Exercises to help follow trading rules

Hello traders,

I have now a system of trading. I trade since 3 years now, but i still have big problems.


I cant follow my rules, especially stoploss and i always need to have a trade in position, even if my rules tell me that i must stay out of market.

Do you have some exercices, training for me, too help me progressivly to follow my rules? Go out of market when i must do it (SL) and not always be in market?

Thanks for your help and sorry for English.

What you are missing here is DISCIPLINE. Nothing else than yourself is involved in this ... You have to master this lack yourself. There's no "tool" for this.

keep 2 accounts

one cent account in which you do all your bull shiit trading and another one will be serious one in which you do serious trading.

Problem solved by this formula you will be always in a trade and wont lose serious money.

Well, as others have posted ... you really have discipline problems.

A good exercise is:
Each time you do not follow strictly the rules ... use the trick of the elastic band.

I believe you will improve very quick!

You need to practice discipline. It's as simple as that.

Discipline posts and Discipline exercises

http://www.forexfactory.com/showthre...58#post3483758

http://www.forexfactory.com/showthre...62#post3569062

http://www.forexfactory.com/showthre...27#post4907127

http://www.forexfactory.com/showthre...59#post6960159

[quote=CrucialPoint;7713051]Discipline posts and Discipline exercises

Thank you for the Crucial Points.

My suggestion would to keep a detailed journal of all your trades.

Trade the 1 minute charts and smaller. You'll always be in the thick of the action then, trading alongside the bots, EA's and high frequency traders.
Once you get tired of being buffeted about and losing money in those conditions I'm sure you'll eventually step back and develop the patience and discipline you need.

Action should be inspired... My guess is that your trading system does not fit your personality or trading goals.

No point forcing it. Change it up to something you want to stick to.

You don't need exercises. You need to find out WHO you are.

You are suffering from a lack of confidence. That lack of confidence stems from your beliefs about Success and Failure. That lack of success stems from a lack of consistency and such inconsistent results stems from a lack of understanding behind the "WHY" you are trading in the first place. You first need to understand why you are trading and the how will come more fluidly, allowing you to remain true to your own rules.

This is all predicated on your own internal belief system. Your brain is hardwired to function a certain way to protect yourself. There is a primal component that is neurologically based and it has significant impact on your conscious level decisions whenever you sense the potential for Pain or Pleasure. You need to understand how your primary brain works in this regard.

Your secondary brain is re-writable, however. You can control that by re-scripting (literally re-encoding) the neurological pathways inside your developed brain to change your thought patterns and thus your response to external stimuli at the conscious level. What you have to realize is that YOU are not your feelings and YOU are not your emotions. Those components are a part of your physiological make-up as a human being - normal for anyone. Just because you "feel" something, does not mean you are bound to act upon it. Therefore, you need to learn how to develop physiological interrupts that disrupt the emotional charge being sent to the brain, so that you can remain in control of your thoughts and by extension your actions. This is the battle ground for your Mind.

Mr. Howell, says it better than I could ever hope to say it. This video is one of the best I've seen in getting to the real heart of the matter and explaining the WHY behind your impulsive actions as a Trader. It take time. It will not happen overnight. However, you can be in total control of your decisions as a Trader and indeed, you must.

Howell, is not going to tell you that you should not "feel." All human beings "feel." What he's trying to convey to you is that YOU are not your "feelings" and therefore, there must be a higher ordered YOU that remains in control of your behavior. He's trying to help you reach that higher ordered YOU, so that the real YOU can accomplish your goals as a Trader - to be successful.

This video will teach you some things about yourself that you may not like about YOU - it did for me. It will question, WHO is truly in control of your thoughts and it will cause you to think about WHY you are being driven impulsively and HOW you can begin to take control of that process.

I would recommend this video to anyone calling himself or herself a "Trader."




I was never here. I am a ghost.

You will find the answers you are looking for in your birth chart

I found the book " Trading in the Zone" by Mark Douglas to be very helpful. It's basically the industry standard book on trading psychology.

Where is the LIKE button when you need it :-)

If you have to fight your rules, then change your rules.

You will find all the axioms and tenets of "proper trading" have been created to make you lose.

The last statement is also a rule, therefore to be disregarded as well...

I am yet to be lambasted by the efficient market hypothesis which is probably just around the corner but please give me my small moment of insane optimism :-)

oh no, not again (:

Hehehe. I have a depressing read ahead of me which drives the point home in "Evidence-Based Technical Analysis" by David Aronson. You might need to give me a tissue as I think it is going to end in tears :-)

I found the insights in the atcmt here very helpful, even if its a bit 'self helpy'
http://www.forexfactory.com/showthre...15#post7536015

I bet you can skip to the last page and read:

In conclusion, the evidence shows that nothing can provide a winning edge.