How best to fight the mental game...

[torero]

Brown, I know you want to hear from the good doc but I learned it from somewhere that the best way to get rid of some of unwanted unhealthy thoughts would be to rationalize them. So here it is: When you were a stockbroker, were you able to get every single account from all the sales pitches you've made? Were there some typical profiles you know it would be easy or difficult for you to land win them over? Think about it hard and you'll see why these thoughts don't make sense. It's possible but baby steps by drawing out new goals and plans in achieving those goals.

So maybe you can draw up a new trading method in order to capture these goals/points?

[brownsfan019]

Good point Tor. I never landed each and every whale that I went after, nor can I do it in trading. I can however get as many as I can, whether that's one large whale or a handful of 'baby' whales.

[TinGull]

Like little beluga whales?

[brownsfan019]

Paging Dr. Janice, you have a thread or two on TradersLaboratory to reply to.

[walterw]

I hope we dont drive her nuts ¡¡¡ jejejej maybe after the TL experience she goes for therapy ¡¡ jejej... Dr. Janice this forum is unique on its kind... dont panic ¡¡¡ cheers Walter.

[cooter]

Hey Doc,
Any comments to the initial post?

[ammo]

if you successfully keep taking small profits and your acct grows,so will your confidence which will come from your increased knowledge,as it increases so will your ability to read the market,be patient and be glad you are profitable,the rest will come...good luck

[thetradingdoctor]

It is prudent and reasonable to catch the majority of a move. If you can do that consistently, you are a winner. Trying to top tick or bottom tick is like a blind man in a pitch dark basement looking for a black cat that isn't there. You get one chance in a lifetime to pick the absolute top or absolute bottom of a move. Try to trade the middle and be grateful if you get it. In terms of how much money people need to make every month, this is totally individualized. This is part of your trading plan and you are competing with yourself every month to succeed in this plan and be consistent. After all, it is a job, least we forget. Also, I do not advise increasing size until one is really able to execute consistently and successfully and to meet his/her monthly goals for 6 months. There are many who want to increase size when winning, and many who actually do increase size when losing. I think that either of these has a tendency to backfire and I do not recommend them. Some may, but I can only tell you what has worked for me. I believe in getting rich slowly and steadily. I do not swing for the fences or try to be brave when I don't have any real edge.

Each of you must find your own way, sing your own trading song and learn from the greatest teacher in the world--the markets. No one can tell you what to or how to do it. You can read tons of books, articles, newsletters, etc, but --in the final analysis-- it is you, your screens, your keyboard and your brain that makes the final decision.

Hope this helps a bit.

Thanks!

Janice

[brownsfan019]

OK, no offense doc, but I don't see any added value from your post vs. the other posts from the other traders here.

Before I get chastised or anything, when I look to a professional 'trading doctor' I am looking for more than 'you must find your own way'. I specifically asked about how to train your brain to accept that you will not catch every move, take every tick, etc. That's a very specific question looking for a specific response.

I think you'll find that the most active of us on this board have been given the 'find your inner trader' stuff. And I'm sure it looks good on brochures, books, etc. But if you really want to tap into this forum and provide value, I'm looking for more than this post, esp after 8 days since I first posed the question. Personally, I'm not impressed thus far. That may mean very little, but I think James should be aware of the overall impression we have. I would also suggest that James occasionally survey members when it comes to a vendor being on the board. It's a fine line to be a vendor on a message board and one that should be examined occasionally.

[PYenner]

Sound answer Doc.
They used to say that Fred Astaire was the greatest dancer,
yet Ginger Rodgers did all the same steps backwards.
The market leads, we learn to stay in step.
Change what you can change but accept and come to understand the market as it is. Same with human nature.
Live with it and learn from it, yeh?