Emotions when trading - page 18
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That's a mouthful :-D
I just can't curb my ardour yet - 50% of my last account plummeting on the news proves it. )) But at those moments when I succeed :-D When you think about what could be +50% my heart bleeds :-D
You've read Elder.
Remember, he gives a situation as an example;
Imagine that you are not trading according to your plan.
Imagine that your head of department, before going on holiday, gave each employee instructions.
And you, too, were given clear instructions on what you were to do.
So put yourself in the head of the department's shoes first and make a plan of action.
Then put yourself in the place of the ordinary employee who has these clear instructions on his desk.
You can think whatever you want...
But you must trade strictly according to the instructions. No more, no less.
You don't have to think. Your boss has already thought it up for you.
All you have to do is follow the instructions.
So follow them.
Do exactly as your boss says.
Do it at least once in your life.
You'll be amazed at the results.
And all these arguments and discussions will lose weight for you, because you will have a different kind of confidence.
You will move to a new level.
You write beautifully, you understand everything so well. Let's see what you're up to on the big ricks.
Anyway, good luck afterwards, we'll talk if you're right.
Judging by the speed at which the topic is growing traders are very emotional people ))))
Although they say there should be no emotions in trading )))
Judging by the speed at which the topic is growing traders are very emotional people ))))
Although they say there should be no emotions in trading )))
so it might pick up your planned correction.
Just as long as the correction does not turn into a trend change. :)
let's see how prognosticative and analytical you are :)))
Another important thing is to believe in your TS and in yourself that you will fulfil it in all your emotions.
Do not blame yourself or blame yourself, because every action you take is a reflection of your self,
The real perception of the market and life.
If you did a bad deal, it does not mean that you are bad, it means that something was in the way - thoughts, old skills, attitudes.
You have to dig deep within yourself to figure it out.
It's also important what your goal is, to make a quick buck,
or to learn to trade beautifully, which is very long and sometimes tedious,
it can be tedious.
And hence the result follows accordingly.
A trader does not need "unnecessary problems".
Nothing should prevent you from being free from everyday worries and stresses.
Don't promise anything to anyone.
Don't borrow anything from anyone.
Don't tell anyone about anything.
Dump all the ballasts that may be distracting you.
You need a clear, bright, unencumbered head.
You need it in order to make good decisions.
Many people make "sacrifices" to gain that freedom...
in the news the euro could continue to rise.
so it might pick up your planned correction.
Just as long as the correction does not turn into a trend change. :)
Let's see what a prognosticator and analyst you are :)))
That will only help...
All is well and things are going as planned.
Probably overnight, or tomorrow the first Sell Limit (1.14590) will trigger.
Don't forget, to make a big profit - you need a deeper drawdown.
The grid is set. We have to wait. If the correction model does not work - the profit will be small.
And in the meantime we can have a beer. :-)))
I set the target at 1.08290 "by eye" from the monthly chart.
This is a "convenient" level for the Market. Put up the crosshair and you will understand why.
When the price touches this target - all open positions (if they are all collected by a pullback) will be closed, and the profit on them (about 5791$ excluding swaps) will be fixed. It seems to me that this is the level from which the pullback will take place after the move.
You write that the highest level (determined by you again by eye) is1.20419. And according to you, this is the highest possible pullback? Well, I have to disappoint you! This figure doesn't even correspond to the most less realistic pullback level, which is 1.22! And if, God forbid, a 5-0 pattern is triggered just from the broken level...!!!? I'm afraid you'll have to say goodbye to your blood money!!!! Because the minimum level of this model is very, very high! Namely in the area of 1.57. Such a pullback is not withstanding any of your risk-management))
Again, as an experienced analyst, I make a reservation - if the mood of the bears prevails, we can still get down to 1.08, also included in this model, and then jump up.
And as an even more experienced analyst I can say that there are simply uncountable amount of scenarios! And no macro or micro indicators are not involved! And the analysis is just the analysis and it cannot tell you anything!
As for the laughter and the minimum lot! Why are you taking it all so seriously? )) I was being sarcastic! )) For myself I understand the same thing in general - there must be a certain minimum (everyone has his own minimum) for a certain amount, to exceed which, if possible, only in emergencies - to withdrawal of the position at worst, in the break-even point. At best, the position may turn in a profit. Again, you have to be confident in your actions, in our case, that the trend will continue. All other methods are worthy of competition, and are more than risky! All the other methods are worthy of a contest!!! But the build-up of positions by you leads straight to the sinking!!! This has to be avoided as much as possible!!! Ideally, your maximum aggregate lot should comply with the above rule. This would not lead to super profits, but it would also exclude the probability of an early loss. I hope you have a lot of experience in this.
You need to find a balance where you will earn an acceptable percentage at a minimum risk of losing everything.
And all these arguments and discussions will lose weight for you
Talking on the forum with those close to you is a great pastime! I would not call it an argument - rather an intellectual conversation with a share of sarcasm (otherwise it could also become a mortal boredom), in which the truth is born. Truth is never far away.) It is not absolute. It is impossible to know everything but it is necessary to know everything.) Maybe you will learn something from this conversation. Maybe I will? Is that a bad thing? It's great! It's a workout for our gray matter, and it's much better than stupidly staring into a zombie TV set with the Puppets' followers trying to fill that same gray matter with all kinds of crap!!! ))