How do you get rid of the "ego"

You are not losing because of your ego, you are losing because you don't have a trading plan. You have no exit strategy so when a trade starts going against you, you have no clue what to do. So you watch your losses piling up, hoping that somehow the market will turn in your favor. You exit when it gets too painful.

This will continue till the time when you can't take the pain of losing anymore. At that time you will either quit or get down to making a trading plan.
 
''How do you get rid of the "ego"?

The same way how you do get rid of the echo...Don`t scream out loud,be quiet and humble.
 
meditation is great , making crazy bets at a casino helps out too makes u not care

but end of the day its about how much pain you can take , manage the pain and you will gain :D
 
back in the old days, when I was going through a really bad drawdown and having read all the trading books, I started reading all the pop psychology books thinking that somehow that would save me.

the only one that really worked was the I Ching

it's all based on mathmatics

chances are, most days you toss it, it will tell you you just hold tight and do nothing

everynow and then you will get an agressive toss

and once in a great while you will get a "Go all in" day

follow that, and you won't really have to worry about ego that much, because everything will be governed by math

I don't ever use it anymore, at least not consciously

but the years that I did kind of put things in mathmatical perspective

ego aint nuthin but a relationship problem with your wife, your mother, or your father
 
For me the two extremes are ego and fear. I wrote down some credos that I developed over the years. Whenever I feel emotional (good or bad) I read them.

They range from sublime things: "be a man of value rather than wealth" to "if you've made more than you expect, cut because it will probably revert back" or "don't worry about missing the rally, there are many other other trades"

It's like life's little instruction book for trading.


I read it prob once every two weeks.
 
Quote from newwurldmn:

For me the two extremes are ego and fear. I wrote down some credos that I developed over the years. Whenever I feel emotional (good or bad) I read them.

They range from sublime things: "be a man of value rather than wealth" to "if you've made more than you expect, cut because it will probably revert back" or "don't worry about missing the rally, there are many other other trades"

It's like life's little instruction book for trading.


I read it prob once every two weeks.
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if you've made more than you expect, cut because it will probably revert?

That's kind of a defeatist attitude

they won't ever write a book about you

I am very conservative, and that's the way I see it

plan shlam, when it moves more than it should and you can feel the energy and you know it very rarely lasts, I get flat

but like I said, I sold my gold at 1340 and am now buying again at 1600

so it doesn't always work, if that's what your ego wants, but if you have a little respect for math, it works enough of the time

math trumps ego
 
Quote from bat1:

My ego is killing me!
Making me stay in losing trades.
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This comment means that you are not your ego. The ego can't exist without you but you can exist without the ego. So you have control of the situation no matter what you believe.

Eckhart might say to stop feeding your ego when the real you fights against it. Simply drop it as not useful to you.
 
Quote from oldtime:

if you've made more than you expect, cut because it will probably revert?

That's kind of a defeatist attitude

they won't ever write a book about you

I am very conservative, and that's the way I see it

plan shlam, when it moves more than it should and you can feel the energy and you know it very rarely lasts, I get flat

but like I said, I sold my gold at 1340 and am now buying again at 1600

so it doesn't always work, if that's what your ego wants, but if you have a little respect for math, it works enough of the time

math trumps ego
More...
you can just ignore this post (if I am not already on your ignore list) because it was edited and the one sentence that I was setting up got deleted
 
Quote from oldtime:

if you've made more than you expect, cut because it will probably revert?

That's kind of a defeatist attitude

they won't ever write a book about you

I am very conservative, and that's the way I see it

plan shlam, when it moves more than it should and you can feel the energy and you know it very rarely lasts, I get flat

but like I said, I sold my gold at 1340 and am now buying again at 1600

so it doesn't always work, if that's what your ego wants, but if you have a little respect for math, it works enough of the time

math trumps ego
More...

I'm not worried about someone writing a book about me. Im obly worried about sustainable long term alpha. I have noticed that my books pnl reverts. Your book might behave differently.

I appreciate your comment about math, but math isn't everything. If it were the markets would be dominated by PhDs and we've seen where that leads.
 
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