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Richie1977

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Everything posted by Richie1977

  1. simply have a max loss for any trade, and or max loss for a day...
  2. Constant self awareness is the key, if you are aware that you are bidding to low, or not hitting the set up when it occurs. If you say out loud you are doing this to yourself, you have the chance to correct. I did it on NFP on friday, I must have missed 4-5 reversal trades, I made myself aware, changed and then started to make money. This fear of loss, plagues most traders from my experience, I have friends in hedge funds that keep tin pots for all their, "should of, would of, could of trades...." for all those missed opportunities. The key is awareness....
  3. Good posts ...I agree with all of the above....especially determining good and bad fear...
  4. 1. check out this website...TRADING PSYCHOLOGY is Psychological Capital They believe that you will always feel emotion, but how you feel/react to it, can be changed... 2. Manage your time daily - spend time away from desk, get some air, time mentally rehearsing trades, see trades go onside and offside and how you will react. Tradng is like a competitve sport, hitting a thousand forehands is exactly the same as hitting a thousand trades. 3. See the uncetainty as a positive emotion, repeat to yourself either out loud as you trade, before you enter trades, or via meditation - "uncertainty" is humouress. Smile as you say the word. But then be serious about the word "certainty". You can only control your entry and exit that is certain. What the market will do will always be uncertain. May sound daft, but your brain doesnt know the difference. If you dont make the conscious choice of changing the feeling of anxiety, it will get worse. You change it by associating the feeling with a smile on your face. Ignoring it is not an option. 4. Meditate, at least once daily. It is as important as reading about the markets, studying charts, and gaining your edge. You have no edge if you cannot execute it...all that time spent studying the past will be worthless, if the moment you enter a trade, you let fear and ansiety take over... 5. Be consistent with all of the above, dont let one day slip when you dont do it
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