Struggling

[rebeccaw 13]

Hello BBT Family,

I have been trading in SIM for 3 months and just signed up for another 3 months because I am not ready to go live – I have been feeling pretty confident lately and thinking this is not so hard – huge mistake.

I have had the worst 2 days SIM trading!!!  Monday I started off trading AMD – what a mistake, I got in long it went down – I sold and went short and it went up…I seriously kept doing this and I kept getting deeper in the hole….I ended the day crying and never wanting to trade again.  But like a determined guerrilla I decided to trade today with small amounts – first trade 100 shares, made $50..I just should have stopped there but I thought you are doing so good go ahead – well I did for a long but it started to go the other way and I got out but what I didn’t know is that I hit 1000 instead of 100 and lost all my profit and now I was -20 and the day got really really worse.  I am way to embarrassed to share my screens with you all – my trading was horrific.

Soooo,

I am reading Andrews first book over and I am going to rewatch all the classes.  I might trade tomorrow but I think I need to chill.

Thanks for letting me share this with you – it just feels better to get it out and move on.  I will live to trade another day!

rebecca

[Abiel 475]

We all went through that Rebecca. Take 1 or 2 days off as detox: read the books, watch the classes, watch Robert´s Rants, etc. 

Also, take the time to review your journal, your rules and update as needed. Setup your risk controls in DAS, read this post DAS - Dynamically Calculate Shares on %Risk or $Risk - Hot Key + Configuration, Updated 10/30, v1.2, these hotkeys are very useful to trade with a fixed risk in mind ($ or %, i prefer $). 

Trade well,

-Abiel 

[rebeccaw 13]

Thanks Abiel, I appreciate your comments.  I took today off from trading and while I was journaling I realized that on Monday my husband was home and my son stopped by with my grandson so I had a lot of distractions- I am going to have to move my trading station - so thank you for reminding me to journal because I didn't get how valuable it is. 

rebecca

[Norm 46]

Rebecca,

As Abiel mentioned, we all have been through this. Step back and take a break for a day. Come back and just watch the chatroom, I've found it quite cathartic to do so.

 

I don't know what your track record prior to the last couple of days was, but the amazing thing about this journey is that a weeks long green streak can be crushed psychologically by a couple of bad days. It doesn't mean you're not learning, it happens to everyone. Reflect on the last two days and use that to learn what not to do, it is far more valuable than having a great day and moving on.

 

[NickAbrams 11]

It might help to look back and really try to find something that you did well.  That would take reviewing your trades and being open minded.  You're beating yourself up too much.  Of course its not easy to calm those demons in my head either.  No one wants to feel that way either.  This is lucky that I went through something similar today.  I took 6 trades. All were losers.  Characters in my head and emotions say things like " I can't do this" and "I'll never learn".  But I go and review my trades and that really puts you in a different mindset.  I think it is something like an Observer perspective.  I am not in a perspective fueled by emotions.  I found something I did well today.

But I remember Carlos's interview with Andrew where he said one important thing he does is always try to find something good he does in every trade along with being critical.  

Mark Douglas says that the best athletes see mistakes very differently than I do.  He says that  "Mistakes are there to help us identify where we need to focus our attention to better ourselves and improve.  With that mindset, how can mistakes bring with it any negative emotion."   It's easy to say, hard to put into practice.  

[rebeccaw 13]

Thanks so much for all of the advice and feedback, just what I needed.  I traded today  +110 small shares and I am going to keep it small -  I need to build up my confidence.  My biggest problem right now is that if a trade doesn't go my way and I have a big loss I get back in it to try to make up for it..I am going to work on this.  I did way better on my stops today - yah!

 

[nassarsyed 82]

It’s all about psychology.

there is a Macro Psychology angle and a Micro one

when in a trade we are focused on Micro.  Honor stops, take profits early and often. Don’t over trade, don’t revenge trade etc. walk away when we hit max loss.

Very difficult right?, but now think of the macro angle. Being green on a day regardless how small, having more winning days than losers. Accepting managed losing days as cost of business. Even if you make 6% a month you compound and double your money in a year.

Think of the Macro angle. If at the end of the week. You only made 1.5% so you are on target. How good would you feel?, on the other hand, if you screw up on micro level regularily, how does that make you feel?

When executing on micro keep macro in mind and you should be fine. Focus on that feeling at the end of the week. 

Edited February 12, 2019 by nassarsyed

[Mike B 625]

Rebecca,

I am right there with you this week. I been live three weeks, and your post this week was just what I need to know that I am not alone in this battle. This week I left the light bulb phase for relapse phase, and I am currently fighting my way out.

Do not forget you are never alone in this battle when your apart of the BBT Community. I almost forgot that today. Thanks for your help.

[rebeccaw 13]

Thanks so much everyone for your advice....I had to take some time off, but now I am back and I am hunkering down - studying, watching..listening.  Not ready to go live, not even ready to get into sim again - but I do feel like I am in a better place with awesome support.  Thank you everyone!!!

Rebecca

[WilliamH 67]

On 2/26/2019 at 1:27 PM, rebeccaw said:

Thanks so much everyone for your advice....I had to take some time off, but now I am back and I am hunkering down - studying, watching..listening.  Not ready to go live, not even ready to get into sim again - but I do feel like I am in a better place with awesome support.  Thank you everyone!!!

Rebecca

RebecaaW when you are ready to get back in SIM, if you havent already, send me some of your trades to review with you. Tomorrow is Friday 2/29/2019. If you are currently trading again, send me all your trades from tomorrow. Either do a video review or take screen shots with your entries and exits. And trust me, however bad you THINK your charts are, my own charts from the past have been equally bad, so please dont feel embarrassed. We all share the same past with bad trades. Email me at [email protected]

[rebeccaw 13]

Hi William!  Sorry for the slow reply...we are working on getting our wi-fi hardwired in the house, for faster internet and lower emf's.  I am going back on SIM April 1st, very excited but nervous.  Your offer is awesome and right now it sounds like just what I need....but I know when I start in sim I am going to be super embarrassed to share all my bad trades.  If your offer is still open in April..I will send you my screen shots....it will be tough.   Thank you so so much!

Rebecca