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

  #1 (permalink)
Site Administrator
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What is the single biggest area you need to improve as a trader?

Hey guys,

New poll:

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

 


Please vote and discuss.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
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6)
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  #2 (permalink)
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  #3 (permalink)
Legendary Market Wizard
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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 ! ! !
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  #4 (permalink)
Al,India
 
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I wish to vote for "Not having a trading plan"

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  #5 (permalink)
Sarasota FL
 
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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.

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  #6 (permalink)
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Couldn’t agree more


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?

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  #7 (permalink)
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bmveee View Post
We should start a group akin to AA. Who’s in favor?

It's called a trading journal.

Bob.

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  #8 (permalink)
Chicago
 
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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

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  #9 (permalink)
Chicago
 
Trading Experience: Beginner
Favorite Futures: (June 13, 2019): /MESM9 - current expectancy = (9.8025 * 0.7043) - (10.5588 * 0.2957) = 3.7817 ticks
 
snax's Avatar
 
Posts: 362 since Feb 2019
Thanks: 808 given, 651 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!

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  #10 (permalink)
Lenox, Ma
 
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Posts: 41 since Dec 2018
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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!!

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