Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Recommended Posts

Looking for trading buddy (US Eastern Standard Time). I do swing/position trading (stocks,

etfs, futures, options) . I do not day trade.

My problem is self discipline. Since I trade alone, I often ignore my stops, I take larger position than I should etc. Simply want someone to make sure I followed my trading plan. In return I will do the same. This can be done end of trading day it will take no more than hour.

I am moderately profitable but not enough to do trade full time.

Share this post


Link to post
Share on other sites

My problem is self discipline. Since I trade alone, I often ignore my stops, I take larger position than I should etc. Simply want someone to make sure I followed my trading plan. In return I will do the same.

 

so you are asking for a trading buddy with an electric cattle prod for when you dont follow your plan..... :)

zappp.....ouch, zapp......ouch, stop it.....zapp...ouch.

 

my two cents....you need a friend to chat too to pass the time, to throw around ideas, but only you can stick to your plan.

What are they going to do when you tell them your plan?

Share this post


Link to post
Share on other sites
Looking for trading buddy (US Eastern Standard Time). I do swing/position trading (stocks,

etfs, futures, options) . I do not day trade.

My problem is self discipline. Since I trade alone, I often ignore my stops, I take larger position than I should etc. Simply want someone to make sure I followed my trading plan. In return I will do the same. This can be done end of trading day it will take no more than hour.

I am moderately profitable but not enough to do trade full time.

 

Hi,

 

I'm very curious about what do you mean by "ignoring your stops". You saying you sometimes trade without a stop when you should be trading with a stop or saying you have been removing stops?

 

Also, a trading buddy for discipline reasons is a very bad idea and usually doesn't work unless you resolve the reason why you're not discipline. For example, most discipline problems is related to something that doesn't involve trading.

 

Instead, you should detail your entire personal schedule that occurs prior to trading, during trading and after trading that includes location of trading, details of the trading environment, capitalization, trading instruments, decision making process et cetera.

 

Sort'uv like an in-depth diary of everything you do in the day that's none trading related and related to your trading from the moment you get up out of bed to the moment you go to bed. Have it all written down.

 

Next, to find someone, first only mention your city location, type of trading you do, examples of recent trades and what you offer in exchange. My point is that if you want to fix your discipline problems...it can only be done in person because nobody can enforce you to follow your trading plan via online especially when they have no clues to what's causing your discipline problems.

 

By the way, I've been through what you're going through and eventually I had 3 trading buddies. We rented an office space (big warehouse apartment) and setup shop. I day traded, another guy swing traded and the other did a little of everything. We only took trades from the warehouse office...not from home nor from work. We quickly learned that our trading problems had nothing to do with trading...it was the baggage we brought from our personal life into our trading...stuff that the other trading buddies was able to see...stuff you wouldn't be able to see if we were online trading pals. I did this office trading for several years until I was able to learn more about myself as my personal life clashed with my trading. Took several years to resolve and when I did...my trading made big leaps in profit levels.

 

Traderslaboratory should have an section called "Hook Up" so that traders can find others in or nearby to their city to arrange meetings. This allows for you to meet others going through similar problems, others that have resolved similar problems along with finding trading pals. Yet, when I had that office warehouse space...I met my trading pals through a TradeStation user group meeting (at that time it was called Omega Research). Thus, there's many ways to meet trading pals, you could meet others using the same charting program, same broker, local investment/trading clubs, trade shows in nearby cities et cetera.

Edited by wrbtrader

Share this post


Link to post
Share on other sites
Hi,

 

I'm very curious about what do you mean by "ignoring your stops". You saying you sometimes trade without a stop when you should be trading with a stop or saying you have been removing stops?

 

Also, a trading buddy for discipline reasons is a very bad idea and usually doesn't work unless you resolve the reason why you're not discipline. For example, most discipline problems is related to something that doesn't involve trading.

 

Instead, you should detail your entire personal schedule that occurs prior to trading, during trading and after trading that includes location of trading, details of the trading environment, capitalization, trading instruments, decision making process et cetera.

 

Sort'uv like an in-depth diary of everything you do in the day that's none trading related and related to your trading from the moment you get up out of bed to the moment you go to bed. Have it all written down.

 

Next, to find someone, first only mention your city location, type of trading you do, examples of recent trades and what you offer in exchange. My point is that if you want to fix your discipline problems...it can only be done in person because nobody can enforce you to follow your trading plan via online especially when they have no clues to what's causing your discipline problems.

 

By the way, I've been through what you're going through and eventually I had 3 trading buddies. We rented an office space (big warehouse apartment) and setup shop. I day traded, another guy swing traded and the other did a little of everything. We only took trades from the warehouse office...not from home nor from work. We quickly learned that our trading problems had nothing to do with trading...it was the baggage we brought from our personal life into our trading...stuff that the other trading buddies was able to see...stuff you wouldn't be able to see if we were online trading pals. I did this office trading for several years until I was able to learn more about myself as my personal life clashed with my trading. Took several years to resolve and when I did...my trading made big leaps in profit levels.

 

Traderslaboratory should have an section called "Hook Up" so that traders can find others in or nearby to their city to arrange meetings. This allows for you to meet others going through similar problems, others that have resolved similar problems along with finding trading pals. Yet, when I had that office warehouse space...I met my trading pals through a TradeStation user group meeting (at that time it was called Omega Research). Thus, there's many ways to meet trading pals, you could meet others using the same charting program, same broker, local investment/trading clubs, trade shows in nearby cities et cetera.

 

Great idea....!!!! Is the moderator listening:-)

Share this post


Link to post
Share on other sites

Cattle prod good if I can double my return. Perhaps my problem is sooo unique that no other trader has it. More likely most are too embarrassed to admit it.

Chatting will not help my problem. I have access to traders averaging regularly 30% annual , what exactly will I tell them . ..that I am an idiot?

Share this post


Link to post
Share on other sites
Cattle prod good if I can double my return. Perhaps my problem is sooo unique that no other trader has it. More likely most are too embarrassed to admit it.

Chatting will not help my problem. I have access to traders averaging regularly 30% annual , what exactly will I tell them . ..that I am an idiot?

 

Hi basilakos,

 

In the beginning, most traders have discipline problems and it arguably is one of the top reasons that sabotages a trader's trading plan. Also, as I mentioned in my earlier reply, I've been through what you've briefly described.

 

Also, you've only made 2 message posts. Simply, you're going to need to be "consistent" in discussing your discipline problems here at Traderslaboratory to get a discussion started in such a way that you begin to get some help or find a few tips that could result in finding an "in person" trading buddy. However, very few will take you serious if trading is more like a hobby.

 

Therefore, for those reading this that also have discipline problems that they think prevents them from being consistently profitable, trading for a living or a decent source of income...

 

You're going to need to "consistently discuss" your problems especially as they're occurring in real-time via a chat room or trade journal posted here at Traderslaboratory just like a "personal diary" because it will provide critical feedback at a later date. Thus, is useful until you find help via an "in person" trading buddy that gives that critical peer pressure to break bad trading habits.

 

I've just seen all too often traders that ask for help only make a few message posts and then quietly disappear without making the effort to document their problems to encourage others to step forward with help.

 

Simply, it doesn't matter what the profit level is of those you're chatting with in a chat room or exchanging messages with at a discussion forum...if they're self-absorbed in their own trading or not making any effort to research what's occurring in your own personal trading environment...you're talking to the wrong people. Thus, you're going to need to make a better effort than what you've shown so far here at Traderslaboratory and be consistent in your effort in discussing your problems. In other words, anything less than a well documented trade journal that outlines your discipline problems from one trade to the next trade...trading is just a hobby.

Edited by wrbtrader

Share this post


Link to post
Share on other sites

I have been trading for a few years mostly the equity markets. I am taking a stab at surviving off my trading "income" for about 6months now. I also am swing trading a few accounts. I am open to anyone wanting to email/chat over ideas/strategies. Just shoot me an email mushin2003 @ hotmail com

R

Share this post


Link to post
Share on other sites
Cattle prod good if I can double my return. Perhaps my problem is sooo unique that no other trader has it. More likely most are too embarrassed to admit it.

Chatting will not help my problem. I have access to traders averaging regularly 30% annual , what exactly will I tell them . ..that I am an idiot?

 

Hi

 

I would like to be your trading buddy

Hopefully if you respond to this post I shall send you a private message with my emailid

 

Regards

Share this post


Link to post
Share on other sites
hey i do face the same problem ...i would like to be ur buddy ..

 

Thonsong....This is rforexdad

I have sent you a private message

with my email id

I trade in EUR/USD and GBP/USD

 

Hopefully we can exchange notes

Share this post


Link to post
Share on other sites
Cattle prod good if I can double my return. Perhaps my problem is sooo unique that no other trader has it. More likely most are too embarrassed to admit it.

Chatting will not help my problem. I have access to traders averaging regularly 30% annual , what exactly will I tell them . ..that I am an idiot?

 

basiliakos

 

This is rforexdad

I trade with EUR/USD and GBP/USD

 

Whare are you trading with ?

Equities/Futures/Currencies ?

Share this post


Link to post
Share on other sites
Looking for trading buddy (US Eastern Standard Time). I do swing/position trading (stocks,

etfs, futures, options) . I do not day trade.

My problem is self discipline. Since I trade alone, I often ignore my stops, I take larger position than I should etc. Simply want someone to make sure I followed my trading plan. In return I will do the same. This can be done end of trading day it will take no more than hour.

I am moderately profitable but not enough to do trade full time.

 

My experience with trying to keep each other accountable to each others trading plan is that it turns into a pissing contest. I do infinitely better as a lone wolf. I trade with 100% discretion and constantly interpret new data as it appears. Talking about Obama or what Palin said is a total waste of my time.

 

I recommend you throw your ideas around on a forum like TL since it is easier to turn TL on or off than it is turn your buddy off.

 

If you do not have self discipline in the manner you are describing, you should go back to sim. Moderately profitable is successful. I am not sure how you can be success in the long run if you are ignoring your stops and not managing your risk.

Share this post


Link to post
Share on other sites

trading buddy do not have to be someone you talk to all the time during the market hours.

as a matter of fact, I would prefer not to talk a lot when I trade.

 

a trade buddy can be someone you do your pre-flight with,

or someone you do your debrief after the market.

 

if you do not have discipline to carry out a trading plan,

you have to look inside yourself to find out the underlying reason for such a self-sabotaging behavior.

 

maybe your subconscious self is telling you there are contradicting logics in your plan,

maybe your subconscious self is telling you your analysis is incomplete, or faulty.

 

maybe you need a good fk.

by the market, or whatever.

 

other than a pair of shackles,

nothing can prevent you from doing what you are not supposed to do.

Share this post


Link to post
Share on other sites

Just an fyi, Rforex and I are giving this a try. Here is the way we are going about it..

 

First an intro skype call to cover alittle background, our current strategy, trading plan.

 

Next, we plan at the end of the trading day to send each other some snapshots of the trades we took w/some explanation as to what we saw. The idea is if someone else knows what your plan is they can objectively observe how well are you sticking to it. Also have them check or point out some setups/places that you may need to be less discretionary for you to consider tightening up.

 

I find being solo for days/months on end it is challenging to maintain an objective view of your decision making process.

 

R

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • $SKX Skechers stock great day and move off 36.01 support area https://stockconsultant.com/?SKX
    • $AHT stock big bounce off 5.76 support area https://stockconsultant.com/?AHT 
    • Date : 24th June 2022. Market Update – June 24 – USD & Yields slips, Stocks tick higher.USD slips from highs (USDIndex 104.00), Stocks closed higher (NASDAQ +1.62%) Yields slipped again (-1.66%) after no new news from Powell. Asian shares stronger (Hang Seng +2.24%, Nikkei +1.23%) Oil holds at lows, Gold dipped & BTC picked up. Ukraine gained EU candidacy status. UK PM Johnson’s Conservatives lost the two by-elections, triggering resignation of Party Chairman Dowden. European Futs +1.0%. USDJPY cooled further as NZD & AUD outperformed in Asian session.   USDIndex tested 104.50 yesterday before slipping back to 104.00 now. Equities – USA500 closed +35 (3795), US500FUTS higher at 3824 now. Yields 10-year yield lower, closed down at 3.133% , trades at 3.018% now. Oil & Gold had mixed sessions – USOil rallied to $106.80 before slipping back to $104.50 now. Gold spiked to $1845 again but trades at $1822 now on weaker Yields and USD. Bitcoin continues to pivot around $20K, trades at $20.7k now from a test of 21k. FX Markets – EURUSD tested 1.0500 yesterday now back to 1.0536, USDJPY cooled again to 134.60 now. Cable trades at 1.2270 now, from lows at 1.2170 yesterday, despite by-election results and weak Retail Sales data, UK recession risks are stacking up. Overnight – Japanese Core CPI inline & unchanged (2.1%) SPPI hotter (1.8%) UK Retail Sales a tick better than expected (-0.5% vs -0.6%) but down significantly from 1.4% last month.Today – German Ifo, US New Home Sales, Speeches from Fed’s Bullard & Daly, ECB’s de Cos, BoE’s Pill,Biggest FX Mover @ (06:30 GMT) NZDUSD (+0.49%). NZD out performed today. Rallied from 0.62500 test yesterday to 0.6300 now and a key resistance. MAs aligning higher, MACD histogram positive & rising, RSI 56.58 & rising, H1 ATR 0.00127, Daily ATR 0.00843.Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HFM Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • $KOD Kodiak Sciences stock with a bottom breakout watch above 9.46 https://stockconsultant.com/?KOD
    • $SKX Skechers stock back to 36.01 support area https://stockconsultant.com/?SKX  
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.