Yesterday, took two real-time trades – and this time decided to actually place the trades in my CMC brokerage account, rather than making it only a paper trade. It did seem to have a bigger psychological impact than when I am doing my real-time paper trades. Maybe this is because I am now more self-aware. I was paying attention to my self-talk whilst the trade was on, and how I was feeling in response to the result – it does seem to significantly impact my behavior and how I interpret market information, my colleagues and life generally. The steady testing results are starting to build some faith and confidence (up 9R on 35 DAX trades in simulated environment, up another 9-10R on 15 real-time trades for Dec/Jan – so that’s up just under 20R on 50 trades) but still – I need a lot more.
Working on the Trader…..
GYM – One good change that i have introduced into my routine is that I went to the gym in the early afternoon and “pumped some iron”. During the workout (when not breathing heavily) I thought about my behavior. My market analysis, my discipline and patience, my trading generally is all improving I think. The potential insight was that when I put on a trade I need to really step back and ask myself whether I might be seeing things that are not there – am I reading my emotions and my thoughts onto the chart? Am I treating the setups, and the position management in the same way as I am in the testing? If the answer is “yes”, then all is good. Keep going. If the answer is “no”, then I need to focus more on the psychology workings. Another good question that I came up with was “Why am I continuously looking for more information on my open trades?”
HELPING OTHERS AND FOOD FOR THE SOUL – In the evening, after skyping with my nephew to help with his schoolwork, I went to the cinema and saw “Whiplash” – a fantastic film, particularly if you like Jazz. The film felt quite a bit like a therapy session for me. I am sure I will be able to use the film in the Applied Psychology Crash Course.
Looking at these comments in the light of conversation with my trading coach in early December. Definitely making some good changes at the moment.