Breaking through the threshold of consistency

Quote from Lois Price:

Basically, i was down to my last. Ive been giving this a go for 6 years, but it took for me to get right down to nothing. I took on debt to feed my habit of trading...the "tuition" i told everyone and believed it. Got laid-off....no income at all...just scared money left, telling myself saying 'this is it , you better trade for living now more than ever....' , no concrete system tested, poor money management, down to where I couldnt buy another NQ contract.
Well, it seems it may have been the best thing to happen, because I realized i needed to get serious, I couldnt afford ANYMORE mistakes, none.
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except for a few grand and a new car to sell, i'm there now.
 
Gordon, you're pissed but obviously you're not pissed enough, if you still have your sense of humor and can write a poem about it. The day you'll be really pissed and really needing money you'll immediately learn to pick the right trades. I am sure there must be in one whole day 1 trade you feel more confident about than the others. And I am sure you don't just make the trade you're the most confident about, but all the other ones as well. Right? Can't you see? You don't want to win. You don't want to make money. You just want to play the game. I know you've already lost a lot of money, but it's still not enough to make you really crave money. When you will be really worried, you'll learn very quickly to stay flat and just watch the markets for many hours, before making a trade.

Jack Schwager asked Ed Seykota, Don't all traders want to win?

"Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.

I know one trader who seems to get in near the start of every substantial bull move and works his $10 thousand up to about a quarter of a million in a couple of months. Then he changes his personality and loses it all back again. This process repeats like clockwork. Once I traded with him, but got out when his personality changed. I doubled my money, while he wiped out as usual. I told him what I was doing, and even paid him a management fee. He just couldn't help himself. I don't think he can do it any differently. He wouldn't want to. He gets a lot of excitement, he gets to be a martyr, he gets sympathy from his friends, and he gets to be the center of attention. Also, possibly, he may be more comfortable relating to people if he is on their financial plane. On some level, I think he is really getting what he wants.

I think that if people look deeply enough into their trading patterns, they find that, on balance, including all their goals, they are really getting what they want, even though they may not understand it or want to admit it."
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Quote from Lois Price:

...Basically, i was down to my last...
...No concrete system tested, poor money management, down to where I couldnt buy another NQ contract.
...I realized i needed to get serious, I couldnt afford ANYMORE mistakes, none.
...I was brutally honest in my papertrading because i would only be betraying myself.
...I was able to wait for that perfect setup, all day if need be because I had no money to overtrade with out of boredom.
...I did that for a whole month...never had a losing day...some losing trades...but not one losing day, yet.
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That is my story there !
Quote from Corallus:

I will sometimes go for days without taking any trades, waiting for the right time to strike.
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One of my recent discovery. It took some time...
 
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