when not to, even if you get a signal. Arguably you can be mechanical and always take a signal no matter the external situation. No hard and fast rule.

I’ve often been right about my prediction and lost money. I’ve only sold in an uptrend and made lots of money. You might buy early into an uptrend, then take profit too soon.
That profit may have paid for the next string of losing trades.
It’s all probability and you will have losing streaks, no matter how good you get.

It’s possible that you have the perfect system, are trading it perfectly and just losing money.
Trading is a hard game and human beings are very bad at intuitive statistics.