Dear Nac,
Two more points that could assist you:
1) RESET YOUR MIND: Like any disciplined child, when we START our trading day we are well behaved i.e. the initial trades of the day will be governed by our set rules or entry / exit / stop loss etc. because our overnight revision and committment to adhere to our rules is afresh. As we get into more trades we tend to ignore rules, break them and by the end we realise that it was a messed up day. Hence after each few trades take a pause, reset your mind to the same level as it was at the beginning of the day. You may want to take this pause at a preset time then set alarm on your machine / mobile which will alert you to reset your mind. At this moment it could also help you exit immediately if you are holding a losing position due to non adherence of your rules.
2) RESET YOUR MONEY TO 100: Either winning or losing reset your trading amount to 100. You being down by 32% has immediately prompted your mind to analyse and send you a message that you are 1/3 down from your capital (you have mentioned that in your last post). This figure would play a pivotal role in your trading decisions all the times. Also the mind would always be tempted to recover all the lost amount in one trade (which does not happen). Hence reset your trading account balance to 100 (even if were in profits). Base your trading calls, quantity, risk-reward w.r.t. to 100. In other words, make all your daily calculations in % terms of your trading account balance rather than the starting capital. This will make life much easier and would help you to focus on your actions rather than on results. This may take some time and little practise but it is certainly not as hard as sticking to ones trading rules.
Regards,
Two more points that could assist you:
1) RESET YOUR MIND: Like any disciplined child, when we START our trading day we are well behaved i.e. the initial trades of the day will be governed by our set rules or entry / exit / stop loss etc. because our overnight revision and committment to adhere to our rules is afresh. As we get into more trades we tend to ignore rules, break them and by the end we realise that it was a messed up day. Hence after each few trades take a pause, reset your mind to the same level as it was at the beginning of the day. You may want to take this pause at a preset time then set alarm on your machine / mobile which will alert you to reset your mind. At this moment it could also help you exit immediately if you are holding a losing position due to non adherence of your rules.
2) RESET YOUR MONEY TO 100: Either winning or losing reset your trading amount to 100. You being down by 32% has immediately prompted your mind to analyse and send you a message that you are 1/3 down from your capital (you have mentioned that in your last post). This figure would play a pivotal role in your trading decisions all the times. Also the mind would always be tempted to recover all the lost amount in one trade (which does not happen). Hence reset your trading account balance to 100 (even if were in profits). Base your trading calls, quantity, risk-reward w.r.t. to 100. In other words, make all your daily calculations in % terms of your trading account balance rather than the starting capital. This will make life much easier and would help you to focus on your actions rather than on results. This may take some time and little practise but it is certainly not as hard as sticking to ones trading rules.
Regards,
