Seems to be a trend this week; the problem I identified last night when taking a good break during dinner is my impatience / refusal to accept reality. Because the nature of the markets is effectively limitless, hours of watching the charts is hypnotic and tends to result in my psychological regression. I become more immature, a child-like personality comes out (perhaps like when I was 18-19 years old), traits such as impatience, spitting the dummy, refusal to accept reality.
The funny thing is: as soon as I step away from a bad trading situation for a few hours, all of these negative traits disappear as my "normal" mature adult self returns. This "other" personality is very trading-situation related.
The funny thing is: as soon as I step away from a bad trading situation for a few hours, all of these negative traits disappear as my "normal" mature adult self returns. This "other" personality is very trading-situation related.
It took me years to grow up from a 18 year old punk, god forbid I have to do the same as a trader. One side I do not need to is the technical side, because I already know how to trade proficiently from my accumulated experience. I have seen too many good rallies kick off (where I thought "yep this is going to go") in the past week/month to know.
Result: Had a terrible Thursday and Friday, but somehow I am slightly net postitive for the week despite a bad week overall. There were a lot of trades I should not have taken, and these losses were the root cause, because they:
- initially set me on a back-footing to which I must spend time climbing back up;
- erode my confidence which affects has a double effect of making me exit early; &
- erode my confidence to not take trade which end up being monster rallies; &
- induces me to lose discipline and implode (see sector 8 & 13 Friday).
Friday
Thursday
No comments:
Post a Comment