Trading Psychology

This topic is empty.

Viewing 8 posts - 1 through 8 (of 8 total)

Author

Posts
December 16, 2016 at 4:18 am #101600

Stephen James
Member

My two best books on trading psychology:-

‘Trading in the Zone” – Mark Douglas (the basics)

“The Power of Now” Eckhart Tolle (taking it further)

..because these will happen sooner or later – are you prepared?

December 16, 2016 at 5:02 am #105972

Anonymous
Inactive

Is that PRU in AU? I got caught up in that one in my AU MOC today. That along with MYX (-10.5% headed into close but was -25% at the lows) and a couple other smaller losers.

Awful day…as of now a bit ahead of the close this is the 4th worst day for my system (on a backtested basis) since 2010…a 4.5 sigma event over this period.

Stocks that you are long will tank and that is a reality of trading. As far as the system goes though, nothing broke – and that is what matters – just a crappy day.

If I didn’t have 20 years of simulation data showing a long term positive edge and I had just “theorized” and mechanically tested the strategy, today WOULD break me – off to the next system.

The test results inspire confidence. Carry on, keep placing trades, and things will work out.

December 16, 2016 at 7:08 am #105973

Stephen James
Member

Yes, PRU. Missed MYX.

Absolutely the testing we do provides confidence in systems which helps deal with these days and keep placing trades.

Having the ability to switch to the present moment in times like these, which is what I was alluding to, has helped me immensely. I saw this and got on with the rest of the day’s work whereas in my early years I would have been staring at the screen if I was there like a deer in headlights with all sorts of panic setting in, including the temptation of over riding the system.

This, the testing we do, along with appropriate position sizing and capital management all go hand in hand in managing systems.

December 16, 2016 at 11:09 am #105974

SaidBitar
Member

Me too I have PRU but what to say just one more bad trade

December 16, 2016 at 8:55 pm #105978

Nick Radge
Keymaster

I have PRU too…

…meh…whatever

December 17, 2016 at 1:20 am #105979

TrentRothall
Participant

I’m on the PRU trade too. -33% not ideal.

December 17, 2016 at 4:15 am #105980

JulianCohen
Participant

Trent Rothall wrote:

I’m on the PRU trade too. -33% not ideal.

I was beginning to worry there was something wrong with me but I checked and I have PRU too. I’m happy now

December 17, 2016 at 5:50 am #105981

TrentRothall
Participant

Julian Cohen wrote:

Trent Rothall wrote:

I’m on the PRU trade too. -33% not ideal.

I was beginning to worry there was something wrong with me but I checked and I have PRU too. I’m happy now

Really didn’t need it when i’m already in one of, if not the worst DD of testing/trading. Will see what happens lol
Author

Posts