[lrushing]

Identify each emotion - postivie or negative that will have a dramatic impact on your daily trading activity. Associate with each emotion, a set of action steps you will take and adhere to once the emotion is identified. Combine your emotions and action steps with your trade execution to assist you with developing new habits while eliminating old or bad ones.

For example, if you find that after a losing trade or series of bad trades, you get anxious to get back in the market, i.e., revengeful, set a rule to change and reduce your position size to indirectly assist you in risk management and protecting your capital. Another example, might be to pre-determine how much of your profits you are will to continue to risk in the market after reaching a daily target, hence helping address the emotion of "greed".

[walterw]

Originally Posted by lrushing »

Another example, might be to pre-determine how much of your profits you are will to continue to risk in the market after reaching a daily target, hence helping address the emotion of "greed".

Super topic Irushing... you see we had some discussions here in terms of calling a day after making a daily target.... I persoanlly do so, and normally If I keep trading I will start giving back my gains.... so I normally call the day when I make my daily target...

I think greed normally is as bad as fear... so putting a number to my greed has helped me a lot... also when the month finishes its also nice to see all numbers as expected...

Irushing : do you use daily targets ? cheers Walter.

[lrushing]

For swing trading stratgies, I use 65 minute charts, daily charts, and weekly charts in a multiple timeframe approach.

[walterw]

Originally Posted by lrushing »

For swing trading stratgies, I use 65 minute charts, daily charts, and weekly charts in a multiple timeframe approach.

I mean daily $ targets...