Trading with a mood disorder

[robertdaley]

Hi. Trading is doubly difficult for me because I find my mood fluctuates from manic euphoria to deep depression. When I am euphoric I take more risks financially and don't keep to my trading plan's rules. When I am depressed I am timid and fearful and indecisive. Lack of confidence is the main reason why I do not make big money (relatively speaking). I've been trading for five years and feel like I am well on the way if only I could have some control over my moods. I am interested in ideas that could help me. I am thinking of enlisting the help of a trading coach for starters, who can act as a mentor/counsellor.

I want to keep a journal of my trades and my journey but my posts may be sporadic as I am sometimes unable to do so.

Any tips from people who may not be bipolar but simply struggle to manage their emotions would be most welcomed. Cheers. Rob

 

[robertdaley]

Current trade: audnzd long since Wednesday. In healthy profit. Based on daily signal. Anticipating break of resistance up ahead then will add to long position on a retest should a price action signal materialise.

 

[ACstudio]

For me...any trade that causes me to be emotional is too big. Trade small/trade often. I have over 20 position on in EWZ alone. I'm not excited about the Brazilian election either way.

 

[robertdaley]

For me...any trade that causes me to be emotional is too big. Trade small/trade often. I have over 20 position on in EWZ alone. I'm not excited about the Brazilian election either way.

Thx ACstudio. I agree with that, I think I have currently found a good balance between risk being small enough not to care so much and reward being big enough to make it worth my time and consideration. Trouble is there are times when I double my risk and then fear sets in and I normally exit for a loss or small profit. I usually like to have no more than a handful of trades on the go. Thx for being the first poster!

 

[NVP]

Hi. Trading is doubly difficult for me because I find my mood fluctuates from manic euphoria to deep depression. When I am euphoric I take more risks financially and don't keep to my trading plan's rules. When I am depressed I am timid and fearful and indecisive. Lack of confidence is the main reason why I do not make big money (relatively speaking). I've been trading for five years and feel like I am well on the way if only I could have some control over my moods. I am interested in ideas that could help me. I am thinking of enlisting the help of a trading coach for starters, who can act as a mentor/counsellor.

I want to keep a journal of my trades and my journey but my posts may be sporadic as I am sometimes unable to do so.

Any tips from people who may not be bipolar but simply struggle to manage their emotions would be most welcomed. Cheers. Rob

Hi Rob

thanks for such an honest thread..........and I hope people step up to offer advice and help

I'm not a full time trader so take this with a pinch of salt

defining your emotional states as shown is pretty heavy stuff mate .........do you truly mean deep depression ?............jees that's a place you don't want to be trading or not trading ......

so I really think you need to put more markers around these and get a handle on where you are ............a little like those exercises that councillors and mentors / coaches use like scaling .........that will help and i'm sure you are very familiar with this approach

at least you can gauge when you are able to trading rationally and when not ........................also stake levels are very important in managing emotions as you will know well.........

if you do have some medical conditions as indicated ........personally I think you are trying to bravely perfect and master a subject matter that is tough enough even without any emotional hurdles that are placed in your path

it may be that after this time you take a long hard look and find another path to deliver the financial needs you have .........because trading is not an easy path mate ...............it seeks out and reveals every emotional demon we have on a daily basis

N

 

[robertdaley]

Thanks NVP. I know what you mean about how trading reveals our demons. I am so close and yet so far from success. I need to find consistency and learn to hold my nerve. I will triumph I am determined to do so. I've survived horrifying situations through persistence. I know there is a point at which one should call it a day but I am not there yet. I don't need to get rich I have modest expectations. I'd rather have an Mgb roadster than a Porsche lol

 

[darktone]

Hi. Trading is doubly difficult for me because I find my mood fluctuates from manic euphoria to deep depression. When I am euphoric I take more risks financially and don't keep to my trading plan's rules. When I am depressed I am timid and fearful and indecisive. Lack of confidence is the main reason why I do not make big money (relatively speaking). I've been trading for five years and feel like I am well on the way if only I could have some control over my moods. I am interested in ideas that could help me. I am thinking of enlisting the help of a trading coach for starters, who can act as a mentor/counsellor.

I want to keep a journal of my trades and my journey but my posts may be sporadic as I am sometimes unable to do so.

Any tips from people who may not be bipolar but simply struggle to manage their emotions would be most welcomed. Cheers. Rob

Rob.
Have you had any counselling before?
Are you on any meds?
Have you been formally diagnosed bipolar?
Have you done any research into psychology?

I could probably help some > loads, depending on your good self.
Ill send you a pm with details of my fee.

All the best
d

 

[robertdaley]

Rob.
Have you had any counselling before?
Are you on any meds?
Have you been formally diagnosed bipolar?
Have you done any research into psychology?

I could probably help some > loads, depending on your good self.
Ill send you a pm with details of my fee.

All the best
d

I don't mind sharing here, just so people know, I was diagnosed with bipolar over ten years ago and have had numerous bouts of psychosis followed by deep suicidal depression. I am on meds lithium lamotrigine abilify etc. I have had some counselling in the past on emotional issues nothing to do with trading. I have had limited exposure to psychology in the past.

 

[mike.]

Hi Rob, interesting thread, Have you ever considered going down the E.A road ? expert advisors take the emotion out of trading.

You may get just as much kick out of developing / tweaking a trading robot as you would trading yourself. Just a thought.

 

[NVP]

Rob.
Have you had any counselling before?
Are you on any meds?
Have you been formally diagnosed bipolar?
Have you done any research into psychology?

I could probably help some > loads, depending on your good self.
Ill send you a pm with details of my fee.

All the best
d

are you serious ?..........

 

[darktone]

I don't mind sharing here, just so people know, I was diagnosed with bipolar over ten years ago and have had numerous bouts of psychosis followed by deep suicidal depression. I am on meds lithium lamotrigine abilify etc. I have had some counselling in the past on emotional issues nothing to do with trading. I have had limited exposure to psychology in the past.

Thats encouraging.

 

[darktone]

are you serious ?..........

Yep

 

[Trader333]

It is difficult enough for those without this sort of issue to handle trading from a psychological standpoint so this must be even more difficult.

This is going to sound a bit strange but one of the keys to this is to ignore your emotions and trade based on a predetermined plan. If you can maintain the discipline to keep to any plan you have made then there is no reason in my view that you cannot be successful. I would favor swing or position trading as it is much easier to plan for these types of trade than the quick fire decisions that often come with day-trading.

 

[robertdaley]

I don't really know anything about trading robots and my first reaction is one of scepticism. I tend to trade based on end of day signals but I still find it a challenge emotionally. I am excited about sharing my journey and exposing my performance to a greater level of scrutiny. I need a bit of motivation to stick to my plan. Good trading all.

 

[robertdaley]

Well I now have a coach. Super. Darktone will be helping me. I am very grateful to him. I will update this thread with occasional progress reports.

Currently I am a breakeven/small profit trader. I want to start making consistent profits on a monthly basis. Onwards and upwards.

Rob

 

[Pat Riley]

I don't mind sharing here, just so people know, I was diagnosed with bipolar over ten years ago and have had numerous bouts of psychosis followed by deep suicidal depression. I am on meds lithium lamotrigine abilify etc. I have had some counselling in the past on emotional issues nothing to do with trading. I have had limited exposure to psychology in the past.

Have you considered politics?

 

[striker111]

Hi. Trading is doubly difficult for me because I find my mood fluctuates from manic euphoria to deep depression. When I am euphoric I take more risks financially and don't keep to my trading plan's rules. When I am depressed I am timid and fearful and indecisive. Lack of confidence is the main reason why I do not make big money (relatively speaking). I've been trading for five years and feel like I am well on the way if only I could have some control over my moods. I am interested in ideas that could help me. I am thinking of enlisting the help of a trading coach for starters, who can act as a mentor/counsellor.

I want to keep a journal of my trades and my journey but my posts may be sporadic as I am sometimes unable to do so.

Any tips from people who may not be bipolar but simply struggle to manage their emotions would be most welcomed. Cheers. Rob

Hi Rob

I know someone that can help

 

[robertdaley]

Have you considered politics?

Why do you say that?

 

[Trader333]

Well I now have a coach. Super. Darktone will be helping me.

You've struck Gold there

 

[MajorMagnuM]

but search for the gold plated latinum