When these people see a profit they begin to panic because it contradicts the belief that they should lose.
"If I thought that I should lose then I wouldn't be placing the trades" -Old Trading buddy (you know who you are).
This damaging mind set is not limited to individual trades.
When/if their accounts start growing this also contradicts the belief that they should lose and the more they win the more they feel they should lose until slowly/quickly the accounts starts to decline until they reach their starting balance at which point they become sober again having been relieved from the psychological stress of profitability (your welcome )
You are winning unless you lose, but next trade you are winning!
When you see profit it is completely normal because YOU SHOULD BE WINNING!
If your heart beats faster before, after, or during a trade then YOU ARE RISKING TOO MUCH!
It seems that somebody has forgotten the mantra...
prochargedmopar wrote:I broke it. What now?
I'm not sure if I like this scaling into trades, yet. I don't feel like I'm risking as much which I think made me feel a little lax when going into draw down. Also putting in feelers I was not as selective.
Makes it much harder to enter trades that are winners because I"m thinking that it's already maxed out and is about to reverse and wipe out any profit made with the 1 or 2 that are in the trade.
Hmmmmmmmmmmmm
More rules have complicated matters when I still can't follow the few that are in the psych line trading plan.
-50.5\3 = -16.83
Balances: -325.99 -85.62 = -411.61
-8.9%
Got to chatting with dad a broke a few more rules by going LONG against D1 and H1. I even did the dasterdly deed of moving my stop. See the 23.x stop out.
Looky here!!!!!!!!!!
-92.1\3 = -30.7 or -85.62
I fixed total balance above.
Here are the trades.
10956020 EUR/JPY 9 B 131.786 131.604 -18.2 -16.96 0.00 5/12/2009 10:08 5/12/2009 10:14
10955765 EUR/JPY 9 B 131.913 131.679 -23.4 -21.81 0.00 5/12/2009 10:06 5/12/2009 10:11
10953835 EUR/JPY 9 S 132.076 131.944 13.2 12.30 0.00 5/12/2009 09:39 5/12/2009 09:39
10953706 EUR/JPY 9 S 132.123 132.116 0.7 0.65 0.00 5/12/2009 09:37 5/12/2009 09:39
10953763 EUR/JPY 9 S 132.106 132.116 -1 -0.93 0.00 5/12/2009 09:38 5/12/2009 09:39
10953731 EUR/JPY 9 B 132.142 132.123 -1.9 -1.77 0.00 5/12/2009 09:37 5/12/2009 09:38
10953572 EUR/JPY 9 B 132.356 132.194 -16.2 -15.08 0.00 5/12/2009 09:35 5/12/2009 09:37
10953428 EUR/JPY 9 B 132.505 132.343 -16.2 -15.07 0.00 5/12/2009 09:32 5/12/2009 09:34
10953215 EUR/JPY 9 B 132.441 132.462 2.1 1.95 0.00 5/12/2009 09:31 5/12/2009 09:31
10953082 EUR/JPY 9 S 132.505 132.497 0.8 0.74 0.00 5/12/2009 09:28 5/12/2009 09:28
10952974 EUR/JPY 9 S 132.513 132.446 6.7 6.22 0.00 5/12/2009 09:26 5/12/2009 09:26
10950616 EUR/JPY 9 S 132.643 132.483 16 14.83 0.00 5/12/2009 08:51 5/12/2009 09:21
10952070 EUR/JPY 9 S 132.565 132.483 8.2 7.60 0.00 5/12/2009 09:09 5/12/2009 09:21
10950617 EUR/JPY 9 S 132.618 132.771 -15.3 -14.17 0.00 5/12/2009 08:51 5/12/2009 08:53
10950236 EUR/JPY 9 B 132.736 132.668 -6.8 -6.30 0.00 5/12/2009 08:46 5/12/2009 08:51
10950073 EUR/JPY 9 S 132.698 132.745 -4.7 -4.36 0.00 5/12/2009 08:43 5/12/2009 08:46
10950004 EUR/JPY 9 B 132.745 132.643 -10.2 -9.46 0.00 5/12/2009 08:42 5/12/2009 08:43
10949698 EUR/JPY 9 S 132.603 132.606 -0.3 -0.28 0.00 5/12/2009 08:38 5/12/2009 08:38
10948359 EUR/JPY 9 S 132.796 132.697 9.9 9.18 0.00 5/12/2009 08:21 5/12/2009 08:28
10948386 EUR/JPY 9 S 132.756 132.697 5.9 5.47 0.00 5/12/2009 08:22 5/12/2009 08:28
10947525 EUR/JPY 9 B 132.985 132.823 -16.2 -15.01 0.00 5/12/2009 08:03 5/12/2009 08:05
10947094 EUR/JPY 9 S 132.820 132.935 -11.5 -10.66 0.00 5/12/2009 07:58 5/12/2009 07:59
10946943 EUR/JPY 9 S 132.798 132.935 -13.7 -12.70 0.00 5/12/2009 07:56 5/12/2009 07:59
Total 207 -92.1 -85.62 0.00