Hey Ryan! Steven's Point huh! Nice. From SE WI myself (Delavan). Thanks for your post and suggestions. I am going to try to put them in my own words to ensure I'm understanding you correctly.
I've read through your post several times. It seems you are saying that the emotion of trading will never go away, regardless of how slowly one builds up their risk, regardless of account size. That makes sense to me. So the question becomes - why have 38 steps to get to the full account size? Why not have 10 steps? Or 5? Why have steps?
In my case, it's somewhat just being the structured person I am and it's somewhat fear based. I have had a plan for everything I have done so far and it's gotten me this far already without blowing up.
What about fear? I could be dealing with the fear of blowing up or the fear of profits beyond my expectations. Both are unknown to me and I tend to fear the unknown. Gaining knowledge/experience can mitigate that fear to an extent however. My motive for having steps is to gain knowledge and experience to wash away the fear as I start risking more and more. But that is impossible to fully do, regardless of how systematic I am and regardless of how slowly I build that risk.
So the solution? Maybe you're suggesting to build to full risk faster and then just be mindful of the fear that will come? Work through the fear and focus on trading my plan (taking trades according to my plan and managing them according to my plan)? Maybe that's what you mean by money management.
I don't have a strict profit taking plan like you have used (full tp at 2R is what you use based on your previous posts right)? Is that what you mean when you say I'm missing some things in my trading? That I should be focusing on increasing my R:R, letting profits ride a bit longer?
Thanks again Ryan for your feedback and the time you gave to reading my journal. You represent WI well
I've read through your post several times. It seems you are saying that the emotion of trading will never go away, regardless of how slowly one builds up their risk, regardless of account size. That makes sense to me. So the question becomes - why have 38 steps to get to the full account size? Why not have 10 steps? Or 5? Why have steps?
In my case, it's somewhat just being the structured person I am and it's somewhat fear based. I have had a plan for everything I have done so far and it's gotten me this far already without blowing up.
What about fear? I could be dealing with the fear of blowing up or the fear of profits beyond my expectations. Both are unknown to me and I tend to fear the unknown. Gaining knowledge/experience can mitigate that fear to an extent however. My motive for having steps is to gain knowledge and experience to wash away the fear as I start risking more and more. But that is impossible to fully do, regardless of how systematic I am and regardless of how slowly I build that risk.
So the solution? Maybe you're suggesting to build to full risk faster and then just be mindful of the fear that will come? Work through the fear and focus on trading my plan (taking trades according to my plan and managing them according to my plan)? Maybe that's what you mean by money management.
I don't have a strict profit taking plan like you have used (full tp at 2R is what you use based on your previous posts right)? Is that what you mean when you say I'm missing some things in my trading? That I should be focusing on increasing my R:R, letting profits ride a bit longer?
Thanks again Ryan for your feedback and the time you gave to reading my journal. You represent WI well