I am happy to hear that the market is your friend. It just loves giving you gifts. Count your blessings if you are telling the truth. surf
Have you used dbphoenix's teachings to become a successful trader?
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I am happy to hear that the market is your friend. It just loves giving you gifts. Count your blessings if you are telling the truth. surf
The market's function is to facilitate trade. It is not sentient.
Small distinction: this was in the context of Larry Phillips describing poker psychology, though. Obviously the other players want everyone's money as much as you want theirs, and brokers and exchanges want volume to get their frictional fees in the middle, but that's not necessarily the most useful way of seeing the market from a small participant's perspective.
The proper emotional model for retail traders approaching the market, however, is that participation is anonymous and never mandatory. To that extent, it's entirely valid to simplify by saying that the market doesn't care where we placed our tiny stop: if we get hit it's nothing personal, we were stopped out along with a boatload of other suckers and were not a specific target. If we allow ourselves take adversity personally, it clouds our judgement with doubt and useless feelings of powerlessness. You want to place stops based on your trusted rules, not based on fear.
Another of the many means to achieve emotional detachment.
I think he was referring to the liquidity suppliers and not so much about the marketPLACE between participants.
Yes, and the rest is metaphoric. Obviously, the market really isn't "alive" . But viewing it as such is the proper perception.
No, it is not.
We've arrived down to "whatever works for someone" territory.
Personally, the erratic traders I've seen were too emotionally involved to remain rational at all times and execute their plan as intended. For them, I don't think that viewing the market as a singular entity "out to get them" would help.We've arrived down to "whatever works for someone" territory.
Yeah, but the problem is that most "plans" are fatally flawed any way since they are based on false premises like "patterns work", "the past equals the future" etc. These ideas are propagated by the market since the market needs you to trade and lose to survive.
Here's a simple example-- FX dealers push TA hard on their clients-- FX dealers profit from your losses, so why do they push TA if it is an effective method?? The reason is that it doesn't work and the dealers know this--- despite appearing to "work".
We are dealing with a VERY INSIDIOUS system when trading. Realizing this is among the first steps to seeing the TRUTH. and not what the market wants you to think-- people like DB are the false prophets to the retail-- although they may not even realize this yet-- all will become clear. surf