Feeling guilty on missing a trade
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  1. #1
    Join Date
    Nov 2013
    Posts
    14

    Default Feeling guilty on missing a trade

    Hello everyone!

    First off, apologies if this topic was already discussed somewhere else.

    Well now, I see many people have the issue they freeze and are afraid to enter a trade. I believe my problem is the opposite - I become very aggressive.

    I know the importance of risk management, however once I get in that "phase" I no longer care. I tend to risk more than my fair 2%.

    I tend to overtrade too. My strategy requires multiple entries to be considered "one" position. I have a win ratio of roughly 20-30% but my R:R is 5 and above (above going up to 20). So I do have to enter the same trade over and over, but I get hypnotized to enter even when I'm not supposed to myself.

    And in the end, I've tilted my account so many times, it only feels natural now. I don't think I have a proper attitude towards it. It's a micro one, but enough to sustain Risk Mgmt.

    Been in FX for 3 years, I've ready Marc Douglas' books - they are great, and helped a lot. But my question is - is there any book that focuses on general trading attitude/ account attitude?

    I need to get a bit less aggressive, any methodology or books that you can recommend, I'd be very thankful!

    Thanks in advance!

  2. #2
    Join Date
    Sep 2015
    Posts
    10
    Just calm down. Why do you need a book when you know you need to calm down. I never read a book on forex what so ever and I can double my account size in rather under a month. (Although it was a micro one). But the most important thing is self study, not studying anyone else thoughts. That's what I do. When I know I have to be aggressive, I get aggressive, when to calm down, I do that. What is the point of reading a Book when you know your weakness. Man...

  3. #3
    Join Date
    Nov 2013
    Posts
    14
    Quote Originally Posted by Muneef View Post
    Just calm down. Why do you need a book when you know you need to calm down. I never read a book on forex what so ever and I can double my account size in rather under a month. (Although it was a micro one). But the most important thing is self study, not studying anyone else thoughts. That's what I do. When I know I have to be aggressive, I get aggressive, when to calm down, I do that. What is the point of reading a Book when you know your weakness. Man...
    Thanks for the reply. I know it might sound silly... but I can't stop myself. I know what I am supposed to do but when this starts I just can't stop. The itchy fingers a re really strong with me.

  4. #4
    Join Date
    Sep 2015
    Posts
    10
    Keep your itchy ones at some other place. May be in pockets...
    Well dude this is the problem which all forex traders face, no matter big or small. And successful ones are those who can come over this problem. I have had itchy fingers once. but now I don't. Learn to control emotions if you want success in forex. Reading Dr. Pipslow's Pipsychology blog here on babypips will help you a lot. Try.

  5. #5
    Join Date
    May 2013
    Posts
    362
    Never feel guilty for missing a trader just learn from that guilt and try to overcome the conscious. It is very good for the traders to learn from their mistakes and use it for future advantages such that they can make good money and survive in the forex trading business.

  6. #6
    Join Date
    Jan 2009
    Location
    The Netherlands
    Posts
    1,049
    You are not alone. I missed one this week as well. It hurts almost even more than a loss trade.

  7. #7
    Join Date
    May 2013
    Posts
    362
    Well we should realize the fact that what matters more is the net result and if we are at winning edge then be happy about the trades taken rather than worry for the spilled milk.

  8. #8
    Join Date
    Aug 2015
    Location
    Indonesia
    Posts
    165
    Quote Originally Posted by titantron91 View Post
    Chill. Focus on having a gradually increasing net profit instead of big daily wins.
    You may want to look at this article I read before that helped me get over my delusions

    In our trading we have to think of times when we have had some really good income and also we need to think and analyze how much profits we are getting now on a daily basis.

  9. #9
    Join Date
    Dec 2015
    Posts
    347
    I never feel guilty when I miss a trade, to be honest. The market doesn't stop, except for the weekends, of course. There will be always new opportunities to trade.

  10. #10
    Join Date
    Jul 2013
    Posts
    2,249
    Quote Originally Posted by aakhabaev View Post
    Been in FX for 3 years, I've ready Marc Douglas' books - they are great, and helped a lot. But my question is - is there any book that focuses on general trading attitude/ account attitude?

    I'm no aficionado of them, but I think you might possibly find the books by Dr. Brett Steenbarger helpful.

    I suspect, though, that in the long run a much better and more appropriate answer to the problem you have might be for you to develop, instead, a method with a higher win-rate (even if its notional flat-stakes profit factor is a bit lower), and circumvent that problem rather than trying to "solve" it.

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