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06 August 2021
05:04 hour

Regaining Control of Your Trading Plan

Reddit Stocks

03/03/2021 - 13:06

Hi all, I was inspired by the choppy market action to do a write up on losing control when you trade. It's extracted from my blog (no self promote, no links or sneaky sheet), maybe it resonates with you: It's about losing and regaining control on the holy grail of trading YOUR trading plan: What Happens When we Lose Control. I posted this in Daytrading but the exact same applies for investors or long term traders. Many destructive emotions or situations stir up feelings associated with loss of control. Some examples of what's happened to me in the past: You buy a stock, it goes down, you sell it to avoid losing money and it literally goes back up the next second, so you jump back in and it goes down again! Essentially, you are trying to control whether or not you make money. The obvious problem here - you don't control price. This is probably one of the most common root causes of over-trading. And comes down to a few things: You do not have a trading plan that you understand Emotions are acted on instantly Fear is in the passenger seat and you are trying to gain control of your emotions Your current system doesn't suit your personality Trading is so full of paradoxes it would make you sick to your stomach, in fact, it does make some people literally sick to their stomach. The very need for control and our primitive brain is basically wired to stop us from making money. Admitting we don't know where a stock will go is the first step to recovery, and a long road it is. Example 2 (Based on the above): Holding onto losses in order to avoid the pain of "loss". There are many terms for this, for more info you can look into the disposition effect. Here we have the metamorphosis of a "trader", someone who always tells you when they are winning to an "investor", someone who holds shit stocks while they tank. Again, this ties into control (and ego) which quite frankly are like peas in a pod and feed from one another. By trying to control the outcome of a trade, we find all sorts of ways to really fuck up our trading strategy in all sorts of creative ways. The very things we try to avoid, which in "normal life can be easy", in the stock market, are impossible. If your wife/husband asks you if you look fat, you can tell a white lie. If a stock goes down and you own it, no lie will bail you out. The stock market doesn't give a shit about how much money we make or lose, it's totally objective. Therefore, saying it's "rigged" or "manipulated" is totally irrelevant because it is rigged for all of us with few exceptions. What we Can't Control The reality of trading in terms of control is simple. It's much better to avoid things we can't control as the energy expended in this way removes focus from what we can control. Very easy to say but the long term impact will be successful trading or mediocre trading. As it turns out, we can't actually control the entire world - who would have thought! Some examples: If a stock goes up or down Black Swan events #Rona-19, 2008 How much the central bank prints or doesn't print How governments will react to certain situations Anything to do with the news If country A decides to bomb country B People (long term) Interest rates Ironically, the things outside of our control are what freak us out of positions, push us into making rash buying or selling decisions and trigger our fight or flight reactions and derail any half-decent trading plan. I will openly admit I spend too much time on what I can't control. When it comes to people, stressful situations and even macro-economics. It is very hard to drown out the inputs from social media, friends, family and others. Even worse still is to avoid holding strong opinions on all of the So What Can we Control All is not lost though. If we could not control any variables in our stock market endeavors it would be pretty damn pointless to trade. The ingredients for success are truly found in the decisions we make in relation to: When we buy a stock When we sell a stock What strategy we decide upon Our environment How much of whatever we buy or sell The types of things we decide to watch, listen to and or read The people we surround ourselves with The daily habits we create around trading Keeping a trading journal Trading reviews The significant difference between what we can and can't control is this little thing called effort. It takes significant effort to find, test, understand and lose money when we start trading, the learning curve really can't be understated. Even worse, those who do well initially end up getting ruined because the precedent is set that "this is easy". That lack of experience always catches up, be it in stocks or any other pursuit. This is the Dunning Kruger effect in action. Having logged my trades for a number of years, many patterns show up and repeat themselves most notably in times of duress. For me personally this included the following - for which I now am 100% accountable. Buying too soon, usually due to FOMO Selling too soon, usually due to fear Buying on tips from Twitter and friends - the worst of the worst, I still fall for this one Not taking trades out of fear These are just a few which were underpinned by one major theme: not following my trading plan. Sure, I still have my days and even months where I have lost control of my process and am tired, sick of everything and slip up. Yes of course, it costs me money every time and if you think I have down days because of it - you are absolutely correct. The real difference now is I know where I am going wrong, that I can improve it and make serious money trading stocks in the long run. I know what I can and can not control. It all starts with having a clear plan, a very understandable unambiguous trading system, tons of real trades and a meticulous journal to keep track of where you are winning and losing. Over time, taking these lessons and reshaping habits, patterns and hang-ups to eventually become consistent and eventually have it down to a performance art. The apex of these points is total control over what you do during the trading day, how you can manage your emotion and execute that trading plan. The ability to follow this plan and learn from will either create or destroy potential traders, especially in the long run. Very long post, sorry - I hope it helps!   submitted by   /u/shootermgavin_crypto [link]   [comments]


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  41. Afghanistan: A decision to lose? (27/06/2021 - Financial Express)
    Ever since the US announced in mid-April that it would complete withdrawal by 11 September 2021, the Taliban in a reinvigorated offensive have blitzed through the length and breadth of the country seizing control of an additional 61 Districts and, as on date, control 134 Districts (total of 407 all-Afghanistan) and contest 178.
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  42. I plan on capitalizing on INTC PUTs tomorrow morning by buying LOW and selling the same PUT at a HIGH price. (23/04/2021 - Reddit Stock Market)
    I see that one stock that has decreased a lot in value during after-hours trading is INTC. I'm focused on this stock even though there are many other stocks that have declined even more. I'm focusing on this because it's a very large company with a very liquid options market. Anyways, we see that INTC has decreased 2.24% in after-hours trading today thus far. I want to capitalize on the "overshoot" associated with the options prices here. I plan on: selling an option for $2.70 with SP=$60 and expiration June 18th. I also want to BUY the same put for $2.20 with SP=$60 and expiration June 18th. There's a slim chance that one or both aspects of my transactions would get exercised. Regarding why I'm selling an option for $2.70 is because I've developed a very good math model that predicts that when the cost of INTC is $61.25, that the underlying PUT should be $2.55. My model has an R2 = 0.94 . So I'd be selling for a price slightly higher than my model suggests due to the increased volatility and the increased number of traders. I plan on buying this same PUT contract in a few days when the price has stabilized and the volatility is back down. **Regarding my idea to buy a PUT for $2.20: INTC closed at $62.57 yesterday at 4:00 PM EDT, and the PUT was priced at $2.14. I'm hoping to buy this PUT before the price adjusts to the $61.25 price that it's fallen to over-night. What do you think about my strategy here?   submitted by   /u/Heinrich-Dinkelacker [link]   [comments]
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  43. Jio effect: Vodafone Idea rolls out Rs 267 prepaid plan with 25GB data, other benefits (02/07/2021 - Financial Express)
    The major competition of the newly launched plan by the company will be Reliance Jio's Rs 247 recharge plan that provides as much internet data along with similar validity and benefits.
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  44. If my dad buys my stocks, how will I gain control of them when I’m 18? (22/06/2021 - Reddit Stocks)
    I will be 18 in a year and would love to join the stock market. My dad is willing to help me out and buy the stocks using my money. I am wondering how I will gain control of the stocks when I turn 18 if he is buying them using his bank and account. I live in Canada if it makes any difference.   submitted by   /u/LochlanBos [link]   [comments]
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  45. Recovery plan: how do you plan on recovering this week, IF the market turns green? (08/03/2021 - Reddit Stocks)
    As someone who swings/day trades, I couldn't handle last week, and simply just didn't trade. I figured that share prices are so low as of now, it'll be pretty easy to get back in on them. However, I began trading in a bull's market, I don't know much about recovery plans and how to, "Get back in" to the market. Chances are, I'll just buy back into my positions at an already discounted price and keep it simple. Any thoughts on how you would make this approach?   submitted by   /u/fatboywonder12 [link]   [comments]
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  46. United States Imports - Laboratory, Testing & Control Instrument (Census) (03/07/2021 - Trading Economics)
    Imports - Laboratory, Testing & Control Instrument (Census) in the United States increased to 764 USD Million in May from 742.50 USD Million in April of 2021. Imports - Laboratory, Testing & Control Instrument in the United States averaged 292.15 USD Million from 1989 until 2021, reaching an all time high of 764 USD Million in May of 2021 and a record low of 36.14 USD Million in January of 1989. This page includes a chart with historical data for the United States Imports of Laboratory, Testing & Control Instrume.
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  47. People start talking about managing risk and dealing with emotion after they crushed. Please, don't make this mistake. (23/06/2021 - Reddit Stocks)
    In the beginning I shared one of the most dangerous bias of a young trader – I came to make money, not to lose it. This is fundamentally wrong. I spoke with many folks about it and they all seemed to have this bias. In fact taking small losses does not equal to losing money. There’s no way you can become a profitable trader if you are not ready to be wrong anytime you make a bet. The key is how fast you understand your emotional trap and find a system to stick to it as much as you can. Self control is like a muscle you’ll develop it with time. It’s easier said than done. I continuously made errors on the market before I began to simply put stop loss and take profit. But this is simple enough to start. I followed recommendations from the traders I've found on thiq qooore app and set up everything without checking it try minute. This is good for beginners, before you start digging deeper into the books. I gradually changed my perspective and traded weeks after weeks sticking to the plan training my discipline. My personal book recommendations are: Beginner Trader Psychology Mastery Guidebook By Joseph Lira; The Psychology of Trading: Tools and Techniques for Minding the Market by Brett Steenbarger and Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets by Taleb Now I took all guesswork out of my stock trading – I keep diversified portfolio and dollar-cost averaging is a strategy investing equal sum at a regular, predetermined intervals. My emotions are not attached with the real money trading. I really hope this advice connects with some of you :)   submitted by   /u/fanatiekcm [link]   [comments]
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  48. Write up a plan (11/05/2021 - Reddit Stocks)
    Recent posts here are mostly about questions regarding inflation, selloffs, uncertainty. You can't be uncertain if you have a plan. Most people that came to the stock market are without a plan and when some first idea doesn't work you pivot, you try different things losing even more money. I've made a post bashing new investors for their lack of balls during red days so this is not it. This is a small guide to help you cope with emotions. Market is driven by 3 major factors. Emotions - you can control them if you have a plan, altough you can't control what the market does. If there is a huge selloff and your strategy tells you to invest long term in for example utilites, treat yourself and buy the dip! Huge institutional investors. Well with our amount of money even if you are in the millions you and me - we are screwed. If they fart left and we go right well too bad, we need to wait for a change of wind direction. Logical valuations. That is also within your area of competence. You can read 5-10 years worth of 10Ks and decide if a company suits your methods or not. That is if you are INVESTING. There is a HUGE HUGE difference between investing, day trading, swing trading and trading options, investing for growth, investing for value or speculation. You can't make money long term if you don't know into which group you belong. I for example am investing my money LONG TERM. Which means even if market dives I take my cash position and I deploy it to make more money in 2-3 years. I reinvest every single dividend for a snowball effect. I can't understand why people are joining a discussion without having any sort of fundamental information regarding investment strategy from the OP. Yes we see you red lines, we see your winnings but tell us WHY and what for you are investing. For how long? IMO every post should being with: I am XYZ type of investor My time frame is XYZ My risk tolerance is low, average, high I am using XYZ method of trading (swing trading, day trading, long term holding) ​ We can't have a decent sub without these type of infromation, right now this is a pit where people are dumping their thoughts like shit into toilet without any freaking context. ​ So. The planning part. Ask yourself truly how much can you lose. Ask yourself why are you investing. For how long When to exit. For example if stock is 1-2-3 fold or maybe just after 30% uptick? Have that and then don't cry when you see drop from 178% gain to 13% because you never exited that position. I am for example holding dividend paying stocks, when one of them rises 50% I sell and I put that money into something else or I reinvest to the pie I have. How much can you really add? Are you going to DCA ( dollar cost average)? Throwing around HOLD THE DIP or JUST DCA won't work for people that are in the market for a 3 year timeframe. I can hold a stock for 10 years without a flinch but most people can't. If you are uncertain use a paper account. Most of the notable platforms have a form of trading virtual money. Do it for a year and see if you are not bored already. It's about the process, a journey, if you are in for a short squeeze of time just play option like in a casino and then whine about losing or brag about winning. It's like giving a leash without a dog to a child to see if the child keeps walking out with the leash to make sure it can handle a dog long term. Make sure to be up to date but don't make decisions based on inflation or the interest rate if you are a long term holder. I know that inflation is a bad sing for day/swing traders because their positions and trading strategy will be harder so make sure to read up on that. I don't give a damn about those things, only when I buy. I buy once a year. I reinvest everything automatically to see the snowball but I make one big purchase a year. It gives me time, reliefs stress. I can read 100s of 10Ks before I hit that purchase button because of my investing plan I am stuck with it for minimum 5-10 years so it better be good. Decide if buying 10 stocks for 1000 dollars make sense. IMHO it doesn't. If you work with less then 10K just invest in 2-3 very well picked holdings, it will bring more money from divs and natural growth. If you purchase 15 holdings it doesn't make sense and you won't make a lot of money, you will be frustrated. If you can't invest more at a time work on yourself. Get an MBA, maybe do some certifications. Increase your wage. Don't enter the stock market to make it your main source of income without education. For me it is a hobby that will last a lifetime, for you it may be a chance to actually replace your "normal" job. So educate, go to local uni or a course (a good course, not a mentorship). Even if you are 40 and driving a forklift you can go to college and you can get new education. Your family should be supportive about you growing as a human being. ​ It really doesn't matter for me what market will do in 3 hours from now, it may be the biggest drop we've ever seen and I don't care. I wait for a moment like that to deploy cash. If you hold options day trade well hats off to you for such a high risk tolerance and congrats on high rewards. Market is overheated, tech had a huge run but it doesn't mean that we will see a huge correction any time soon. Low rates are balooning the prices. Diversify a little to sleep better. Or not, just make sure you write it down and stick to it. ​ Good luck. ​ EDIT typo   submitted by   /u/FiboPI [link]   [comments]
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  49. Sensex, Nifty extend rally to second day; are benchmark indices headed towards fresh all-time highs? (18/05/2021 - Financial Express)
    Domestic markets closed in the positive territory for the third consecutive trading session on Tuesday. Bulls once again asserted control, taking the benchmark indices 1.2% higher.
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