Post by society on Apr 6, 2015 20:54:45 GMT -5
A little about myself, im a stay at home dad. I have been trading for 4-5 years but now just looking to make a little scratch to help out and replace the income of my former career. Basically a break-even trader now. I did the whole indicator/holy grail thing, for a while and its finally over as of a few weeks ago actually. I had alot of initial success in trading due to the eur/usd trading in a distribution phase and I just happened to be trading a distribution method, then when the down trend started I was destroyed trying to fade every move further south, without understanding why.
As I said Im pretty much a break even trader for the past year or so. This past quarter had me up quite a bit in my account only to give it all back. Which lead me to reevaluate my trading and what I was doing, I realized I was trading like a child trading with adults. Which lead me to clean the charts and really look at price and price levels, though i still use tick volume to some degree and think VSA is one of the best methods I have found, but it could be said that anything that distracts from price detracts from price.
I have basically struggled on the pendulum of trading for the entirety of my trading history and if I look at it, life history. I have 10-20% weeks scalping then give it all back through some form of psychological self destructive break down. I recently wrote another trader; It seems to work best when I dont think about it to much, take the setup and scalp the win or take the loss. I am almost in self destruct mode if I hold overnight, the couple times I do and it works out great it reinforces the majority of times it doesn't. Mostly i guess due to the could have been trades that I scalp for a small win but see move another 100 pips....ugh.. But slowly these things are being ingrained via pain. When Im trading really well I will take 80% off the move leave the rest to run and if it stops me out fine, My losing mentality is always to revenge trade, widen the stops if any sometimes, try to make back the losses, try to get it back by holding longer. The kicker is I know this stuff consciously, but i guess i lose it in the moment and the self destruction kicks in, and it spirals, until i take a step back, which is where im at now. Its a pendulum, Im just trying to figure out how to stop it from swinging back the other way when im trading well or doing anything well honestly, I have noticed this pattern in other areas of my life as well.
So right now Im basically in a holding pattern, studying price daily as much as I can, reading and looking for a psychological method to stop the pendulum.
As I said Im pretty much a break even trader for the past year or so. This past quarter had me up quite a bit in my account only to give it all back. Which lead me to reevaluate my trading and what I was doing, I realized I was trading like a child trading with adults. Which lead me to clean the charts and really look at price and price levels, though i still use tick volume to some degree and think VSA is one of the best methods I have found, but it could be said that anything that distracts from price detracts from price.
I have basically struggled on the pendulum of trading for the entirety of my trading history and if I look at it, life history. I have 10-20% weeks scalping then give it all back through some form of psychological self destructive break down. I recently wrote another trader; It seems to work best when I dont think about it to much, take the setup and scalp the win or take the loss. I am almost in self destruct mode if I hold overnight, the couple times I do and it works out great it reinforces the majority of times it doesn't. Mostly i guess due to the could have been trades that I scalp for a small win but see move another 100 pips....ugh.. But slowly these things are being ingrained via pain. When Im trading really well I will take 80% off the move leave the rest to run and if it stops me out fine, My losing mentality is always to revenge trade, widen the stops if any sometimes, try to make back the losses, try to get it back by holding longer. The kicker is I know this stuff consciously, but i guess i lose it in the moment and the self destruction kicks in, and it spirals, until i take a step back, which is where im at now. Its a pendulum, Im just trying to figure out how to stop it from swinging back the other way when im trading well or doing anything well honestly, I have noticed this pattern in other areas of my life as well.
So right now Im basically in a holding pattern, studying price daily as much as I can, reading and looking for a psychological method to stop the pendulum.
