I'm curious how many others experience this problem. For me, it's around four trades.
If I am straight winning, I notice my emotions start to heighten and discipline start to drop so the best thing to do is walk away before I do something against the rules. If I'm losing too many trades, I can feel frustration start to rise up and take a break before I go on tilt and do something stupid. But no matter what, emotions start to ramp too much to trade after five trades for the day. There is a little more too it too... I can feel the objectiveness going away and myself going out of sync with the market.
I usually do my best trading and maintain the best discipline for the longest if I start out with a losing trade.
I want to master the ability to keep myself perfectly together for more than a few daytrades a day.
Here is my normal daytrading routine. I glance at the headlines and weekly calendar fifteen minutes before market open to check for anything important. I watch the market for around 15-25 minutes and check the internals. I start trading once I feel like I am in sync. I have pretty much always traded this way. I allow myself to get in sync with the market before starting to trade. Not to mention, my technicals also need a bit to sync up.
I think that possibly a half hour nap and some meditation at lunch might get me back in the zone for late session. Will have to try some different things...
Last edited by MedianVelocity; December 16th, 2013 at 05:36 AM.
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I was like this till mid-2013... till my (proverbial) 'click' moment.
Now outcomes of individual trades no longer bother me... win or lose it is all the same (and boring, if bored is an emotion).
On Thursday I took a trade with my fixed size and lost FULL, i.e. the max stopout.
I hate losers. I really really hate my losers. But the only action I take is to check if I was at fault or if this was normal variance at work. If it is the later then I accept the loss and move on.
It is the first thing that bothers me. For some reason I did not follow my system and then as a consequence, I lost (the most expected outcome).
Then it is time to get back into the zone, a mindful place (not a calm place, not a timid runaway, not a craving-to-be-back-into-positive-territory, not positive thinking) - simply AWARE.
I take my next trade when that happens... essentially I have reset myself and not allowed previous outcomes sway me.
The only problem is that this has taken me all of five years to taste a limited bit of mastery - first there is the market to understand (when to trade, when to stay out, when to exit) and then there is yourself.
So I see myself going on and on and on.... there is essentially no 'endurance test' because you move with the market in a tango and pause to take rest, improve.
All I wish to say is that: The limits are superimposed by a superficial ego.
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