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I find it strange that so many of the traders here believe that being completely stoic is the way to trade. No Emotions. Follow the system to the letter.
More and more I'm finding that when I listen to emotions during the trade, the more winning trades I have.
Like when I feel the "stall" in price movement, determining whether it's going to go sideways, retrace or continue, and what is the amount of time it could take in each of scenarios, is a lot more feel, than system. Or when a trade is going against me, getting out before my stop gets punked, or reversing...
Just thought I'd throw that out there and see if anyone else happens to agree, or if I'm on an island on that one.
Can you help answer these questions from other members on NexusFi?
I think emotionless trading is one of those things traders go thru on their journey.
They start with making a lot of mistakes, usually from emotion (psychology), then they try to eliminate all emotion to correct the problem.
The truth is somewhere in the middle like most things. To quote Dr. Brett, "If you trade without emotion you have no feel for the markets" (something like that).
This is more in line with subjectivity than your emotions. Emotions create fear and greed. Fear in that you bail out of a winning trade because the price movement goes against you. Or hesitate to pull the trigger when you see an edge. Greed in that you try take more out of a trade than than what the market is giving you.
Emotions can't be eliminated. One should listen to them and use them as just another indicator. Some emotions are really your inner self seeing something in the market and trying to tell you.
Thats " intuitive " trading you are describing . Nothing wrong with intuitive trading but for many , like you said , its about the odds and the long run of probabilities . For me it is about odds and probabilities but thats what works for me and it fulfills my trading needs . I think each market and instrument is best approached by either a methodical or intuitive approach . Index eminis are a good place to develop an intuitive approach whereas currencies are better if approached with a method . The way prices move in forex is very different than index futures and its tough to consistently anticipate price moves but ES tends to let you feel its about to "stall" .
Good topic too , I agree in that a lot of people here might be spooked by getting a beating so they cling to a rigid set of rules .
BTW - Id be careful with the emotions and dont get caught knowing whats going to happen next . Its a good way to start omitting stop orders, cutting winners short and leaves you vulnerable to a death spiral . This is coming from someone whos been there .
So I tried to go solely on emotion feel for the indexes just to see what would happen, and it wasn't a disaster at all.
However, it is not easy to sit in a trade and wait for it go your way in those cases. It's a jittery trade, which in my book, isn't a good way to trade.
My thoughts on the subject now - adjust targets and stops after frequent market assessment of the intensity of price action... that said, you never know, when in a thin trade, whether someone's is going to drop a 500 lot to bust some stops.
