How do you take the emotion out of trading - especially futures trading. How do u not stress about every little down movement (esp when going long). I understand the concept of a stop loss (although I dont see the option anymore) - but it still is nerve wrecking! Any thoughts....
jd247..even if you attended Simons "Trade to Trade Well" ten times, go to it another ten times or until you get the emotions out of trading.If you trading with emotions, dont trade, rather join Preston in the mornings!
If you clear a position tell yourself "I will always get in again cheaper!" That way - even if you have missed a potential profit or exited lower than your entry price - in theory you never have to accept an actual loss. OF COuRSE - this applies to trading stocks - not illiquid investment counters.
you must let the market take you out at your predermined exits , at the stop loss or profit levels....no matter what the market does in between your stop loss and profit levels, do nothing.....put your hands into gloves with no fingers!
fear is generally one of two things .. both easy to solve fear of being wrong - know what to measure and win/lose is not what you measure .. discipline is .. fear of losing money - make the amount at risk small enough that it doesn;t matter (but then don;t trade like a troll coz the money don't matter) ..
discpline is a must. I also run and swim every day but this is what I found to be my saviour esp in futures. When I xfer into OST / GT247 whatever platform I look at the numbers as credits not money. I treat the futures market like a computer game. Once the money leaves my bank account I ASSUME IT NO LONGER EXISTS. If I am sitting on a 100k paper loss (I am right now) doesnt matter cause as far as Im concerned its not real money. It may seem strange but it works for me. So to answer your Q I guess look at the suggestions from the rest of the folks and then find what works for you. - P