Facing our demons

Quote from Cutten:



There are two ways I've considered. One, trying to somehow get a link between long-term consequences and my short-term motivations. The other, is just to hire someone my exact opposite and pay them to work on those areas. The trouble is that I know no one who is into the markets and has that skillset. So, I just try to slowly improve on that weak spot, and thank my lucky stars that I have some strenghts in other areas to offset that glaring weakness.

Perhaps you should just let it all go. Give it a break. It sounds like financially you are fine.

I believe we create our own reality with our thoughts, if this is true than to change our reality we have to change our thoughts.

The easy part is figuring out what to do the hard part is doing it, it takes constant monitoring of thoughts and adjustments' when neccesary to achieve our desired goal.

How to create the desire for change? Thats the question.

One way to get a feel for what is important to you is to release whatever you are struggling with. In other words give yourself permission, freedom whatever you want to call it, to basically forget about whatever it is you are trying to change.

For example, say you want to start eating better, assuming this is something that you have wanted to change for awhile play devil's advocate. Question why is it important to eat better, will you die next week, will the world stop functioning? Just give it some space and take notice of your thoughts.

Speaking of which my thoughts are telling me I am tired and need to go to bed.

next time,

Bruce
 
Cutten,
Maybe change over to only trading fx. Perhaps your missing a challenge that pushes you to the limit (as fx does), and your creative adjustment to such a challenge is missing. Probably you know too much in the field your in now (=boredom), and you need to rediscover those early days when you first started trading (although now you are doing it from a loftier perspective). If you get it right and you find top form (and you compound) - you will be on the Forbes list a year or two from now. Surely enough to motivate you, right?
Otherwise, don the saffron robes and go and meditate under a tree for a while.
 
I am working on my trading issue, in three ways. I have someone who I chat with during the day and they have me post check lists regularly and what I'm looking to trade and gives me feedback if it seems I am getting off my game. Then, I am back to meditating and doing a simple exercise routine. Mostly, I need to stay focused on finding really nice stocks to trade and wait for decent market conditions. At some point I find if I focus too much on my mentality and performance, it's really counterproductive.
 
A trading demon is a part of our subconscious mind that tells us it's not totally convinced our trading set ups are as strong as we want to believe they are.

I think it's our minds way of warning us it knows that at least part of the key is missing. Peace comes when we discover how to sharpen our skills until our trading demon is convinced.

If those skills are not sharp enough then we have to find ways to shut the demon up - I don't think that's the best idea.
 
2001 - 2002 = -12k daytrading, -3k gross...scalping

2002 - 2003 = -70k daily time frame, averaged down size into a big loser. what an idiot...no method...the worse I have ever felt about myself. But I did take something away from this year. haven't added to a loser since...not once single time.

2004 - 2005 = -5k buying options, attempted daytrading futs, actually made money in common stocks that year. But only 250.00. Was all over the board, day trading, swing trading...no method

2005 - 2006 = +500.00 swing trading daily charts, only traded about 30 times all year

2006 - 2007 = down 1k so far swing trading, triple volume from last year. 930.00 are commissions. I have stopped for the year. Just have open position that are profitable so I may squeak this one out green.


After 04-05 I realized I needed to stop the bleeding if I were to make it over the long term. My previous mindest was get rich quick..we know how that one ends.

Trading is starting to click for me. But I had no idea it would take this long. Maybe i`m hard headed. Is 5 years a long time to lose money? Maybe, maybe not. One thing I know for sure. Short time frames and me do not mesh. I have a plan for 2007 and it involves less trading, bigger swings.
 
Quote from acronym:

Jeepers, your an anthony robbins disciple:)

Well, based on what Ive read here so far, im screwed.
The bonus is, already knew that.......

NEVER say die!!!!!

Tony Robbins, the dude with the extremely large chin. :D I never met the man, but I did have some one on ones with his east coast partner. Bob used to coach many athletes as well. I must admit, I did pick up a few things that helped. Of course along the path to overcoming our demons, we use whatever helps if it helps. Shit, I'd howl at the moon butt naked if it improves my trading.

One concept Bob spoke about was NLP - Neuro Linguistic Programming I think. The phrase is a too pschyo-babble for me, but I liked the concept and it has helped. It boils down to re-programming ourselves. "F-disk" for you mr. softee geeks. Reformat and start over.

That's a good transition to the next concept.

"Whatever it takes."
I'm not sure if this is a Robbins phrase or some other but anyway, it means the subject must be willing to whatever it takes in order to overcome their demons. No matter how hard, silly, illogical and so on. Bottom line is the trader must see that the rewards of overcoming their demons is well worth the initial uncomfort of behavior modification. It's like a strung out junkie going through withdrawl. It hurts like hell at first, but it gets easier as the body and mind start to reap the benefits of taming your demons.

Translation: You'll be happier because your trading will improve.

In the end, we pick up info along the paths we have chosen. I'm always open to new ideas and especially old ones. :)
 
Quote from TheDecider:

2001 - 2002 = -12k daytrading, -3k gross...scalping

2002 - 2003 = -70k daily time frame, averaged down size into a big loser. what an idiot...no method...the worse I have ever felt about myself. But I did take something away from this year. haven't added to a loser since...not once single time.

2004 - 2005 = -5k buying options, attempted daytrading futs, actually made money in common stocks that year. But only 250.00. Was all over the board, day trading, swing trading...no method



Ouch:eek: :eek: :eek:
 
Quote from Old School:



One concept Bob spoke about was NLP - Neuro Linguistic Programming I think. The phrase is a too pschyo-babble for me, but I liked the concept and it has helped. It boils down to re-programming ourselves. "F-disk" for you mr. softee geeks. Reformat and start over.

I did some NLP stuff a few years ago. I thought it was helpful. It basically boils down to positive thinking and doing away with negative attitudes, thoughts, concepts, and even speech. Just think how negative all of those things combined can become. If you've never though about it, just try to focus on it next time your driving. :)
Regards,
J.C.
 
Quote from jcmonger:

Quote from Old School:

I did some NLP stuff a few years ago. I thought it was helpful. It basically boils down to positive thinking and doing away with negative attitudes, thoughts, concepts, and even speech. Just think how negative all of those things combined can become. If you've never though about it, just try to focus on it next time your driving. :)
Regards,
J.C.

Better yet, just give up unnecessary driving to avoid the frustration.

What many traders and many people in general just forget is that keeping things simple as well as controlling the things that you can control are two of the easiest and most essential ways to become successful in whatever one chooses to do.

In another life I was a successful salesperson and one of the few principles that I learned from all the training that I encountered those 12 or so years were:

1.) 75% of the challenges (many call them problems/difficulties) encountered in life are totally out of my control. Pretty depressing if you dwell upon that........ DON'T! Dwell on controlling and striving to better the 25% that is under your TOTAL CONTROL! In other words don't worry about stuff that you can't ever affect. Needless worrying only causes stress and stress build-up amounts to negative effects (nothing good can come from lots of uncontrolled stress).

2.) Beating your head against a wall only leads to headaches, and ultimately death. In all that sales mambo - jumbo, Zig Ziggler world there is one thing that stuck with me, and a very sage sales/management trainer shared it with me; the definition of insanity is doing the same thing over and over again and expecting different results each time. Mastering point one is essential to overcoming this vicious cycle it is easy to trap the self into.

3.) To thy own self be true! This is one of my personal favorites and probably the most essential. Be honest with others, integrity matters, but most importantly be open, true and honest with yourself. If you have fallen victim to sloth, addiction, dishonesty, etc..... admit it and deal with it. Personal responsibility dovetails right in with this key principle. It is much easier to accept FULL AND UNCONDITIONAL RESPONSIBILITY for one's own actions if you are being honest with yourself first. Critical point! The ability to compete is significantly diminished in those that are crippled by themselves.

4.) Last, but not least, the KISS principle...... KEEP IT SIMPLE STUPID! One of the things that I realize more and more the further I progress in life is realization of just how little one person, no matter how intelligent they are, really knows. Keeping things streamlined and simple is a critical concept in mastery of any discipline. Doctors have a saying in the first year of med. school that goes like this, "If you hear hoof beats coming your way, don't go looking for a herd of zebra's!". Research the principle behind Occam's Razor as well.

About 3-4 years ago I had the privlidge to meet Ben Stein. I listened to him speak on a local college's lecture circuit, one of the things I'll never forget him saying is that if you want to make it big you have to go big (the Go Big or Go Home principle). The very next thing he said is to take advantage of opportunity, but with that always uphold the responsibilities to yourself, family and loved ones. Negativity is catchy, don't hang with negative people. I know from my own personal experience that decreasing time with those that tell you things can't be done, or those that are too scared to "do" or "risk" for themselves is not a way to success.

Lastly, Man in the Arena about sums it up.....
"It is not the critic who counts: not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself for a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat."

- Theodore Roosevelt

There are no monuments built honoring the critics, just the doers!
 
i'll adress the elephant in the room here

for many people, they will either lose by a thousand cuts with stops, or by one fell swoop of a wrong unstopped trade

and THAT'S the demon they cant face

that they will lose either way, whether they use stops or not

and that's why they cant stick with them

the denial of this fact, is the demon many here cant face

much of the 'wisdom' on this site is just a circle jerk of denial
 
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