After trading on and off for almost 5 years, I am finally getting consistently positive results. However, one of the way i have achieved this result was to drop off the face of trading earth and no longer read/participiate in forums etc... like many trader, i was constently looking for new systems, spending way too much time looking for the holygrail. I would also lose confidence and close my trades at the wrong time because for example i was long ES and someone on Stocktwits said they were bearish etc.... i even stopped contributing to my journal here because i felt like it was unfluencing my trading throughout the day.
the only "guru" i pay attention to is Al brooks, and even then i often see the market differently and trade differently from him. Basically the main 2 rules of his that i go by are the "i dont care size" and "you can make money long or short on 90% of all bars". So I buy or sell (ES), scale in and use a wide stop.
What brought me to write this thread was that while disappearing from the social trading scene has finally made me profitable, it has also made trading a lot less fun than it used to be.
Has anyone gone though a similar path with trading? and if so how did you manage this? i am thinking that since i now have a lot more confidence in myself than before, i could maybe start communicating with other traders again (like i am starting to do here) without being so easily influenced by them.
The following 4 users say Thank You to reno57540 for this post:
Hi there Reno. Personally I have not been influenced by others. I think I've always been 'suspicious' of people volunteering forecasts such as 'this instrument is going down or up', especially if considering who says that may have a vested interest in doing so.
I have a slightly different issue, which is, if I look too much or too often at a chart I will start seeing things that are not there. So I trained myself to emotionally detach from the screen after a while.
Doing this day in day out has helped me. It's a way to say to myself 'don't read too much into it'.
Not sure if it helps or not.
The following user says Thank You to xplorer for this post:
Thanks for the reply! i used not only to be influenced by vendors and the like, but also by other honest traders simply sharing their views of the market. Often I realized we were both right as long as the trade was managed well. So Now i often just pick a direction and manage the trade accordingly.
I try to take breaks from the screen myself, there is no way i could just sit there and watch every bar of the 5 minute chart throughout the day. I often take a break right after i enter a trade, to force myself to let it play out and not micromanage it.
The following user says Thank You to reno57540 for this post:
I think you're trading well now because it's been 5 years, not because you were off the forum. 5 years of trading experience is a huge milestone. I casually browse and participate in some threads of interest now. I don't care too much about posting trades. I just play my game. Over the years I've found one friend who I exchange ideas with offline. Can't say I have "fun" trading. It's my passion. I aspire to be great. I love it but it's not a sport. I'm pretty neutral. I have fun kayaking, golfing, climbing mountains, fishing, camping.
Strategy ≥ Money
The following 3 users say Thank You to Massive l for this post:
I understand what your saying I think. I believe that whether it required going into the wilderness or not, traders who make money have independently thought about and organised the 'first principles' via their own thought processes. On this forum you see so many who think if they copy someone successful they will have riches etc. They don't have the spark of talent (yet, maybe ever), depth or commitment.
Personally I posted very little until last February (started a brief journal) and have not shut up since. Recently I have accepted that I have not connected with anyone who could be considered a 'peer' or even barely an equal in terms of revenue. I'm an all weather sailor due to extreme screen time. I have been through doldrums (last World Cup) as well as epic days. There may be a few who I would like to talk to but I can't think of a worthwhile question to ask, my own failing
I can accept that I have not found anyone I can connect with and learn from or with. I have tried to teach a little however it is not very satisfying only speaking. For me its time to step back to following the hamburger thread and such, becoming a "lurker" again
These things come in phases, I hope you enjoy your re-engagement with FIO society and it is productive for you.
The following 4 users say Thank You to Rory for this post: