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Motivation
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Motivation

  #11 (permalink)
Market Wizard
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tradeforall View Post
If you can't decrease your losses you're need to decrease your sizes and trading frequency.

Or perhaps reduce your stop-loss

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  #12 (permalink)
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xplorer View Post
Or perhaps reduce your stop-loss

No, you can double you stop loss and halve your trading size. But it's more effectively to halve your trading size without changing your stop loss.

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  #13 (permalink)
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I understand what you are saying, but my statement was more general. I think you are assuming that one's stop loss is adequate when you say


tradeforall View Post
you can double you stop loss and halve your trading size. But it's more effectively to halve your trading size without changing your stop loss.

whereas there may be people out there with too large a stop loss.

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  #14 (permalink)
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xplorer View Post
I believe in this case motivation = determination.

Bad days happen. But I keep remembering about a quote, I believe by Henry Ford, that goes

“Whether you think you can, or you think you can't--you're right.”

That helps me keep going

Love that quote I tell it to the kids all the time and I think they are a bit perturbed by it/me now but I'm not going to stop reinforcing it in them. Makes me nuts when I hear people say I can't this I can't that. If you tell yourself that story enough it will become your reality. Ones thoughts creates ones reality. Super sad to see folks trapped within the confines of their own ideas and ways they organize the world in their own minds. I often see, for example, an attractive person blessed with an outstanding physical gift with seemingly many advantages yet reducing themselves to a low state with foul behavior and overly attached to transitory "stuff" and obsessed with its acquisition.

Ron

It is an axiomatic fact that while you meditate you are speaking with your own spirit. In that state of mind you put certain questions to your spirit and the spirit answers: the light breaks forth and the reality is revealed.
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
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I found Trading in the Zone by Mark Douglas to be the best trading psychology book.

I was looking for solid information about trading. I will definitely check it out.

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caprica View Post
with respect..couldn't disagree more on this one statement. I think the problem too often is traders run into a few bad trades and then scrap a system that was otherwise working. they get caught up in the moment and let emotion take over.

i think before you scrap everything and start over you need to answer the question as to why first. did your trading plan fail you? did your setup fail you? did you follow the rules? was this event that lead to your frustration not factored in to the probabilities in your plan? should it have been?

i can see scraping a project that was in the design or development phase and after many hours of testing your theory you find that your initial idea was wrong. if that is what you meant then I do agree with you. but if you did your initial homework and developed your plan around this theory and your research says it should work, then later you trade it cash and you have a bad run and run up against that brick wall, i think it is important to not simply toss it out and start over presumably with new indicators and new settings. there is much to be learned for the true reason you hit the brick wall and you must learn it or you are doomed to repeat it.

still this thread is about becoming motivated afterwards not necessarily preventing the event that causes you to lose motivation. didn't meant to step on toes.

Well said, well put!

I can only add this. Every edge has as its outcome a random set of results. Completely unpredictable as to the order in which they occur. Its only on a large set of data that the probabilities workout to be close to their ideal. Discarding a trading paradigm because it produced a series of losing trades is like tossing a coin in the trash after 6 flips produced all tails.

Ron

It is an axiomatic fact that while you meditate you are speaking with your own spirit. In that state of mind you put certain questions to your spirit and the spirit answers: the light breaks forth and the reality is revealed.
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
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