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Every trader has all of the same "I's" that you do. The trick is to have a
system that you have faith in, and to physically write down a scenario for the
next day. Review the scenario and have each of the "I's" approve of the plan.
The scenario works for day trading as well as for long term trades. Once each
of the "'I's" has approved of the plan you will have an easier time dealing
with what makes a trade work.
You don't think about breathing, about putting one foot in front of the other
when you walk, or any of the other everyday things you do because you are
trained and do them subconsciously. The same as the reactions of an athlete
when participating in that activity. In trading you "see your signal, recognize
it, fell good about it, and then act upon it". Once the "What if ?" enters any
phase of this you are dead. That is why the scenario, the plan, for the next
day. It helps with the "What if ?".
Have a good holiday, Ira.
petena9090@xxxxxxxxxxxxxx wrote:
> The argument is not silly. There is/are more than 2 of me. (OK, call the
> whitecoats at once!)
>
> There is the "I" that plans the trade.
>
> There is the "I" that executes the trade, the "I" that prevents pulling the
> trigger,
> the "I" that injects doubts once the trade is on.
>
> There is the "I" that watches the trade go right and forces an early exit
> rather than
> letting the profits run.
>
> There is the "I" that hits the 'chicken-switch' just before a trade swings
> from a slight
> drop to a major profitable reversal.
>
> There is more than one "me". Who can monitor or watch over this group and
> win out????
>
> -----Original Message-----
> From: Peter G <ktata@xxxxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Date: Thursday, April 01, 1999 2:37 PM
> Subject: Re: Trading and losing.
>
> >At 02:15 PM 4/1/99 -0800, Ira wrote:
> >>It is funny to listen to this win lose argument.
> >
> >I've always found that my biggest enemy was always the second-guessing
> >"Me." The one that reanalyzed something I'd already taken a position in.
> >The one filled with doubt. I will always return a lost wallet with the cash
> >intact. That doesn't stop me from taking a profit in futures. And when I
> >take a loss, the 'bad' losses are usually because of my own lack of
> >discipline ( as opposed to a 'good' loss, where you stuck to your guns, but
> >you got stopped out.)
> >
> >PG
> >
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