Quote from CoolTraderDude:
Buddy that doesn't mean anything solid... Notice how the answer to the question is always vague...!?
SELF CONFIDENCE... So this means what exactly...?
Buy or sell...? When do I get in...? When do I get out...?
That's what you have to answer to make money... Get it right, you make money... Get it wrong, you lose money. Hard solid edges make it much easier for you to earn a living without guessing.
Trust me if emotions get in your way so much then get a lobotomy. All emotional problems solved.
It ain't about emotions... it's about getting it right.
The real problem here is coming up with a trading method that isn't gambling once you do the statistical analysis... There really aren't any out there that aren't subjective. This is why traders lose... Every subjective method quits on you whenever it feels like it. Instead of facing facts traders blame psychology or emotions. Sorry... It's the truth!
This is a negative sum game... How are you going to get a constant edge over that...?
I haven't been able to answer the question with a solid answer so I quit trading.
You made a good decision.
There are a lot of trading methods. In time you may notice there are traders who face the losers in what you imagine as a negative sum game.
The basis and criteria for your decision are erroneous, however.
I am so risk adverse that I cannot tolerate any subjectivity in my trading.
Among the many trading methods, it is possible to have a method that has no subjectivity. Usually it is not possible to introduce this consideration in a discussion of winning trading methods.
Just above is a story from a media source that brings up "fixing" employees who work for corporations that are continuing to trade in the financial industry. Coaching is mentioned.
Of note, it is mentioned that an ex trader has begun to work in neuroscience.
My first job offer in that field occurred after I had been trading for a decade; there was no known connection between the two personal events by the offerer.
Today, I can say that my wiring has not changed for 54 years.
Consider, how a system is built to do a job.
Two pleasant examples are:
1. polynesian skippers, and
2. Swiss watch makers.
A system of trading is the same. By looking at the winners and losers who make up the whole of trading; you find out how many Q'a have to be asked to understand the reason for the ratio.
Each question, in order, must eliminate the most of the whole.
By constructing the system of losers and winners, you also construct the winning systems of trading.
Reading what I write here in this post, gives you a momentary experience of one universe that is connected by intellectual thought over the life of human culture.
I thought the same things while shaking the hand of Adm. Byrd as I did when I shook the hand of Lucky Lindy.
At every fork in the road, you make a choice.
To build a foundation and the building blocks of a trading system, you have to make the correct choice at each fork in the road.
You do not need a map.
The Mind has everthing in it to give you the solutiion. The Mind does not process any negatives.
The image in the Mind of "Don't fall down on the ice." Is what the Mind processes. If you are looking at crossing ice, you path is to "walk carefully on the ice."
I took the trip of completing a trading system that takes the full offer of the markets. As I sat for three days in training in mid SEP, I found I was the only one who had made the trip.
Here is how a trading system works that takes the full offr of the market:
1. Enter (using 94% of capital) within 12 to 30 seconds of the first 5-minute bar of RTH.
2. Hold through the entire profit trend segment on the chosen trading fractal (the fractal between a faster and a slower fractal).
3. reverse at the end of the profit segment.
4. repeat steps 2 and 3 as required.
5. Exit just before the end of the bar where the day margin changes to nite margin.