I'm definitely going through something that's feeling a tad like "buyer's regret". I'm regretting buying into the idea that I can actually follow any rules!
So now that I've set myself up to think like a disciplined trader, I haven't the slightest inkling how I'm going to go about pushing the buttons! Was watching some forex charts the whole day, and noticed that I couldn't trade at all once I put on the "disciplined trader" hat!
That got me thinking about how I made money consistently in the months preceding Dec 08. I noticed that although I did go into the market with a general plan, I hadn't a plan for individual trades. And for the most part of those months, trading was STRESSFUL. Then came Dec when I decided that I wanted to go for stress-LESS trading, and that was when things started getting messy. I started looking for confirmation (while previously I traded on the assumption that a pattern was going to develop) of patterns, and had become less willing to sit on a losing trade even though the pattern I went in on was not busted yet.
I'm really starting to believe that trading profit is very hard earned money! Granted that trading is definitely not a laborious activity, it is by no means an easy job! Once I want my life to get a little cushier, I get punished!!
I'm caught in a very difficult situation now. I've not even really begun to follow my new trading plan, and I'm already doubting that it'll work for me.
Will see how it goes today.
So now that I've set myself up to think like a disciplined trader, I haven't the slightest inkling how I'm going to go about pushing the buttons! Was watching some forex charts the whole day, and noticed that I couldn't trade at all once I put on the "disciplined trader" hat!
That got me thinking about how I made money consistently in the months preceding Dec 08. I noticed that although I did go into the market with a general plan, I hadn't a plan for individual trades. And for the most part of those months, trading was STRESSFUL. Then came Dec when I decided that I wanted to go for stress-LESS trading, and that was when things started getting messy. I started looking for confirmation (while previously I traded on the assumption that a pattern was going to develop) of patterns, and had become less willing to sit on a losing trade even though the pattern I went in on was not busted yet.
I'm really starting to believe that trading profit is very hard earned money! Granted that trading is definitely not a laborious activity, it is by no means an easy job! Once I want my life to get a little cushier, I get punished!!
I'm caught in a very difficult situation now. I've not even really begun to follow my new trading plan, and I'm already doubting that it'll work for me.
Will see how it goes today.
3 comments:
Don't doubt that it will work for you, explore it with an open mind. The only way to test it is to give it 100% (effort, discipline etc) and then - after an appropriate number of trades - analyse the results.
I know I'm boring, but I *may* be at least partly right :-)
Hi Jules
Have a read of the Impulse Factor - it may give you some ideas on how to trade impulsively, successfully and stresslessly
ray
Hi UncertainFutures (can I call you UCF?),
Great to see you here :-)
Yup, I did make an effort yesterday, and hopefully, I will do it again today, and tomorrow...I expect it to become a habit by the end of the month :-)
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