What is the single biggest area you need to improve as a trader? - futures io
futures io futures trading



What is the single biggest area you need to improve as a trader?


Discussion in Traders Hideout

Updated
      Top Posters
    1. looks_one bobwest with 6 posts (34 thanks)
    2. looks_two Big Mike with 5 posts (28 thanks)
    3. looks_3 Grantx with 3 posts (15 thanks)
    4. looks_4 Wernersabel with 3 posts (3 thanks)
      Best Posters
    1. looks_one YogaTrading with 9 thanks per post
    2. looks_two bobwest with 5.7 thanks per post
    3. looks_3 Big Mike with 5.6 thanks per post
    4. looks_4 Grantx with 5 thanks per post
    1. trending_up 4,003 views
    2. thumb_up 185 thanks given
    3. group 20 followers
    1. forum 46 posts
    2. attach_file 0 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

(If you already have an account, login at the top of the page)

 
Search this Thread
 

What is the single biggest area you need to improve as a trader?

(login for full post details)
  #1 (permalink)
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,790 since Jun 2009
Thanks: 32,314 given, 97,607 received

Hey guys,

New poll:

What is the single biggest area you need to improve as a trader?

Total votes: 646
 


Please vote and discuss.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my futures io Trade Journal Started this thread Reply With Quote
The following 11 users say Thank You to Big Mike for this post:

Can you help answer these questions
from other members on futures io?
SimplerOptions
Trading Reviews and Vendors
Help Needed: TOS Options Chain IV & IMPL MOVE Calcul …
ThinkOrSwim
Automatic pattern research with NT
Elite Algorithmic NinjaTrader Trading
Work with historical tcks data on MUltichart NET PowerLa …
MultiCharts
Improve current ZigZag indicator in NT8
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Battlestations: Show us your trading desks!
117 thanks
Want your NinjaTrader indicator created, free?
32 thanks
Big Mike in Ecuador
29 thanks
Saturday Morning Market Replay!
20 thanks
Selling Options on Futures?
19 thanks
 
(login for full post details)
  #3 (permalink)
Market Wizard
New Orleans, La (Mardi Gras City)
 
Experience: Advanced
Platform: NinjaTrader
Broker: Ninjatrader / Optimus Futures / AmpFutures
Trading: ES / 6E / 6B / CL
 
DavidHP's Avatar
 
Posts: 1,351 since Aug 2009
Thanks: 9,567 given, 2,363 received


Many times I suffer from all of the listed items.
But the thing for me that needs improvement is "time to trade".

Because I am not yet retired and still working, I get started with charts on the screen, research done, prep made.
Then a client blows up my phone with calls or texts saying they need me immediately.

Some emergency (in their opinion) needs my attention.
I close the charts and go to the rescue.
Of course I get paid by them for the interruption but it is never as satisfying as trading to me.

I've voted for not following my rules since one of my rules is to not be distracted when trading.

Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
Follow me on Twitter Reply With Quote
The following 7 users say Thank You to DavidHP for this post:
 
(login for full post details)
  #4 (permalink)
Al,India
 
Experience: Advanced
Platform: NinjaTrader
Broker: RKG
Trading: NiftyFuture
 
devdas's Avatar
 
Posts: 1,562 since Feb 2010
Thanks: 1,504 given, 1,701 received

I wish to vote for "Not having a trading plan"

Harvest The Moon
Nest The Market
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 5 users say Thank You to devdas for this post:
 
(login for full post details)
  #5 (permalink)
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 6,367 since Jan 2013
Thanks: 48,513 given, 21,327 received

I voted for "Letting losers run too far," because it's by far my stupidest move and the one that costs me the most.

I could easily have just said "Not following my own rules," which would cover this and a few others....

Bob.

Visit my futures io Trade Journal Reply With Quote
The following 9 users say Thank You to bobwest for this post:
 
(login for full post details)
  #6 (permalink)
New York
 
Experience: Intermediate
Platform: NinjaTrader
Broker: InteractiveBrokers
Trading: ES, CL, GC, 6E, 6S
 
Posts: 6 since Oct 2015
Thanks: 13 given, 5 received


bobwest View Post
I voted for "Letting losers run too far," because it's by far my stupidest move and the one that costs me the most.

I could easily have just said "Not following my own rules," which would cover this and a few others....

Bob.

Not sure what to do about it though. Maybe it’s a gambling related disease or some other deeply rooted psychological issue... either way it seems I’m not the only one. We should start a group akin to AA. Who’s in favor?

Reply With Quote
The following 4 users say Thank You to bmveee for this post:
 
(login for full post details)
  #7 (permalink)
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 6,367 since Jan 2013
Thanks: 48,513 given, 21,327 received


bmveee View Post
We should start a group akin to AA. Who’s in favor?

It's called a trading journal.

Bob.

Visit my futures io Trade Journal Reply With Quote
The following 6 users say Thank You to bobwest for this post:
 
(login for full post details)
  #8 (permalink)
Legendary Market Wizard
Chicago
 
Experience: Beginner
Platform: Sierra Chart
Broker: Edge Clear
Trading: MES
 
snax's Avatar
 
Posts: 1,537 since Feb 2019
Thanks: 6,149 given, 6,128 received


DavidHP View Post
Many times I suffer from all of the listed items.
But the thing for me that needs improvement is "time to trade".

Because I am not yet retired and still working, I get started with charts on the screen, research done, prep made.
Then a client blows up my phone with calls or texts saying they need me immediately.

Some emergency (in their opinion) needs my attention.
I close the charts and go to the rescue.
Of course I get paid by them for the interruption but it is never as satisfying as trading to me.

I've voted for not following my rules since one of my rules is to not be distracted when trading.

Right there with you. I find I can make it work, and I've come to enjoy the context-switching between work and trading, it keeps me sharp. I do want to focus on the markets full-time though. Some day

Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to snax for this post:
 
(login for full post details)
  #9 (permalink)
Legendary Market Wizard
Chicago
 
Experience: Beginner
Platform: Sierra Chart
Broker: Edge Clear
Trading: MES
 
snax's Avatar
 
Posts: 1,537 since Feb 2019
Thanks: 6,149 given, 6,128 received

As for me, I suffer from all of these problems in one form or another, but I voted for "Cutting profits short".

It is a sudden anxiety AFTER I've entered the trade. I don't have anxiety when I'm executing the entry, but once the trade is on and the little marker dances around between my basis and my stop-loss I quickly get anxious and i can't wait to shove my stop up to lock in a profit so I can breathe easier. Its a fundamental trade-management skill I'm lacking that will improve with experience, as I've recently gotten a little bolder.

I think there's a bigger issue here of "trading stamina" or maybe there's a better term for it. Just like physical-conditioning, its a mental and psychological/emotional-conditioning that I'm finding improves over time and trading experience. But its very real for me and its one of the "lower-hanging fruit" in the puzzle that I'm working on.

For those interested or struggling with similar issues, one thing I'm finding helpful is to start tracking Maximum-favorable excursion, or just how far those trades actually go in your favor. I track the percentages and its a real eye-opener to the possibilities. I need to start adding this to my journal more consistently.

Cheers!

Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to snax for this post:
 
(login for full post details)
  #10 (permalink)
Legendary Recovering Method Hopper
Upstate NY
 
Experience: Intermediate
Platform: TOS
Broker: TD Ameritrade
Trading: Equities, Treasuries, Gold
 
mtzimmer1's Avatar
 
Posts: 780 since Dec 2018
Thanks: 2,162 given, 1,781 received


Like others, I struggle with nearly all of these. ‘Not following my trade plan’ is the most accurate though. My results take the biggest hit from entries outside my trade plan - I take these trades out of boredom. I am focusing and improving on this problem by keeping a trade journal!!

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 4 users say Thank You to mtzimmer1 for this post:
 
(login for full post details)
  #11 (permalink)
Las Vegas, Nevada, USA
 
Experience: Beginner
Platform: NinjaTrader
Broker: Dorman Trading
Trading: ES
 
YogaTrading's Avatar
 
Posts: 53 since Sep 2014
Thanks: 700 given, 108 received

I dont share many comments here but I love the site......I thought this discussion was meant for me to share. My thoughts an concepts are mine. Not looking to rebuttal anybody or have negative comments...take away what you think you can use or leave it.

My experiences have brought me to understand that a trading plan written out with strict rules, should cover the items on the list such as overtrading, letting loser run and not getting enough profit as expected.

What I found most difficult is controlling and recognizing the human behavior that gets in the way in trying to follow the rules....Ask yourself what is your belief in RULES? in general...my life has taught me rules are made to be broken, or are for dummies.....that belief has caused me so much pain!!!!! and I have lived in 9 countries and walked in 44.....not bragging just reflecting why I had that belief!!!!

The minute I started to use the TJS electronic journal (a statistical look at your trading) an I uploaded my NT trade data, it showed me my trade statistics and when you begin to see the statistical repeated errors, it begs for you to ask the question..Why am I doing this? and until you identify that...you can't change!!!!!

It was not until I identified the triggers of my human behavior that I began to reduce them..........It is not easy.!!!

If you understand the mental game the brain plays with fear and greed, you realize it's in your head.

What worked for me was identify the triggers, for me there has been two.....one was my "euphoria" feeling, you win 4 or 5 in a row and on the next one you blow it up..you move your stop an let the loser beat you more than if should have.
Why?....... in my case the wins made me over confident........remember we spend time convincing ourselves we have an edge....so it plays against our confidence.....So now every time I have a winner, I say...I am one trade closer to a loser...I have a win rate of 68%...which means 32% lose...so I had to grasp that 1 out of every 3 trades may be a loser an except that an PLAN for it.

The 2nd behavioral issue....I found that my need to be right was a problem....when I would lose, I would chase the loss...why? because we humans hate to be wrong.......now when I have a loser.....I leave the computer for 15 to 20 minutes and go visit my "human behavior" the one that wants to jump in an get the money back...which is a NO NO..I speak to myself about the 32% loss rate which is acceptable, it's OK.....

Recognizing your triggers is the key!!!!! Spend time identifying WHY..you are doing certain things that are detrimental to your trading...

I also found that trading on a short time frame chart is a NO NO for me, I use a 30 minute bar to trade. I enter on a 60 second chart...but dont watch the 60 second chart, it sucks me in to the noise, so I watch the 30 minute chart...
I love price action...the fact I used the word LOVE...tells you I am an adrenaline junkie...I jump out of perfectly good airplanes, I scuba dive deeper than my license allows, I worked in war zones as a civilian for 8 years......now I have identified it....cant change it.... but I recognize it in the moment.......so I changed my chart time to compensate for the human behavior....helped greatly.

You can't change who you are...instantly....human behavior took years to develop.....but you can place things into your trade plan to help you recognize it in the moment and to offset them!!!

I read a very profound comment about trading, some of you may recognize this......."have the courage in your conviction to take the trade but have the intelligent patience to sit tight.!!!!!!..very hard..practice it!!!

I was trying to upload a behavorial study an a behavor change plan but could not get the function to work, if anybody would like it, email me @....lawler.kc@gmail.com.....would be glad to share.


I hope my words help, it has helped me in sharing.

Cheers

Reply With Quote
The following 16 users say Thank You to YogaTrading for this post:
 
(login for full post details)
  #12 (permalink)
New York City, NY
 
Experience: Intermediate
Platform: Ninjatrader 8
Broker: Dorman Trading
Trading: emini ES/NQ
 
xevanchan's Avatar
 
Posts: 160 since Sep 2018
Thanks: 173 given, 294 received


Big Mike View Post
Hey guys,

New poll:



Please vote and discuss.

Mike

Where's "all of the above"?
I wish I was joking lol

imagine all the people living life in peace
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 7 users say Thank You to xevanchan for this post:
 
(login for full post details)
  #13 (permalink)
Gold Coast
 
Experience: Advanced
Platform: Sierra Chart
Trading: Futures and Forex
 
Posts: 25 since Aug 2010
Thanks: 12 given, 55 received

I assumed that Not following my own rules covered the why the !@#! did I do that moments.

Reply With Quote
The following 2 users say Thank You to kiwi for this post:
 
(login for full post details)
  #14 (permalink)
Los Angeles CA/USA
 
Experience: Intermediate
Platform: Ninjatrader
Broker: CQG
Trading: emini ES
 
Posts: 5 since Jun 2016
Thanks: 19 given, 9 received


Big Mike View Post
Hey guys,



New poll:







Please vote and discuss.



Mike



Patience.


Sent using the futures.io mobile app

Reply With Quote
The following user says Thank You to SlimSala for this post:
 
(login for full post details)
  #15 (permalink)
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,790 since Jun 2009
Thanks: 32,314 given, 97,607 received

I'll add a few more options and re run this poll in the future, keep the discussion going guys.

Sent using the futures.io mobile app

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my futures io Trade Journal Started this thread Reply With Quote
The following 3 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #16 (permalink)
Legendary Market Wizard
Chicago
 
Experience: Beginner
Platform: Sierra Chart
Broker: Edge Clear
Trading: MES
 
snax's Avatar
 
Posts: 1,537 since Feb 2019
Thanks: 6,149 given, 6,128 received

As @cory said, All Fears are the Same Fear. I think Fear is at the root of many of these problems,

I personally fear failure and the death of my account, I fear that the capital I set aside to follow this quest will dissipate, that I will waste the capital like a fool. I fear that the gifted masters of the universe really are better qualified than me. I fear I am just an average person who just couldn't quite get trading "its a hard racket after all". I fear there is a flaw in me that is deluded by randomness.

So all I can do is work out these trades one by one, and slowly prove that there really is an edge that I have. I feel like every trade is fighting me all the time. The market-maker wants to stop me out, the institution wants the liquidity. All I can do is work at learning the market behavior and execute without the fear. I see small steps.

I can keep blocking off behaviors that hurt me. Fear can be a powerful tool to make me an effective trader. I won't be a fool, I will respect the fear and survive as a trader. I will Live to generate a large-enough sample-size of trades to discover what the edge is for me.

Visit my futures io Trade Journal Reply With Quote
The following 6 users say Thank You to snax for this post:
 
(login for full post details)
  #17 (permalink)
Sumy, Ukraine
 
Experience: Beginner
Platform: NinjaTrader
 
AlexSobol's Avatar
 
Posts: 57 since Apr 2019
Thanks: 112 given, 90 received

I hate when position goes against me. So I often exit too soon right before big move occurs. A few ticks instead of a few points

Reply With Quote
The following 2 users say Thank You to AlexSobol for this post:
 
(login for full post details)
  #18 (permalink)
Texas, USA
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: AMP Futures w/ CQG Data Feed
Trading: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
 
TraderTS's Avatar
 
Posts: 440 since Jul 2014
Thanks: 253 given, 365 received


snax View Post
I think Fear is at the root of many of these problems,

Once upon a time... It's "ALL of the above" listed in the poll for me. Then I read "Trading in the ZONE" by Mark Douglas and work my way through it... the only thing left is "Misreading price action/context" that still kept me from "Trading should be EFFORTLESS, as he suggested.

iTS


Find the missing piece of the puzzle... Let's be amazing, be awesome in trading today!
iTS
Visit my futures io Trade Journal Reply With Quote
The following 4 users say Thank You to TraderTS for this post:
 
(login for full post details)
  #19 (permalink)
Stockholm, Sweden
 
Experience: Intermediate
Trading: FDAX, ES
 
veloxtrader's Avatar
 
Posts: 84 since Oct 2018
Thanks: 543 given, 219 received

Interesting topic, I picked "overtrading" because it is what I do when I give back most of the profits from a good week of trading, I usually go for 1-3 trades in the DAX morning session and maybe hold a runner into the afternoon. What happens is that Im either marginally up or down in the morning and I'm unsatisfied with the day come back in the afternoon for the US open and take either a quick win/loss and then I go off trying to force the market to give me the money it "owes" me for my time and I dig myself down deeper with each trade until I hit my daily loss limit and instead of 1-3 trades that day i have 10-15, at least I have the discipline after 2 years not to continue trading when that happens but I didn't need to hit my daily loss limit at all.

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 4 users say Thank You to veloxtrader for this post:
 
(login for full post details)
  #20 (permalink)
Market Wizard
Columbus OHIO
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage
Trading: ES,
 
MiniP's Avatar
 
Posts: 1,128 since May 2017
Thanks: 1,098 given, 2,863 received

I personally picked not following my plan because there are some mornings where I don't get my daily prep done before the market starts and some times I trade days where I shouldn't like fomc. I think there are a bunch of other small things but it's getting much much better


Sent using the futures.io mobile app

"Truth is not what you want it to be; it is what it is, and you must bend to its power or live a lie"-Miyamoto Musashi
Visit my futures io Trade Journal Reply With Quote
The following 5 users say Thank You to MiniP for this post:
 
(login for full post details)
  #21 (permalink)
Legendary no drama Llama
Reading UK
 
Experience: None
 
Posts: 1,786 since Oct 2016
Thanks: 2,807 given, 5,015 received

I think all those options can be categorised under 'not following the plan' and that's why most choose the generic all-encompassing option.

I follow this method or that method, it doesn't matter its all the same thing just different reasons. The other day there was a brief discussion on the most appropriate place to take a trade. One person suggested they only sell on momentum and not on a bullish candle. The other person suggested that it was bad practice to sell the low of a range and better to wait for confirmation and a pullback. But at the end of the day, the trade location and direction ended up being at exactly the same price level!

I think that the best way to improve as a trader is to focus on self-development. Get to know yourself. Feel the chimp. It is in that moment of rising panic and frustration when you make your biggest mistakes. Its not the plan that needs improvement, it is the chimp administering it.

Visit my futures io Trade Journal Reply With Quote
The following 5 users say Thank You to Grantx for this post:
 
(login for full post details)
  #22 (permalink)
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 6,367 since Jan 2013
Thanks: 48,513 given, 21,327 received


Grantx View Post
I think all those options can be categorised under 'not following the plan' and that's why most choose the generic all-encompassing option.

I follow this method or that method, it doesn't matter its all the same thing just different reasons. The other day there was a brief discussion on the most appropriate place to take a trade. One person suggested they only sell on momentum and not on a bullish candle. The other person suggested that it was bad practice to sell the low of a range and better to wait for confirmation and a pullback. But at the end of the day, the trade location and direction ended up being at exactly the same price level!

I think that the best way to improve as a trader is to focus on self-development. Get to know yourself. Feel the chimp. It is in that moment of rising panic and frustration when you make your biggest mistakes. Its not the plan that needs improvement, it is the chimp administering it.

This is pretty good, in my view. I somewhat agree, and partially disagree.

First, the disagreement: all methods are not really the same. They do not actually all tell you to do the same thing at the same time, and they do not all attempt to exploit the same supposed opportunities in the same ways. Also, I am far from convinced that all or most of them work, even if faultlessly executed. (Not that faultless execution is seen that often.)

Now, the more important part, the agreement: The clearest common element in the journals of struggling traders (which is all of us at one time or another) is that the supposed method we follow just goes right out the window as "the chimp" (which, actually, is us) takes over. Then, the motivations for the trade are strange and hard to explain afterwards, the thinking is murky, and impulses to do something inexplicable are strong and overwhelming. It's not usually the plan that failed, because it usually just didn't get followed.

So I think @Grantx has it essentially right. There is a part of you and me that is the chimp mind, and we need to become reconciled with it, and not governed by it. (Note that I am not giving an answer about how to do this. I'm still working on it. )

Bob.

Visit my futures io Trade Journal Reply With Quote
The following 4 users say Thank You to bobwest for this post:
 
(login for full post details)
  #23 (permalink)
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,790 since Jun 2009
Thanks: 32,314 given, 97,607 received

Doesn't anyone else find it interesting that "risking too much for account size" is in last place in the polls?

Given that based on what I know and have learned over the years, the majority of traders are trading accounts far too small for the leverage they are using, and/or are trading with money they cannot afford to lose.

This just demonstrates a lack of education and understanding, that people don't realize it... in my opinion, of course.

And then this "risking too much" problem cascades into all the other problems, because of the stress it places on the trader.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my futures io Trade Journal Started this thread Reply With Quote
The following 9 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #24 (permalink)
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 6,367 since Jan 2013
Thanks: 48,513 given, 21,327 received


Big Mike View Post
Doesn't anyone else find it interesting that "risking too much for account size" is in last place in the polls?

Given that based on what I know and have learned over the years, the majority of traders are trading accounts far too small for the leverage they are using, and/or are trading with money they cannot afford to lose.

This just demonstrates a lack of education and understanding, that people don't realize it... in my opinion, of course.

And then this "risking too much" problem cascades into all the other problems, because of the stress it places on the trader.

Mike

When I saw the poll, I knew which of the choices you would think the most relevant.

I think you may be right, simply because fear of loss (and the odds of a too-big loss, too) is going to be greater.

I still put down "holding losers too long", because it's my major manifestation of this fear, but this is certainly the fear.

An argument in favor of the new index micros, by the way -- cut the size of the loss down to a tenth. So long as you don't just up the contracts and trade like it's play money.

Bob.

Visit my futures io Trade Journal Reply With Quote
The following 6 users say Thank You to bobwest for this post:
 
(login for full post details)
  #25 (permalink)
Site Moderator
London UK
 
Experience: Beginner
Platform: CQG
Broker: S5
Trading: Futures
 
xplorer's Avatar
 
Posts: 5,305 since Sep 2015
Thanks: 13,349 given, 12,649 received

Was "risking too much" in the poll from the start or was it added later?

Reply With Quote
The following 2 users say Thank You to xplorer for this post:
 
(login for full post details)
  #26 (permalink)
Legendary no drama Llama
Reading UK
 
Experience: None
 
Posts: 1,786 since Oct 2016
Thanks: 2,807 given, 5,015 received


Big Mike View Post
Doesn't anyone else find it interesting that "risking too much for account size" is in last place in the polls?

Given that based on what I know and have learned over the years, the majority of traders are trading accounts far too small for the leverage they are using, and/or are trading with money they cannot afford to lose.

This just demonstrates a lack of education and understanding, that people don't realize it... in my opinion, of course.

And then this "risking too much" problem cascades into all the other problems, because of the stress it places on the trader.

Mike

I agree and that's why I think that trading on the futures market is a very bad place to learn. But I also don't think you can view these issues in a hierarchical fashion (one having more importance over another).

There is no 'one thing' that makes you a consistent winner or loser. It is a guarantee that you will learn every one of those poll points the hard way. Discipline has to be maintained equally amongst each of them.

The only one that I think doesn't really fit is the misreading price action option. It is not something you can really fail at because you can pick a direction having not looked at the charts, and still win. You can also do your due diligence for hours on end and still end up losing. So I think that option has a large luck factor involved.

Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to Grantx for this post:
 
(login for full post details)
  #27 (permalink)
New York City, NY
 
Experience: Intermediate
Platform: Ninjatrader 8
Broker: Dorman Trading
Trading: emini ES/NQ
 
xevanchan's Avatar
 
Posts: 160 since Sep 2018
Thanks: 173 given, 294 received


Big Mike View Post
Doesn't anyone else find it interesting that "risking too much for account size" is in last place in the polls?

Given that based on what I know and have learned over the years, the majority of traders are trading accounts far too small for the leverage they are using, and/or are trading with money they cannot afford to lose.

This just demonstrates a lack of education and understanding, that people don't realize it... in my opinion, of course.

And then this "risking too much" problem cascades into all the other problems, because of the stress it places on the trader.

Mike

I agree, but this has been mitigated in part by the micros; traders that couldn't afford one mini have now moved down.

imagine all the people living life in peace
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to xevanchan for this post:
 
(login for full post details)
  #28 (permalink)
Legendary Market Wizard
Houston, TX
 
Experience: Advanced
Platform: Trading Technologies
Broker: Primary Advantage Futures. Also ED&F and Tradestation
Trading: Primarily Energy but also a little GE, GC, SI & Bitcoin
 
Posts: 3,979 since Dec 2013
Thanks: 3,284 given, 7,796 received

None of the Above.

Reply With Quote
The following user says Thank You to SMCJB for this post:
 
(login for full post details)
  #29 (permalink)
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 6,367 since Jan 2013
Thanks: 48,513 given, 21,327 received


SMCJB View Post
None of the Above.

So, what would be yours?

These were basically for discretionary traders. I imagine system trading would have a completely different list.

Bob.

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to bobwest for this post:
 
(login for full post details)
  #30 (permalink)
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,790 since Jun 2009
Thanks: 32,314 given, 97,607 received


xplorer View Post
Was "risking too much" in the poll from the start or was it added later?

From the start.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my futures io Trade Journal Started this thread Reply With Quote
The following 3 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #31 (permalink)
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,790 since Jun 2009
Thanks: 32,314 given, 97,607 received


SMCJB View Post
None of the Above.

I'll re-run this poll in the future, please tell me which options you want to see.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my futures io Trade Journal Started this thread Reply With Quote
The following 2 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #32 (permalink)
Alameda
 
Experience: Intermediate
Platform: ToS, SierraChart, IBKR
Trading: Emini ES
 
Posts: 5 since Apr 2019
Thanks: 8 given, 9 received


Big Mike View Post
Doesn't anyone else find it interesting that "risking too much for account size" is in last place in the polls?

I do find it interesting, but going "meta" (as I always tend to do whenever I see any poll or study)... I can't help but wonder if that's as much a function of those who participate in these forums rather than the typical characteristics of all traders in general.

I admit I've just joined recently and I can recognize a variety of skill levels in the discussions... but one theory might be that by the time one is serious enough to come here and attempt to build a sustainable trading career, they've improved enough at money management such that other trading mechanics have become more critical. Anyone who went in and tried to trade /ES on a $7K account probably blew out some time ago and isn't here to take the poll.

Reply With Quote
The following user says Thank You to BubbityDog for this post:
 
(login for full post details)
  #33 (permalink)
Fort Lauderdale, Florida, USA
 
Experience: Beginner
Platform: NT8, Bookmap
Trading: ES, MES
 
Posts: 149 since Feb 2017
Thanks: 70 given, 129 received


YogaTrading View Post
It was not until I identified the triggers of my human behavior that I began to reduce them..........It is not easy.!!!

If you understand the mental game the brain plays with fear and greed, you realize it's in your head.

What worked for me was identify the triggers, for me there has been two.....one was my "euphoria" feeling, you win 4 or 5 in a row and on the next one you blow it up..you move your stop an let the loser beat you more than if should have.
Why?....... in my case the wins made me over confident........remember we spend time convincing ourselves we have an edge....so it plays against our confidence.....So now every time I have a winner, I say...I am one trade closer to a loser...I have a win rate of 68%...which means 32% lose...so I had to grasp that 1 out of every 3 trades may be a loser an except that an PLAN for it.

The 2nd behavioral issue....I found that my need to be right was a problem....when I would lose, I would chase the loss...why? because we humans hate to be wrong.......now when I have a loser.....I leave the computer for 15 to 20 minutes and go visit my "human behavior" the one that wants to jump in an get the money back...which is a NO NO..I speak to myself about the 32% loss rate which is acceptable, it's OK.....

Recognizing your triggers is the key!!!!! Spend time identifying WHY..you are doing certain things that are detrimental to your trading...

This is me exactly. Thank you for sharing.

For me, at this stage, I believe I get drunk on my own self perceived prowess...and I don't realize I am intoxicated. This drunkenness causes me to get lazy--mentally and emotionally. I get too comfortable.

I then enter a trade a little haphazardly. But here's the critical point: it's not that the entry was necessarily that bad (tho it's not great either), instead, the bigger problem is my failure or inability to manage the trade soberly.

That is, my lethargy and drunkenness affects my ability to discern when is a proper time to exit, whether for a loss or gain. I think so highly of myself that I lazily think I can get away w this or that. My ability to a) be honest with myself on whether I am wrong, b) let go of an "incorrect" premise or bias, and c) manage my fears and greed in general, which comprises a lot of things...are all diminished.

The drunkeness makes me think I am doing the right things when in reality I am not. Self delusion. And I can even take a break for several days after a sustained cycle of gains, but still come back and subconsciously thinking I'm hot s*** and fall into this trap. It seems that no amount of time away sobers the mind. The only thing that sobers the mind is the pain of loss.

I used to think I was being intentionally self sabotaging, but I don't believe I'm being self sabotaging in a traditional sense. I think it is more akin to willful blindness/ignorance, and a love for feeling like the rules do not apply to me....that I am above the rules, that I am different or special. Of course, I know I am not special but I love slipping into that mindset.

My current conclusion is that one part of me is trying to influence the other part (the chimp?) by causing the lesson of pain; it's akin to a self correcting mechanism that functions automatically on it's own to rebalance the ship. And that lesson has to be retaught and retaught bc I'm so blind to my own blindness, and cannot see my delusional hubris. Oedipus?

To me, this is why trading is so deceptively difficult: success may actually beget failure, unlike just about every other area of life. I wonder, will trading be my white whale? At this point, I do not think so.

But, in order for it not to be, I must (among other things) figure a way to be cognizant of my "prowess" drunkenness. Lord that is so hard. That chimp loves getting drunk. I'm not young anymore, yet I fall victim to this hubris.

...in reference to the chimp others have mentioned, for anyone else interested: https://www.amazon.com/dp/039916359X/

Reply With Quote
The following 6 users say Thank You to fivewhy for this post:
 
(login for full post details)
  #34 (permalink)
Legendary Market Wizard
Los Angeles CA
 
Experience: Beginner
Platform: NinjaTrader, TOS
Trading: GC, MGC
 
Salao's Avatar
 
Posts: 826 since Jun 2017
Thanks: 6,283 given, 3,358 received

I'm not the most experienced trader, but all those problems listed on page 1...I got 'em. My answer was 'misreading the price action'. My reasoning for this was that if you print out a chart at the end of the day and take a look at it, or even study it, the price action signals were there. All the information was there to take the correct trade. If I did not take 'the trade' or entered on the wrong side of the market it is because I did not properly interpret the price action at that time or I missed a critical piece of information. When I look at my losing trades at the end of the day I find that this is often the case. I have a lot to learn about price action.

But sometimes I wonder if fear, FOMO, or some other emotion clouded my judgement enough to make it difficult to read the price action in a productive way.

Visit my futures io Trade Journal Reply With Quote
The following 7 users say Thank You to Salao for this post:
 
(login for full post details)
  #35 (permalink)
Rio de Janeiro + Rio de Janeiro/Brazil
 
 
Posts: 1 since May 2019
Thanks: 0 given, 1 received

I think you guys should definitely add Discipline in the list. It includes sticking Risk Management, System and Behavior rules.

Discipline is the rock that I'm facing in my way right now. What keeps me from closing consecutive positive months are a few days (2-3) and working on it to cut it out. Nowadays my lawn is lower but still not done. These 2-3 days, 5 at top are enough to make my month go back to 0 or a bit positive, something near 1/4 monthly goal.

Just started around here. Still getting into the way it works.

Reply With Quote
The following user says Thank You to JohnWicked33 for this post:
 
(login for full post details)
  #36 (permalink)
Lisbon, Portugal
 
 
Posts: 35 since Jun 2017
Thanks: 21 given, 45 received


Grantx View Post
I think all those options can be categorised under 'not following the plan' and that's why most choose the generic all-encompassing option.

I think that the best way to improve as a trader is to focus on self-development. Get to know yourself. Feel the chimp. It is in that moment of rising panic and frustration when you make your biggest mistakes. Its not the plan that needs improvement, it is the chimp administering it.

I can only echo that and it is what I am currently working on. May have to admit that simplifying my game plan was a good idea because it clears the sky. And that is what I need for not geting emotional. You have to be very clear about what you want to do. I do also self measuring like - was that trade according to my gameplan? That includes entry, management and exit. I often find myself cutting winners short - which is not exactly part of my plan - therefore I also voted for "not following my own rules".

If anybody has some ideas about how to improve ones trading confidence I would appreciate any advice.

Cheers,
Wernersabel

Reply With Quote
The following user says Thank You to Wernersabel for this post:
 
(login for full post details)
  #37 (permalink)
Lisbon, Portugal
 
 
Posts: 35 since Jun 2017
Thanks: 21 given, 45 received


YogaTrading View Post
Recognizing your triggers is the key!!!!! Spend time identifying WHY..you are doing certain things that are detrimental to your trading...


Cheers

Hi YogaTrading,

May I ask you to share how you adressed that, in particular finding those triggers? I am kind of an andrenaline junkie too, need to do sports almost every day before I trade, keeps me calm. :-)

I hope you share and appreciate your advice.

Cheers,
Wernersabel

Reply With Quote
The following user says Thank You to Wernersabel for this post:
 
(login for full post details)
  #38 (permalink)
Las Vegas, Nevada, USA
 
Experience: Beginner
Platform: NinjaTrader
Broker: Dorman Trading
Trading: ES
 
YogaTrading's Avatar
 
Posts: 53 since Sep 2014
Thanks: 700 given, 108 received

Hi

Yes us adrenaline junkies have a rough time.!!!!

"May I ask you to share how you addressed that, in particular finding those triggers? I am kind of an adrenaline junkie too, need to do sports almost every day before I trade, keeps me calm. :-) "

My friend......That is the million dollar question and the answer is not easy or comfortable to find.

send me an email to lawler.kc@gmail.com
I will send you what my daughter gave, she is a complex trauma psychologist, very helpful !!
I now focus on me...not the trade...I set entry, the exit, and the stops...

Then I focus on what my emotional brain is telling me...
when it moves against me...do I have a "pit" feeling in my stomach?? Does the thought of losing bother me?
Recognizing the difference in "intuitive" .....and actual reality.
Our intuitiveness can NOT be replicated to be consistent!!!!

Cheers.......

Reply With Quote
The following 2 users say Thank You to YogaTrading for this post:
 
(login for full post details)
  #39 (permalink)
Lisbon, Portugal
 
 
Posts: 35 since Jun 2017
Thanks: 21 given, 45 received


YogaTrading View Post
Hi

My friend......That is the million dollar question and the answer is not easy or comfortable to find.

I will send you what my daughter gave, she is a complex trauma psychologist, very helpful !!

Then I focus on what my emotional brain is telling me...


Cheers.......

Thank you very much for sharing. That stuff really helped. Because I now simply ask myself how I would feel about a certain trade after closing it (post feelings if you want to put it that way), very helpful.

Hope that simple but very important thought will help others too.

Cheers,
Wernersabel

Reply With Quote
The following user says Thank You to Wernersabel for this post:
 
(login for full post details)
  #40 (permalink)
Fort Lauderdale, Florida, USA
 
Experience: Beginner
Platform: NT8, Bookmap
Trading: ES, MES
 
Posts: 149 since Feb 2017
Thanks: 70 given, 129 received


fivewhy View Post
This is me exactly. Thank you for sharing.

For me, at this stage, I believe I get drunk on my own self perceived prowess...and I don't realize I am intoxicated. This drunkenness causes me to get lazy--mentally and emotionally. I get too comfortable.

I then enter a trade a little haphazardly. But here's the critical point: it's not that the entry was necessarily that bad (tho it's not great either), instead, the bigger problem is my failure or inability to manage the trade soberly.

That is, my lethargy and drunkenness affects my ability to discern when is a proper time to exit, whether for a loss or gain. I think so highly of myself that I lazily think I can get away w this or that. My ability to a) be honest with myself on whether I am wrong, b) let go of an "incorrect" premise or bias, and c) manage my fears and greed in general, which comprises a lot of things...are all diminished.

The drunkeness makes me think I am doing the right things when in reality I am not. Self delusion. And I can even take a break for several days after a sustained cycle of gains, but still come back and subconsciously thinking I'm hot s*** and fall into this trap. It seems that no amount of time away sobers the mind. The only thing that sobers the mind is the pain of loss.

I used to think I was being intentionally self sabotaging, but I don't believe I'm being self sabotaging in a traditional sense. I think it is more akin to willful blindness/ignorance, and a love for feeling like the rules do not apply to me....that I am above the rules, that I am different or special. Of course, I know I am not special but I love slipping into that mindset.

My current conclusion is that one part of me is trying to influence the other part (the chimp?) by causing the lesson of pain; it's akin to a self correcting mechanism that functions automatically on it's own to rebalance the ship. And that lesson has to be retaught and retaught bc I'm so blind to my own blindness, and cannot see my delusional hubris. Oedipus?

To me, this is why trading is so deceptively difficult: success may actually beget failure, unlike just about every other area of life. I wonder, will trading be my white whale? At this point, I do not think so.

But, in order for it not to be, I must (among other things) figure a way to be cognizant of my "prowess" drunkenness. Lord that is so hard. That chimp loves getting drunk. I'm not young anymore, yet I fall victim to this hubris.

...in reference to the chimp others have mentioned, for anyone else interested: https://www.amazon.com/dp/039916359X/

So I just wanted to follow up on my prior post, particularly in light of all the valuable stuff shared here.

I have been reading this new book called The Laws of Trading (check Amazon if you want, it's new), and the first "law" it discusses is knowing why you trade.

After thinking about it, I realized that when I get into the state of mind I described in my prior post (quoted above) I am essentially trading to prove that the rules do not apply to me and that I am somehow above the normal everyday fray.

That is, I hit a string of wins and I get cocky and lackadaisical; then I poorly manage a trade and end up losing bigger than I should have.

But I said in my previous post that my lackadaisical management causes the loss. However, after considering what this book says, I see merit in the notion that... really...my purpose for trading changes and my subconscious intent drives me to make the poor decisions.

So what is my subconscious intent? ..to prove that the rules don't apply to me. And guess what, the rules of the market apply to everyone. Which I "know" but don't really know, or so it seems.

The other side of the coin is that this is, very much, a degenerate gambler's way of thinking. So I'm slightly perturbed by this thought/realization, and I'm not yet sure what to make of it or how to process it. Nevertheless, I wanted to share it here bc I think I should and I think it's healthy for me to do so. Vocalizing thoughts (such as in a trading journal!) is generally beneficial.

A few years ago, I said something on this forum about how I traded better when I didn't care if I gained or lost. I think I said this to @Grantx (tho forgive me for tagging you if I am mistaken). That is, I performed better when I had an emotional separation w my trading. But, in situations where I start performing much better than average, I begin losing that emotional separation. I become more emotionally attached to my trading bc I start to believe my gains are a reflection of me. The hard truth is that it's actually probably just probability.

For example, if red comes up on the roulette wheel 57 times in a row, and you bet red every time....are you lucky or are good? You could argue both, but mostly you're just lucky. Yes, you capitalized on a fortunate occurrence (and you deserve some credit for that) but you did nothing to make the wheel turn up red that many times in a row and you really had no way of predicting that result. With the roulette wheel, you're just a passenger who happened to get on the right train at the right time. Try to visualize that and imagine what you'd feel like if that actually happened; you'd feel amazing about yourself. Here's to hoping you know when to get off, too!

... fortunately, in trading, we can have a predictive edge, unlike w the roulette wheel. Well, actually I think my edge comes more in the management of the trade rather than the initial entry. But that's a different discussion.

But for me in my prior post, it's not that I fail to realize when it is time to get off the train. Rather, I want to prove that it does not matter when I get off. I want to prove that I am special and I can get off whenever I want, and that I will still win everything in the process. ...and we all know exactly what the market has to say about that. We all know.

Anyway, I haven't yet finished this book. But it is very well written. The word-for-word diction and sentence structure are righteously constructed. I can't yet vouch for the substance bc I am not finished. It should be read more than once. I paid $18 for it and I find it worth more than that and worth more than the time I spend reading it.

Anyway, next thousand trades. Next thousand trades.

Reply With Quote
The following 4 users say Thank You to fivewhy for this post:
 
(login for full post details)
  #41 (permalink)
Legendary Market Wizard
Georgia, US
 
Experience: None
Platform: SC
Broker: AMP+CQG
Trading: ES, HSI, Nikkei
 
josh's Avatar
 
Posts: 5,466 since Jan 2011
Thanks: 6,054 given, 14,510 received


Salao View Post
I'm not the most experienced trader, but all those problems listed on page 1...I got 'em. My answer was 'misreading the price action'. My reasoning for this was that if you print out a chart at the end of the day and take a look at it, or even study it, the price action signals were there. All the information was there to take the correct trade. If I did not take 'the trade' or entered on the wrong side of the market it is because I did not properly interpret the price action at that time or I missed a critical piece of information. When I look at my losing trades at the end of the day I find that this is often the case. I have a lot to learn about price action.

But sometimes I wonder if fear, FOMO, or some other emotion clouded my judgement enough to make it difficult to read the price action in a productive way.

Your last sentence really says it all.

I think "misreading price action" is the "easy out" option in this poll. Of course, at the end of the day, you can always see how you should have done things, but this is with the benefit of perfect hindsight. Looking at a chart at the end of the day is a useless exercise, unless of course it's in the context of examining trades you actually took; even then, it's only a static snapshot of what happened, and does not bring along with it any real sense of order flow, momentum, and your own emotions and thoughts which cannot be simulated or reproduced. Analyzing your execution and yourself (in real time, particularly) are far more valuable than analyzing a 5-minute bar chart at the end of the day.

So, while we all can say we "misread" the market, misreading the market is usually symptomatic of the two biggies that we all dance with: fear and greed.

Reply With Quote
The following 3 users say Thank You to josh for this post:
 
(login for full post details)
  #42 (permalink)
Legendary no drama Llama
Reading UK
 
Experience: None
 
Posts: 1,786 since Oct 2016
Thanks: 2,807 given, 5,015 received


josh View Post
Your last sentence really says it all.

I think "misreading price action" is the "easy out" option in this poll. Of course, at the end of the day, you can always see how you should have done things, but this is with the benefit of perfect hindsight. Looking at a chart at the end of the day is a useless exercise, unless of course it's in the context of examining trades you actually took; even then, it's only a static snapshot of what happened, and does not bring along with it any real sense of order flow, momentum, and your own emotions and thoughts which cannot be simulated or reproduced. Analyzing your execution and yourself (in real time, particularly) are far more valuable than analyzing a 5-minute bar chart at the end of the day.

So, while we all can say we "misread" the market, misreading the market is usually symptomatic of the two biggies that we all dance with: fear and greed.

Post trade analysis aka the curse of knowledge.
Your ability to reason through your past actions is compromised by knowledge of the outcome.
You overestimate the degree to which you would have predicted the correct outcome.
You underestimate the possibility that things could have turned out a different way.

With post analysis you most definately will not be accounting for the heuristic shortcuts and biases that your brain uses. All you see is a sequence of events which suggest causality. THats why everyone sits there in hindisght getting all confused about decisions that were made. You dont know yourself well enough. The fight will go on until you stop trying to figure the market out and start to figure yourself out.

Visit my futures io Trade Journal Reply With Quote
The following 7 users say Thank You to Grantx for this post:
 
(login for full post details)
  #43 (permalink)
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 6,367 since Jan 2013
Thanks: 48,513 given, 21,327 received


Grantx View Post
With post analysis you most definately will not be accounting for the heuristic shortcuts and biases that your brain uses. All you see is a sequence of events which suggest causality. THats why everyone sits there in hindisght getting all confused about decisions that were made. You dont know yourself well enough. The fight will go on until you stop trying to figure the market out and start to figure yourself out.

This is a seriously important post. Probably the most important thing I have ever read on trading.

Also, very hard to either understand or to accept.

Bob.

Visit my futures io Trade Journal Reply With Quote
The following 8 users say Thank You to bobwest for this post:
 
(login for full post details)
  #44 (permalink)
St. Louis
 
Experience: Beginner
Platform: thinkorswim, NT8
Trading: equity and fx futures and options
 
Leon of Pizza's Avatar
 
Posts: 137 since Sep 2013
Thanks: 99 given, 188 received

I didn't vote, but would have gone for "breaking rules" because its close enough to my problem of scratching trades. And I have a rule against scratching trades...

I plan every trade. So if I change either exit - I log it as a scratched winner or scratched loser - not based on the trade's realized P/L, but on the original plan. I use those numbers and the regular W/L numbers to track my Managed to Plan ratio. I did 21% in Aug and that's 2 points higher than my average YTD. And it sucks. My W/L is consistently positive, so I see this low Managed To Plan (MTP) number as a substantial opportunity cost that I'm inflicting on myself. For Aug, it was a 27% dent in my profit. The sad irony is that the planning method is designed to negate the need to manage a trade on the fly. If there was a choice for "I'm a pathetic robot", I would have voted for that.

Reply With Quote
The following user says Thank You to Leon of Pizza for this post:
 
(login for full post details)
  #45 (permalink)
London United kingdom
 
 
Posts: 11 since May 2018
Thanks: 0 given, 1 received


Big Mike View Post
Doesn't anyone else find it interesting that "risking too much for account size" is in last place in the polls?

Mike


I know this was a while ago, but, I really don't like it when people say you need about 10k to start trading, when you actually probably only need half that. If I had a 10k account, I think I'd give up trading if my drawdown was >45% since that is a lot of money to me. So why not start with 5k and keep the other 5k in your bank rather than letting your broker hold onto it?

Reply With Quote
 
(login for full post details)
  #46 (permalink)
Tulsa + Oklahoma/United States
 
 
Posts: 11 since Aug 2018
Thanks: 2 given, 14 received

I need to stop friggin' trading when there's nothing to trade (that follows my trading style). Stupid.

Reply With Quote
The following 2 users say Thank You to TraderMichaelB for this post:
 
(login for full post details)
  #47 (permalink)
Bristol/London+England
 
 
Posts: 9 since Sep 2019
Thanks: 8 given, 10 received

I want to vote "overtrading" or more likely "something else".

I'm pretty happy with my trading in terms of return etc.
BUT I think trading needs to be efficient.
Sometimes I sit watching screens when I don't need to be. Sometimes I read too many reports. Like in the past, I'd use too many indicators.

Instead of screenwatching, I could be exercising (even while watching the screen), I could be working on my other business, or doing something else entirely.
I'd also like to improve the business side of my trading and the networking side.
I think these can be just as important as how you buy, sell and leverage.
In other words, particularly in the past, I'd like to be more efficient with my time.

Anyone else (probably those who have traded a while) feel like/have felt like that?

Reply With Quote
The following user says Thank You to Snowtiger for this post:


futures io Trading Community Traders Hideout > What is the single biggest area you need to improve as a trader?


Last Updated on September 19, 2019


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
 

Battlestations! Show us your trading desk - $1,500 in prizes!

March
 

Importance of Finding Your Own Way w/Adam Grimes

Elite only
 

Journal Challenge w/Jigsaw

April
     



Copyright © 2021 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