How Do You Behave ?

[mohsinqureshii 10]

While trading its always many different sentiments either you are loosing or making money.Talking about loosing trades I start smoking a lot as when I don't know why traders smoke a lot while loosing money - I think its just because they want to keep them self out of tension and I do the same but I don't have any answer for that - I have seen many people shouting at their colleagues , even children while they are loosing money but I have a way to keep myself relaxed and that's my cigarette pack.

 

While making money its totally opposite shouting and hugging the friends and colleagues while making a good money - and some times they are out of control and unintentional while sitting in a meeting and watching the profitable trades and laughing even the boss is in a very bad mood and scolding for some mistake.

 

I am a trader and these things are part of my life.

[Mysticforex 13]

I quit smoking years ago. So now I ride my motorcycle.I start feeling better in about 15 mins,

 

If my Wife were to ever leave me and take everything, the house, the boat, the cars. the two things I would miss most are my Dog and my Motorcycle.

[TheNegotiator 13]

Euphoria and frustration over winning and losing trades makes no sense. One trade never makes a trader what they are. If it's indicative of an underlying problem in either yourself or your strategy then yes that could have implications on other trades. In which case you have to deal with it. If you have your plan nailed down though, you're far less likely to get to that emotional state. Having said this, everyone is human (I hope) and therefore emotions are inevitable. Knowing what types of emotions you are susceptible to and therefore being conscious of them when they do come up allows you to adjust better at the time and avoid costly errors of judgement. Doing exercise then allows you to release the tension and subsequently address what went on. Smoking probably masks the issues (and is pretty terrible for your health). Each to their own though

[Perrin 10]

I don't smoke but if I did and I started feeling like I needed a cigarette, I would take that as a sign that i should exit (or I should start looking to exit) my position. Don't start smoking - just exit the trade and breathe fresh air instead. It's better for you in every way!

 

Likewise, when I feel that I want to start jumping up and down celebrating a profitable trade, I take that as a sign that I should bring myself back down to earth, focus, and that perhaps I should start looking to exit my position.

 

(What I would do would also depend on where I am in the trade, what the charts look like, and what my pre-prepared plans say I should do at whatever point I'm at. However, I am well aware that creating a plan, following a plan, and doing everything the 'right way' is easier said than done.)

[Eddie Z 10]

:frustrated:

I don't smoke but if I did and I started feeling like I needed a cigarette, I would take that as a sign that i should exit (or I should start looking to exit) my position. Don't start smoking - just exit the trade and breathe fresh air instead. It's better for you in every way!

 

Likewise, when I feel that I want to start jumping up and down celebrating a profitable trade, I take that as a sign that I should bring myself back down to earth, focus, and that perhaps I should start looking to exit my position.

 

(What I would do would also depend on where I am in the trade, what the charts look like, and what my pre-prepared plans say I should do at whatever point I'm at. However, I am well aware that creating a plan, following a plan, and doing everything the 'right way' is easier said than done.)

 

It is good to know that we all have our buffers or ways to let go. Choosing a healthy escape is definetely the goal. It is very important to watch our emotions regarless of what they are at any given moment. By doing so, instead of just reacting we can get in touch with what really is happening inside. Whereas this is euphoria or frustration, all these emotions come from our human condition reacting to triggers. The market can awaken all kinds of feelings that we did not even know we had, so watching and analyzing them is vital for growth and better trading.

[Jack Francisco 10]

To be frank with you- before when i lose - I used to break something found in front of me. but now when i have a losing trade, then i just leave a the terminal for a few minutes just to refresh my mind. because revenge trading is the most common reaction to a losing trade, to avoid that situation i make it a fact to refresh my mind whether there is a loss or profit in the trade. if we get tense about trading then close the computer for a while and do something else for some time, after you have cooled down then come back to trade:crap:

[Tams 20]

instead of asking "How Do You Behave?"

 

the trader should be asking "How Do the Market Behave?"

 

 

or more precisely, the trader should be asking "How Should the Market Behave?"

 

 

 

eg. when you entered LONG, the market should go up.

 

some people, who swing trade, or expect to hold the position for a few days or more,

usually have a wider stop. They expect the market to go up, but they don't need it to go up right away. They usually use the day's closing price as benchmark. The market can go up or down a bit during the day, so long as the closing price is positive, they are ok.

 

some people, who are on a small budget, who can only afford to daytrade. These people usually do not know WTF they are doing... They expect the market to go up, AND they need it to go up right away. They usually need the trade to perform immediately, or they are out.

 

It is the second group of traders who get emotional about the trade.

It is the second group of traders who need to throw things, or drink, or swear, when the market goes slight off the trail.

 

 

Do not ask "How Do You Behave ?"

ask instead, "How Should the Market Behave?"

For the truth is in the market... we are only a parasite hitching a ride.

[SIUYA 11]

c'mon Tams.....behave yourself.

you are very correct, but the thread is still How do you behave?

 

Personally

Behaving well......

When the market is going up and I am trying to get long, running those longs and not trying to short it.

When the market is going down and I am trying to get short, running those shorts and not trying to get long.

 

If I am bored because I am making money then I am behaving.

 

Behaving badly.........

If I am trying to pick tops and bottoms, (without any clear reason to eg; massive support or resistance, and these occurances are rare).

 

If I am getting bored and I am trying to expect too much, or trying to tweak too much or trying to be too smart.

 

If i am not doing my preparation, end of day review or taking punts for the hell of it

 

If I am getting angry because I am loosing money because - I am doing stupid things, OR I am angry at other things in my life but using trading as an excuse

 

 

as for reactions from individual trades.....please see above.

 

as for reactions for when i behave well.....I am bored. (sad but true)

as for what happens when i behave poorly.....my bank account goes down, and that is punishment enough when i would have rather spent it on wine, food, and women - the rest i waste. (thank you George Best). Stop trading, breath in do what you should be doing and start trading again.