A Person Could Be New To Trading When He/She Says…

Posted by jmot in Sunday, August 17th 2008 under: Psychology No Tags

I just made 160 pips last night and decided to call it quits…

I just hope when he “decided to call it quits”, it is because his trading plan requires him to do it and not because he feels like it…If not, he may lose the 160 pips or more soon.

I feel stressful when trading…

Ever heard the phrase “True traders are emotionless when they are trading”?

I am looking for a super strategy…

I am afraid he is going to be disappointed. Successful traders work with strategies that give 40%-60% success rate. It is like flipping a coin…

Which trading course is the best?

What does best mean? That it has a super strategy? Or that it will make us a successful trader overnight?

Sigh…I should have entered here…

This statement has some element of disappointment in it. Successful traders trade emotionlessly, don’t they? I also came to understand that successful traders look beyond hindsight. They don’t lament on what has taken place but anticipates what is going to come. Market has abundant opportunities.

It is very exciting…My heart follow the prices when I see the prices tick up and now…

Getting emotional here again…

Newbie My last 5 trades are all winning trades! This strategy is good!

He could lose his next 10 trades! Anything can happen! 5 trades isn’t enough to tell anything!

Just some weekend ramblings…

Oh, also to share…I catched the sneak preview of the Thai show “4Bia” with my wife. I am scared out of my wits!

(Picture by gezelle)

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4 Comments Already

tony5147 Said,

September 3rd, 2008 @2:27 pm

Hi jmot :

How true!!

You just have to be cautious when you still do not know what you’re doing. You should also not be afraid to take a risk in a trade if you’ve experienced high probability of winning before, but be careful not to over-trade in that particular position.

jmot Said,

September 8th, 2008 @10:32 am

hi tony, indeed, overtrading is one of the dangers as well. in your opinion, how do you know if you are overtrading?

September 8th, 2008 @11:40 am

Hi :

You’re over-trading when you are too overly confident of a position and traded more nos. of contracts that you would normally do. There’s no sure-win in every trade. What’s worst would be after you suffered a few losing trades, your anger overcame you and you started trading recklessly without sticking to your trading plan & traded even more contracts in the hope to recover your earlier losses.

September 9th, 2008 @10:51 pm

hi tony, i agree with what you have mentioned is a sign of overtrading. personally, i feel that overtrading also happens when one put in more lots than he/she should, especially when he/she has reached his/her monthly profit target…don’t you agree?