Friday, April 11, 2008

They want YOU

I have had always problems leaving my stops in the market when the market was moving against me, especially when it was doing so in a slow fashion always letting you think it will come back just in a minute.
The biggest losses I've had in my trading career occurred when I doubled down in such a market.
I know that letting the market take my Stop, if the trade is not working out, is imperative for my future as a trader. Still only after I stopped being calm while in a trade I was able to take a loss without moving the Stop order.
To the outside I was calm in the trade, but inside my emotions where boiling, often resulting in a canceled Stoporder or a doubled down trade.
Now I'm letting these emotions out, I swear at the market, if it goes against me, I talk to myself during the trade. And while I do that, I noticed I'm calm inside, I'm able to follow the market, letting it hit my stop or take my profits at a logical point. I'm taking less and less impulsive trades, because I found a way to let the emotions out instead of letting them boil inside.