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This won't help you short term, but if you keep doing it, it will change
your behavior long term: chart your equity every day. Use Excel and come up
with a simple way to do it, but do it every day. In my case, I will get
into periods where I will overtrade and lose money. Each week I print out
my equity curve and tape it to the wall directly behind my monitor so I
can't miss it. When I get into one of those periods, it is visually obvious
by looking at the downtrending green curve and the series of red bars below
the $0 line. I can quickly see what damage I am doing to my trading capital
and either stop and think about what I am doing wrong or just take a break
from trading. When I have big draw downs, I write really mean comments to
myself on the chart when I put it up like "YOU FREAKING MORON!!! You did
not have to do this!!!" and circle the area of the draw down. Whenever I
start trading badly, I look up and there is the chart staring me in the face
and I say to myself, "I'm headed back there. Time to try something
different." I works for me.
Kent
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