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Have a profitable automated strategy but trade often recklessly on the side.
I've been running a CL trading strategy on NT7 for many years and if I had left it alone I would be in a pretty sweet spot financially.
Every once in a while I either get bored, want to cover for some losses, add to my gains. Those trades are nearly always reckless and sometimes ending up blowing up a large portion of my account. Those trades often happen late at night.
I've read some of the sticky.
Most of the advices here are for manual traders. However, I feel my case is a bit different as I am ruining automated trades with manual ones.
I do have remote desktop on my phone and check it all the time.
I feel that removing remote desktop from my phone would help. But then again nt7 is very flaky, I'd like to know it hasn't crashed.
Any advice on getting back in control and not do any manual trades.
Not having a chart could I think help. But then I like to visualise how my strategy performed on the chart...
Maybe start a journal?
I tried to get my partner involved, but we both don't know how to make it work.
I also have booked an appointment with a psychologist next week. Has this helped anyone?
Thanks,
Chris
Can you help answer these questions from other members on NexusFi?
Well Chris here is the thing. You said yourself that you would be in a sweet spot had you just left it alone. So the answer is simple, leave it alone. So that's the simple answer, and you know it too. But I understand what your asking, and going through. For me there wasn't any answer to your question other than pain. And that pain came in losing accounts, over and over again. Doing the same thing over and over again to the degree that I thought something was actually broke in me, and it was! I made BAD DECISIONS, like all the time and I based trades off of what I "thought" would happen, other than what I knew should happen. A psychology's might help, unless your override he's suggestions for you But the answer your after usually comes to most of us through pain. Because if you could do right, then you would, right?
It's easier said than done. the pain set me back in place for a few weeks or months and then it's forgotten and I am back on my bad habits.
I wish I could treat this as someone else money.
Thinking of having coffee catch up with my partner daily when I go through the trades of the day before to make myself accountable.
LOL I understand! I understand completely. In the end I was gambling. Because gambling is exciting, until it's not! That line between a system and gambling and "discretion" got blurred. Just had to experience enough pain before I changed. We think we will do right, until we don't. I say, " I wont really do that " then I do. So...pain, lot's of pain to change. And I'm super stubborn so I required more than most. But that stubbornness is also what keeps you searching, when most people just give up.
Accountability in the end has to come from self. Because as long as someone else is holding you accountable, your still thinking your smarter than them. It will work, for a while. But you, "me" will make the same mistake again, unless we change our self. The part that's broke. That's my two cents!
I second what is said here already, your problem is what prompts discretionary traders to move to automation but you seem to be interfering with your automated system and turning it back to discretionary, only solution to this is "stop interfering"
"Psychologist" is very touchy subject, few sessions could certainly help you understand what is underlying problem.
From what you've written, I can see that you have a clear problem with discipline. It's bad, and it's already starting to cause you problems in trading. It seems to me that you really need to think about the need to start your own trading journal. There you will write all your thoughts about failures, write down all successful and unsuccessful trades. This way you will understand a little more about what and how you are doing wrong, analyze your mistakes.