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How To Overcome TILT (anger) When Trading ~ The Mental Game of Trading
I've been struggling with my Trading psychology. So much so I can't even make $1000 without blowing the prop firm tests where prior I passed 2 $9000 tests with Topstep.
So I got this book The Mental Game of Trading by Jared Tendler.
I've mapped my behavior and it is full on Tilt as he calls it - anger.
But it has almost become a bad habit. I cannot seem to catch myself when I'm in the heat of the moment and stop myself and I continue to trade until I blow the test again and again and again.
Does anyone have any suggestions as to how they overcame anger when trading?
Is there an app that can buzz you etc?
If I need a Trading buddy would anyone be open to that as well?
If you are asking how do you start a journal on nexusfi.com, you just start a new thread in the Trading Journals section and you're off to the races: https://nexusfi.com/trading-journals/
You might look at some of the existing journals that people already have for some pointers, but essentially, you can just show your trades (chart screenshots help) and whatever you want to say about what you did, or didn't do. You can use it to become more clear in your own mind about what happened and what you did (and why), and also, these journals always get a lot of attention from other traders, who generally are willing to help someone out when they see an opportunity. And everyone has been in this boat at one time or another.
The thing is for you to be open and honest about your trading and your actions and especially the things that you need to improve on.
By the way, "tilt" originated as a gambling term, when the player loses rational control:
"Tilt is a poker term for a state of mental or emotional confusion or frustration in which a player adopts a suboptimal strategy, usually resulting in the player becoming overly aggressive. Tilting is closely associated with another poker term, 'steam'." (https://en.wikipedia.org/wiki/Tilt_(poker) )
It is absolutely a common issue among traders too, so bringing it up and discussing it -- and the general issues of self-control that we all have -- will find a lot of people who have dealt with it, or are dealing with it now.
Good luck.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
Naturally, show me 10 traders and I'll show you 10 different reasons for tilt. And immediate conclusion - probably 10 different solutions.
You need to figure out WHY you tilt and then figure out how to overcome that specific, personal issue - be it by yourself, with a friend, through a book that resonates with you, or with outside help.
There are many possible reasons, most are generally related to the trader's personal experiences, history and life (and many even subconscious) - and I couldn't possibly assess your specific issue without more detail.
I will however suggest you ask yourself a few hard, look-in-the-mirror questions that might be a first step. try to be relaxed when you address these, open and curious to yourself:
- What's your self talk BEFORE you tilt and AFTER you tilt?
- You refer to ANGER. I'm not sure that's the case with you, or just something you read in a generic book, but let's assume it is relevant for you. Who or what are you angry with?
- When did this tilting start? (you mention winning in the past, and now tilting often) Could the reason lie there?
These are not easy issues to address alone, and answers may even be subconscious (=you aren't aware of them), but they could be the key to start working on this.
Another note: do you REALLY want solutions based on apps/buddies (except maybe as a short-term tourniquet) or do you want to be a self-sufficient, responsible trader that doesn't tilt? At the end of the day, these things rarely disappear on their own, and for most people are very difficult to solve alone - but they must be tackled with full honesty and responsibility if you wish to be successful.
This seems absolutely on the money. The only other thing I wonder whether you can address is: Would it be a normal reaction to "go on tilt" (etc.) if you had no edge in your trading? I mean, wouldn't it be normal for one's emotions to give negative feedback in that case? That is if you were to continually persevere down a road with negative expectancy and double down in the face of mounting losses. Wouldn't it be absolutely normal and healthy, in that case, to have negative emotional reactions? Leaving aside the subconscious. (More a general question than one related to this post per se).
You can't outsource confidence in trading decisions
Everyone gets mad. As long as we're alive we will get mad. And as long as you trade, trading will make you mad from time to time. The good thing is that you get to choose how you respond to the anger.
Anger isn't the only emotion that can cause trader problems. Greed and fear will also cause alot of problems too. Accept that you will feel those emotions, feel them, and decide how you want to react to them. Your natural reactions to these emotions are not conducive to making money in the markets. But you can choose to respong in a more productive way. It's simple but not easy. It does get easier with practice though...in my experience.
I was resistant to meditation when it was first presented to me. HOWEVER, the practice of meditation does allow you an opportunity to train effective emotional management. You can train how to deal with your emotions the same way an athlete does drills to train skills that they need to perform. And as a discretionary trader, you NEED these mindfulness and awareness skills to be successful. Google mindfulness meditation if you are interested. Do some guided meditations using a cell phone app, there are all kinds of resources. This will give you a proactive approach to building habits that are supportive of what you are trying to do. Happy trails!
But I agree it is also based on a very personal and case-by-case basis. When I look in the mirror and ask the hard question, I see both superficial in addition to more deeper and pressing reasons that causes me to Tilt.
I guess I personally am looking for a more superficial solution I guess. Perhaps that's naive and doesn't exist?
Like when you shock collar train a dog.
Perhaps I'll buy myself a shock collar.haha and buzz myself to bring me back to focus and keep it in perspective. And if I still misbehave then I'll give myself the big shock. Haha
The problem, in trading, always is money and the belief behind it. Most of the time, people think they are trading an strategy, but this is not true. Most of the time they trade money. The majority of traders know the right thinking mind behind losing or winning money. You can see a lot of trading journals that are focused on money metrics. Is rare to see a psychological trading journal. Why? Traders "always" trade money, results...I mean, you can learn from losses, you need to be calm in winners, you have to trade your plan...but they do not believe it. Few people will think to train their minds to change the "normal" beliefs about money and, of course, they are out of that game. You are angry, simply, because your beliefs about money are not in line with what is your job. You know a lot of things about the right mindset's money, but you don't believe it. Prop firm accounts are not money, but you believe they are. You have your beliefs changed. Take a look at these beliefs and let me know which of them you have:
Discipline: Stick to your plan.
Risk Management: Preserve your capital.
Continuous Learning: Keep improving your skills.
Patience: Wait for the right opportunities.
Adaptability: Adjust to changing markets.
Objectivity: Make decisions based on data.
Acceptance of Losses: Learn from mistakes.
Confidence without Overconfidence: Believe in yourself, but stay humble.
OK I think I have: 2,3,5,6, I think 7. I think I'm pretty humble but I don't know.lol I'm willing to accept I need to control my emotions and get myself under control. I recognize I HATE losing money. I can't stand it. So I have modified the way I trade to compensate for this. It helps me to stay calm and if I break even and don't make money, fine.
And I can be impatient. I know.
I think my environment makes me impatient and I cannot change it right now. So the other day I realized that by trying to rush these tests I am much further behind than if I paced myself but I'm struggling with a temperamental and unreliable platform which puts me over the edge.
