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Trading psychology - GREED - A trader's malady

  • #41
  • Feb 8, 2011 4:17am Feb 8, 2011 4:17am
Quoting highlander2

when i have a string of winners, this is NOT how i feel. I become increasingly of the opinion that the next trade will be a loser, simply because i know i cannot keep winning forever. yet i also know that recent trades have no bearing on the outcome of this next trade, every trade is unique, and has a unique outcome.
Hi Highlander i would share my opinion. If you feel nervous when you have a string of winners, just follow your guts, decrease your trading positions, when you'll feel more comfortable increase it! this is psychology, do what you feel, if you are not stressed while trading you'll be already one step beyond others...

in my opinion your challenge for this year shouldn't be to increase your position size while winning, but you should overcome your greed, when you trade with a smaller % you probably feel like: "oh if i would have risked more now my equity would be 2.5% up, but since i'm afraid about losing, i'm just 0,5% up" that is the error!! you are 0,5% up how cares if you could make 2% more?

It often happens to me: "aaah why did i placed that SL to BE? if i would have risked some more, now i would have made huge profits..." when you'll start thinking:"i placed that SL to BE because that trade could turn into a loser, tomorrow is another day, i still have plenty of occasions to make that huge profit, be patience, and not greedy..." you'll be a better trader!
  • #42
  • Feb 8, 2011 4:25am Feb 8, 2011 4:25am
Quoting Beman
Hi Highlander i would share my opinion. If you feel nervous when you have a string of winners, just follow your guts, decrease your trading positions, when you'll feel more comfortable increase it! this is psychology, do what you feel, if you are not stressed while trading you'll be already one step beyond others...

in my opinion your challenge for this year shouldn't be to increase your position size while winning, but you should overcome your greed, when you trade with a smaller % you probably feel like: "[b]oh if i would have risked more...
thats what im thinking day by day : P
Hero calls followed by margin calls...
  • #43
  • Feb 8, 2011 4:27am Feb 8, 2011 4:27am
i tested over 2000 indcators,visited evry system on ff,and u can trust me in this,ive blown 3 deposits,(but only in 1 i used indis)other just my own stupidity and me being uninformative about how news and big banks effect the market
i knew that markets were manipulated,thats why i got interested in trading,looks like easy profit
but without learning from coach carter u have no chance of survicval left alone in the african safari with hungry lions,who constantly need to feed themselves
when i say that none of them worked
why>?
because they suck balls
((##sorry for my language,ill delete it if anyone is getting disturbed by it ,lol##))

lets go back
well lets look at trading
its traded by people,on their means of demand on which side they think is better
like evrything else people want trendy stuff so they dont fall behind
the big investment banks and central are the moving force of the trend ,their words are final,they are the deciders and they decide
euro feels good,buy
euro feels bad,sell

as a good example of what im talking about ill provide u my statement on demo,i want to practise one more month ,till im 18,then ill have my own account,no more my mums,heheh the good old days of trying to beat the house

if u dont know why the hell prices are moving in the way they are ,then ur just gambling
if u want to entertain urself loose money in a much better place,
for examples,on girls,in clubs,in casinos,go to las vegas have some fun there,or buy a nice car,or wateva thats entertaining,just dont come to trading to entertain urself

>>see the -6 loss,that happens when u go out of the rules
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  • #44
  • Feb 8, 2011 4:36am Feb 8, 2011 4:36am
heres some good entertainment of wisdom


btw,i dont trade to make money,i trade not to loose,
just remember the battle of of greece when xerxes with his 200k army invaded greece and still lost against the athenians spartans and the lot
he lost a massive number of militans,then greeks later came to persia and destroyed it
be a dummasss agressor and see what happens
(officialy majority of history is biased,so i dont actually know how true all these stories are,but the hell with it,good example)

http://i.imgur.com/sNCyn.jpg
Attached Images
  • #45
  • Feb 8, 2011 4:39am Feb 8, 2011 4:39am
Quoting dragan53
i tested over 2000 indcators,visited evry system on ff,and u can trust me in this,ive blown 3 deposits,(but only in 1 i used indis)other just my own stupidity and me being uninformative about how news and big banks effect the market
i knew that markets were manipulated,thats why i got interested in trading,looks like easy profit
but without learning from coach carter u have no chance of survicval left alone in the african safari with hungry lions,who constantly need to feed themselves
when i say that none of them worked
why>?
because they suck...
wise words for a 17-year old.... keep up your work !

wish u good luck and a lot of succes in trading dragan !

Kindest regards
Phanti
Hero calls followed by margin calls...
  • #46
  • Feb 8, 2011 4:43am Feb 8, 2011 4:43am
hey phanti whats with this crap?
http://www.aelliot.org/?page_id=506

gold ea,the hell lol,
this probably only shows the profitable trades it takes and keeps bad ones open,to hide losses in the backtest
  • #47
  • Feb 8, 2011 4:44am Feb 8, 2011 4:44am
Quoting PhAnTi'
wise words for a 17-year old.... keep up your work !

wish u good luck and a lot of succes in trading dragan !

Kindest regards
Phanti
thanks man u2
all the best,and keep on going>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
  • #48
  • Feb 8, 2011 4:47am Feb 8, 2011 4:47am
Quoting dragan53
hey phanti whats with this crap?
http://www.aelliot.org/?page_id=506

gold ea,the hell lol,
this probably only shows the profitable trades it takes and keeps bad ones open,to hide losses in the backtest
nah this isnt a gold thread here, pm me next time....

i use it.....i make consistently profits with it.... (just playing 0.01 lots cause i dont have more funds at the moment...)

i would'nt advertise for s.th which doesnt work or which is being offered by scammers etc...


Kindest regards
PhanTi
Hero calls followed by margin calls...
  • #49
  • Feb 8, 2011 4:49am Feb 8, 2011 4:49am
Quoting dragan53
thanks man u2
all the best,and keep on going>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
i will,hope to see u time by time here


ph.
Hero calls followed by margin calls...
  • #50
  • Feb 8, 2011 4:51am Feb 8, 2011 4:51am
[/quote]

- shutting down the computer after entering the trade. Don't look, don't see, don't interfere.
[/quote]

mate u can escape to the forest if u want,but ur still not gonna escape from urself
if u make good life decisions ull make good tradign decisions,ur trading people anyway
same shit,but in this ur staring at a screen
  • #51
  • Feb 8, 2011 5:00am Feb 8, 2011 5:00am
Quoting PhAnTi'
nah this isnt a gold thread here, pm me next time....

i use it.....i make consistently profits with it.... (just playing 0.01 lots cause i dont have more funds at the moment...)

i would'nt advertise for s.th which doesnt work or which is being offered by scammers etc...


Kindest regards
PhanTi
i know it isnt a gold threat,but ur adveertising a ea thats shows that it makes consistent profits,all the time,but we all know thats not true
its obvious its a scam,not a really profitable ea,if it was it would be worth 100k and would be sold to major investments bank for them to trade

and plus the ea marketing site design,hehe,i see these type of bullshit money tree wonders all the time,just praying on emotionally weak folks
  • #52
  • Feb 8, 2011 5:19am Feb 8, 2011 5:19am
Quoting dragan53
i know it isnt a gold threat,but ur adveertising a ea thats shows that it makes consistent profits,all the time,but we all know thats not true
its obvious its a scam,not a really profitable ea,if it was it would be worth 100k and would be sold to major investments bank for them to trade

and plus the ea marketing site design,hehe,i see these type of bullshit money tree wonders all the time,just praying on emotionally weak folks
true. Thas the thing with all ''profitable'' EAs.....anyway i use it and i make some additional wins with it.... (got it for free btw )

Ph.
Hero calls followed by margin calls...
  • #53
  • Feb 8, 2011 5:33am Feb 8, 2011 5:33am
I didn't notice that until you pointed it out Dragan.

I hope it doesn't interfere with what could be a very helpful thread.

It might be interesting to try to understand the mindset of a seasoned trader who would use a bot.

Okay, perhaps if a trader found a bot which trades in his own exact style, he could use it as an extension of himself.

Makes me wonder what I would do if I automated my own trading style.
I imagine I'd set it up on micro-lots and compete with it manually, just for fun.
I always thought that there was nothing on earth that made me afraid. Not spiders, snakes, death, any of that. That was until I was the passenger in a car with a young man I didn't know well, but knew well enough to know that he wanted to show off his skills to me.
This scared the bejaysus out of me.
Now, I don't want to be afraid of anything in this world, so should I learn to hand control of my fate over to a variable I don't know and trust, or should I always do the driving?
  • #54
  • Feb 8, 2011 5:38am Feb 8, 2011 5:38am
Quoting Ifmyante
I didn't notice that until you pointed it out Dragan.

I hope it doesn't interfere with what could be a very helpful thread.

It might be interesting to try to understand the mindset of a seasoned trader who would use a bot.

Okay, perhaps if a trader found a bot which trades in his own exact style, he could use it as an extension of himself.

Makes me wonder what I would do if I automated my own trading style.
I imagine I'd set it up on micro-lots and compete with it manually, just for fun.
I always thought that there was nothing on earth...
My blog and this forum/thread are 2 things and the ea doesnt have anything to do with my mindset,my MM or my trading style....keep it byside.

i just run it with another small account and play the very small 0.01 lots for some additional bucks a day.....

Over n out.

Back to topic.


Ph.
Hero calls followed by margin calls...
  • #55
  • Feb 8, 2011 6:09am Feb 8, 2011 6:09am
hey immyante

theres an interesting article about the start of ea's
the quants make ea's based on human emotion,price movements,news,patterns,volume and all that type of stuff

and it took them years to just keep updating it,and it was many guys finishing off the ea,and now the ea is running successfully prob with some investment bank like goldman sachs making millions evry year
the ea's these days are even created to recognise other ea's in the market
thats how advanced trading has become
it is a very difficult process,and not a thing a couple of ff coders could make within a year ,but maybe 5 years time,keep updating all the time
thats how the investment banks manage their algos
they have the ea on the computer and the algo guys next to it,always updating something
  • #56
  • Feb 8, 2011 6:17am Feb 8, 2011 6:17am
Quoting PhAnTi'
My blog and this forum/thread are 2 things and the ea doesnt have anything to do with my mindset,my MM or my trading style....keep it byside.

i just run it with another small account and play the very small 0.01 lots for some additional bucks a day.....

Over n out.

Back to topic.


Ph.


I wasn't poking you, honest.

I was just trying to get back onto the topic of fear and lack of control.

I'm on a run of winners and I want to fully understand my motivation to control that run.
Over the holiday I studied and studied the methods I use. With alot of fine tuning and a truckload of help from a group of amazing mentors, there are now a small number of high probability setups that I am able to spot and jump on without hesitation.

I have taken less trades this year than I would have taken in a week last year, but have made more pips from them than in the whole of last year!

Now I'd like to know if my will to make pips is stronger than my fear of losing them.
No opportunity to trade has come up this week, but when it does I'm either going to jump right in, or hesitate.
If you don't mind, I'll post my action here
  • #57
  • Feb 8, 2011 6:19am Feb 8, 2011 6:19am
Quoting Ifmyante


I wasn't poking you, honest.

I was just trying to get back onto the topic of fear and lack of control.

I'm on a run of winners and I want to fully understand my motivation to control that run.
Over the holiday I studied and studied the methods I use. With alot of fine tuning and a truckload of help from a group of amazing mentors, there are now a small number of high probability setups that I am able to spot and jump on without hesitation.

I have taken less trades this year than I would have taken in a week last year, but...

volume spread analysis on m1
try it
theres no reality like it
  • #58
  • Feb 8, 2011 6:24am Feb 8, 2011 6:24am
Quoting dragan53
volume spread analysis on m1
try it
theres no reality like it
I see you like your scalping.

Live fast, die young, leave a great set of pictures!

If you can make it work and you enjoy it, that's great for you.
I'm happy to multiply your TF by 1440, and use one indicator for divergence.
We must each find our own way
  • #59
  • Feb 8, 2011 6:25am Feb 8, 2011 6:25am
Quoting Ifmyante


I wasn't poking you, honest.

I was just trying to get back onto the topic of fear and lack of control.

I'm on a run of winners and I want to fully understand my motivation to control that run.
Over the holiday I studied and studied the methods I use. With alot of fine tuning and a truckload of help from a group of amazing mentors, there are now a small number of high probability setups that I am able to spot and jump on without hesitation.

I have taken less trades this year than I would have taken in a week last year, but...
Looking forward to it !

Quote
I have taken less trades this year than I would have taken in a week last year, but have made more pips from them than in the whole of last year!

Congratulations bro !

Seems like patience is another very important virtue of trading.

keep the good work up !

Kindest regards
ph.
Hero calls followed by margin calls...
  • #60
  • Feb 8, 2011 6:33am Feb 8, 2011 6:33am
Quoting Ifmyante
I see you like your scalping.

Live fast, die young, leave a great set of pictures!

If you can make it work and you enjoy it, that's great for you.
I'm happy to multiply your TF by 1440, and use one indicator for divergence.
We must each find our own way
lol lets not get carried awway
well trade what eva suits ur personality
not evryone is the same

i trade 1m because i see the big guns moving and preparing to attack by absorbing evry sale made,now thats a bull till it blows up and comes back to equilibrium
forex live gives me great info on whos buying and selling it,theres no other site like them
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