How do you handle losing focus? | Forex Factory

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How do you handle losing focus?

  • #1
  • First Post: Oct 5, 2010 1:57pm Oct 5, 2010 1:57pm
HI.
How do you handle loosing focus?

I mean I recently made a very good profit, and reached a goarl I have had for a long time. After I did that I can`t seem to find the good focus I had earlier.
I usualy skip some part of my analisys because I think I will be right anyway... I am losing focus!!

Any tips to get the mindset I should have?
Tips to get back my focus!
Thanks for all answers!
  • #2
  • Oct 5, 2010 2:21pm Oct 5, 2010 2:21pm
In my experience, taking a break helps a lot. And I'm talking 2-4 weeks, or until you truly feel refreshed and ready to go again.
  • #3
  • Oct 5, 2010 3:05pm Oct 5, 2010 3:05pm
In my experience, when I lose focus there's always a reason, even though sometimes it's not apparent. For example if I've been making losing trades and missing out important trades, of course I get pissed off and put myself under pressure to make good trades, and then that makes me lose my focus.

In your case in my opinion that's normal, you made good profit and reached an important goal so maybe you're putting yourself under pressure to keep having that profit and not to lose. Maybe you're just insecure because you made good profits, I've been through that when I played poker online.
  • #4
  • Oct 5, 2010 3:09pm Oct 5, 2010 3:09pm
Quoting Dopey
In my experience, taking a break helps a lot. And I'm talking 2-4 weeks, or until you truly feel refreshed and ready to go again.
I think that could be smart!
Think I am taking the week of to get my motvation back, have been working so hard to reach a goal and now that I have it seems that my trading have no purpose. Thanks for the tip!
  • #5
  • Edited 3:22pm Oct 5, 2010 3:10pm | Edited 3:22pm
Quoting Jasus
In my experience, when I lose focus there's always a reason, even though sometimes it's not apparent. For example if I've been making losing trades and missing out important trades, of course I get pissed off and put myself under pressure to make good trades, and then that makes me lose my focus.

In your case in my opinion that's normal, you made good profit and reached an important goal so maybe you're putting yourself under pressure to keep having that profit and not to lose. Maybe you're just insecure because you made good profits, I've been...
I was a poker proffesional for one year so i know what you mean Do you still play?
My biggest issue now is that I don`t care about the money, even if I win or lose I don`t care... =/ I think I am going to take a few days off and relax to get my motivation back on track!
Thanks for the answer!
  • #6
  • Oct 5, 2010 3:16pm Oct 5, 2010 3:16pm
Quoting Sunsi

I usualy skip some part of my analisys because I think I will be right anyway...
Sounds like you're getting a little over-confident and careless, complacent even. The market has a habit of bringing people back down to earth when they least expect it, usually it costs money!

Develop the discipline to 'plan the trade and trade the plan'....that way skipping part of your analysis won't be an issue....
  • #7
  • Oct 5, 2010 3:25pm Oct 5, 2010 3:25pm
Quoting pipmutt
Sounds like you're getting a little over-confident and careless, complacent even. The market has a habit of bringing people back down to earth when they least expect it, usually it costs money!

Develop the discipline to 'plan the trade and trade the plan'....that way skipping part of your analysis won't be an issue....
Ya. Luckely I have been lucky I guess that I have made a decent return this week also, but I am not trading to well.

I should realy get more discipline and "plan the trade and trade the plan" as you say!
Thanks for a great tip!
  • #8
  • Oct 5, 2010 3:33pm Oct 5, 2010 3:33pm
Quoting Sunsi

I have been lucky I guess that I have made a decent return this week also, but I am not trading to well.
It's great that you can recognise when you're trading well, and not so well....even a losing trade can have been well traded and executed.

It's also good that you don't care about the money (as long as it's not making you reckless), that's a big psychological hurdle that a lot of people have trouble with!
  • #9
  • Oct 5, 2010 3:34pm Oct 5, 2010 3:34pm
Quoting Sunsi
I was a poker proffesional for one year so i know what you mean Do you still play?
My biggest issue now is that I don`t care about the money, even if I win or lose I don`t care... =/ I think I am going to take a few days off and relax to get my motivation back on track!
Thanks for the answer!
Nice . I don't play anymore to fully dedicate myself to trading, but I might go back to poker and trade only on daily, still trying to figure out...

Yeah and like pipmutt said having a plan or a checklist makes discipline much less important
  • #10
  • Oct 5, 2010 7:24pm Oct 5, 2010 7:24pm
Sunsi,

Focus on the method and nothing else...don't worry about the returns just if your executing the system every time win lose or draw.


-Mike
  • #11
  • Oct 5, 2010 8:16pm Oct 5, 2010 8:16pm
Quoting Sunsi
I usualy skip some part of my analisys because I think I will be right anyway... I am losing focus!!
It sounds like you're starting to break your own trading rules. It helps if you write down your trading strategy into a Trading Plan, complete with entry criteria, TP, and SL levels. Also include your risk management rules.

Once it's written down, don't ignore it. Review it daily. Actually, review it multiple times during the day.

That way, you ingrain your strategy into your mind, which helps you to stay disciplined and stick to it.
  • #12
  • Oct 6, 2010 1:09am Oct 6, 2010 1:09am
Quoting OceanOfPips

It helps if you write down your trading strategy into a Trading Plan, complete with entry criteria, TP, and SL levels. Also include your risk management rules.
If it can all be written down then why not just automate it?
  • #13
  • Oct 6, 2010 9:00am Oct 6, 2010 9:00am
1.Set a new objective, spend some time meditating why you are here in the first place
2.You will focus after your biggest loser, don't let it be that way though
  • #14
  • Oct 7, 2010 7:11am Oct 7, 2010 7:11am
Quoting pipmutt
If it can all be written down then why not just automate it?
If your trading rules are strict enough, with no room for deviation, then you could automate your Trading Plan.

However, it all depends on your trading strategy and the type of trader you are. If you are a discretionary trader, I would assume that your Trading Plan will consist of a trading strategy with rules that allow some judgement, or "discretion" on your part, based on what you see happening in the market at that time.

You can choose to follow your rules exactly, or deviate some or a little from them, solely at your "discretion".

How do you know when to deviate from your own trading rules?

Well, that's what separates good discretionary traders from bad ones. It's a skill that's learned over time and experience.
  • #15
  • Oct 7, 2010 11:12am Oct 7, 2010 11:12am
Quoting OceanOfPips

It helps if you write down your trading strategy into a Trading Plan, complete with entry criteria, TP, and SL levels. Also include your risk management rules.

Once it's written down, don't ignore it.
Quoting OceanOfPips

You can choose to follow your rules exactly, or deviate some or a little from them, solely at your "discretion".
Hmmm....
  • #16
  • Last Post: Oct 7, 2010 2:52pm Oct 7, 2010 2:52pm
Thanks for alot of great advice!
I will take the rest of the week of, and ill be back on monday. Hopefully fully focused
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