totally spot on. that gotta be one of the primary causes for failure. many friends of mine were held back and never accomplished squat...some of them were very ambitious. sad but true, and those dragging you back may think it is for your own good. u have to cut ties immediately from this kinda influence.
Do you have the 'make money' gene? How about the 'keep the money'?
- Thread starter Optionpro007
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totally spot on. that gotta be one of the primary causes for failure. many friends of mine were held back and never accomplished squat...some of them were very ambitious. sad but true, and those dragging you back may think it is for your own good. u have to cut ties immediately from this kinda influence.
Kudos to you for taking CONTROL of your life
As an anecdotal aside, do you know actor/comedian Georges Burns died at the ripe old age of 100, despite a life-long chain-smoking habit ? While some (much) younger pple who have never touched a cigarette in their life have died of a diagnosed second-hand smoke induced cancer?
Makes one wonder sometime, doesn't it?
Doesnt make me wonder...
But then, I believe the bible and certain prophecies in it, so I am not surprised Burns died at 100 after smoking the majority of his life, and not sooner.
My Father is the most vile and despicable man on earth. He is 15 years older than my mother and will outlive her...
Doesn't make me wonder at all.
But then, I believe the bible and certain prophecies in it, so I am not surprised Burns died at 100 after smoking the majority of his life, and not sooner.
My Father is the most vile and despicable man on earth. He is 15 years older than my mother and will outlive her...
Doesn't make me wonder at all.
ALL the successful people I know, love, and work hard at what they do. End of story.
The original "gene terminology" is ludicrous.
People who make a lot of money can be termed as entrepreneurs or businessmen.
Anyone can be a mediocre businessman...
But all real talent is genetic...
So very successful entrepreneurs are Born... not Taught.
And it's the right combination of 100s of genes.
I know someone very well who went from ZERO to Billionaire.
This person is the only one in his family that did not go to university.
People who make a lot of money can be termed as entrepreneurs or businessmen.
Anyone can be a mediocre businessman...
But all real talent is genetic...
So very successful entrepreneurs are Born... not Taught.
And it's the right combination of 100s of genes.
I know someone very well who went from ZERO to Billionaire.
This person is the only one in his family that did not go to university.
Several traders I worked with constantly wondered what type of person makes a good trader when they were looking to hire new people for the floor. They never found a definitive answer. Having watched hundreds of traders succeed and fail it becomes rather easy to tell who has "it" and who does not after watching them trade for a short time.
Many unsuccessful traders try for years to fix themselves and just keep ending up in the same place, but there were a few who did turn things around and make a good living. So successful trading (and successful retention of earnings) can be learned, but it is not easy. Most books say the same simple things: have a specific plan, stick to good risk management, and don't get emotional. Most all traders say they do these things, but those who end up failing usually didn't. Do you have a trading plan or just wing it? If you do, shouldn't you have a plan to alter this behavior you postulate is genetically related?
As to the original question: "Can genes be altered perpetually? Will I or anyone else with the same issue be able to keep all the money made, or will our subconscious always find a way to give it back?"
It is "ludicrous" to state that the issue is genetic or not since there is not enough empirical evidence either way, but I can tell you, statistically speaking, that since you have recognized your repeated problem you are definitely predisposed to it and will continue to be. It can be changed with hard work and discipline. You should research behavior modification, e.g. "Learn to fish and you'll never be hungry" by Robert Epstein. It sounds a little silly but it has been shown to work. For those not familiar with this it is based on Skinner's behaviorism, which states there is no Freudian subconscious and you can alter your behavior.
You need a better plan than asking a message board (that seems to be predominately populated, as I see it in my short time here, by not very successful traders) to answer the age old nature vs. nurture question.
Many unsuccessful traders try for years to fix themselves and just keep ending up in the same place, but there were a few who did turn things around and make a good living. So successful trading (and successful retention of earnings) can be learned, but it is not easy. Most books say the same simple things: have a specific plan, stick to good risk management, and don't get emotional. Most all traders say they do these things, but those who end up failing usually didn't. Do you have a trading plan or just wing it? If you do, shouldn't you have a plan to alter this behavior you postulate is genetically related?
As to the original question: "Can genes be altered perpetually? Will I or anyone else with the same issue be able to keep all the money made, or will our subconscious always find a way to give it back?"
It is "ludicrous" to state that the issue is genetic or not since there is not enough empirical evidence either way, but I can tell you, statistically speaking, that since you have recognized your repeated problem you are definitely predisposed to it and will continue to be. It can be changed with hard work and discipline. You should research behavior modification, e.g. "Learn to fish and you'll never be hungry" by Robert Epstein. It sounds a little silly but it has been shown to work. For those not familiar with this it is based on Skinner's behaviorism, which states there is no Freudian subconscious and you can alter your behavior.
You need a better plan than asking a message board (that seems to be predominately populated, as I see it in my short time here, by not very successful traders) to answer the age old nature vs. nurture question.
Yes, but this is highly based on luck. The intelligence & work ethic go only so far, the other pieces have to fit. Although the right situation you can always search out, if you have a knack for identifying opportunities. But the right people part, well, just don't get me started. Can take years.
Thanks for your very candid response opt789.
I am not sure where to start. One thing I can ask you to do with your head is to give it an opportunity to breath fresh air once in a while. I am sure it would do you a lot of good.
Since a great majority of traders lose money in the long run I find it difficult to believe you expect most traders in this board to be profitable. One of the reasons for this thread is to show traders who have been doing this for while who have not yet achieved consistency, that changing instruments, time frames, having better software or hardware or reading more books might not the answer. That the answer resides in their psyche.
It takes most traders years of hard work to make it. That you can tell who has "it" and who doesn't "after watching them trade for a short time" is really a gift from God. Congratulations.
I can't remember stating in my original post that behavior can't be changed, but thanks for the "silly" book tip.
Perhaps I am a child from the 80's... I was taught you CREATE your own destiny....
And I have followed that advice most of my life....
Lack or Luck...
If you have a definite HATRED of Lack you'll Learn how to be successful...
Some people complain about lack, but the minute they get anything, they blow it and head right on down Lack Road.....