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Online Share Trading

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Trading

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Ninja
Super Contributor
I have been trading for 5 years now and heard all the opinions. Dont be emotional, dont feel happy/sad based on your trades. Well its a crock of sh*t. If I lose 10 grand on the alsi today I will feel like sh*t. Not because it is out of strat or that I did not trade my system. No, because I am passionate about trading and trade with ferociuos tenacity and focus. I dont like losing, my largest stop loss is 15 points on the Dow and 60 points on the alsi. I think we should feel strongly about our losses and celebrate our wins. This passion should drive to improve our system, to achieve our financial goals. Taking no prisoners means you are accountable for all decisions made. So yes, against popular belief I will tell you I love trading, it is a passion of mine that I never tire of. I am still not the trader I need to be and will work tirelessly to achieve this goal and achieve true freedom. To all of you out there on the road with me I encourage you to work harder, demand the very best from yourself and never give up on the goal of becomming a great trader.Be passionate and celebrate your successes, take the pain for your losses and let it restoke the fires of desire for success within you. Never accept mediocrity from yourself, never give up when the market does what it does not what it should and trade as though your life depends on it.....one day it just might. As always, may the charts be with you.
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14 REPLIES 14
Not applicable
Luke, I am your chartist.
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Not applicable
i nearly wipe out my fx acc. begining of the week. i got home from work and added two extra lots to a long dollar position. it went against me and looking at the account balance shrink i got nervous and closed out for a big loss next day i login before i go to work and close my last lot for a small profit. today the dollar is soaring and i am crying.
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Preston
Super Contributor
Ninja, i trade specific strategy on certain shares. This has help me to understand how to take advantage of opportunities , whilst at the same time be patient.
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SimonPB
Valued Contributor
ninja .. with respect your post is a "crock of sh*t" .. a successful tarder measures themselves against what they CAN control .. you have zero control over profit or loss so that can not be your measure .. what you can control is discipline, so that has to be your measure .. hence profit or loss is meaningless ..
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Blik
Super Contributor
Now this reads like an interesting thread...even John may be tempted....LOL
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Ninja
Super Contributor
Wow Simon....a crock of what? Anyways, I cannot control profit but I can control loss and manage profit wisely. My post was really about being passionate, pushing yourself to the achieve the highest level of discipline - to be the trader you want to be, not the trader you are. About never giving up, using your losses to improve your trading and your wins well.....were they gained as part of a good trade or a lucky gamble.I wasn't saying the goal of trading is profit, it certainly isn't it is a by product of trading well, which is the goal of a trader. However I do believe you should celebrate a good trade and feel the pain of a bad trade. I don't believe a trader should remove all emotion from the job, but should use it wisely to push to reach new heights. I guess the post was really about the drive to succeed and allowing oneself to feel good about trading well and feel the pain from poor trading as opposed to the absolute removal of emotion from the trading process as some have proposed (very difficult to achieve), not about controlling profit.
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SimonPB
Valued Contributor
then we largely agree .. I think we can remove emotion and we should strive to .. a person in a hieghtened state of emotion (whatever the emotion) is more likely to do things they shouldn't ..
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Blik
Super Contributor
Zen and the art of Trading Maintenance...maybe
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PaulC
Super Contributor
I always hear "traders are not emotional" I like my emotions. When I sell out at a good profit I feel good and I enjoy that feeling. When I make a loss I generally get annoyed withmyself and work out if there was anything I did wrong and can improve. By all means dont make emotional decisions but dont ignore your emotions totally. They can be most useful
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Ninja
Super Contributor
Paul, my point exactly.....to remove emotion is not only inhuman but potentially damaging. I do also agree with Simon that the type and intensity of emotion needs to be controlled to stop it becomming a major problem in your trading.
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SimonPB
Valued Contributor
Paul, it is not about profit or loss .. it is about discipline .. because you can do everything 100% correct, and make a loss .. then what ?? and we can strive to improve without emotion .. here's the other issue, so my long term in/loss ratio is 56:44 .. if every time in the last 11 years I had a negative feeling from a losing trade, I would be a wreck right now ..
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Ninja
Super Contributor
Simon...agreed....however if you are able to channel that dissapointment into an ongoing drive for success it can be a motivator to always keeping the sword sharp and avoiding complacency. I do agree with your point but I also think it is how each individual uses that emotion. If however emotions are ruling your trading you have a major problem. Profit and loss irrelevant.
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Fredsed
Super Contributor
Get the grip on Emotional Intelligence, love the internet... http://en.wikipedia.org/wiki/Emotional_intelligence
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john_1
Super Contributor
yes agreed, because its honest, it factual, and its giving rather than taking information...well done Nija
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