Major Realization!


#1

In all my experience trading and blowing up accounts, I realized just this morning that perhaps part of my failures can be attributed to!..IMPATIENCE, and ANXIETY!!!

It’s not so much greed or fear. It’s forcing trades and not even knowing I’m forcing trades! I’ve been trying to “speed up” the reaching of my goal, which is trading for a living. But to do that, I need so much in my account to: A) survive the down turns and yet, B) take withdrawals on a regular basis to live on and keep my account the right size to continue the activity.

Unfortunately, I’ve never ever had the wherewithal to START my account at the proper size to HAVE the goal. It’s hard to say, if knowing this now would have been the key to better success, but this realization certainly gave me a feeling of relaxation when I stumbled into it this morning.

I can see where traders are a “unique breed of cat”. This “blind spot” in trading is just another pitfall that keeps the majority from being successful at this industry, for which I have a passion.

Again, thanks Darrell for this forum, your passion, and dedication. You are truly a man to be admired.


#2

You are absolutely right. Managing emotions and trading psychology is extremely important and often over looked. Finding a good trading system is relatively easy. The problem is “executing” the trade system and money management plan without letting your emotions like fear and greed get in the way.

That’s why 2 traders can trade the exact same system and one person rakes in the bucks while the other blows his account. I battle with my trading psychology constantly. I can’t count the number of times where I knew exactly what I SHOULD be doing in a trade and then I go and do the opposite!. Lol


#3

The biggest key is risk management. If you’re risking to much you will always make bad decisions. Even when it “works” it was a bad decision as it led to repeated bad risky behavior. This is why the first s of S12 starts with Sanity it reigns supreme.