Nice article. I had a flashback when reading it. All the things outlined is a scary place to be because your emotions take over and you don’t know or you on that state. I think it is a thing to experience because it will happen if you are in the game for any length of time. When you experience you will remember what it was and hopefully be able to recognize it and stop yourself.
Remember the market can stay irrational longer than you can stay solvent.
Ive spun hard before, more than 1x. Turned in to a hard bias and revenge trading that i later beat myself up over for days. Wasn't worth the headache at all but certainly made me aware of what i need to look for moving forward and i now will physically tell myself. "your spinning walk away"
The first one is the hardest. It happened when I still thought the trading is easy and I can make myself out of the situation. Usually ends in a balance liquidation.
You got that right. WIll give you nightmares.. or at least it does me. When Ive gone tilt the lasting effects last days or weeks not only mentally/emotionally but financially too which seems to enlarge the trauma.
Also, charting platforms such as Sierra Chart, Rithmic, Tradovate, ATAS, have risk parameters you can set such as max loss, number of trades executed, max percent of you account loss, etc.
If you were on a trading desk their software would shutoff off once these behaviors are identified .
So be your own risk advisor and automate it. If you can…
These Tools are key for guys why cant or dont recognize the SPIN when its happening. For the less experienced its highly recommended for sure. Good call
Nice article. I had a flashback when reading it. All the things outlined is a scary place to be because your emotions take over and you don’t know or you on that state. I think it is a thing to experience because it will happen if you are in the game for any length of time. When you experience you will remember what it was and hopefully be able to recognize it and stop yourself.
Remember the market can stay irrational longer than you can stay solvent.
Ive spun hard before, more than 1x. Turned in to a hard bias and revenge trading that i later beat myself up over for days. Wasn't worth the headache at all but certainly made me aware of what i need to look for moving forward and i now will physically tell myself. "your spinning walk away"
The first one is the hardest. It happened when I still thought the trading is easy and I can make myself out of the situation. Usually ends in a balance liquidation.
You got that right. WIll give you nightmares.. or at least it does me. When Ive gone tilt the lasting effects last days or weeks not only mentally/emotionally but financially too which seems to enlarge the trauma.
Also, charting platforms such as Sierra Chart, Rithmic, Tradovate, ATAS, have risk parameters you can set such as max loss, number of trades executed, max percent of you account loss, etc.
If you were on a trading desk their software would shutoff off once these behaviors are identified .
So be your own risk advisor and automate it. If you can…
These Tools are key for guys why cant or dont recognize the SPIN when its happening. For the less experienced its highly recommended for sure. Good call