NexusFi: Find Your Edge


Home Menu

 





Other Mike's trading psychology journal


Discussion in Psychology and Money Management

Updated
    1. trending_up 1,495 views
    2. thumb_up 0 thanks given
    3. group 1 followers
    1. forum 1 posts
    2. attach_file 0 attachments




 
Search this Thread
  #1 (permalink)
 ekim 
Providence, Rhode Island
 
Experience: Intermediate
Platform: TradeStation execution, some Thinkorswim charting
Trading: CL
Posts: 55 since Apr 2014
Thanks Given: 137
Thanks Received: 97

While I have a trade journal here on NexusFi (formerly BMT), I want to keep a space for my more wandering thoughts on trading psychology to occasionally find refuge. I really believe that it's not the indicators, or specific setups that make money, but doing one's best to keep a sound mind. I wanted this thread in the public forum, so it can be accessible and shared by more folks.

I invite any and all to participate, reply, or just read. I may not reply to posts here as much as I might in my journal, and might go awhile before posting again, but it'll be there as a nice repository for myself to read back over in the future.

So, first journal thoughts...

I saw some tickets for a holiday raffle on someone's table today. It was printed on the tickets that you have to physically be present at the raffle to win anything, and my mind quickly flashed back to when I was a kid. I, just by chance, literally never won anything in all the years of elementary school raffles, games of chance where prizes were concerned, etc. I remember saying once as a kid that I just don't ever get lucky, that I never win anything. I remember always kind of giving up mentally before raffles or games of chance. After a point, I just stopped entering them, they seemed pointless, since I "knew" that I wouldn't win.

Is trading pure luck? Is it pure skill? No, is the singular answer to both. But there's certainly luck involved, and I wonder, do we still feel that we don't deserve to "win" sometimes? How much does that hold us back? If we have a bad trading day, do we assume that's just how it is, everything's impossible, too many algos, just can't do it? I never won the raffles, I can't possibly "win" at trading, the line of thinking might go.

An example from my other journal, sometimes I'll see I'm up, say 18, ticks, and think, hey, that's not too bad. And indeed it's not, but am I normalizing expected trading profits to rates of pay for regular jobs, where $200 a day may be a respectable salary? Why don't I think I deserve 50, maybe 75 ticks in trading? Do I feel that only other people get the "luck", whatever that means?


Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Datafeed for Atas
Platforms and Indicators
No book, only a stair: journaling fills where price move …
Cryptocurrency
EA
Platforms and Indicators
My Rant with AMP Futures
Trading Reviews and Vendors
requesting .nrd replay files from 2026 spy and qqq
The Elite Circle
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Mes vs MNQ
6 thanks
NexusFi site changelog and issues/problem reporting
5 thanks
BERN ALGOS algo trading journal
3 thanks
TopStep Trader disappointment
2 thanks
Johnnys Journal
2 thanks




Last Updated on December 11, 2014


© 2026 NexusFi®, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Downloads - Top
no new posts