I wrote a post about finding what is broken; you, the market, or your techniques. I can tell you what not to do, specifically. But chances are you already know to some extent, if you listen, well that is a different story. Finding out what to do is a longer process if you are finding it for yourself. In my haste of evading specifics I often skip steps. Once again, I do not want to give everything away and it is your job to make the content your own. It is up to you to figure out what it means to you. The key to solving most problems is looking at it in a deeper to see it more clearly. It is not where you are at, is how you got there.
The light at the end of the tunnel.
Asking for help does not make someone weak. Unwillingness to use the help or consider it, does. I have been a victim of this thinking most of my life, not asking for help soon enough. I was embarrassed or prideful or assumed no one was going through the same things. Sometimes this was true and sometimes I could work it out myself. Don’t get me wrong, I have tested others patience. Being on the other side I have lost my patience. Most of the time it is listening and there are times when I am too honest. I do tell people not be a fuck stick and quit doing stupid shit more often then I should. But if you are coming for advice you are a strong person. At the time you are probably just a strong person at a weak moment. Lift your head up. In order to take the next action you are going to need the energy that comes from seeing the light at the end of the tunnel.
At Indiana, I had two coaches. Coaching changes are hard because generally the coaches come from two different schools of thought. Gerry DiNardo tried to kill us. One of the most psychically and mentally challenging things I have ever gone through. I did not completely understand why at the time. There were two reasons. He wanted to make sure everyone wanted to be there and he wanted to start from the beginning. Breaking all of the bad habits and reforming the mind. Maybe he explained why he was doing what he was doing but I did not see it that way. Defining why you are starting over is important to getting you closer to your goals. I am not saying to start over in learning to trade. But you should be looking at the parts of your trading; the plan and execution.
The problem is never where you think it is. If your problem resided in that place, you would have already fixed it by now. Once again chances are you a looking at the output and not the input. If your problem is getting out too early, show me. If you are not getting filled show me how acting in a different way would have helped. More importantly, what would you have done if you were in that trade? Having real evidence is the only way to find the real problem. Hindsight bias is destructive. Assumptions are destructive. Show me the facts. It might not be a problem. Maybe you are inventing a problem, maybe your plan or rules do not allow you to capture those types of movements.
A step closer.
You have now picked yourself up so you can find out what the problem is. You have started breaking down your process of trading. You have also identified where the problem may lie. How are you going to fix it? First, is it psychological or mechanical. More than likely it is some combination…
To be continued.
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