Ironically,
I also made a winning trade yesterday night. The joy of a winning trade actually lasts about 30 minutes or so before it goes away.
Well, happens the same with me. However is not the loss what cripples me right now, external issues hard to solve. As long i cannot get my mojo back i’ll stay away from market.
Regards.
Mr Gone are you dealing with personal issues at the moment?
Yeah, unexpected as the BIG daily Canddle on gbpjpy of today. When personal issues occurs with two consecutive losse is time to solve the issue firts. Losing stake + personal troubles = BIG LOSS. I’d rather take a small loss this week, try to solve my problems and then, maybe next month try again on trading.
Overall i am still green but this month i am already negative. Maybe it’s overconfidence, takes time to recognize it. Let me explain it a little, this goes for both scenarios. In trading when you are having a winning stake you feel great and there is nothing wrong about it, the problem is you forget the loss, it will happen someday and when the larger your winning stage is the more personal the loss you take. No matter how long you are into fx you will fall into this behavior, i do, what avoids me blowing up my account? My rules, my personal system made by me, maybe copied from aother traders in some fashion but addapted into my own taste. Yes, i had two losses in a row, did they occur the same week? No, Did I skip my own very rules? No, I am feeling crippled? Yes, Can I sleep well? Yes, because it’s under the plan, i follow my rules so even if crippled i have faith on my rules will take out someday. SO i can trust in the fact “I did nothing wrong”, just like when someone says something really anyoing to you for something you did not do but cannot avoid feeling guilty so you tell yourself you did nothing wrong and when it fades you just forget about that poor bast%rd.
The same with personal stuff, when you get used to everything goes like fortoune smiles on you but something happens and you take it as a calamity but it realy takes time to evaluate the situation and while the real thing is not propperly confronted you will not sleep quite well.
The moral: accept that nothing last forever, while fat cows walks on your farm make a good use of them and save a little for skinny cows seasons, when that season comes make sure you make a good use of whan you have spared and trust fat cows will come back someday.
Regards.
Mr Gone, I am wishing you well
Life is a constant battle everyday I must say.
Yeah, i tend to forget that.
Well, had three loses in a row, now i am on FX vacations, rule #11, [I]Three loses in a row means vacations for the rest of the month[/I]. So when i come back a new market condition will be set and so i will stay unbiased untill i ruin it again.
Regards.
The way i’m controlling my emotions as of recent is I just built a new computer to keep by itself with no games and in a quiet “zen” area of the house where I can concentrate without being distracted and I made sure I blocked facebook so that the only things I do are trading and reading so psychologically when I’m in the room my brain is conditioned to feel relaxed and to go into “trading” mode. Also before starting my trading I’ll try to meditate so no matter whats happening outside the trading area it doesnt influence my thoughts while i’m in the area
Sounds good, i do almost the same. I do meditate. JUs one question, are you a daytrader? In my case i am not, i almost do what you do when i do my analisis and when i finally pull the trigger and the i´ve forget about it until the trade is closed. I am a swing/position trader and i can affor to do so.
Regards.
I think I might be a day trader lol
what I do is in the morning wake up 1 hour early to check on my open trades, maybe make new ones, then during the day check on them and their S/L’s i’ll ususally move up the S/L’s progressively until break even ( do this cause i’m still a student/doing an internship this semester). then when I get home i’ll usually eat dinner, maybe go to the gym and then just study forex for a good 3-4 hours and thats usually when i’ll close myself off from the world and thats every night, mon-thurs, I usuall work sunday nights hence why I dont trade the asia open.
hablas español? note que eres de bolivia
Daytrading is not an easy thing to do, i´ll do it when i have time.
im like cleo i cry and get worked up when the market ruins my system and strategy
don´t worry, we all been through that stage
yeah its pretty weird, took some getting used to. I pretty much consider forex like my third job so I treat it as such, I dedicate a set amount of time to it every day and so far i’ve been seeing good returns. though considering I just started using this type of schedule and mindset a month and a bit ago cant really say much about the returns but two weeks ago I became consistently profitable and hoping it stays that way lol.
and the way I see it when a trade goes against me, I actually see it as a good thing, because that means the statistics that have been calculated for the system I use are actually true. so that means that if the system indicates 40% down and 60% up then I should expect losses as well as wins and I just take it in stride
I´ll try daytading next year MAYBE, after quiting my actual job.
Regards.
Hi Mr Gone, could you post your rules, i would be interested in seeing them.
I am a newbie, and only demo trading at he moment, but i am treating it like a real account as i know if it is not consistently profitable i can never trade from a live account! But you all who have commented here have made me realise a few things about myself, when i have traded badly my emotions were out of check or i was tired, could not concentrate or was distracted, but when i was successful i was alert, awake, following my morning routine and had no distractions.
Thanks guys, you have given me a lot to think about and i think i need to implement my own emotional rules. Does anyone else have a set of rules they don’t mind sharing with a newbie?
Also how long do you trade for in a day? A few hours or a whole normal working day?
Cheers
i have the book of rules in my office, i’ll try to have it by tomorrow.
Awesome, thanks Mr Gone. I do hope one day i will be able to be in your position, to be a profitable trader living off your own earnings and being able to share that knowledge 
Im sure i am on the right path to be like yourself, but i have a long way to go, i know my limits and that i am not ready yet. But slow small steps No rushing this business lol
Sorry again, i will try to post my rules tomorrow, it is carnival and i don´t wanna get out unless i wanna get wet and painted.
So the issue of today: Trader Deppression.
Is a weird sensation of feeling frustrated even if trading well, the reason of it: not enough capital and the desire to retire and start living of trading. Well, we all want that but trading itself is not an easy thing to do, gather the funds to living independently is much harder. But don´t let this unfortunate stage cripples you. After crossing all obstacles is an insult to yourself to give up upon this point. Do you remember why you got into this crazy world? Yes, the money, the results, blowing up your account. But you decided to give one more try and found out it was much harder, it was easier to accept that millionaire initial loss because this is not easy. But you managed to find out that guy called Mark Douglas.
Now you applied zen techniques, meditation, clock ticking, I Doser, who knows but now you wanna launch for real. Well, if you are a good trader, you are for real, no matter the funds you have, just go back to school, when you where ashammed of not having what the other kids had, what did mother used to say? That stuff will not bring you happiness.
Take your 100 USD trading account as if where a million, a serious thing, like a mini hedge fund wich is ran by you, like a bank acc with a little high interest. Time to time add some more funds but little by little, it can be an overwhelming situation to manage more money, your earnings can be bigger and so your losses, if you have 100 usd and play with 0.01 mini lots, the obvious thing would it be if you add 100 more you would trade with 0.02 mini lots, but wait a minute, one loss can erase what you have earned, so i recommend you after adding funds wait a little time to scale up positions, set a rule for example when your actual earnings with just 100 usd are 10 usd so you can scale it up, three losses of the new sizing would be smaller than the actually earned.
My point is, your objective must be anythig except the money itself, it is a paradox, the less greedy you become the more money will rain from the sky.
Regards.
PD Recommended book: Super Trader by Van K. Tharp, it is like any trading book but it explains step by step the psicological side, just like “Trading in The Zone” but less scarry and more didactic.
It is very hard to control greed