I have documented all my trades. I have before and after pictures. I have trade logic at the beginning as well as the result of trade followed by what I could do better. I probably have 20 systems of this saved on my computer. Its likely I have 1000 probably even more trades created, documented and analyzed. I have removed over leverage but I sometimes find if my system breaks down I’m more prone to random positions. Although usually random positions don’t exist in my trading. I consider random trades to be a process of “degenerating” out of the structure of a strategy. Or for example, getting stopped at break even and then retaking the position. I know its not good and usually don’t do it unless my system breaks down over several months. Its at that point I find myself more susceptible to degenerating. This is an emotional issue I have identified. Solving it goes back to having a working strategy I can trust.
I know for a fact I over trade. I have attempted to deal with this by taking smaller position sizes. For example, if the JPY is really strong and I’m attempting to follow the trend I will buy JPY on all pairs but do so at .25 % so my total risk is less than 2%. Its not that effective since I think im taking lower probability setups. For example, I started a “new” attempt at 3 ducks method last weekend and took 60 trades in last week… Some of them didn’t get triggered but many of them did. I probably took 45 or so said trades last week.
Over trading is a serious issue. I’m just not sure how to address it. I will be attempting 3 ducks methods again this week however I am going to try to only take 2-3 trades per day at 1%. Only the 2-3 best setups over the 28 pairs. Would posting my trades on a thread I create aid me? It certainly might make me more accountable than I hold myself currently.
There is a mentality that one needs to develop to be a successful financial trader. There is a mindset and an understanding. I am missing what I believe to be a component of this described mindset. Books like “the disciplined trader” describe this mindset. Its not that I need to spend more time on charts, patterns or strategies. I need to work on the psychological part. I feel if I was a computer this would be easy but I am not. I am a human with emotions that make my decision process imperfect. It will always be that way. I need advice on how to do solve this described psychological problem. I think that every successful financial trader has gone through this and understands what I am trying to describe here.
I have done the best to describe what I believe to be my issue here. Your guidance is much appreciated. This is a very challenging task that years of work have not solved for me. The reason I continue to trade after countless hours is because I crave the technical challenge it provides. It gives my real life structure and discipline. I also have a fundamental love for business/finance that is not going to go away. Just in case you didn’t fully capture the underlying message above, I am not part of the get rich quick crowd. I am one in here that will try until I succeed or die in real life.