Confessions of a compulsive close-button clicker | Forex Factory

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Confessions of a compulsive close-button clicker

  • #1
  • First Post: Nov 6, 2006 4:18am Nov 6, 2006 4:18am
Alright, You guys probably had this feeling before when your trade runs up to +50 pips or more. Then you start seeing it slipping pip by pip... down to +30 pips or so... You mind tells you that it is retracing a little, it'll go up eventually, but you feel the itch on your index finger resting on the mouse, where the cursor hovers around the close button on MT4... I closed the trade unfortunately, for the 3 third time last week. Only to see the price hit my TP level. Of course, I've the trade gone bad and hit my SL at breakeven. I've had losses too, which unfortunately reinforce the urge to take my pips whenever I can.

Still, I'm trying to learn how to seperate my emotions from my rules. It's a rough ride, I'm making progress. Meditation's out for me.

There must be some way to ride it out, for good or for worse...
If my answers frighten you then you should cease asking scary questions.
  • #2
  • Nov 6, 2006 5:02am Nov 6, 2006 5:02am
The trouble for me stemmed from the fact that I had no faith in the system i used. It is such a trading cliche, but once I cobbled together a system that is mine alone I am able to sit on my hands and let the trade run because I trust it will reach the TP I have set more often than not.

It may be as simple a fix as reducing the trade risk or taking 1/2 profit and moving the stop to break even and let it go whatever happens.

U could also try hitting your 'clicking finger' w/ a hammer. The pain of clicking would make you think twice before closing.
In trading, there is no bullshit. You either make money or you don't.
  • #3
  • Nov 6, 2006 5:25am Nov 6, 2006 5:25am
I see two suggestions for you edge-t:

 

  1. Depending on your trade size, try scaling out of a position until you get those emotions in check, but under no circumstances use that methodology to open a position that is too large for your account size thinking you need to to scale out.
  2. Test the bajeebaz out of the system you use. I know it sounds boring (and it is at times), but if you test test test you will have the hard proof that the system's rules work or not. If they do after testing it properly, then you can think logically at those times. Post the results on your wall if you have to!

Best of luck, at least you have some going into profit, many don't

You can quit and they won't care, but you will always know.
  • #4
  • Nov 6, 2006 5:30am Nov 6, 2006 5:30am
Quoting Akuma99
Test the bajeebaz out of the system you use. I know it sounds boring (and it is at times), but if you test test test you will have the hard proof that the system's rules work or not. If they do after testing it properly, then you can think logically at those times. Post the results on your wall if you have to!
In my opinion you're not going to get any better advice than this. I would heed it.
  • #5
  • Nov 6, 2006 5:42am Nov 6, 2006 5:42am
Quote
U could also try hitting your 'clicking finger' w/ a hammer. The pain of clicking would make you think twice before closing.

LOL, you almost killed me with that line. Thanks for the advice, I've been trying to follow some advice from peeps around the forums, it does help, when ever I read them. The moment I see the pips slip, all good senses go out through the ears.

I've been trying this method for the past few days, I demo trade on the 4 hours and daily charts, the moment I open a position, I turn off MT4 and wait for the candle after 4 hours or a day to form before checking. Still, I have the urge to constantly check.

And yes, testing the system is boring as hell! But great advice, thanks! I figure that if I try my best, I might just make it someday.

Good trading everyone!
If my answers frighten you then you should cease asking scary questions.
  • #6
  • Nov 6, 2006 12:13pm Nov 6, 2006 12:13pm
here's a solution..

open trade
place s/l, and tp
turn off monitor..
go watch tv..
  • #7
  • Nov 6, 2006 1:53pm Nov 6, 2006 1:53pm
Quoting hilmy83
here's a solution..

open trade
place s/l, and tp
turn off monitor..
go watch tv..
I agree. If you trust your system and to some extents your broker don't bother staring at monitor.
  • #8
  • Nov 6, 2006 8:53pm Nov 6, 2006 8:53pm
Quoting hilmy83
here's a solution..

open trade
place s/l, and tp
turn off monitor..
go watch tv..
Unfortunately, I can't I have a job, but I trade on my office computer. Which is why the urge to check every other minute I'm free is over-whelming. Still, I'll turn off metatrader after placing a SL and TP with a trailng stop.

Wondering though, does the SL, TP and trailing stop still work when you turn off metatrader? Or does it execute command from metatrader on your computer, not from the broker server?
If my answers frighten you then you should cease asking scary questions.
  • #9
  • Nov 6, 2006 9:05pm Nov 6, 2006 9:05pm
Quoting edge-t
Wondering though, does the SL, TP and trailing stop still work when you turn off metatrader? Or does it execute command from metatrader on your computer, not from the broker server?
All market orders (stops, limits, trails, etc.) reside with your broker. You could, in fact, place a trail on one of your positions, turn your computer off, then procede to throw it out the window of your office building. The trail will execute fine, so as long as your brokers computers arn't thrown off their buildings as well.

The only scripts MetaTrader executes are those programmed inside of Expert Advisors. If you are running an EA to generate that trailing stop, the broker will not receive it if your computer crashes (or is thrown out of the building).
  • #10
  • Nov 6, 2006 11:35pm Nov 6, 2006 11:35pm
Quoting twinchell
All market orders (stops, limits, trails, etc.) reside with your broker. You could, in fact, place a trail on one of your positions, turn your computer off, then procede to throw it out the window of your office building. The trail will execute fine, so as long as your brokers computers arn't thrown off their buildings as well.

The only scripts MetaTrader executes are those programmed inside of Expert Advisors. If you are running an EA to generate that trailing stop, the broker will not receive it if your computer crashes (or is thrown out of the building).
Cool! That means I can turn off metatrader and proceed on with my day job. At least there won't be a metatrader on my taskbar screaming out for me to click on it and check the price action.

Thanks for clearing my doubts Twinchell!
If my answers frighten you then you should cease asking scary questions.
  • #11
  • Last Post: Nov 6, 2006 11:52pm Nov 6, 2006 11:52pm
Quoting twinchell
All market orders (stops, limits, trails, etc.) reside with your broker. You could, in fact, place a trail on one of your positions, turn your computer off, then procede to throw it out the window of your office building. The trail will execute fine, so as long as your brokers computers arn't thrown off their buildings as well.

The only scripts MetaTrader executes are those programmed inside of Expert Advisors. If you are running an EA to generate that trailing stop, the broker will not receive it if your computer crashes (or is thrown out of the building).
trail stop will not be active if the MT4 terminal is close. i think. quote below from the help file.

Quote
Attention: Trailing Stop works in the client terminal, not in the server (like Stop Loss or Take Profit). This is why it will not work, unlike the above orders, if the terminal is off. In this case, only the Stop Loss level will trigger that has been set by trailing stop.
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