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You mean one on one counseling/mentorship sessions? Is that what you did?
ctnz you are a very good writer, you should post an update to your original post. Where you are now in your trading, what you have learned. it would be great to hear how you actually do it (Im not talking about your trading method). I think most of us have read the same books and posts and come across similar resources online but the key is not what we think we know intellectually but rather what we do to become that vision we hold in our minds. That is something I dont see a lot of. You seem to have achieved it.
Ive been thinking about what you said to xplorer. I drew a picture (I learn by drawing concepts out). It might have answered something else that has been nagging at me - accumulation and distribution.
When price is bouncing around in a range, people say its accumulating. If you consider EURUSD and how liquid the pair is, you have to ask yourself who exactly is big enough that they need a 100 pip range (or whatever) to build a position. What you said made me think that perhaps I have been seeing this all wrong. Accumulation occurs at the edges, and not in the range. All a large institution has to do is have the guns to push forcefully into a stop zone to trigger all those orders. This is what propels the market in their favour or allows them to soak up orders at the best price without pushing the market against themselves.
If you consider a massive institution or bank that co-ordinates their efforts with other large institutions, they can 'bat' price backwards and forwards in a range (sell to themselves at the top, and buy back from themselves at the bottom). Being experts on human behaviour, they know that the longer the range goes on , the more traders they suck into the market. It is quite obvious where BUY/SELL orders will be placed and that is what they do after. The stops are used as absorption in order for them to 'hide in the long grass' or as momentum to propel the market in their direction.
Yes, I had some time with one of her people. Then I had a weekly session for about 3 months with Denise herself.
I had fear issues, I was a nervous Nelly when in a trade. I was patient about getting in a trade but once in I was scared to death. I learned how to talk and listen to myself while in a trade. If you are on the other side of the door when I am trading you would swear there are two people in the room. There are two personalities present but only one physical body. When I starting talking out loud about what I felt when in a trade I said things that blew my mind. At first I recorded it and listened back later. It was a shock to my system about what I said. I later just talked out loud in the heat of the moment about how i felt and still do it to this day. I am calm and still have normal anxiety but no fear.
My entries were prefect but couldn't stay in a trade due to fear so I exited way too early every time. I consistently left a lot of profit on the table. I was taking a single bite out of a huge watermelon and knew it. I now voice my emotions and answer myself back in action if I need to. My analytics were stone cold accurate but my mental state couldn't trade it worth a darn. I have since found this is a common ailment with many traders but some won't admit it even to themselves.
The best mental base for a trader is a psychopath as they have no emotions. They can be winning but have no emotion and can be hemorrhaging capital and have no feelings. I know some of the best paper traders in the world but when it comes to putting real money down they turn into spaghetti. I know a guy who is a good amateur golfer, but if you say "I bet you 25 cents you can't make that shot", he chokes every time. There are endless posts on this site about sim vs real money. When you are in sim there is no risk, you can trade in a very neutral mental state. But when there is real money involved (and your brain knows it), it becomes a totally different game. And it is a game, one you play for money.
Grantx, I hope that gives you some insight. Most every trader has some of these demons in them at some level. Denise help me to conquer or at least come to terms with mine. That was a key part of me turning the corner, not analytics or setups just plain old emotions. I am no psycho and it might sound crazy but it worked for me.
I'm not an original respondent but still hanging out. After a few years of trying a lot of different things, I believe I have found a nice comfy pair of shoes that fit well and am very much in the process of fine tuning what works for me. Ya gotta own it.
Thanks for the reply. At least one person is still around. I hope some of my rantings was of use to you. Yep you are talking the talk of a seasoned veteran now. The fine tuning never stops and you never stop getting better.
