I'm sure you bet your ass everyday.. and lose itQuote from Eliitetrader:
model ????? am afraid not,
but can I tell that you are where I was 10 years ago....you bet your ass
ps: The real traders remain silent about their success
How my shrink gave me trading advice
- Thread starter Eliitetrader
- Start date
ps: The real traders remain silent about their success
Your shrink was right the market is unpredictable, however, so is the human mind to a point. The market has little or nothing to do with a traders success or failure. Success has everything to do with the individual trader and no one can predict who that person could be.
It is developing the necessary disciplines which ear-marks a successful trader and most people are not conditioned to accept the responsibility and the accountability of it all. Most people are accustomed to assigning excuse and blame to their everyday plight in life.
It took me 15,000 hours to develop a successful "technique" for trading (notice I didn't say "system"). I am not suggesting it should take everyone 15,000 hours to learn successful trading. It does accurately imply I am a slow learner. It does accurately imply anyone can learn to be a successful trader. The issue is; not everyone is "willing" to go through what it takes to be a successful trader and this is really the crux as to whether successful trading will happen for someone.
I have mentored a number of would be traders. Some have become successful and some have not. All could be, but it was themselves which made it so either way. We all are burdened with dysfunctionally conditioned egos. It is accepting the dysfunction for what it is and overcoming the affliction to the degree we make money on a consistent basis trading the market.
It is developing the necessary disciplines which ear-marks a successful trader and most people are not conditioned to accept the responsibility and the accountability of it all. Most people are accustomed to assigning excuse and blame to their everyday plight in life.
It took me 15,000 hours to develop a successful "technique" for trading (notice I didn't say "system"). I am not suggesting it should take everyone 15,000 hours to learn successful trading. It does accurately imply I am a slow learner. It does accurately imply anyone can learn to be a successful trader. The issue is; not everyone is "willing" to go through what it takes to be a successful trader and this is really the crux as to whether successful trading will happen for someone.
I have mentored a number of would be traders. Some have become successful and some have not. All could be, but it was themselves which made it so either way. We all are burdened with dysfunctionally conditioned egos. It is accepting the dysfunction for what it is and overcoming the affliction to the degree we make money on a consistent basis trading the market.
Well said.
If you look at the way so many people live an undisciplined life, how could they ever run a business or trade for a living?
Congratulation for doing the impossible!
Tracking down your shrink is a good idea. Please let us know who he is, so we could get some psychological help from him as well!
Pension_Admin
Tracking down your shrink is a good idea. Please let us know who he is, so we could get some psychological help from him as well!
Pension_Admin
Quote from Eliitetrader:
I want to give you guys something to laugh at
when I was a losing trader, I became suicidal, hard work for nothing. So I go to a shrink, supposedly a good one.
And after I explain what I am feeling he asks me
"So what do you know about nature of the market"
He slowly through talk explained that stock market is so unpredictable that no one can use it for lifetime to make money consistently.
Well the story ends in me one year later finally realizing that day trading is very doable indeed.
Should I track my shrink down and tell him how I can OWN his ass now doing the impossible
first off you sound very arrogant . you go to a shrink because you want to commit suicide due to all the losses you sustained from the stock market. correct? he then tells you to stop daytrading because thats the root cause of your depression.correct? so in other words if you become suicidal again because of some big loss i guess you want to go to a new shrink that will tell you to get a home equity loan and put it all in a daytrade account! seriously,what did you expect your shrink to say! he gave sound advice.
trading is all about discipline. if you are a sloppy,unorganized person you will get killed. stay in good shape,eat correctly,hang with possitive people and employ a disciplined trading strategy that cuts losses quickly and NEVER rely on hope.
that said,not anyone can be a successful trader,you have to have a certain x factor that cannot be tought. this x factor is in every successful trader but it takes some longer to bring it out.
trading is all about discipline. if you are a sloppy,unorganized person you will get killed. stay in good shape,eat correctly,hang with possitive people and employ a disciplined trading strategy that cuts losses quickly and NEVER rely on hope.
that said,not anyone can be a successful trader,you have to have a certain x factor that cannot be tought. this x factor is in every successful trader but it takes some longer to bring it out.
Quote from Eliitetrader:
I want to give you guys something to laugh at
when I was a losing trader, I became suicidal, hard work for nothing. So I go to a shrink, supposedly a good one.
And after I explain what I am feeling he asks me
"So what do you know about nature of the market"
He slowly through talk explained that stock market is so unpredictable that no one can use it for lifetime to make money consistently.
Well the story ends in me one year later finally realizing that day trading is very doable indeed.
Should I track my shrink down and tell him how I can OWN his ass now doing the impossible
Your shrink is in the right business, charging $200 to listen to your woes, given the successful rate of would-be traders. In fact, the traders' rate of success is irrelevant to him, so he wouldn't care tthat one out of ten traders he sees goes on to great success as all ten have contributed to his retirement and kids's college funds...
I too see the shrink giving the only advice needed. The trader will probably have another bout down the road, because he doesn't appreciate reality as it is.
He should had said, "My shrink gave me sound advice at the time. I was then able to overcome what was defeating me and so far it is working for me. Perhaps I should chase down my shrink and tell him how I have conquered the demons which had brought me so much despair. I was humbled by my life threatening experience".
If trading can be looked on as a job,a business or a profession never let it identify you as a person. You went down the slippery slope when it became your identity. It's just something you do not what you are. Not every one is destined to be "KING OF THE HILL". Separate your identity from your job. When you quit doing your job who will you be?