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Strategies & Market Trends : Trade What You See, Not What You Think -- Ignore unavailable to you. Want to Upgrade?

To: chris- who wrote (219)	12/8/2000 10:53:25 PM
From: aldrums	Respond to of 867

Hey Chris, Just listened to your interview, great job. Nice to hear you talk instead of Merlin. :) Regarding personalities and emotions, there are two things I have wondered about myself in the last year as far as how I would react when I first started trading. I wondered if I would have the courage to fight back from my losses and I also wondered if I would have the "Killer Instinct" to keep trading on any given day when things were going well. On Thursday I had three losses in succession which brought me down more than a 1/2 point. But I fought back making three winning trades and ended up positive on the day. That was a great feeling. Today, I was not so fortunate, I ended up with my biggest loss to date, I had three losing trades and two flat trades. On one of my flat trades I got nervous and exited too soon (before the trade hit my stop loss) and the stock continued up almost a full point. I think I could have at least gotten 5/16 out of it. That was a very valuable lesson. I have let that happen to me before, but being that I was having a losing day that could have turned positive, this situation made a greater impact. The point I want to make is I have been wondering how I would react emotionally to losing situations, and the truth is I am not even bothered by the losing day I had, and I am not even "emotional" about it. It is because I feel that I am trading with a method that will provide profits which will be greater than any drawdowns in the long run. I also am confident in where I have arrived psychologically in my relation to the markets. It is a combination of your method and the fact that I have done a lot of research, reading and thought on my own to come to this point. I never worry about anything except the tape. I am not worried about the latest indicator, or the fact that Joe Blow is making X amount of dollars a week using a method I am not using. I know I can make money and eventually make a living using my method, and that is all I care about. I reviewed my trades as soon as I was done today, and I can't wait until Monday. I am going to tweak my business plan and make a couple changes to my order routing hot keys over the weekend. I love this business because I am the one that is in control...I never know for sure if the trades I take are going to be winners or losers, but know I will keep trying and studying to keep the odds on my side. Respectfully, Alex P.S. I am not sure if I have the killer instinct yet, but I will be working on it. :)