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Strategies & Market Trends : Daytrading Psychology -- Ignore unavailable to you. Want to Upgrade?

To: the Chief who wrote (69)	12/3/2000 10:48:35 AM
From: Threei	Respond to of 104

the Chief, perhaps it's that Physcology that caused slight deviation from the major line of the thread, LOL. Sorry, no more posts from me on brokers/executions. We touched this from the point of view of what shouldn't be blamed etc, then question, answer, comment... you know how it goes. To return to the thread topic not retyping what was already said, let me refer to some of posts on this matter: Proper mind set Message 12023887 Switches in thinking that are necessary for successful trading realitytrader.com Why we don't keep stop losses and how to tune one's mind to do it realitytrader.com Best regards, Vadym

To: the Chief who wrote (69)	12/3/2000 12:50:00 PM
From: LawStor	Respond to of 104

I have to agree as to the reason you started this thread. Psychology and mind set of the Daytrader. Commissions, brokers and the mm who fills my order are the least of my worries. Executions and the stock for 8th, 1/4 or points are what I trade for. Getting ready for the open and shutting down after the close. Win or lose and how I react to each good and bad day. Should of, could of and would of, I have learned to leave behind for the most part. Thus is one of the hardest things to let go of as most daytraders hate to leave to much money on the table or take to big of loss. As I stated in an earlier post I have chosen my entry point and exit either green or red prior to placing the order. Trying to live with that rule is most difficult sometimes. Regards, Elwyn

To: the Chief who wrote (69)	12/3/2000 4:00:26 PM
From: dpl	Respond to of 104

This is what I do. First I try to think in terms of points instead of money.I do this by looking at what my account did once a month even though I trade almost every day. I never put on a trade unless I know exactly what I will do under any condition.There should be nothing your position can do without you knowing in advance what you are going to do about it. I try to make trading as mechanical as possible.Use your software to help.For instance do you need to watch if a position is going against you or can you set an alert to go off.I was surprised how little I needed to stare at the screen. Just a few things David