Not quite. People who were so addicted to winning that they took the pnl personally.
fomo dopamine addiction culture
- Thread starter mute9003
- Start date
Not quite. People who were so addicted to winning that they took the pnl personally.
All any trader can have is A: An Edge and B: The disciplines to trade it. The late Mark Douglas hit the nail on the head when he said the successful trader is invested in the Process of trading rather than the Results of any given trade or series of trades.
You have to get to the point where you don't give a shit whether the trade you are in results in a win or a loss because it doesn't matter. Manage the Process of trading and the results will be there. Do this and there won't be any emotional upheaval about trading and it becomes seamless and enjoyable, easier said than done but essential IMO. Good habits like bad habits are formed through repetition.
You have to get to the point where you don't give a shit whether the trade you are in results in a win or a loss because it doesn't matter. Manage the Process of trading and the results will be there. Do this and there won't be any emotional upheaval about trading and it becomes seamless and enjoyable, easier said than done but essential IMO. Good habits like bad habits are formed through repetition.
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FOMO...fear of missing out,
Humans can be such...humans. And essentially 99.3% of them can certainly be brain dead, and unoriginal.
If people see's everyone joining a march rally, they feel compelled to join.
If people see's a political event or voting sessions....they feel compelled to join, pick a side, root and vote.
If people see's everyone watching a Championship game...they too, will watch it.
If everyone see's everyone shopping....they too feel compelled to shop.
Just because a wave, or river movement, is happening....that doesn't necessarily mean it's right, proper and good though.
As with trading...you have to develop your own process, understanding, observation and philosophies.
In trading...it pays to be the black sheep, not a white one. Develop your own religion, spirituality, and backbone....or you will constantly be falling for everyone else's.
Humans can be such...humans. And essentially 99.3% of them can certainly be brain dead, and unoriginal.
If people see's everyone joining a march rally, they feel compelled to join.
If people see's a political event or voting sessions....they feel compelled to join, pick a side, root and vote.
If people see's everyone watching a Championship game...they too, will watch it.
If everyone see's everyone shopping....they too feel compelled to shop.
Just because a wave, or river movement, is happening....that doesn't necessarily mean it's right, proper and good though.
As with trading...you have to develop your own process, understanding, observation and philosophies.
In trading...it pays to be the black sheep, not a white one. Develop your own religion, spirituality, and backbone....or you will constantly be falling for everyone else's.
I think it is more pervasive that most people think. Many people live on "agitation". They do not feel correct or feel right unless there is drama in their lives. They live on an emotional treadmill.
From a TCM (Chinese medicine) standpoint, drama (FOMO, YOLO, et al) helps squeeze out adrenaline, and "create" energy (chi). But it is all short term, like an "energy" drink. In the medium and longer term, it simply drains the kidney energy (deep energy) until the body-mind are out of balance. Also, after age 30, energy starts to dissipate, so what worked at 25 is a killer at 40 or 45.
There is that saying that "trading should be boring", just another task. No need to get all riled up about it or put your sense of self worth into making a call or into the P/L.
Easy to say, harder to practice, and in the end, all there really is practice and doing.
From a TCM (Chinese medicine) standpoint, drama (FOMO, YOLO, et al) helps squeeze out adrenaline, and "create" energy (chi). But it is all short term, like an "energy" drink. In the medium and longer term, it simply drains the kidney energy (deep energy) until the body-mind are out of balance. Also, after age 30, energy starts to dissipate, so what worked at 25 is a killer at 40 or 45.
There is that saying that "trading should be boring", just another task. No need to get all riled up about it or put your sense of self worth into making a call or into the P/L.
Easy to say, harder to practice, and in the end, all there really is practice and doing.
Fuck that. Be the tao
Yes the market is some sort of manipulated. You notice when daytrading around an important level and it runs away from it (which most likely starts a trend) price behaves slugish. It brutally fires back every few ticks so if you are in and amassing profits, you are always worried the trend might end. If you are a pro, you know that small retracements have to be expected, before a big one appears which may be a sign the trend had ended, but if you are an amateur - even few tick small retracements scare you out of the trade, only to watch it becoming a trend that lasts for hours, sometimes days.