I have a problem that I decided to share and get your opinion maybe this will solve it for me
whenever I trade and for example, I have a $1000 balance then I make it to $1012 I feel like OCD is hitting me saying that since this number is not round you are going to lose it now
And I do
in the next trade it’s gonna go to for example 997
Honestly, this mindset is killing me and is keeping me stuck in one place of no matter how much I trade I am gonna end up breakeven or a little less than 1000 or any other round number
This might sound very weird but when my balance passes a round number I remember all the misfortunes and financial problems I had in my childhood and a feeling like do you deserve it? can you pass it? and the like self talk
One option I found earlier was to set a target and when I reached it I would take out the gains and leave my account balance the same round number so my mind would be off of it
but trying to build a statement I need to keep working without taking out the gains
Do you have any suggestions about this and how I can deal with this round balance number OCD?
This is why I hide my trading balance from my trading chart; it makes me fear or overoptimistic during my Forex trading! You can also follow this path!
The market doesn’t know what your balance is. It will keep moving whatever your balance is and whether you check on it or not.
Maybe you need to keep a longer-term perspective on your performance - try checking the realised profits and losses at the end of the week. During the week, just focus on running each individual trade perfectly according to your plan / strategy. But preferably re-assess your financial progress only monthly and annually.
@Johnny1974 LOL
Glad you know how far I’ve come
Since that thread I have seen progress in my journey and every time I share my thoughts in here I can see it’s a step forward cause you guys are experienced and knowledgeable and have helped me
yes I have already taken a break from live trading and am working on my strategy
Good luck to you too
Wow, it’s kinda interesting thinking. I have never faced such a fascinating approach to trading, but of course it seems to me quite disastrous for you as for the trader.
Hence, you have to try to abstract from the digits on your balance. It’s a good practice for those ones who always strive for perfection, you should understand that you aren’t able to make from 1000$, 2000$ right now. It requires bunch of time, experience and skills. As you have described, you either lose the money or gradually earn it. Of, the preferable option is the second one, just try to abstract from these digits.
but I think in the long run its better for me to get used to movements in my account balance and be ok with it
