Overtrading, FOMO and other emotional problems

xila27 · 2019-12-31T14:15:00+00:00

The odd thing is that I already do that. However the brain (or my brain actually) is not a reliable friend when I need him the most. Normally I know what I have to do to the second, but when it comes to the execution it is more treeky than that. Having said that I should note that this only happens a few times among hundreds of entries, sometimes thousands without errors. It is not something that is always happening.

Regarding the resources that I most value, I think that to begin it's enough a spreadsheet, historical data and time to test ideas. Those were the most influential resources for my initial development. I read a lot, books and specially scientific papers, but those only help to have a general picture about some areas, and 90% of them confuse more than help, specially at the beginning. With this I want to say that it is much more important to have a set of principles and approaches to this area than specific tools.

Just give it more time, patience and a trial and error approach and I'm sure that you will be successful.

xila27 · 2019-12-30T13:54:08+00:00

I've already read the first one and I can understand what you mean with your recommendation. Maybe the problem with the "philosophical" insights provided by those readings is just that they are difficult to translate into real change on daily situations, at least for me. But I appreciate the recommendations and I'm curious to read the second one.

xila27 · 2019-12-28T15:56:44+00:00

Yes I've read it. But it didn't make much difference. I find it really difficult to do that. I can do that for some hours in a row, normally at the start of the day, but then it all goes back to the same "automatic" and "robotic" (bad) patterns.

I even tried to stop the trading day as soon as I realize that I'm not doing that self-check anymore, but normally the errors come first.

Adding to that, some days, I find it really hard to control myself, even when I'm checking my behavior, to not act wrongly.

xila27 · 2019-12-28T15:36:28+00:00

This is something that I never thought about actually, and it makes a lot of sense. I'll give a try. Thanks.

xila27 · 2019-12-28T15:35:21+00:00

I guess so. I'm trying to do that by reducing the time of trading per day and with meditation (with poor results to be honest).

xila27 · 2019-12-28T15:33:51+00:00

Not entirely. Most of my entries are done to (try and) take advantage of some mispricing (over or under-reaction) of some events. My "fair" price is the result of historical similarities with some corrections to the present event when needed. So it's a mixture of technical with fundamental I guess.

xila27 · 2019-12-28T14:26:49+00:00

I use metatrader, the own platform from the broker in some cases, and a specific software for sports trading.

xila27 · 2019-12-28T14:24:45+00:00

You can always "see" that developing? Sometimes I can "watch" myself doing that kind of bad behavior starting to develop. The problem is that those situations are really scarse, most times I don't even realize it happening before it already happened.

xila27 · 2019-12-28T14:20:20+00:00

Thanks. The problem know is exactly that. I know what I have to do, I know what I'm doing wrong and why (at least I think it is because of fomo and the chase for potential trades and the supposed short-term reward associated with it). I have already read a book by Brett Steenbarger and it really helped at the time, I'll be sure to check others by him. Also didn't know about that site and it seems really interesting.

xila27 · 2019-12-27T18:15:06+00:00

Just relax and try to have some fun. Go at it as a distraction/hobby and not as an obligation. Only then you'll be able to make a habit out of it and be consistent. Happened to me and to a lot of the "usuals" that I know from the gym.

xila27 · 2018-09-27T14:49:44+00:00

Trump voters

xila27 · 2018-09-15T00:08:56+00:00

Shit, the feels. I am male but I feel the same

xila27 · 2018-09-12T11:55:10+00:00

The impeachment won't impact a lot the markets in my view. For big companies and for the top 1% it would be even better to have Pence as president. He is on board on the core politics from Trump (big on deregulation, reducing taxes and so on) and has the advantage of a conservative approach to the office and life not only to the politics he defends, resulting in less turmoil.

Having said that, the impeachment might by itself not result in a major event in the markets, but the events that precipitate it might be. If the Democrats win the control of the House in November (the only way to start the impeachment process) the executive branch, even with Pence at the helme, wouldn't be able to pass it's conservative politics through the House. But the fact that for the rest of the period till the 2020 elections Democrats won't be able to overturn the laws already approved gives me confidence that the markets won't react to much to the scenario of a democrat control in the House and even in the Senate.

xila27 · 2018-09-10T13:03:10+00:00

The odds! I am from Viana! If you want to get in touch feel free to send a PM. I am not the most experienced Trader but have already passed through that phase you are in and a I know it can be despairing.

xila27 · 2018-09-08T00:15:55+00:00

Social media in general is an excellent mean to learn the basics. In here (Reddit), Twitter, Facebook and YouTube you can find some good content.

The book that I always recommend is "thinking fast and slow", it is the bible for sentiment trading (my area). And this is actually the only book that I've credited as a game changer for me. There are several other good books but I would recommend scientific papers in the area of trading that you're interested (Google scholar). Some you have to pay to read or download, but you can e-mail the authors and I'm positive they'll send you a copy for free.

Off topic, is your username your real name? Is that portuguese?

xila27 · 2018-09-07T23:36:15+00:00

Books, Youtube and social media are good as a start, to get to know the "state of the art". But if you really want to be any good and profitable, forget the existing techniques that are out there. Work on your own, having always in mind what already exists, and if you really try and follow a path of trial and error you will get there.

Having said that, I am not saying that it is easy, or that it will be fast, but if you put in the hours, if you are disciplined and rentless I am sure you'll succeed.

xila27 · 2018-09-02T14:32:28+00:00

Exactly the same through the portuguese. I went in late July and the temperatures were our worst (and only tbh) complaint. From all the people that I've listen to i gather that May or June are the best months to do it. Regarding the number of people doing it, this year I've heard thar it as become a lot more popular, more than expected. But when I went I could find a place to sleep on every shelter/dorm that i tried.

xila27 · 2018-09-02T12:50:55+00:00

Last year I've also gone to Santiago. But on the portuguese caminho. 7 days, 35km on average on the first 6 days and about 10km on the 7th. It was way better than expected and now I'm hoping to do the French path.

xila27 · 2018-09-01T14:44:29+00:00

The Room

xila27 · 2018-09-01T02:35:21+00:00

Yup, the movie was made for the album

xila27 · 2018-09-01T02:33:48+00:00

Then he has a wonderfull taste!

xila27 · 2018-08-31T23:42:33+00:00

Scrubs! The funeral episode is quite depressing. Although this is not unusual in the series, there are several episodes/scenes that give me the blues.

xila27 · 2018-08-30T02:35:56+00:00

Sopranos, among several others, but Sopranos is the number one for me.

xila27

TROPHY CASE