I think I'm gonna go to Gambler's Anonymous

[lobsterman]

Quote from c_verm:

waht do you meen spel chek?

:eek:

Aoccdrnig to a rscheearch at Cabmrigde Uinervtisy, it deosn't mttaer in waht oredr the ltteers in awrod are, the olny iprmoetnt tihng is that the frist and lsat ltteer be at the rghit pclae. The rset can be a total mses and you can sitll raed it wouthit a porbelm. Tihs is bcuseae the huamn mind deos not raed ervey lteter by istlef, but the wrod as a wlohe.

Keep your eye on the hole, and not the donut.

 

[Pabst]

"(Investment is) intolerably boring and over-exacting to any one who is entirely exempt from the gambling instinct; whilst he who has it must pay to this propensity the appropriate toll."

John Maynard Keynes

 

[c_verm]

Quote from lobsterman:



Aoccdrnig to a rscheearch at Cabmrigde Uinervtisy, it deosn't mttaer in waht oredr the ltteers in awrod are, the olny iprmoetnt tihng is that the frist and lsat ltteer be at the rghit pclae. The rset can be a total mses and you can sitll raed it wouthit a porbelm. Tihs is bcuseae the huamn mind deos not raed ervey lteter by istlef, but the wrod as a wlohe.

Keep your eye on the hole, and not the donut.

Nice. I got that email as well. Its amazing really.

 

[funky]

Quote from lobsterman:



Aoccdrnig to a rscheearch at Cabmrigde Uinervtisy, it deosn't mttaer in waht oredr the ltteers in awrod are, the olny iprmoetnt tihng is that the frist and lsat ltteer be at the rghit pclae. The rset can be a total mses and you can sitll raed it wouthit a porbelm. Tihs is bcuseae the huamn mind deos not raed ervey lteter by istlef, but the wrod as a wlohe.

Keep your eye on the hole, and not the donut.

whoa, that's scary

 

[AMT4SWA]

we all picked up ugly girls at the bar when we were drunk? :eek: We did not see what was between the first and the last?

 

[Atlantic]

Quote from chinook:




It came to such a point that I feel like my mind is split into two during the trading day. I decided to write down what the "voices in my head" are saying. My impatient and self-destructive side is constantly beating up and blaming my rule-following side.


Chinook

yeah - same here. just like in those fantasy movies where devil and angel are sitting on some guys shoulders telling him how to act.

angel: you know your rules - you know what is right or wrong - do the right thing. ignoring your rules will hurt you. be a good boy ...

devil: come on dude - jump in - make it back - f*ck those rules - you don't need rules - you're da man - don't let them take your money - go get it ...

we know the end of the story

 

[Guardian Angel]

Quote from gerry875:



yeah - same here. just like in those fantasy movies where devil and angel are sitting on some guys shoulders telling him how to act.



You rang?

How may I assist you today?

 

[GetWhatUDeserve]

Quote from lobsterman:



Aoccdrnig to a rscheearch at Cabmrigde Uinervtisy, it deosn't mttaer in waht oredr the ltteers in awrod are, the olny iprmoetnt tihng is that the frist and lsat ltteer be at the rghit pclae. The rset can be a total mses and you can sitll raed it wouthit a porbelm. Tihs is bcuseae the huamn mind deos not raed ervey lteter by istlef, but the wrod as a wlohe.

Keep your eye on the hole, and not the donut.

Now that was both entertaining and educational.

 

[harrytrader]

Discipline doesn't come by magic because it is not natural for human. Again it is not enough to say what (get disciplined) but also to say how. And yes the journal is perhaps the ONLY CONCRETE tool to get disciplined. A psy can perhaps help but it is not enough. Also if you are a pattern trader you must make a journal of these patterns and it's better to do it "BY HAND" (with screen copy and annotation tools) which takes time but it is the way memory works: memory works with all the senses and if you let the machine do it for you (in fact it is difficult for a machine to do intelligent annotations) you won't just memorize a lot and when the pattern presents in real time you will hesitate. Hesitation in daytrading is costful because contrary to upper scale trading slippage counts and each second of hesitation increases exponentially the risk.

Quote from chinook:

I know exactly what you're talking about. I have the same problem although it's getting much better. I log each trade so I can go back and show myself if I violated my own rules. It's helping but it's a slow and painful process.

Chinook

 

[saxon]

Quote from Lobster:



This is a very interesting and insightful post. However, it assumes that you favor the "American" approach to trading (How can I make the most money by putting forth the least effort?)

Hmm...as opposed to the (European?) system (How can I make the least money by putting forth the most effort?).