Dislikedit would take too much time (and a psychologist) to write them all but here are a few:
- overleveraging - i tend to correct a bad trade with 2 trades. that's loss denial. i have to accept my losses as investments. we can't get every trade right. this usually happens to me after a string of great trades. then i get a loss and i start to f#ck up from there. i get overconfident and don't accept a single losing day. and then i get into a spiral that i have a huge problem stopping. (my father taught me to be perfectionist: if i had 99% on an exam he...Ignored
- overleveraging - i tend to correct a bad trade with 2 trades. that's loss denial. i have to accept my losses as investments. we can't get every trade right. this usually happens to me after a string of great trades. then i get a loss and i start to f#ck up from there. i get overconfident and don't accept a single losing day. and then i get into a spiral that i have a huge problem stopping. (my father taught me to be perfectionist: if i had 99% on an exam he would ask me how come i managed to failed that detail. i am always looking for reasons of why i behave/act/trade like this or that).
You have explained the reason. You are halfway there. All you need to do is FOCUS. Try writing out your trade plan. Then you will see why not to get your mind into a negative state. Decide on an entry point and why and an exit point. If you are upset about anything DO NOT TAKE YOUR FRUSTRATIONS out on the Market. The market does not care.
- not believing my trading - (i guess this one really comes with experience). even if i had a string of good trades when a couple of bad ones come i question everything i am doing. so i look for a even better method/system/strategy. since i have some time with this i always can look for and find another method/system/strategy. jumping from system to system is a know mistake. that i keep doing... hope time will tell me that there is no perfect system and i should quit looking for one.
EXACTLY !!! You are the system. Stick to yourself and build a good trading method. Once you build the foundation stick with it and keep building.
- maybe the worst problem (that i am dealing and coping with right now) is that it's difficult for me to be out of the market. i can always find reasons to be in the market. patience is a virtue, one i don't possess, still.
DISCIPLINE and if you cannot do this than your FEAR and GREED will defeat you. Your Ego also needs to be worked on as well. It is good to lose since it put balance there for you. As long as you let your profits run and cut your losses and win more than lose then you win.
If you do not have the ability to do this than STOP trading until you do or save your money.
Failing all that with Respect Join Gambler's Anonomous !!!
- picking tops and bottoms - i never traded breakouts. now i do. the account starts to show it. as for reversals they are good entry points too as long as i wait for their confirmation. Fontu's TD counts have helped to wait.
- last important detail - Getting a life!- i needed to focus on my life. i am doing that now. i was a little obsessed with being successful at trading. seemed like nothing else mattered. being taken care of too. results showing.
Good the last two points you seem to have a handle on. What you need to work on is balance.
very sorry for the long post. hope it helps someone.
MAYBE IT WILL HELP YOU ?
DISCIPLINE Dear Sir
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but thanks for the reply.