How do you eliminate the itchy hand problem? | Forex Factory

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How do you eliminate the itchy hand problem?

  • #1
  • First Post: Oct 6, 2017 7:16am Oct 6, 2017 7:16am
I have spend thousands of hours to study PA for now and my skill is not extra ordinary but technically, I certainly meet requirements to trade live but i have this one issue.

- itchy hand

I often take a setup even though i knew it wasnt an a plus setup.

For you pro traders, how to eliminate this deadly habit??

What do you do to be not itchy? Need methods to eliminate this bad habit forever.

I believe I will make money consistently if can remove this habit.. This habit is my only hindrance right now.



Thx
Life Is Good
  • #2
  • Oct 6, 2017 7:40am Oct 6, 2017 7:40am
You probably know the answer:

- Self control
- Don't take the trade if it doesn't meet all criteria
- Trade bigger size, so you'll take it more seriously
- Let go of the need to make money here and now, today
- Have standards ("I don't take this trade, because it doesn't look good enough, so it doesn't worth my money, risk and attention to enter the market.")

There isn't some magic trick you can perform to get over this. I usually have 1 trades a day. All this week I had one, which looked good enough. And even that was a loss.

Am I satisfied? Fuck no. But that was what the market gave me this week. No matter how much I would have pushed, I wouldn't have had any better results this week, because I didn't miss any other good looking setups. But I could have racked up many more losses than this one (where even my stop was moved in my favor about halfway the original risk), if I take more low probability setups.

Trading is not about how much do you trade, or how much do you make, but about how much do you make net. The only way to maximize the net profit is, if you take as many A+ trades on the long term as possible (especially if you know you have an edge on the market).
Price and volume reveals everything. The market moves on supply and demand.
  • #3
  • Oct 6, 2017 7:46am Oct 6, 2017 7:46am
Quoting cowcool
I have spend thousands of hours to study PA for now and my skill is not extra ordinary but technically, I certainly meet requirements to trade live but i have this one issue. - itchy hand I often take a setup even though i knew it wasnt an a plus setup. For you pro traders, how to eliminate this deadly habit?? What do you do to be not itchy? Need methods to eliminate this bad habit forever. I believe I will make money consistently if can remove this habit.. This habit is my only hindrance right now. Thx
Its not a problem of itchy hands but actually its problem of discipline and self control and greed control.
This will be solved with experience of losses due to the above.
Some things just take time.
When the going gets tough , the tough get going
  • #4
  • Edited 1:17am Oct 7, 2017 12:48am | Edited 1:17am
First of all, there is absolutely no such thing as an "A plus setup", hind sight is always 20/20.

it took me a LONG TIME to resolve this issue.
I found the solution by accident.
I will spare you the boring details.

==> Don't decide if you should put on a trade or not, have a program do it for you (Expert Advisor if you you MT4).
Once the system puts you in a trade, deal with it, live with it.
  • #5
  • Oct 7, 2017 2:19am Oct 7, 2017 2:19am
Quoting cowcool
I have spend thousands of hours to study PA for now and my skill is not extra ordinary but technically, I certainly meet requirements to trade live but i have this one issue. - itchy hand I often take a setup even though i knew it wasnt an a plus setup. For you pro traders, how to eliminate this deadly habit?? What do you do to be not itchy? Need methods to eliminate this bad habit forever. I believe I will make money consistently if can remove this habit.. This habit is my only hindrance right now. Thx

It depends on how you trade, really. But I pre-emptively plan my actions and take my hand off the mouse until I see what I'm looking for. Especially because my mouse can be sensitive and lifting my finger off the button for hours becomes tiring (I've been drawn into quite a few mistakes from accidental clicks). Go in with a plan and be prepared to spot opportunities. Pressing the button should only be within the parameters of that plan (selling a few pips short of TP for instance or adjusting a stop to Break Even).
"The fun is in the hunt. Not the kill."
  • #6
  • Oct 7, 2017 2:39am Oct 7, 2017 2:39am
Quoting Mingary
First of all, there is absolutely no such thing as an "A plus setup", hind sight is always 20/20. it took me a LONG TIME to resolve this issue. I found the solution by accident. I will spare you the boring details. ==> Don't decide if you should put on a trade or not, have a program do it for you (Expert Advisor if you you MT4). Once the system puts you in a trade, deal with it, live with it.

Not entirely true. There are A+ setups. The french election that really set the EUR rally off a few months ago was one big A+ setup. Fundamentally and technically.
"The fun is in the hunt. Not the kill."
  • #7
  • Oct 7, 2017 7:44am Oct 7, 2017 7:44am
Quoting VEEFX
{quote} You can try and see if one of these help {image}
Witty Answer and to the point.
I like your sense of humor
When the going gets tough , the tough get going
  • #8
  • Last Post: Oct 11, 2017 4:29am Oct 11, 2017 4:29am
Quoting cowcool
I have spend thousands of hours to study PA for now and my skill is not extra ordinary but technically, I certainly meet requirements to trade live but i have this one issue. - itchy hand I often take a setup even though i knew it wasnt an a plus setup. For you pro traders, how to eliminate this deadly habit?? What do you do to be not itchy? Need methods to eliminate this bad habit forever. I believe I will make money consistently if can remove this habit.. This habit is my only hindrance right now. Thx
Patience mate, the main thing is patience.
Often traders enter a loosing set-up only for the sake of trading. So good observation skills, well prepared analysis, and strict money management and patience come in handy.
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