evolved trader

Cool Simon. I know exactly what you mean. (where's the clown shoes?) ZDO, haha, great question. Increased awarenes, but I'd have to lean towards to second statement.

Hi Simon, What a great thread! I've been involved in the personal and professional arena now for a few years. I've also been trading now for a few years. I can honestly say (from my personal perspective) trading is by far the most advanced personal growth tool on the planet. I believe our results from trading are simply a mirror composed of our true core beliefs, habits, and perceptions. This is why I believe altering the social conditioning has a dramatic improvement on our overall success as a trader. (Which go hand in hand with our edge). If you're not growing you're...... what? Dying. Nothing stays the same, and neither should we as traders. We must constantly be evolving by upgrading out skill-sets and mind-sets. I do want to challenge you on one thing Simon. You mentioned Fear and Greed. Although I understand what you're implying, I believe everything in this world in only driven by 2 factors....... Either Love or lack of love. Cheers, Ryan

Interesting question ZDO. Thanks for sharing the TED video. Great information. Ryan

Hey BrownsFan Great reply as always. Good to know I'm not alone. I'm very similar in the sense I know at a whim what signals my edge is giving me, however my attention may only be about 60% at the time. Accountability is huge, and something I'll do starting tonight. Thanks for the reminder. I have a friend I can use over email. I appreciate the invite! I definetly know me "sweet spots". So I'll work my "breaks" around those times. Proably go for a quick 5 minute walk down the street. I find getting away from the screen and into some form of nature refreshing... Thanks for the feedback! -Ryan

Eiger I really like that process. It's simple. I'm going to apply that tomorrow. I'll set time my breaks for every 60-90 minutes depending on the market conditions. Great advice, this will help me break the day up a bit. Wes Another great idea. Something I intend on doing in the near future. Great point about the Hedge Funds. I've learned working from home alone takes disipline. It's really a matter of me treating trading as a business. If I miss an opportunity one day, its usually becasue was distracted by something else on the net.

I was trading this morning and through an experience a question arose. For all you day traders out there how long of a time frame are you able to trade while still feeling focused and centered? Especially when you’re waiting for a setup to form that’s taking a little longer than expected. Have you ever found yourself being sidetrack doing other tasks on the computer? Emailing, or reading other websites (Bloomberg). I usually trade live for about 5 hours in the morning. However I’ve found my level of focus and intensity fades in and out while waiting in between trades to setup. This will sometime cause me to “miss” a move because I wasn’t mentally in the space to take the trade. Does anyone have some tips to stay in tune with the market while things are a bit slower? What approaches do you all take? Do you only focus on trading for the 4-5 hours straight and eliminating any other tasks? Maybe you get away from the screen for a few minutes to keep fresh? Any suggestion our thoughts are greatly appreciated. -Ryan

SwingTradin Jay I’m in a great place now mentally for trading. I’ve come to realize the monetary gains are not what defines my trading success. ZDO Havent, but I will read it. Thanks for ALL the suggestions! I just recently (last week) dropped focusing on the monetary goals. Wouldnt you know, I’m seeing the market in correlation with my system clearer than ever in real-time. Always love your posts. And of Course appreciate your help. I love the idea behind having goals about moving us into optimal state and applying the full development and application of my edge. I’m realizing more and more the importance of the big picture, and not weekly, monthly money goals. Minoo Thanks for the inspiration and a great post reply. That let me to another question I have about focus and environments. I’ll post a new thread for that. Appreciate the break down. Traderspsyches Thanks for the reply. And I have to say, as I go deeper into my trading, the more simplistic properly trading my edge seems to be. At least on a conscious level..... I have to agree with Browns Fan...I love the term “Psychological capital” Wjrusnak I’ve dropped the monetary goals with the exception of a yearly / quartly. Even at that I’ve stopped focusing on that and give my full attention to maximizing the performance of my edge. Thanks for the suggestions! WalterW Point taken. Wes Its funny, as I read your post I could relate on many levels. Like I’ve said, I only focusing on trading the edge now.....with proper application. Thanks everyone for the thoughts and insights. Always appreciated!

Hey guys and gals. Thanks everyone for the comments. I have been lucky enough to have someone approach me to help stay focused on the end result. I'm looking forward to the interaction. Of course it wouldnt have been possible without this board. Big thanks to SoulTrader. OAC, thanks a ton. I've downloaded it and I'll read it over the week. Thanks again everyone, Ryan

Hi everyone As some of you may know from reading my posts I have been having some challenges executing my trades properly following my edge. Since the beginning of December I decided to invest some time into paper trading and mentally trading as well. I figured it was best to get re-focused again before risking anymore capital. Hypothetically I’ve been doing excellent. The challenge is that I haven’t been able to simulate the same emotional feelings paper trading as when actually trading live. So of course my results are outstanding as there is no distorted view of my edge, or any fear or greed gripping my actions. I had an interesting experience the other day at the Casino that basically pinpointed where my block is. I rarely go to the casino, maybe twice a year. My girlfriend really wanted to go so I said I’d tag along. I sat down at a slot machine next to here and slipped in $20. After about a couple minutes of playing the machine I could feel the exact same feeling from trading being released. My heart rate started to increase, my palms started to sweat and I could actually feel small beads of sweat slowing dripping down from my armpits! (Sorry for being descriptive!). Here I was, already consciously accepted the risk before I put in ONLY $20 and I’m realising all kinds of fear based chemicals into my body. Its the exact same emotional feelings I’ve been having during trading the past few months. When I first started trading (5 years ago) I was never like this. It’s definitely not a healthy way to trade and I’m now thinking I must be viewing the markets as gambling and not strategic trading. I can think of one negative major emotional experience that happened to me where I lost a large chunk of my capital and it basically wiped me out (this was about 2 years ago now). And an additional negative emotional experience about six months 4 months ago. Now that I feel I know where the block is I wondered if anyone would suggest and mental techniques. Has anyone done NLP? Or EFT? Or even possibly personal hypnosis. It seems very clear that I have a neurological block that’s creating all these feelings. I ‘m just looking forward to trading again like when I was focused, calm, and relaxed! Thanks everyone. Ryan:)

The Hunter Great suggestions and very inspiring to hear a trader involved in the game 10+ years. Congrats. I like your ideas of not looking at your account balance until Friday and only focusing one day at a time. Like I said, its very inspiring to read your post. Brownsfan Great questions to ask, thanks for the advice and insights. DarthTrader Exactly!

Brownsfan Thanks for the great suggestions. You’re probably right, if someone was profiting off my system it would be a swift kick in the butt for me! I’m uncertain of the approach I’m going to take yet. I may take a month to paper trade and build myself back up mentally. Because yes, I’m happy with the system I’ve developed. I just need to learn to have more trust and faith in my abilities. Blowfish I agree with you completely. It’s the fear of failing, of being wrong about my decisions that seems to hold me back. No big deal, its something many of you have overcome and I know its just a hurdle for me to overcome. Its a great opportunity. Hey, if it was that easy, 95% of traders wouldn’t lose money. Walter Great post! As I read your advice something hit me hard. Through June/ July / August I was making more money than I’d ever made before, not just in trading, but my entire life. Having consistent success focusing only on properly executing my system and having fun in the process. September / October / November have been the exact opposite, and my success has been minimal. With hindsight now I realize I’ve gone from being passionate about trading to chasing the dollars. I mean look at my post, my focus has been to earn X amount of money a day. When I was successfully trading I was just having fun and enjoying the process of trading with tons of passion. I can feel that has since changed. Thank you for allowing me to become aware of this. Darthtrader That is very true. Although in my case all entry/ exit/ target strategies are in place. I think Walter has really helped pinpoint my challenge. Thank everyone

Oac Yeah, good idea. Think I’d rather give it away and make someone’s day... TOG Awesome! I’ll read over the article tonight. Thanks for the input and advice. Stanlyd I’m going to give that a shot too. I’ve heard running on the spot or doing push-ups like you do helps to get away from the screen. I’ll probably give placing the trade and exiting the room an shot. And no it’s not crazy, I read once Bret Steenbarger hops on the trend mill while letting his profits run. Ckait Exactly! That’s why I don’t sim trade anymore. I can sim trade till I’m blue in the face and successfully trading everything but that doesn’t mean much to me. It just proves me edge works. It doesn’t mean I’m successfully applying my edge. Thanks for the encouragement. I have overcome this in the past, but it seems to have crept back. It’s a process, I’ll get it right. I’m going to apply everything you guys have suggested. I’ll report back Friday and let you know how it goes! Thanks again, Ryan:)

Kiwi, Awesome advice. Thank you very much. I've already got my mike infront of me might now. I've practiced a few trades already on paper and noticed hesitation and lack of confidence in my voice. Cant wait to give it a go tomorrow live. Thanks for all the great input. Ryan

Sdoma Yeah, I think simply taking my hand off the mouse will be effective. I’ll apply that simple strategy Friday. BlowFish Yeah, I’m totally good with simulation mode. But thinking about it now I haven’t traded simulation for over 6 months. I have had some incredible consistent success for 4 months straight, then had a mindset shift and have been struggling with executing trades based out of fear. You’re right; I am breaking the circle now. I’ll do these then, take my hand off the mouse and get away from the computer. Does anyone know what process Blowfish is specifically talking about? I do have Douglas’ second book if it’s in there. Thanks guys for the help and advice. Ryan:)

Head2k Thanks for the support. I do feel that is a huge success in itself. Also, begin able to clearly understand the sector I trade is a major success. I used to place my attention only on the system and not the monetary gains. Possibly a good idea to go back to, thanks! Brownsfan019 It’s nice to know I’m not alone. Alright, see where you’re going and you right. The part that stood out for me the most was this....Cancelling the trade because of being afraid to lose money and have to go back to a different lifestyle, job, ect. That’s really the unfounded fear. I’ve been trading full time from home for almost 6 months and the past couple months have been rough, mentally...and now I’m seeing the effects in my account size. This is something I have to overcome to get back on track trading successfully. Everything else is good, sector; back testing, risk control, ect. Thanks for bringing this up. I suppose it’s as simple as executing the trade and sitting on my hands.... Bearbull That is so true. Right now I’m using very minimal leverage and my risk is @ 5%so my actual dollar amount of risk is fairly small. Basically what I’m hearing is to keep placing the trades and let them get filled over and over again. Keep following up with a stop and limit order then let the trade work. Practice this over and over and over again trading live. The funny thing is that almost all the trades I feel fear about placing....are the successful ones. The ones that are comfortable usually end up being losers. Alright, so for Friday I’ll enter the trade on time and follow through with a fill. I’ll let you guys know how it goes and how I felt! Thanks! I needed to hear some positive feedback. Ryan:)

Alright guys, need some help here please! I have a block and I was wondering what suggestion you all have to overcoming this. Last week I decided I was going to set a dollar figure target of $400 a day for the next 30 days straight. That’s extremely feasible to do and 95% of the time my edge generates this and more within the first 20 minutes of the day. So now its Thursday, every day up to today I had the same results. I clearly understand and see the market, understand and see my edge, clearly have a detailed plan written out....then place the trade. So I pull the trigger, then within seconds of just about getting a fill...... I cancel the order. I’ve done this 4 days in a row and every trade hits my price target. I’m having a serious unconscious block based out of fear. The good news is that I’m now placing trades comfortably in line with my edge....the bad news is I’m cancelling them before I get filled! Is this just a retarded post because isn’t it as simple as... “Don’t cancel the trade!?”. The strange thing is that sometimes I don’t even remember actually thinking about cancelling the trade after I have already clicked the mouse to cancel it. I’m getting closer guys; I’m happy with my system (edge) and understanding of market behaviour, just need to let the damn trade get filled! :doh: Any suggestions, tips, help, thoughts would be greatly appreciated. Maybe I’m looking for encouragement! Thanks, Ryan:)

Hey Blowfish, I've had several market dreams before and the majority of them played out almost to a tee the next morning. When I did follow up trading those dreams the next day it was very surreal. Even though I would have placed the trades anyway following my edge, it felt as though I had already traded this exact scenario the night before. If you’re having market dreams you must have been trading for a few years and to a certain degree become intuitive about market behaviour. I didn’t start developing small market intuition until earlier this year after trading for over 5 years. I find it best to be open minded about those dreams but not to be too biased one direction. Ha, yeah it doesn’t have to be! Do you know that he have over 60,000 thoughts a day and sleeping provides the time to organize and file or conscious and unconscious thoughts throughout the day. Also whatever you watch / experience 60 minutes before you fall asleep is what were most liked to think about the majority of our sleep.( this is why falling asleep in front of the TV in an induced state is terrible) Market dreams are very powerful because during out sleep we tap into the non-linear quantum field. A place where the past, present, and future exits at the same time. I truly believe that market dreams are us simply tapping into a parallel moment that is already happening within the quantum field. When we take action on those trades the next morning we simply bring the experience from the invisible to the physical. Ryan:)

Suri Great in-depth article. I’ll take a look over and heed some of your suggestions. Thanks for sharing. Fifty2aces Excellent points. I do stick to a 20 sample sizes of trades and don’t re-evaluate things until the week is over. I’ll still use the sample sizes but also use the dollar figure as a target because it is very tangible. BlowFish Great point also. That’s where my conflict exists. Because I define successful trading as properly executing my system and allowing the profits to be the by-product. That’s why I was curious if you guys had daily dollar targets set. Suri’s article gives great points how to evaluate that. Thanks everyone for their advice, Ryan

Hi Minis Trader, Great points. I do review my goals daily and find that most beneficial to keep everything fresh on my RAS (reticular activation system). By having a smaller goal set as you get started you will be able to focus only on setups that meet the rules of your system and you will start to build belief in your signals. You just have me an awesome idea. I have a struggle with thinking I’m limiting myself and my system by lowering my goals to $250 a day. But, one of the area I am in the process of overcoming is to enter the markets on time off a valid signal from my system. Starting Monday I’ll enter the markets with valid entry reasons and then just immediately follow up (with a stop) and a limit order at a prices target of $250. And if the trade rides through to my actual system target then I can take profits on paper for now. At least this way I can train my brain first to get comfortable entering in on time. My friend you are brilliant. Thanks a ton! Ryan:)

Hey Guys and Gals, After heeding some advice from Minoo I came to realize my challenge is 100% mental and not edge. I truly believe that if you’re highly analytical it’s not difficult to develop a successful winning edge. To me having an edge is very black and white, although it can take many years to create one, once the basic rules and guildlines are there, it’s very straight forward. However there are so many moving parts to the human mind. Our brains are pretty much the most advanced pharmaceutical store on the planet. It takes a lot of mental work and repetition to develop our minds to a level where they are in sync with your system, or hence the self sabotage. So heres my question to you all, Do you focus on a daily profit target or solely trading in line with your edge or both? By the way, thanks everyone for their input. Every morning I wake up and meditate for an hour before the markets open. During that period I've realized that every morning I’d feel very nervous and overwhelmed about trading. I came to the realization that I had a set monthly target of a dollar figure I was looking to hit. Around $1000- $1500 a day. I’m still trading “1 lot” until I reach a level where I match my systems performance. Basically to perform that I’d have to “squeeze” every ounce of profit out of the day and trade my system to a tee....perfectly. I have done this in the past but not on a consistent basis. So now what I’m thinking is to set a daily target of $250 a day when I think of that I don’t have the feelings of doubts fears and anxiety. I have a goal to average this daily target for the next 30 days, just to gain the feeling of consistently earning money every day in the markets. Then move it up to $300, $400, $500 ect. Does anyone think this is too limiting and I’d be training my brain to take profits too early as my technical targets would have not been reached or is it a good idea to get myself used to consistently earning revenue? Or is it better just to focus on trading my system and let the profits be the by product? Thank all for the input, Ryan:)

very nice, thanks for sharing. Thats great advice. Being present and witnessing our emotions while trading. Cheers, Ryan

Jon Great post, and no you’re not rambling. You never know when your thoughts might inspire someone to make a positive change to their trading results. I do agree that it is very black and white, very simple. Have the rules and trade them accordingly. But like you said, if it was really that simple, 95% of the people who do this wouldn’t be losing. I do believe the mindset is more important than an effective edge? No. I believe they go hand in hand to obtain high levels of success in trading. With that said, I do believe one must come before the other, and the proper mindset must come before an effective edge. (or hence you end up with my challenge). If we have the right mindset first then we have the ability to succeed with any successful strategy we develop. JBWtrader That’s so true. Excellent break down. I fall into numerous categories you mentioned. I went to Mark Douglas’s site and he sells a product called the “daily traders journal”. Would you suggest quickly making a few notes of the emotions I feel, before, during, and after the trade? Then not reviewing those emotions until the weekend approaches? I’m hoping this will give me a better overarching view of the self sabotage I’m creating. Steve Good example, simple and free! You gave me a pretty good laugh! Thanks all, Ryan

Hi Soultrader First off thanks for founding a great place for traders to network and mastermind. Yes, I absolutely agree with you that it’s much better belly to belly. I’m up in Vancouver, Canada (BC) and I know there are tons of traders here. I just haven’t made the decision to get into contact with anyone. Actually, I’ve been trading for over 5 years now and in the past week this is the first time I’ve ever got into contact with other traders. Stubbornness and Ignorance could play a role here! I suppose that all changed when a friend told me your going to have to do it on your own, but you cant do it alone. Thanks for the great tips. With that said, if anyone is located out near Vancouver, Canada shoot me a post or an email. I’d love to meet up and bounce some ideas around. The ability to network with other traders in their location is a great idea. Thanks again, Ryan:)

welcome to the club, check out the Edge Vs. Mentality thread. You may find some solutions there. Best of luck!

Hey Steve, Thanks for posting your solution. I appreciate that. That’s a great option and probably a better route that what I was thinking. I should have re-framed my question. I'd be happy to speak with another individual trader having consistent success earning $250K+. As it pertains that my annual goal and I have yet to come close to hitting the target. However, with that said, it may be best just to invest in the service and gain my personal experience with the experts anyway. Or do both. Great ideas Steve, I'm also in the process of touching base with an NLP technician. Thanks, Ryan:)