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Modification in trading habits to start being profitable
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Modification in trading habits to start being profitable

  #1 (permalink)
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Modification in trading habits to start being profitable

What did you changed to start being profitable?

*(Did ask the same question on Forex Factory
http://www.forexfactory.com/showthread.php?p=5113033&posted=1#post5113033

You are successful now, but probably, like many of us you did struggled and suffered before.

So my question is around your pivot" or triggering on the winning side. What did you change. You probably have done something different or change an psychology aspect in the process

Any input appreciated
Martin

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  #3 (permalink)
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I once asked the same question how a guy changed from living on his gf credit card to making 2k/day consistently. he said nothing change. I take it he meant he didn't change his method.

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  #4 (permalink)
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A colleague of mine showed me a series by a guy called Mystery who is a pick up artist, watching that has changed my trading for the better. Seeing those guys working a process then following it and getting success and not when they deviate made me really think and apply it to my trading.

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arjfca View Post
What did you changed to start being profitable?

*(Did ask the same question on Forex Factory
What did you change to start being profitable? @ Forex Factory

You are successful now, but probably, like many of us you did struggled and suffered before.

So my question is around your pivot" or triggering on the winning side. What did you change. You probably have done something different or change an psychology aspect in the process

Any input appreciated
Martin

Good question Martin.

In my experience, there wasn't any line in the sand, clearly defining profitable/unprofitable trading. It was a slow process, moving from (un)conscious incompetence towards unconscious competence, which usually takes a great deal of practice.

Some traders say that analyzing what you do wrong is helpful. For me the opposite was true. Only when I focused on profitable setups, I shared some a-ha moments. It will have a positive mental effect too.

"We may not be able to control the wind, but we can always adjust our sails"
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The big difference for me was when I stopped listening to other people. At some point I realized that even if you listen to someone who is a great trader you can't follow them successfully for a number of reasons. That didn't really apply to me as much as just plain being distracted or just being "mind-fcked" if you know what I mean. Once you have a system that works ....just do it and don't listen to anyone else or take thier advice (trade advice that is) . Without a doubt and by a huge margin...listening to others has cost me more than anything else.

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kbit View Post
The big difference for me was when I stopped listening to other people. At some point I realized that even if you listen to someone who is a great trader you can't follow them successfully for a number of reasons. That didn't really apply to me as much as just plain being distracted or just being "mind-fcked" if you know what I mean. Once you have a system that works ....just do it and don't listen to anyone else or take thier advice (trade advice that is) . Without a doubt and by a huge margin...listening to others has cost me more than anything else.

I actually started listening to others.... but on the fundamental basis. From the method perspective, changed nothing. Psychologically changed everything. Just meant i actually started following my method the way it is supposed to be done. And how i done it, through lot's of pain. Simple thing was realization of importance of discipline and patience. Getting confidence that right trades will happen. And that all controlling factors of mine are well position to deal with the worst of the markets. The last bit i achived by doing a lot's of simulated trading and recorded sessions and traded paper and analyzed outcomes, while at the same time live trading situations that i gain the confidence in already, till my confidence and trust into my self did not simply come my way as result of this.
As well grasping position sizing and getting it into my stupid head helped a lot (scare money, over leverage, over exposed )
And then family jumping on board. My wife was a biggest enemy of my trading (while i was loosing money) once i started making profits playing $1 and $2 per pip which equaled to couple of hundred dollars a week only, and taken her on journey and explained her the trading and effects on our life in basics, and then she jumped on board as well (not by trading) but now i get coffee and cake rather then a blody storm, made things easy, to be relaxed and focused as needed to be....

Everything impacts our mental state, we usually forget about family, but they suffer with you as well, cus time we spend trading we dont spend with them, and if they creating additional pressures on you... huh can be difficult....

Last but not least, got an office of my own. I used trade in study @ home, with three little kids, it was mission impossible, there was no way i could keep them away from disturbing me. So educating the familly that when you trading, you are actually working and you need to be left alone was a big change for me. My wife was used to thinking of when i am at home i am not working and i am at her disposal... Trust me that did not sit well with me trying to trade

Markets are logical and
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  #8 (permalink)
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sinisa View Post
I actually started listening to others.... but on the fundamental basis. From the method perspective, changed nothing. Psychologically changed everything. Just meant i actually started following my method the way it is supposed to be done. And how i done it, through lot's of pain. Simple thing was realization of importance of discipline and patience. Getting confidence that right trades will happen. And that all controlling factors of mine are well position to deal with the worst of the markets. The last bit i achived by doing a lot's of simulated trading and recorded sessions and traded paper and analyzed outcomes, while at the same time live trading situations that i gain the confidence in already, till my confidence and trust into my self did not simply come my way as result of this.
As well grasping position sizing and getting it into my stupid head helped a lot (scare money, over leverage, over exposed )
And then family jumping on board. My wife was a biggest enemy of my trading (while i was loosing money) once i started making profits playing $1 and $2 per pip which equaled to couple of hundred dollars a week only, and taken her on journey and explained her the trading and effects on our life in basics, and then she jumped on board as well (not by trading) but now i get coffee and cake rather then a blody storm, made things easy, to be relaxed and focused as needed to be....

Everything impacts our mental state, we usually forget about family, but they suffer with you as well, cus time we spend trading we dont spend with them, and if they creating additional pressures on you... huh can be difficult....

Last but not least, got an office of my own. I used trade in study @ home, with three little kids, it was mission impossible, there was no way i could keep them away from disturbing me. So educating the familly that when you trading, you are actually working and you need to be left alone was a big change for me. My wife was used to thinking of when i am at home i am not working and i am at her disposal... Trust me that did not sit well with me trying to trade


I guess I went through some of that as well, distractions and all. I traded with some other people for a while and it wasn't until I got away from them that things greatly improved. The only concern I really have now is falling back into that situation by being bored and getting to involved with other traders if you know what I mean. Trading can be real lonely sometimes so I guess that's why I spend so much time here at futures.io (formerly BMT).

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kbit View Post
I guess I went through some of that as well, distractions and all. I traded with some other people for a while and it wasn't until I got away from them that things greatly improved. The only concern I really have now is falling back into that situation by being bored and getting to involved with other traders if you know what I mean. Trading can be real lonely sometimes so I guess that's why I spend so much time here at futures.io (formerly BMT).

Ohhhh so much agree with that. Other peoples emotions so can impact us badly it is unbelievable. I used to have 5 trading bodies, and that was when i was loosing money. When i got rid of them everything changed, i felt as if huge weight fall of my back....

I have now two trading buddies, the way we do it is we catch up before the session start (around 1PM AEST) Australia does have some advantages and just have a nice chat, and then we conference in during the session, understanding that mute might be on and do not disturb while trading.....

Markets are logical and
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aediaz1 View Post
Good question Martin.

In my experience, there wasn't any line in the sand, clearly defining profitable/unprofitable trading. It was a slow process, moving from (un)conscious incompetence towards unconscious competence, which usually takes a great deal of practice.

Some traders say that analyzing what you do wrong is helpful. For me the opposite was true. Only when I focused on profitable setups, I shared some a-ha moments. It will have a positive mental effect too.

I like this one
 
Code
"We may not be able to control the wind, but we can always adjust our sails"
Martin

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