Thursday, March 12, 2009

Update

Yesterday I had another irrational development in trading accompanied with a sizable loss. I made new plan after that, but today I realized that nothing was wrong with my previous plan. If I enter in a state off unconsciousness when I trade and do stuff against my will no plan will help me overcome this. It's more structural. So I'm from this morning in shut down mode that I had few times before. That means I'm not trading, I don't have time schedule when will I start trading or will I start trading. That doesn't mean that I don't want to trade. Deprivation of that kind is doing me good. I'm not feeding my problem with new energy and also I'm more arouse of dealing with it because I'm deprived of something that I love.

8 comments:

Jules said...

Hi FX,
I don't quite know what to say...been there and know that what you need is time. If it's any consolation, I've been feeling like I should stop trading too. Was just taking a break earlier and going through some scenarios in my head, and realized that there was really nothing quite wrong with the way I traded before. At least I was consistent - I mean I have a nasty episode now and then, but all I need to work on is really just the discipline to stick to my stop. Changing method and strategy almost immediately mess up the psychology.
Take the time to do something more fun than trading :-) Come back with a fresh mind and renewed energy. Stay positive.

MarcoA said...

Jules makes a good point about switching systems etc. I've noticed that I can be super dedicated to one method for months on end, but if I decide to change, It's hard to regain that same level of focus. I notice this in others too - the act of switching takes up alot of energy.

ORION MACHINE said...

Hey my friend, I think we all definitely know how you feel... Trading has been tough for me too, but yes, I agree with Jules and MarcoA, do not change your system or plan. Just get completely away from trading and it will do you good. It always does me good to get completely away.

FX said...

Hi and thanks all to your response. I plan on completely cutting trading off now. I will not even look at any kind of charts. I will be in trading darkness. Only thing that I will left in is reading blogs because it's pleasure of it's own kind now, just like reading morning papers with coffee.

StockHunter said...

Taking a break can be good, I've been more or less taking a break from stocks the last 2 days myself.

Anonymous said...

If you keep trading like "cut the winners short and let the losers run", then you're eventually out of the game. don't you see your trading result end up like forexspirit.com

FX said...

@stockhunter
Your forex trading is starting to get interesting. I like it more than any of your stock trading, that's just my opinion.

@anonymous
Well I understand that. I don't have problem in luck of understanding.

StockHunter said...

Thanks, I'm liking it so much I got the ball rollin on a real account with oanda so hopefully you'll be seeing real trades within a couple weeks :).