I can't get rid of my bad trading habits... | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Let's Build Your Account Back Up Discussing Bad Trading Habits!! 31 replies

How do i get rid of alerts? 3 replies

hwo to get rid of teh Buy line and Sell line 2 replies

Attachments: I can't get rid of my bad trading habits...
Exit Attachments

I can't get rid of my bad trading habits...

  • #61
  • May 19, 2018 6:13pm May 19, 2018 6:13pm
Quoting Jay Walker
{quote} Hard stop at 100 pips. If it moves further, those pips and that money is left on the table The hard stop may be the lesser evil but leaving money on the table sucks. Thoughts?
Opportunity lost is better than capital lost.
  • #62
  • May 19, 2018 6:46pm May 19, 2018 6:46pm
Quoting Jay Walker
If it moves further, those pips and that money is left on the table The hard stop may be the lesser evil but leaving money on the table sucks. Thoughts?
//-----

half a bundle is still a bundle.....h
to trade and code, keep both simple... no call to impress....h
  • #63
  • May 19, 2018 8:18pm May 19, 2018 8:18pm
Quote
1.) Moving SL into profit after price goes nicely in my favor. Once moved and placed on a correct position and price comes back and close to my SL, I start moving it around, hoping price will go into my direction again and often just get taken out with a small profit instead.
that mean your strategy not complete , you should adapt your strategy with your habits , (body+soul lol), you should set clear rule when you should move your stop exactly.

Quote
2.) Not taking profits when my feeling says I should ... or when reaching a decent risk:reward. Instead, I get greedy and very often punished, resulting in profit returning (but once I do not let it run and take my profits, price flies away in my favor .. ugh).

again your strategy not complete nothing called (when my feeling say i should), real traders working as robot (1+1=2), you should have rule when you should exit trade and when not.

Quote
3.) Using a working and tested strategy of mine but sometimes still second-guessing myself and then missing the entry ... and then cursing myself why I didn't take the trade. Not sure how to improve that.

not just winning and losing trades , keep in your mind there is always missing trades not just about winning and losing trade , but again if you hesitate to enter trade or not then your strategy still need more work so you can reach to work as robot.

Quote
So far that's all as far as I remember. Any tips and advice? And before someone says I should read trading psychological books ... I did and it was fine but after few days/weeks, my bad habits are back that refer to psychology.
no, i will not tell you that because all that books , articles, famous quotes , just BS , you can write one and you get more money than trade forex lol
  • #64
  • May 19, 2018 8:37pm May 19, 2018 8:37pm
Do this for a full month:

1.- Take every trade exactly how your aproach/strategy tells you; mechanical/consistent rules, NO BENDING, NO CHEATING, NO FEELINGS !!

2.- Put hard Stop Loss and Take Profits THAT MAKE SENSE !! dont go for stupid targets that will never get hit up or down, period

3.- Take a trade and wall away from your computer, turn it off, leave the house, do something else, Tomorrow its a new day


FULL MONTH.. develop a habit and the results will speak for themselves; listen to them instead of you !!!


Thats all.. enjoy, cyu in a month lol
  • #65
  • May 20, 2018 9:03am May 20, 2018 9:03am
Your Prefrontal Cortex understands that you shouldn't move your stop loss too early, not to over trade, not to take big risk, not to trade on uncertain market conditions etc.; in other words - it's cognitive control of your behavior. But then - stress comes in and Prefrontal Cortex shuts down and you start to fall into your own old habits.
Habits on the other hand goes like this trigger-behavior-reward-repeat, if you moving your stop loss it's only you made a behavior of doing that in the past, trigger (price moved back to your entry point) - behaviour (you moved SL) - reward (not loosing a trade) - and repeat. So just like someone said here before - you need to analyse what's where and what. What triggers your emotions, maybe it's not even related to strategy at all.
I had bad trades before coz i slept too much in the morning, I rushed my trades without reading any news or calendar, I jumped in the middle of the action, that was really bad habit. Now I wake up at 5a.m. every morning - no matter if it's Monday, Sunday, or holiday. So I changed my behavior. I no more trade without analysis technical or fundamental. Trades improved.
I traded whole bunch of different instruments, it was hard to follow all of them, i lost. Now i trade only majors. Trades improved.
I still have issues, but I know them, I know where they come from, I know how to fight them.

Good luck in your journey.
  • #66
  • Last Post: May 20, 2018 11:17am May 20, 2018 11:17am
Me too can't get rid " i know it" sometimes i feel frustrated when i lose my money because of that habit.
0 traders viewing now