In need of a coach/mentor/advice for keeping calm and confident in a trade - Psychology and Money Management | futures io social day trading
futures io futures trading


In need of a coach/mentor/advice for keeping calm and confident in a trade
Updated: Views / Replies:1,789 / 13
Created: by emptymind Attachments:1

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 100,000 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 – 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 don’t 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

Reply
 1  
 
Thread Tools Search this Thread
 

In need of a coach/mentor/advice for keeping calm and confident in a trade

  #1 (permalink)
San Diego California
 
 
Posts: 129 since Oct 2015
Thanks: 23 given, 50 received

In need of a coach/mentor/advice for keeping calm and confident in a trade

I've been trading for 8 years since I graduated high school and the stock market crashed in 2008.
I am a trader that thrives in high volatility environments(2011,2015) instead of just trending markets like 2013.

Anyways, I have created edges for myself in pinpointing key levels in which the future indexes tend to reverse.

However psychologically lately maybe because my account keeps dipping low into margin&PDT levels, it makes me more fearful in a trade since I don't want to have to add deposits to continue trading.

For example in today's morning session(10/20/2016), I shorted the YM pretty much near top tick but was SCARED AS HELL since the market had such a strong move up from the open and some of the traders in the chat room was long.
I was the only one shorting and seeing the move the market made, I only got out for a few ticks profit.
Low and behold after a few minutes goes by, it drops 100 ticks. I also bought the low after the dip, but by taking as long as it did to go higher, I was just happy with a few ticks of profit.

Anyways I am in a dire need of a mentor psychologically to keep me focused and calm emotionally. I have the edge, I just need the discipline and confidence to almost be robotlike. Thus, I am not looking for a handout from an experienced trader to teach me all he knows, I just need to change my mindset.

Reply With Quote
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Omaha, NE/USA
 
Trading Experience: Beginner
Platform: S5 Trader; Jigsaw; TOS
Broker/Data: Stage 5
Favorite Futures: ZN
 
johny1971's Avatar
 
Posts: 107 since Sep 2016
Thanks: 220 given, 97 received


Check out he FT71 webinar series that was just completed. Also, for coaching that costs check out Adrienne Toghraie. Her Webinar Modeling Top Traders has someone fundamental info for beginners, but has plenty of ideas that perhaps anyone could use.

I have yet to trade live, but I can appreciate your post. It reminds me to be prepared to stick to my trading parameters. I have a hard time saying plan as I am looking at discretionary trading.

Reply With Quote
The following 2 users say Thank You to johny1971 for this post:
 
  #4 (permalink)
 
 
Posts: 2,743 since May 2014
Thanks: 5,444 given, 8,140 received

You might consider doing charity work with the poor. It can be a good way to deal with atychiphobia etc.

Bad trades are like encountering conflict with a person or a problem not in your comfort zone. Facing into awkward situations without procrastination is a skill like any other to be developed and few do this. Use it or lose it is my experience.

A robot-like state is not very realistic, sometimes large account traders who are risking very little proportionately to account size seem robotic... but.. Seeing what happens to the ice cool on their last 10-20k would reveal a lot.

You will find many (emotionally normal) successful traders have robust backgrounds that armor them a bit more if they keep involved in the world.

Reply With Quote
 
  #5 (permalink)
Omaha, NE/USA
 
Trading Experience: Beginner
Platform: S5 Trader; Jigsaw; TOS
Broker/Data: Stage 5
Favorite Futures: ZN
 
johny1971's Avatar
 
Posts: 107 since Sep 2016
Thanks: 220 given, 97 received


Rory View Post
e. Facing into awkward situations without procrastination is a skill like any other to be developed and few do this. Use it or lose it is my experience.

For overcoming this check out The Obstacle is the Way by Ryan Holiday. This book changed me - for now at least, so, maybe about 3 months. And, I realize that sounds so trite, but this book has pushed me through many of the everyday head winds. It is about perception, action, and will. Short and quick to read, with many interesting anecdotes. Get it done!!

Reply With Quote
The following user says Thank You to johny1971 for this post:
 
  #6 (permalink)
Ojai, USA
 
Trading Experience: Advanced
Platform: Abdominal Plank
Favorite Futures: Energy
 
zmaj's Avatar
 
Posts: 721 since Jan 2016
Thanks: 431 given, 981 received

TRADING 101!

I'd say that knowing how to trade is as knowing how to fly an airplane! Just as the pilot knows an airplane and the weather conditions.
Trader must have a checklist and know the set up.


Attached Thumbnails
In need of a coach/mentor/advice for keeping calm and confident in a trade-fear.jpg  

Last edited by zmaj; October 21st, 2016 at 03:45 AM.
Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to zmaj for this post:
 
  #7 (permalink)
Boston, MA
 
 
Posts: 264 since Apr 2014


zmaj View Post
I'd say that knowing how to trade is as knowing how to fly an airplane! Just as the pilot knows an airplane and the weather conditions.
Trader must have a checklist and know the set up.

I would never trust that pilot to fly me to a destination. He is doing his pre-flight checklist through memory, and not from an actual written-down list.

I don't care how many tens of thousands of hours he may have as PIC under his belt in the same-type aircraft...You ALWAYS read from your written checklist.

Just like trading...Yes?

Reply With Quote
 
  #8 (permalink)
 
 
Posts: 2,743 since May 2014
Thanks: 5,444 given, 8,140 received

The morning checklist for a pro trader goes like this:

1. Coffee
2. Internet works

If you need to read that from a list, a career as a carrot might be brighter and more rewarding.

My point being that if one develops and maintains the correct persona, one can handle almost anything without effort. Less is more, those who add rules and then more rules are likely to choke on them at some stage. The fear and anxiety centres of the brain learn from doing in the real world, not thought experiments performed by the conscious mind. They are barely connected to conscious thinking, more like panicky passengers that share the senses.

If you can face stressful things in the real world, trading is straightforward. If you cannot, no amount of arranging your pens and pencils before the exam will help.


Last edited by Rory; October 22nd, 2016 at 03:36 PM. Reason: typo
Reply With Quote
 
  #9 (permalink)
London
 
Trading Experience: Intermediate
Platform: Sierra Charts
Broker/Data: CQG
Favorite Futures: ES, CL
 
Posts: 569 since May 2016
Thanks: 1,061 given, 440 received


emptymind View Post
I've been trading for 8 years since I graduated high school and the stock market crashed in 2008.
I am a trader that thrives in high volatility environments(2011,2015) instead of just trending markets like 2013.

Anyways, I have created edges for myself in pinpointing key levels in which the future indexes tend to reverse.

However psychologically lately maybe because my account keeps dipping low into margin&PDT levels, it makes me more fearful in a trade since I don't want to have to add deposits to continue trading.

For example in today's morning session(10/20/2016), I shorted the YM pretty much near top tick but was SCARED AS HELL since the market had such a strong move up from the open and some of the traders in the chat room was long.
I was the only one shorting and seeing the move the market made, I only got out for a few ticks profit.
Low and behold after a few minutes goes by, it drops 100 ticks. I also bought the low after the dip, but by taking as long as it did to go higher, I was just happy with a few ticks of profit.

Anyways I am in a dire need of a mentor psychologically to keep me focused and calm emotionally. I have the edge, I just need the discipline and confidence to almost be robotlike. Thus, I am not looking for a handout from an experienced trader to teach me all he knows, I just need to change my mindset.

Do you actually need a coach/mentor?
It seems you broke your own rules, so you went against your edge. How is a mentor going to stop you doing this?

Do you have confidence in your edge? Have you tested it thoroughly? You know it works?

If you answer no to any of these then that's the issue, imo. If you answer yes to all of these then you are the issue. A mentor won't change that - diligence/discipline will, but that comes from within.

Unless of course you pay a mentor to sit with you to hold your arms back from clicking the mouse.

All my opinion btw so take with a punch of salt.

Sent using the futures.io mobile app

Reply With Quote
The following 3 users say Thank You to DaxyMcDaxFace for this post:
 
  #10 (permalink)
Market Wizard
Tampa FL
 
Trading Experience: Advanced
Platform: Sierra Charts/TOS
Broker/Data: Future Path/TDA/S5
Favorite Futures: Futures/Cryptos
 
CenFlo's Avatar
 
Posts: 625 since Apr 2016
Thanks: 789 given, 910 received


You may want to check out the following book, I bought it a while back and have just started it.

It has good reviews, the only negative being that the author is a bit on the wordy side.

https://www.amazon.com/Trading-Zone-Confidence-Discipline-Attitude/dp/0735201447/ref=cm_cr_arp_d_product_top?ie=UTF8

You miss 100% of the shots you don't take. - Wayne Gretsky
Follow me on Twitter Reply With Quote
The following user says Thank You to CenFlo for this post:

Reply



futures io > > > In need of a coach/mentor/advice for keeping calm and confident in a trade




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

futures io is celebrating 10-years w/ over $18,000 in prizes!

Right now
 

$250 Amazon Gift Cards with our "Thanks Contest" challenge!

Right now
 

Show us your trading desks and win over $5,000 in prizes w/Jigsaw Trading

September
 

Webinar: The Best Entries and Exits in trading & in life w/Agustin Lebron

Elite only
 

Webinar: NinjaTrader 8 Newest Features Release Sneak Peek

Sep 26
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
I am looking for a mentor. Trade Futures. ieitani Traders Hideout 14 May 16th, 2018 05:31 PM
Meku's Journal of Becoming Confident Trader Meku Trading Journals 4 December 10th, 2015 12:56 PM
Markets Are Calm—But May Be Too Calm, Say Industry Pros Quick Summary News and Current Events 0 January 15th, 2012 05:40 PM
trade journal advice. shahab121 Traders Hideout 4 December 22nd, 2011 11:07 AM
listen to a calm voice before you take a trade cory Off-Topic 2 June 4th, 2010 12:09 PM


All times are GMT -4. The time now is 12:40 AM. (this page content is cached, log in for real-time version)

Copyright © 2019 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
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