Recent content by FB123

As another example that might help to illustrate this point, let's look at what happens when an addict goes to an intervention: When an addict is confronted in an intervention, the family and the interventionist have only one goal in that meeting: to get the addict to agree to go to rehab...

Fear and anxiety are caused by the lack of a plan, and lack of preparation. I am sure that you prepared yourself for dealing with circumstances that would arise when you took trades according to your plan, but what you did NOT do is prepare for a circumstance when you would be deviating from...

Well, first of all, let me be clear here: While I have done this little exercise a few times myself, the truth is that I never had to struggle with this problem nearly as much as you or some others do. There were times earlier in my career where I traded in an emotional state and lost money...

That's another good point... poker and trading are very related, in that both require a lot of patience and emotional self-awareness, as well as the ability to read other people. In poker it's personally reading another individual, in trading it's reading the collective emotions that you are...

Thanks... one more thing I will add, for those that are trying to learn how to do control themselves properly: Take a look at Tiger Woods. The reason that Tiger is the #1 player in golf is not because he is more skilled than the other players, or because he can hit shots that they can't...

You are missing one key thing that you need to be a successful trader. I wrote about it in another thread, but I'll state it here again. What you need, and what you lack, is a "shut off switch". You need an internal mechanism that makes you STOP TRADING when you are screwing up. It is amazing...

Yes, and this is what I have been saying since the beginning. Some people have actually been defending GS as an honest model of free enterprise, when in fact it is anything but.

Well, like most people I have read a lot of books... some were crap, some were just too basic and simple, and some contained a nugget of information here or there that was unique, but it was buried amongst the noise. From a trading perspective, I would say that the most useful book I have...

If you really have been at this for a long time and still aren't capable of doing it, then maybe trading is not for you. The idea that somehow you should just keep working at something until you succeed is ludicrous. People are suited to different things, and part of self-intelligence is...

I don't disagree with the notion that western society affords people the ability to rise above their station through hard work and talent, and that this is good. But at the highest levels, this principle does not apply. Once you get past a certain point, it is not about merit or how hard you...

I never said that Goldman would have gone down if AIG went down, I said if the government hadn't stepped in and shored up the whole system after Lehman failed then Goldman probably would have gone down too. In any case if you actually believe that load of crap about unbridled greed being good...

I don't think that the "just trade" mantra means that you necessarily support GS or what they are doing. It's just that it is completely impossible to do anything about it, so worrying about it is a waste of time. The most rational thing to do is to just understand what is going on, accept...

The only way you can - by reading the chart. :) Well, most seconds anyways. It is useful to know that the game is rigged and to be able to anticipate what the manipulators have in mind, so you can profit from it. Other than that, it's pretty useless to dwell on this stuff or get angry that...

I agree. Books and other educational resources are great for teaching you general trading principles and you do need to learn that stuff, but your own method and edge has to be personally developed to suit you. What a lot of people are looking for is an off-the-shelf method that they can just...

You're not getting it. There is no "government", and no "Goldman Sachs". They are two halves of the SAME entity. Goldman Sachs and other firms like them ARE the government. It just looks otherwise because we have a sham of an election every few years. If our elected officials actually...