How do you deal with desperation?

Discussion in 'Trading Psychology' started by lasse, Mar 19, 2014.

  1. lasse

    lasse Casual Member

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    Hi guys,

    for me this month is a strange thing.
    I introduced stricter rules for myself to keep from overtrading and beeing more picky in general.
    Now I havent taken one single trade so far this month (despite there were few that fulfilled my conditions, somehow I overlooked them) and I really feel worse about that than I felt losing many trades last month, its crazy.

    I feel like everybody is making money but I sit around missing opportunities. These thoughts make me wanna break my own rules and just trade to avoid this feeling of missing things out...

    On the other hand it makes me really desperated and I catch myself telling me that I will probably never be a succesfull trader and that I'm completely wasting my time.

    I just try to tell myself to not listen to these thoughts, but its hard, especially to keep up discipline under these emotional circumstances.

    Do you guys know these sorts of feeling/thoughts?
    If so, how do you deal with them?
     
  2. vasude

    vasude TFG Forum Junkie

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    these situation comes in everyone life when market gets tough ,i am also traded less this month ,only two trades so far
    better wait for oppurtunity and follow the rules.
     
  3. lasse

    lasse Casual Member

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    Thanks for you comment Vas.
    I had some more thoughts on it in the mean time and I try
    to see the whole thing in a positive way:

    Firstly: I havent made money, but I did not lose any, too. Not bad.
    Secondly: I sticked to my plan despite it is challenging. Good thing!

    To reduce the feeling of missing opportunities Ill try to keep myself off the chat room.
    It doesnt really make sense to look at it on a regular basis throughout the day
    and watch people talking about 4h trades when I personally will anyway trade the daily charts after NY close.
     
  4. fxtwitter09

    fxtwitter09 Regular Member

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    Same here. I plan my trades before the week starts and if they don't come up then I don't trade. So far, I have only executed a single trade this month. Traders have different backgrounds and built (mentally and emotionally). You have to know yourself because it's your money at stake here. No one's going to bail you out in case you lose.

    I always think that with less trades, there are less worries, less emotions and less stress. And you don't need to trade a lot to make money.Let's say you're only going to take 2 trades a month for 1 year, that's a total of 24 trades. Let's say for the heck of it you have a 50% win rate with an average of 1:3 per win. You're risking a fix $200 per trade on your $10,000 account. In one year time, you have accumulated $4800 on your trading account, a 48% return, which is excellent in my opinion.

    Again, some traders are not built this way. So you have to search your soul and know where you're comfortable at.
     
    doxe likes this.
  5. gauri

    gauri Guest

    Hello, It seems to me that people in your position are often wondering what the way. I learned to cope with the feelings of loss, desperation, pain, hurt, and fear that I felt, was to really focus on being mindful.
    Thank you
     
  6. rakhi

    rakhi Casual Member

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    How to Stop Feeling Desperate when You're Single. Being single can be difficult. You may see everyone around you in relationships and be desperate to experience the same thing. You can stop being desperate when you are single by keeping.
     

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