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I'd like to have and indicator or whatever it would be that would stop me from making a trade. I eventually make a mistake, and at night when I look back I can see that my rules kept me from taking that trade. However I guess I get conffused or something. I've done this so many times and it's really holding me back.
I'd like to just have something that when I clicked buy or sell, the program let me, or stopped me based on my rules. I realize this seems silly to, well to whom ever, but can it be done? Could something like that even be programed? Thanks
Upupandaway
Can you help answer these questions from other members on NexusFi?
If you want on-screen reminders with motivational text or rule-following text, then yes an indicator can be used to put this on your chart. But I find post-it notes work better.
May I propose something? You can tell me to go eff off.
One (the negative side) - you do not take risk seriously if you are writing this. The market will soon take your money. And also, are you a child that can't help but put your finger in the the fire?
Second (the positive) - you realize it must be stopped, so that's very good. Right now, you just can't help yourself.
I had this exact problem an year ago, what did I do? - I only watched the highest time frame chart to begin with. The smaller chart was only for micromanging the entry. And 2nd (most important) - bottle and preserve the days you disgust yourself, when you do stupid shit. When you get killed, those are the days that you MUST not forget. Most people want to forget the bad days. WRONG - those are the days you you learned the most. Why would you throw away that lesson?
Screw the winning days, no one cares. You learn little from winning, except maybe to inflate your ego as the the market lulls you into thinking that you are a hero. No one is.
My turnarounds came from NEVER EVER forgetting my failures. Because I bottled them, I detailed them in my log, snapshots, my exact feelings at the that time, Write down your disgust, express it and record it for posterity.
The survivors are the one who never forget the bad days. Those survivors are statistically also the millionaries
I rarely post here in these because 90% of people look at magic indicators and systems and theories and what not. It's disheartening. The only thing that matters to me was understanding risk, and that meant being ready for the market doing the unthinkable (like it ran away today). But if you constantly think about risk (like an actuarian) you will cease being surprised and that is step one to success. No indicator or system can make you do that. You already have the most powerful weapon in the world. Your brain and your choice to click it or not click it.
Well yah I agree with you all. I should be able to stop doing this. And on some days I can. Then eventually I'll screw it up. Guess I'll have to start keeping a written journal. Thanks for the responses