How do I stop getting in my own way? - Psychology and Money Management | futures io social day trading
futures io futures trading

How do I stop getting in my own way?
Updated: Views / Replies:3,300 / 41
Created: by Rock Sexton Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Thread Tools Search this Thread

How do I stop getting in my own way?

  #41 (permalink)
Trading for Fun
Lagos, Ikeja. Nigeria
Futures Experience: Intermediate
Platform: MT4, NinjaTrader
Favorite Futures: Forex
Posts: 55 since Apr 2012
Thanks: 13 given, 62 received

Rock Sexton View Post
When you mentioned "psychologically daunting" that's exactly what it is. I didn't properly build my way up into being able to mentally handle it. Within the past couple of months I tried to "force" myself to get used to the idea of bumping up my typical 3,000-5,000 shares sizes to 7,000-10,000 shares.

Ultimately man, I'm getting closer and closer to the realization that to get over this hump I'm going to first need to dial down the worry I have about reserves. Do what I have to do to supplement myself to try and eliminate as much mental noise about that as possible. The second is (again) the fact that I still need to work my way up slowly in terms of position sizes. Just not ready to handle those reigns until I've actually started executing my system the way it's supposed to be. I've been putting the carriage before the horse.

I think @Bermudan Option is right on the money to have asked what capital hence risk sizes you are used to and if you built it up.

This happened to a friend of mine(actually my first Forex teacher), he had been trading for a while and had been consistent but with growing small accounts $2k to $5k, then he withdraws and starts again.
At a point he decided to become a fund manager(the beginning of the end), before long people all over funded his account and he was trading an account of about 80k. Now that means from a 2% risk per trade of about 40 to 100 dollars to a 2% risk per trade of 1600. 1600 - 100 = 1500. That is how much more he was risking, about 1500% sudden increase in risk.
He soon had a bad period and a drawdown of about $15k, this was not uncommon in his trading experience as this was just about 19% of the capital. But 19% of even his former max capital 5000 is just $950, compare that to $15000 and convert it to naira(for he was in nigeria) and you would have found out why he nearly had a heart attack. He had to go back to demo trading for a long while before he got his confidence back enough to trade his old routine.

The point here is, growing your account and increasing it a little at a time, especially with money sizes you are used to is far better and I believe would help in facing the usual trading risks without reservations.

So your past salary(s)/business gains, have been a maximum of $2000 per month, then when increasing your capital with external funds, you might want to increase it with increments of $2000 or even $4000, as you know that you can easily make that with two months of work, and risking any amount of it may have little or no psychological effect on you.

So from a 5k account you grow to 8k, then get 3k fund to 11k trade that for 4 months, grow to 13k, get another 5k fund or even 7k fund to 20k etc, if you calculate this you will see that it is easier to adjust to increasing risk sizes since you are getting used to the sums at your disposal.

It might seem extreme but you may need to save the bulk sum into an account, and try starting from an overall margin you are comfortable with. Perhaps adding more as you grow in confidence with handling larger sums.

Last edited by metobi1; December 30th, 2013 at 09:47 AM.
Reply With Quote
  #42 (permalink)
Trading for Fun
Futures Experience: Intermediate
Platform: ThinkorSwim
Favorite Futures: Stocks
Posts: 120 since Feb 2012
Thanks: 33 given, 96 received

Sitting here watching a Mark Douglas video and he touches on something that I haven't mentioned in this thread ......

Even if I know my system generates a high win rate and the odds are in my favor, I do not know the way in which the wins/losses will be distributed.

That is a very important variable as I've transitioned from day trading to swing trading. I'm taking significantly less trades which equates to less possible opportunity and on top of that I have the "time opportunity cost" of 20 trading days a month to make what I need to make doing this for a living. This then has created the mental situation where I'm not accepting the nature of probability. I begin "expecting to win" and to have immediacy in that win .... if that doesn't happen I begin violating my rules, especially if I've taken on more risk than I'm mentally capable of assuming.

Reply With Quote


futures io > > > How do I stop getting in my own way?

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Upcoming Webinars and Events (4:30PM ET unless noted)

Wyckoff Hunting for Great Risk/Reward Ratio w/Gary Fullett

Elite only

Digging into the Details of iSystems w/Stage 5 & iSystems

Jun 5

Similar Threads
Thread Thread Starter Forum Replies Last Post
Limit vs stop vs stop-limit orders ghl123 Traders Hideout 10 April 29th, 2015 03:01 AM
Best Stop parsamkk The Elite Circle 5 September 21st, 2013 12:17 PM
Ninjatrader strategy for Trailing Stop and stop loss. skann NinjaTrader 2 August 20th, 2013 07:34 PM
Is the "stop limit" used as a protective stop, and what does "off-set" mean shots fired NinjaTrader 2 July 23rd, 2013 02:01 PM
"Stop If Bid" command for entry's and stop loss arjfca EasyLanguage Programming 4 October 7th, 2010 05:05 PM

All times are GMT -4. The time now is 12:33 AM.

Copyright © 2018 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432,
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2018-05-24 in 0.10 seconds with 19 queries on phoenix via your IP