by @fxkiller
Rus version:
Dopamine is the most important hormone and neurotransmitter. I won't tell you what it is; I think many people know what it is, but haven't given it much thought. It has a big role in our business.
I noticed long ago on myself that when I do a certain ritual before a trading session, be it a cold shower, a walk in the woods, physical activity, etc. I am focused on a certain trading result. I realize that I feel great and am determined to work productively and be rewarded with profitable trades. Man is an animal. All the processes which were there 1000 and 10.000 years ago are laid down and work every day. We are motivated to do something to get reward and satisfaction. In our example it is: passing a challange, getting paid, getting attention and respect from other people, etc. It used to be in the form of getting prey, heat, breeding, etc. These are natural mechanisms. When we get some kind of reward, the dopamine level in our body increases, but not for long. It usually goes down after 30-40 minutes. The brain remembers this action and asks us to do it again and again. In today's world, the dopamine system is shot down by things like social networking, delicious food, and any other source of quick dopamine. Roughly speaking, we are all dopamine junkies. But that's a whole other issue.
Now let's move on to profitable trades. Accordingly it is exactly the same with them. Suppose we have a good idea on the chart that has a large win rate. We are expecting to get that profit and satisfaction, but what happens when the price leaves based on the stop loss? Naturally, our dopamine levels drop and so we get frustrated. But when a trade leaves on the takeaway, the brain remembers this feeling and asks to repeat it in the future as I wrote above. When the price does not show a good situation on the chart for a very long time, we get so-called "trading hunger" and start doing bad sets. That's why trading is so complicated, this work is just contrary to animal behavior that was laid down for us tens of thousands of years ago. So few people are successful here, because few people can change their behavioral patterns and master themselves completely. It is not for everyone. Especially when the most sought-after desire of modern mankind - money - is at stake.
So, the great joy of the profitable trade should be avoided, just like the great frustration of the stop. It's all just part of the job. And here's the benefit of having fewer trades. There's just less disruption to your dopamine system. One or two trades a week is must have. But it's not that easy to do. Below are some recommendations.
The first one is that you just have to not have high expectations of the trading week, day, month, etc. I don't know how to describe it or how to have that state, but you have to learn to just be focused on your perfection. Of course, this is where discipline already comes into play: working out, walking outdoors, getting a good night's sleep, getting enough real sunshine in the morning, eating, etc. That's why trading is a lifestyle. Every time I can follow it and feel this state, I close the trading week or month in profit. When there are some failures I get bad results in trading.
But what I've experienced and what I can say from my own experience. It's like a battery or a smartphone which you need to charge and reload from time to time. Even when reaching that cool state I mentioned above and being in it long enough, there is some kind of disruption. Let's say I get the feeling that I'm doing everything right, I'm disciplined and everything like that, but I don't have a reward for a long time and because of that I lose motivation. It's like in the morning I get up on schedule and I have a question in my head - why and for what I'm doing this. It is clear that in the long term we all know what we are striving for, but in the moment there is no motivation and there is no source. Now a lot of people will think that "discipline >> motivation" and all that sort of thing. But once again, human beings are special animals, with emotions taking over and controlling us from time to time. We are not robots and even the most disciplined can have some problems.
So what to do and what are the recommendations?
To learn to enjoy every little thing, walk in the woods, etc. Enjoy the journey, not just the reward. Develop healthy habits from which you will get pleasure, as people get pleasure from bad habits (smoking, etc.) Let's say, running in the morning. Probably few people knew, but after you run on some regular basis, you will get the happiness hormone endorphin. And there are many options, let's say there's also meditation. Likewise, when people do it on some regular basis and develop a habit, then they can't go without it afterwards.
Dopamine detox. Try for 7 days to limit yourself from some common actions and habits. Let's say, screen time on the phone 1 hour a day, don't eat any sweets, etc. On this subject there is also a video on YouTube, you can watch. This is done just so that after this you will start to enjoy ordinary things more and it will, so to speak, reset you.
A break from work, a change of scenery. It's all individual and according to everyone's abilities.
I also recommend watching the famous Dr. Huberman:
Controlling Your Dopamine For Motivation, Focus & Satisfaction | Huberman Lab Podcast #39
It all mindset.