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TS' Trading Journal (Since 2014/9/8)


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TS' Trading Journal (Since 2014/9/8)

  #261 (permalink)
 
tshunhu's Avatar
 tshunhu 
Wuhan, Hubei, China
 
Experience: Beginner
Platform: NinjaTrader
Broker: Interactive Broker
Trading: Stocks
Posts: 272 since Jun 2014
Thanks Given: 306
Thanks Received: 165


SPY

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  #262 (permalink)
 
tshunhu's Avatar
 tshunhu 
Wuhan, Hubei, China
 
Experience: Beginner
Platform: NinjaTrader
Broker: Interactive Broker
Trading: Stocks
Posts: 272 since Jun 2014
Thanks Given: 306
Thanks Received: 165


SPY

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #263 (permalink)
 
tshunhu's Avatar
 tshunhu 
Wuhan, Hubei, China
 
Experience: Beginner
Platform: NinjaTrader
Broker: Interactive Broker
Trading: Stocks
Posts: 272 since Jun 2014
Thanks Given: 306
Thanks Received: 165



SPY


FB

Good part:
Got out of my "crazy mod" quicker than I used to.
Obeyed max loss rule
No adding losing position. No double position to cover loss

Bad part:
This used to happen, not recently, should take this chance to figure it out and make a plan about it.

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  #264 (permalink)
Hanneke
IJsselstein-Utrecht - The Netherlands
 
Posts: 122 since Feb 2017
Thanks Given: 95
Thanks Received: 419

Hi @tshunhu, I am currently going through a video serie of Mark Douglas called 'How to think like a pro'.
He would have said to you: you are having expectations regarding the outcome of your trade. This causes fear and is clouding to see what is really happening (in particular what happened with your FB trades).
If you like I can send you the videos. Just send me a private message with your email adress


Sent from my iPhone using futures.io

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  #265 (permalink)
 
tshunhu's Avatar
 tshunhu 
Wuhan, Hubei, China
 
Experience: Beginner
Platform: NinjaTrader
Broker: Interactive Broker
Trading: Stocks
Posts: 272 since Jun 2014
Thanks Given: 306
Thanks Received: 165


FB

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Thanked by:
  #266 (permalink)
 
tshunhu's Avatar
 tshunhu 
Wuhan, Hubei, China
 
Experience: Beginner
Platform: NinjaTrader
Broker: Interactive Broker
Trading: Stocks
Posts: 272 since Jun 2014
Thanks Given: 306
Thanks Received: 165


SPY


FB

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Thanked by:
  #267 (permalink)
 
tshunhu's Avatar
 tshunhu 
Wuhan, Hubei, China
 
Experience: Beginner
Platform: NinjaTrader
Broker: Interactive Broker
Trading: Stocks
Posts: 272 since Jun 2014
Thanks Given: 306
Thanks Received: 165


FB


SPY

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #268 (permalink)
NerradC
Perth AUSTRALIA
 
Posts: 253 since Jun 2017
Thanks Given: 79
Thanks Received: 87


tshunhu View Post
I've been trading for about 3 years. The first year was happy, with some luck and passion, I got some profit from the market. The second year was about paying the price for previous happiness, big $ losses, emotional pain. The third year, till now, I'm just saying that I'm starting to learn.

I've read many books about technical analysis: some about indicators, some about price charts, and some about algorithm trading and etc, but they are not suitable for me. The journey of searching a holy grail is doomed to be fruitless, I seldom feel at ease when making a trading decision: worry about potential loss before taking a position, worry about paper profit vanish when holding a position, regret about missing the rest of movement after closing a trade. Making money or not, it is not a pleasant experience.

After all these struggles, I stopped looking for solution in technical analysis, I read more books in psychology, religion, and some about trading experience. I found the idea that really changed my mindset at the beginning of 2017.

the homology of profit and loss.

The original word is in chinese, I cannot find any better translation. Actually, the idea was not new, every trader successfull or not is familiar with it. I heard that loss is part of the game, for sure, but I'm really beginning to understand it after all these 3 years of profits and losses.

I put a stop order when entering a trade, I got this habbit after some painful experience at the beginning of my trading journey. I use a stop order to limit potential loss of my trade, but I never truely accept it, even I have been forced to accept the financial result of it. I noticed a subtle thought that occurs everytime when I'm about to put a stop order. I feel reluctant to click the buttom when putting to order, it is just a split of second that I feel that way, then my mind tells me what could happen without a stop order, so I click. When the price was moving towards my stop, I get nervous, I hated that. That's why I used to move my stop.

If I fully accept that loss is a part of the game, and the loss defined by my stop order is the price needed to pay for a potential profit, why would I feel what I feel about trading? If the worst senario has been defined at the beginning of the game then why would emotional pain exists in my mind.

I realized that I haven't never really accepted a loss in my mind. That's why I used to take revengeous trade right after a losing trade. That's why I double my position after a losing trade. It sounds like a capricious kid, spoiled by parents, seems to accept the rule of game at first. If he wins, ok, a happy day, if he loses he throws away all his toys, shouts at other kids, accuses other of cheating. Yes, definately, that's the little boy who was trading my account.

I can't help to laugh at myself now...I trade live acount now, but really small position. The goal is not about making profit, but to change my bad habbits and remove bad emotional energy from those behavior pattern, put positive energy into good ones. In general, make the little boy grow up.

That all, hope it helps.

nice sharing of thought!
i find this helpful to address the trading pain:
The Top 10 Pains of Trading - New Trader U -
hopefully the positive probabilistic outcome will play out soon after the next 100 trades


cheers
DarrenC

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  #269 (permalink)
 
tshunhu's Avatar
 tshunhu 
Wuhan, Hubei, China
 
Experience: Beginner
Platform: NinjaTrader
Broker: Interactive Broker
Trading: Stocks
Posts: 272 since Jun 2014
Thanks Given: 306
Thanks Received: 165

Bad Day, learn and forget~


SPY


FB

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Thanked by:
  #270 (permalink)
 
tshunhu's Avatar
 tshunhu 
Wuhan, Hubei, China
 
Experience: Beginner
Platform: NinjaTrader
Broker: Interactive Broker
Trading: Stocks
Posts: 272 since Jun 2014
Thanks Given: 306
Thanks Received: 165



FB

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