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I think that goes for any type of trading Len…With discretionary though you have the ability to stop the pain by exiting…only to feel renewed pain when the markets go back the next day and you aren’t in it
Either way, trading is a test of emotional fortitude more than anything else. I just find I’ve done it the discretionary way and I know for sure it doesn’t work for me…
As an old mate of mine said…”it’s all horses for courses” Everyone takes their own line and if it works for you then that’s the important thing.
The forum is a great place to rant though…gives you a chance to write out your fears and by doing that exorcise the demons
Len, your feelings are completely natural and just showing you understand your environment.
Agree with Julian, it helps being there to share with evreybody, and witnessing our stuggle/doubts are not singular.
If despite all of this, your risk tolerance hurts you too much, reducing position size (by 1/3) can be an option as long as you dont cross the line by changing the philosophy/concept of your current process.
My personal worry is how I will behave when will come the time to apply the stops, freezing a DD of circa20%, when knowing that since the last 2 years you have central banks rescuing all stupid people in the market that do not apply proper risk management. ( like in Dec 2018 and March 2020)
As I said, we all have our demons
cheers!
Omar
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