Mind set in executing an order successfully?

Discussions about personal psychology for the individual trader.
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oem7110
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Mind set in executing an order successfully?

Post by oem7110 » Thu Apr 02, 2009 3:55 am

Does anyone have any suggestions on what kind of mind set you need in executing an order successfully? When people analysis too much, they cannot execute any order, thinking too much is the barrier on execution during trading.
Does anyone have any suggestions on what you have in mind if you are an execellent trader in executing an order during trading? Any magic words will make me feel good on execution with a clear mind set?
Thanks in advance for any suggestions
Eric

nzbryant
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Post by nzbryant » Thu Apr 02, 2009 4:49 am

When entering orders, think "accuracy". I.e. accurate as per your written and robustly tested system.

Kiwi
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Post by Kiwi » Thu Apr 02, 2009 6:43 am

Separate your jobs.

RedRock
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Post by RedRock » Thu Apr 02, 2009 10:16 am

Kiwi wrote:Separate your jobs.
Exactly.

The technicians who launch a rocket are not the same folks who engineered the rocket.

Paul King
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Post by Paul King » Thu Apr 02, 2009 11:15 am

"thinking too much is the barrier on execution during trading"

There should be no "thinking" involved during execution of a trade. Your method has dictated what to buy/sell, when to buy/sell it, what price to buy/sell it at, how much to buy/sell, when to add to a position, when to exit a position.

Execution is simply implementation of your trading plan. As previously mentioned the important aspect is doing exactly what your plan dictates - no more, no less, no thinking, no analysis, no procrastination, no worrying; just well-defined, pre-determined, accurate, action.

Hope this helps

Paul

J D Canning
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Post by J D Canning » Thu Apr 02, 2009 11:45 am

As I see it, assuming you are trading a 100% mechanical system, there should be no need for trade execution other than placing orders with a broker thereby removing the emotional aspect from the equation. In the ideal world, even order generation would be fully automatic, and one could leave the system well alone apart from periodic checking of account equity.

RedRock
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Post by RedRock » Thu Apr 02, 2009 12:41 pm

J D Canning wrote: In the ideal world, even order generation would be fully automatic, and one could leave the system well alone apart from periodic checking of account equity.
Robo-broker

Not ideal for everyone though... One size does not fit all.

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