Mind set in executing an order successfully?

Discussions about personal psychology for the individual trader.
Post Reply
oem7110
Roundtable Knight
Roundtable Knight
Posts: 390
Joined: Wed Jul 12, 2006 9:33 pm

Mind set in executing an order successfully?

Post by oem7110 »

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
Senior Member
Senior Member
Posts: 29
Joined: Mon Dec 13, 2004 10:43 pm

Post by nzbryant »

When entering orders, think "accuracy". I.e. accurate as per your written and robustly tested system.
Kiwi
Roundtable Knight
Roundtable Knight
Posts: 513
Joined: Wed Apr 16, 2003 1:18 am
Location: Nowhere near

Post by Kiwi »

Separate your jobs.
RedRock
Roundtable Knight
Roundtable Knight
Posts: 944
Joined: Fri Jan 30, 2004 3:54 pm
Location: Arizona

Post by RedRock »

Kiwi wrote:Separate your jobs.
Exactly.

The technicians who launch a rocket are not the same folks who engineered the rocket.
Paul King
Roundtable Knight
Roundtable Knight
Posts: 207
Joined: Mon Feb 23, 2004 9:13 am
Location: Vermont, USA
Contact:

Post by Paul King »

"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
Roundtable Fellow
Roundtable Fellow
Posts: 74
Joined: Thu Jul 03, 2008 6:35 am
Location: Surrey, UK
Contact:

Post by J D Canning »

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
Roundtable Knight
Roundtable Knight
Posts: 944
Joined: Fri Jan 30, 2004 3:54 pm
Location: Arizona

Post by RedRock »

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.
Post Reply