TheRTTrader
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crystalballs said:
Which about half sums it up. The other half is once you know what you are doing, then the whole idea is to be as constant emotionally as possible, as any emotional high or low will distort your ability to act properly in the contect of what you should be doing. When you know what you are doing, i.e have a method or system that works, then you also know it is all about getting the odds in your favor and that on balance and you will do well. So what happens on a daily or weekly basis should be irrelevant to ones emotions. No one likes losing, but you can't let it get you down or make you lose confidence. And don't get real up over good gains. What we traders do is a grind. When my wife gets home from work she never knows whether I have had a good day or a bad day.
Good trading,
Russ
Very true. The aim is to be as emotionally neutral as possible, whether having had a winning day or a losing day. Step back and see the bigger picture. Difficult to do, but all part of the challenge. Incidentally, does your wife know (or care) about any of your individual trades? Does she walk in the door and say "Is the dollar down against the euro" or "is microsoft up again?" I always think it is important not to involve others, especially spouses. Controlling ones own emotional response is enough to deal with, let alone others...
TheRTTrader
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Pippppin said:
Good point - she tends to feel bad when I have a losing day and get all excited when I am on a roll. She follows very little specifically, except what I trade for her IRA account. So "'how was your day" getsan "OK," " pretty good," "not so hot." and generally left at that. Since I trade for a living there is some practical need to know on an ongoing monthly basis. LOL.
" Step back and see the bigger picture. Difficult to do, but all part of the challenge."
My point was the big picture should never get distorted by what happens in a day.
Russ
Russ....trading from home can make what we have been saying more difficult. Somehow trading/working in an office makes it easier to shut off mentally at the end of the day. However, when trading from home it makes the emotional challenge harder I think.
Priceman
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Definitely agree, I am trying to do this at the moment while waiting for my misses to drop the sprog. Not ideal, it's always me having to take the dog out, he always needs taking at opening or closing hours of either Europe or UK ! Just not with it at the mo, not 'in the zone'Pippppin said:
TheRTTrader
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Pippppin said:
You are proably right - except my day is 12 hours, with mid day breaks and a hour for dinner, it runs ca. 8AM to 8PM. So home is practical and comfy... Winter sweats, Summer as little clothes as possible... and only 6 steps to get to work ... [
