My experience with the V word is a terrible case of whipsaw. Volatility up sooner or later is volatility down. When you get on a trade in the direction of volatility it is a great multiplier but gee if you hit the button when volatility reverses then your stop loss could get some (serious) slippage.Oh and Wysiwyg , my signature leads to the yellow brick road
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My experience with the V word is a terrible case of whipsaw. Volatility up sooner or later is volatility down. When you get on a trade in the direction of volatility it is a great multiplier but gee if you hit the button when volatility reverses then your stop loss could get some (serious) slippage.
You're right Tech. My timing is terrible and my fear levels are hitting the roof.That's your execution
You're right Tech. My timing is terrible and my fear levels are hitting the roof.
You're right Tech. My timing is terrible and my fear levels are hitting the roof.
Suggestion: Calculate your net trading capital. Withdraw 0.5% of it and go to the casino and play a few hours of blackjack. As you play,try to understand what "letting go of fear" really means. You have to mentally write off the cash as "gone and irretrievable" and yet still play, hand after hand after hand. That's what trading requires. If there's even the tiniest desire for the cards to fall your way, or fear that they won't, then you're not doing it correctly. Complete and utter carefree abandon combined with methodological precision. If you start to win, notice the tension creep into the body and get back to not caring. Then recall it for Monday's trading. If you lose and start to feel badly stop and walk away, regain composure and start again. You can't win feeling badly. Find an aspect of the game which interests you (other than the win/loss aspect).
GB , great post.
Not sure what going to a casino playing blackjack has to do with trading
Forget about statistics and house edge for a minute. Consider two guys playing against each other in blackjack. They have identical experience, bankroll, bet size, skill and knowledge. One of them is happy and relaxed, the other is miserable and tense. The odds are stacked firmly in favour of the relaxed, happy guy. This is the psychological edge, and it is hugely influential in determining the bottom line.
If I'm staking against an opponent with unlimited funds and a known edge I'm being reckless
If I'm Kerry Packer with unlimited funds and no fear of loss I can win purely by being lucky with size.
But I'm gambling.
If I'm trading with an edge I'm not gambling.
I'm running a business. Just as any casino is
Reality is confronting but it is the only TRUTH
For those who dismiss the importance of trading psychology, I doubt your trading ability.
One of those rare occassions I agree 100% with you
Before AI have a mind of their own, there is ALWAYS human input behind ANY mechanical system. The temptation to alter rules is always there, the doubt to hold through draw downs is always there, the greed to increase position size/trade more markets on good runs is always there. Not to mention human factors that is always present hindering performance of every trader - nagging partner, sick child, fat finger typing input mistake, coding error, technical outages.
Any that claim they have no emotions are machines - therefore you are not motivated by money but only sole existence is to follow orders programmed upon you.
I'm not motivated by money
I'm motivated by the challenge and the acceptance of that challenge.
Success or failure is measured in P&L
But P/L IS money ?
Fascinating..let me know why you think P/L is not money - real or demo.
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