How to deal with Performance Anxiety?

Trading is often about how to take the appropriate risk without exposing yourself to very human flaws.
Trader Pat
Posts: 4324
Joined: Tue Oct 25, 2016 12:50 pm

Lets get specific. If you're somebody who wants to learn how to trade horse racing then you'll have to put in the time in the markets, that could be 5-6-7 hours a day. Thats pretty exhausting and can be boring and tough to maintain focus especially while trying to absorb as much as you see as possible. Now on top of all that if you have the mental capacity to spend another hour or two a day watching vids or reading up on the mindfulness, self reflection etc.. then good for you. I couldn't do it, and I don't think many people could.

I do get the impression that there are lots of people who are trying to crack trading who spend far too much time on this kind of stuff and not enough time in the markets and all to no avail. They may lose less money with this approach but in the end, they waste a lot of time just to reach the same conclusion. And personally speaking I'd rather lose a few quid over 12 months to realise that this isn't for me than to lose 3 or 4 years of my life just to save a few hundred quid.
Brovashift
Posts: 367
Joined: Tue May 18, 2021 12:35 am

IMO it all comes down to individual self awareness. Each traders journey is different from the next.

Re-reading Trading in the Zone today has already confirmed a thought I had about trying to learn everything about the markets after taking a big unplanned loss, thinking this is what I needed to do to prevent another painful situation like that. When in reality what 'trying to learn everything about the market' did, was not only cause me analysis paralysis, but also turned me from a carefree trader into a loss aversion trader second guessing every trading decision I was making. And sending me down a 2-3 month spiral.

I must admit, I think Im going to be a bit of a fan of Stoicism after using some basic principles yesterday and last night trading the tennis live. By noticing myself when speculating price movement without a trade, and then being aware of myself after placing a back on Swaitek in the 3rd set, racing analytical thoughts and mild anxiety in the chest, by using visualization to calm myself, and repeating to myself that I can only control where I get in and when I chose to close my trade, I cannot control the players... and acknowledging the potential loss and repeating that it cannot hurt me or have any influence on my account, I was able to hold on to the position and thinking clearly after every point about whether I need to close out or continue to hold. Even when it was well into the green and I could hear my inner voice saying "take the green take the green, you'll regret it if Sabalenka pulls it back", even as the green went into double digits (£10 stake), for me thats a good result. But because I visualised and had accepted the possibility of the red, and because Id kept my focus on keeping calm and was thinking clearly, nothing was indicating me to exit, apart from the little panicked voice in my head, so ignored it and held until something changed.
Spoiler Alert!!! Swaitek won and I never had a reason to exit.

Might sound like mumbo jumbo to some, but it worked for me, as all my problems (at present) are psychological. So thanks Kai 👍🏻👍🏻
Brovashift
Posts: 367
Joined: Tue May 18, 2021 12:35 am


....but our only job is to take the few key bits of information needed to execute a profitable trade.
This is so true about taking a few key bits of info. Its quite possibly Ive got all I need to get from Trading in the Zone after todays realisation. When Ive watched some of Peter's videos, sometimes its just one word or one sentence thats sets off a lightbulb moment and answers a question Ive had stuck in my mind. Quite often as well its watching or reading something again a second or third time that I find the answer, but which wasn't relevant to me the first time, but progressing along the trading journey is relevant later on. And so I think things come to you at the right time... as long as you remain curious enough to continue to want the answers.
arbitrage16
Posts: 348
Joined: Tue Feb 14, 2017 7:27 pm

Brovashift wrote:
Fri Sep 09, 2022 3:57 pm
IMO it all comes down to individual self awareness. Each traders journey is different from the next.

Re-reading Trading in the Zone today has already confirmed a thought I had about trying to learn everything about the markets after taking a big unplanned loss, thinking this is what I needed to do to prevent another painful situation like that. When in reality what 'trying to learn everything about the market' did, was not only cause me analysis paralysis, but also turned me from a carefree trader into a loss aversion trader second guessing every trading decision I was making. And sending me down a 2-3 month spiral.
it could take you months, maybe even years to figure out that kind of insight from purely being in the markets.

Books are always a great investment, time and money, for whenever learning is going on.
arbitrage16
Posts: 348
Joined: Tue Feb 14, 2017 7:27 pm

Brovashift wrote:
Fri Sep 09, 2022 3:57 pm
IMO it all comes down to individual self awareness. Each traders journey is different from the next.

Re-reading Trading in the Zone today has already confirmed a thought I had about trying to learn everything about the markets after taking a big unplanned loss, thinking this is what I needed to do to prevent another painful situation like that. When in reality what 'trying to learn everything about the market' did, was not only cause me analysis paralysis, but also turned me from a carefree trader into a loss aversion trader second guessing every trading decision I was making. And sending me down a 2-3 month spiral.

I must admit, I think Im going to be a bit of a fan of Stoicism after using some basic principles yesterday and last night trading the tennis live. By noticing myself when speculating price movement without a trade, and then being aware of myself after placing a back on Swaitek in the 3rd set, racing analytical thoughts and mild anxiety in the chest, by using visualization to calm myself, and repeating to myself that I can only control where I get in and when I chose to close my trade, I cannot control the players... and acknowledging the potential loss and repeating that it cannot hurt me or have any influence on my account, I was able to hold on to the position and thinking clearly after every point about whether I need to close out or continue to hold. Even when it was well into the green and I could hear my inner voice saying "take the green take the green, you'll regret it if Sabalenka pulls it back", even as the green went into double digits (£10 stake), for me thats a good result. But because I visualised and had accepted the possibility of the red, and because Id kept my focus on keeping calm and was thinking clearly, nothing was indicating me to exit, apart from the little panicked voice in my head, so ignored it and held until something changed.
Spoiler Alert!!! Swaitek won and I never had a reason to exit.

Might sound like mumbo jumbo to some, but it worked for me, as all my problems (at present) are psychological. So thanks Kai 👍🏻👍🏻
Do you trim your position when it goes in your favour?
Brovashift
Posts: 367
Joined: Tue May 18, 2021 12:35 am

arbitrage16 wrote:
Fri Sep 09, 2022 7:22 pm
Brovashift wrote:
Fri Sep 09, 2022 3:57 pm
IMO it all comes down to individual self awareness. Each traders journey is different from the next.

Re-reading Trading in the Zone today has already confirmed a thought I had about trying to learn everything about the markets after taking a big unplanned loss, thinking this is what I needed to do to prevent another painful situation like that. When in reality what 'trying to learn everything about the market' did, was not only cause me analysis paralysis, but also turned me from a carefree trader into a loss aversion trader second guessing every trading decision I was making. And sending me down a 2-3 month spiral.

I must admit, I think Im going to be a bit of a fan of Stoicism after using some basic principles yesterday and last night trading the tennis live. By noticing myself when speculating price movement without a trade, and then being aware of myself after placing a back on Swaitek in the 3rd set, racing analytical thoughts and mild anxiety in the chest, by using visualization to calm myself, and repeating to myself that I can only control where I get in and when I chose to close my trade, I cannot control the players... and acknowledging the potential loss and repeating that it cannot hurt me or have any influence on my account, I was able to hold on to the position and thinking clearly after every point about whether I need to close out or continue to hold. Even when it was well into the green and I could hear my inner voice saying "take the green take the green, you'll regret it if Sabalenka pulls it back", even as the green went into double digits (£10 stake), for me thats a good result. But because I visualised and had accepted the possibility of the red, and because Id kept my focus on keeping calm and was thinking clearly, nothing was indicating me to exit, apart from the little panicked voice in my head, so ignored it and held until something changed.
Spoiler Alert!!! Swaitek won and I never had a reason to exit.

Might sound like mumbo jumbo to some, but it worked for me, as all my problems (at present) are psychological. So thanks Kai 👍🏻👍🏻
Do you trim your position when it goes in your favour?
Depends on my stake size, but I do try to scale yes. Sometimes more effectively than others.
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RiderJake
Posts: 3
Joined: Tue Sep 13, 2022 1:36 pm

LeTiss wrote:
Tue Sep 06, 2022 11:35 am
It sounds like you're staking too heavy......you have too much to lose

It's like when you bag a new girlfriend, and you envisage a wonderful relationship with her
You want to make sure the sex is good, so she stays around.....the more you worry about it, the worse the sex will invariably be
If you shag a moose in a one-night stand.....where you don't care how long you last or whether she enjoys it, the sex tends to be great

You need to find that level pal.....where you can shag those markets with freedom
That all comes down to financial management
I have read a lot of good advice in this thread. But this one is the best :)
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