Compulsive Trading Disorder
- Thread starter cap'ncod
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Admitting you have a problem in public is a brave thing to do. You are not alone and the vast majority cannot admit their predicament. The culture we live in demonizes 'failure'. I think the truth is that Financial Gambling, euphemistically called 'Trading', feeds beautifully into this paradigm. It promises that with enough knowledge and the correct mental attitude etc, we can become wealthy, independent and happy. A true narcotic. Trading creates failure. Human's do not. We are capable of achieving wonderful things but the 'hook' of Trading and it's extensive mythology is literally anti-achievement. As we strive in a vain pursuit of extracting money from the markets (which are controlled and driven by those whose aim is literally to take money from the weaker (read retail) players, our constant losses and set-backs set us up for a cycle of failure, frustration, anger and ultimately self-hatred. We're on the hook and are given just enough dope of hope that it's knowledge and self-control that is lacking. If we change platforms; read this or that book, forum, blog etc. Find the secret, the Grail. It never ends and our misery is waiting in the wings while we play with the latest futile idea.
There's no easy solution, 2Steps, and I'm not a psychologist or therepist but I am in the same boat as you and I'd like others to admit their problem even It's the hardest thing to do and they will not be seen as failures under any circumstances as they are so 'close' to building that automated system etc, etc. I've been through all the experiences that most guys on this forum have undergone. Five years ago I was a modestly successful music teacher until the obsession with trading took over my life. I have not played my instrument for years. It just collects dust in the corner of the room. A visible and constant reminder of what I've lost. I hope knowing you're not alone helps.
http://youtu.be/BWIpTdg7tj8
Futures, stocks, FX: it's all the same just like scotch, beer and vodka.
Futures, stocks, FX: it's all the same just like scotch, beer and vodka.
Indeed, if you are not centered this ain't the job for you. It is a job btw, and there will come a day when you are making money, but you just don't feel like going to work that day.
The glamour attached to trading comes from the paycheck, not necessarily the job.
My point (I'm not trolling the TBone) is that it's a cultural addiction, It's not a 'job' or 'business'. It's a wider issue than dopamine and substance addiction. As long as we call it a 'job' and a 'business' it makes it a rational and constructive pursuit, which we all know it's not. It is a belief in a myth which is backed by huge money to deceive us into thinking if we work hard and find the right recipe we can be 'winners'. We can be wealthy and be part of the chosen few. Boneo calls me a 'drunk', perhaps he's not far off and I would suggest most people on this site are 'drunk' on dreams. Our ego's demand things which trading could fulfill. Problem is truth gets in the way and the concrete reality of being outgunned by huge resources. If Bone was successful he wouldn't have to peddle a 'system' and this goes for the innumerable others that make money in the industry from selling the idea, not employing it. To make money in the 'Trading' industry you can:
Set up a Brokerage
Sell a 'strategy', concept, system etc.
Set up a website for the multitude of aspirents
Become a psychological 'coach'
Write a book
Join a bank (trade huge sums without immediate risk to your own life)
Many of the above are deluded and victims themselves, some are just plain liars. Such is the nature of money and the pursuit of it.
How did emg get on Fox? Oh, that's right I forgot they let any dog lose on there.
Floor Brokers have been cheating customers way before HFT. Look at the NFA sanction pages. Multi-million dollar fines and sanctions from thirty years ago - and beyond. IMO, Floor Brokers are far more prone to cheat - because they have a captive pool of clients completely reliant upon them for execution, and major exchanges promote 'dual trading' ( floor brokers being able to fill customer orders while being able to trade for their own accounts as well ) under the canard of providing liquidity.
I have a TT X Trader Pro screen up as we speak. I currently have eight open spread positions and have accounts at multiple FCMs. Care to place a wager otherwise ? I talk about my open positions and my entries multiple times each day with my clients using live webinars. I am sure if this was not true, one of the 100 clients who are also ET Members would say otherwise.
Be a happy drunk, not a mean drunk. Might work better for you.