[DugDug]

Here is an interesting related dilemma that I seem to have developed lately. Its driving me crazy and while I have my own possible solution.... stop trading all together for a while and refresh. I was wondering if FX girl has some other suggestions for this particular ailment.

My problem - I am actually picking the market really well. Bearish equities, bullish bonds - not touching commodities. however I seem to be going to early. ie; rather than being gun shy I am being trigger happy....and hence getting chopped a little too much (the obvious reversal advice from just do it to just stop doing it might be all its needed) however I would be interested in what others do to curb this horrible horrible affliction.

[FXGirl]

Well, it seems with guys that a hardy "just do it" works. So let's see if saying "just stop doing it" works. So, DugDug, "JUST STOP DOING IT!"

On a more serious note, DugDug, it sounds like you are very confident about your trading, have had a lot of successes which are the basis for that confidence. That's all good. So, are you just excited to get in (ie., this is fun), or are you afraid you'll miss out if you don't jump in, or are you at a place where you feel you rule the market?

Until you can tell me more about the reason you are jumping in too soon, try to put a little space in between the impulse to get into the trade and the action of taking the trade. An example of this might be getting up from the desk, walking to the other side of the room and taking a couple of deep breaths before returning to the computer.

Assuming that you plan your trades and are using a trading style that doesn't require split-second reactions, any activity that takes your eyes off the charts for a bit will probably help give you the mental space you need to be more deliberate in timing your entry. If some simple activity doesn't do it and you need serious space, try unplugging your mouse and putting it in another room (or the refrigerator) or giving it to your wife.

One of the best ways to deal with impulsive behavior is to calm your physiology. You can't be agitated and relaxed at the same time. Close your eyes, take long, slow deep breathes - use you diaphragm to breathe, relax your shoulders. Focus your mind on the rise and fall of your abdomen. Keep it up for 5 minutes. This is guaranteed to relax you. If you practice this a couple of times a day, your body will learn what is expected of it. Then, you can trigger this physiological response by simply taking a couple of breaths when ever trading gets tense.

Hope this helps.

[DugDug]

thanks fx girl....
I really have no idea why i am jumping in early.
"are you just excited to get in (ie., this is fun)," - possibly, - they are usually called boredom trades for a reason. But I dont find it fun, I treat this as a business so the answer is NO
" or are you afraid you'll miss out if you don't jump in," MOST LIKELY - I have been picking the moves really well (except corn hurt me the other day and that was a position I built into over a few weeks), so its kind of along the lines of what I thought.... and you repeated - I just need to stop for a while.....walk away altogether - a few deep breaths wont cut it. thanks.
Maybe I will take a few weeks off.
"or are you at a place where you feel you rule the market? "- ha-ha. I have been doing this long enough that I am a great believer that no one rules the market. so NO

Most of the answers are simple - its working the reasons for why we do things that is the tough part.

[DugDug]

yes mother - I am coming now, I'm sorry I forgot your tea.... no I was not talking to anyone, there is no one else here..... arrrghghgghh

[thalestrader]

I find trading to be fun. Unequivocally so.

Best Wishes,

Thales

[FXGirl]

Hi, DugDug: We could root around and find out if not getting chosen for the team or missing the senior prom contributed to your feelings of being left out, but probably your diagnosis is the correct one. Take a break. Have some fun. I hear Morocco and Costa Rica are nice this time of year, depending on whether you like your country green or brown.

[BlowFish]

Originally Posted by DugDug »

No offence FX girl intended - but I just had a laugh at reading this as my girlfriend and I just watched a comedy show about the difference between men and women.

Most of the blokes said just do it, you had a lot of writing about dialogue, talking etc.

All the same thing in the end result.....except most guys are are bit more blunt.
well done rxs

Ego is one of the big obstacles to trading (executing) well. Whether men or women tend to have bigger ego's is probably not relevant to this particular discussion.

[BlowFish]

rxs005, there has been lots of good advice. One thing I did not see mentioned was your plan. I wonder if that is 'solid enough'? You should have built some sort of confidence through sim if you where doing it consistently. If your plan allows too much discretion it is hard to build confidence in it (the plan). You will tend to equate outcomes with your analytical abilities if the plan is not well defined.