Jump to content

We have moved to Discord. Please click here to join us in the Trading Terminal Discord server.



These forums are read-only.

Leaderboard


Popular Content

Showing content with the highest reputation on 06/06/2021 in all areas

  1. 1 point
    It definitely sounds like you have a lot of mental stress going on that will absolutely reflect in your trading. I've been investing / trading for a little more than year, and I can say without a doubt that my mentality has changed like night and day when it comes to beating myself over trades. As a quick back story before I make any recommendations... I went from investing to day trading when the market was recovering from the Covid dip. Trading was easy. All you had to do is trade on an industry that was beat down, and wait for it to go up. I went into trading with NO community, NO classes, NO charting experience, and worst of all....NO sim trading. I made a lot and lost a lot. Right now I am still hold over 10K worth of bags on a stock I was trading after hours and while drinking. Sounds stupid? Absolutely. I was so confident from making money the wrong way that I felt invincible, and once the tables turned on me... I found myself in a bad place mentally as well as financially. I currently work a 9-5 as well and find my self distracted a lot. So on to my recommendations ( I am only going by your post, I have no idea of your full situation ) 1. If you break a rule you set for yourself, then it was a bad trade, no matter the P/L. This has to be your mentality in my opinion. If you find your rules being broken too easily without consequence, you may need to re-evaluate them and see if they are too strict or do not coincide with your trade strategy. You can even read through this forum and find posts where folks say " I broke my rule, but made money" Rules have to be set for a reason, to protect us. 2. Read Psychology in Trading books. And not just BBT books, but others to get different opinions and view points. This has changed my life dramatically, not only in trading. The mindset different books promote can be very similar and it is those lessons that I feel are the best since you have different people saying the same thing which helps to validate. Which leads to 3.... 3. Meditation and breathing techniques. This doesn't really have to do with any religious belief, but it is more of a way to navigate stress when in a trade ( or for me, before I even start the trade day. ) It doesn't really seem to help until you have practiced it for a while, and it starts to take hold. You may not recognize negative stress and how it is weighing on you consciously, but when you have days like you listed, they will stay in the back of your mind and effect your future trades. 4. Use negativity from your trade decisions ( P/L can be green or red, doesn't matter. If you make money on a dumbass chase, it was a bad trade ) as a learning experience and look at them as such. This is one of the biggest things that has helped me emotionally in all aspects of trading. It has kept me from chasing ( which is my number 1 flaw ) .. I don't get mad at myself for missing a trade and therefor am not stressed into chasing. Have a bad day or three? Review them and see what you can improve on, instead of just writing them off as a bad trade and trying to forget them. You won't be able to, and until you reconcile with the decision, it will sit in your mind and effect your future trades. Hope this helps, and doesn't come off as a "know it all" post, because God knows I have ALOT to learn myself, I just wish that I would have been part of a community like BBT when I first started so I could vent as you did and also look to mentors and other traders for advice or even just some comradery. Green days will come!
[[Template core/front/global/mobileNavigation is throwing an error. This theme may be out of date. Run the support tool in the AdminCP to restore the default theme.]]

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.