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Life Without Trading

  #19 (permalink)

Glasgow, Lanarkshire Scotland
Trading Experience: Intermediate
Platform: Jigsaw Daytradr
Broker/Data: Working my way around them all
Favorite Futures: ZN, ES
Posts: 52 since Apr 2016
Thanks: 57 given, 46 received

MarkB View Post
First of all, you made $1100 last for one year. That's pretty spectacular. You should feel good about that.

However, trading is not about making money - trading is about trading well. Does a construction worker think about how much $$ he's making while he's paving a road? No, he thinks about paving the road properly. And a surgeon is not concentrating on his paycheck while he's operating, he's focused on performing the operation without endangering his patient. In the same way, the objective of trading should be to do the job of trading well, not to make money. If you're trading money or your p&l, you're doing it wrong.

That being said, I don't think you're being logical with your expectations. You've intimated that you don't have enough time and are not adequately capitalized to continue and that your sense of self is suffering because you haven't been able to succeed... these are pretty obvious red flags. Disconnect emotionally and refocus. Order flow is fast and exciting but it's very evocative and the learning curve is steep. Perhaps slowing things down to a longer time frame would help to reduce the emotional impact and enable a more rational approach to what you're doing and what you hope to accomplish.

Just my $0.02.


In actual fact - I guess I made $600 last the year as I stopped trading at $500 as that was the day trading capital requirements for my broker. I'm pleased it lasted that long to be honest and the sentiment of the original post wasn't really about feeling blue about that loss, more about the clarity of the bigger situation.

I understand what you mean with regard to timeframe. For me though, having tried the longer timeframe game I don't do too well with it. Order Flow as you say can be exciting, but it can also be boring, it's entirely dependent on the market of choice and time of day, volatility profile etc. I don't like Order Flow because it's exciting, I like it because it feels like i'm trading based on reading what's actually happening. I found that when I was trying to trade off of longer timeframes it was always in tandem with some technical analysis model that I didn't ultimately have faith in. This is of course, entirely just my perspective and not intended to cast dispersions on any other trading method.

This discussion has already helped disconnect emotionally as you say, it's good advice. In fact I think this offshoot of the discussion is interesting. With so much being said about trading psychology I've bought into and since sold out of the idea we should be mechanical automatons that trade independent of any human emotion. In fact, I think our emotional state can tell us a lot about how we are behaving.

Many times my emotions have helped me get out of a trade quickly because it highlighted something amiss, I actually find being aware of my emotional state much more helpful than just detaching from it now. Granted, this is after much learning and falling foul of a variety of human faux pas!

As ever thanks for the help.

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