Livermore :emotions and mind of a gambler/trader

Livermore was a speculator - not a gambler. There is a difference. Most people do not do well with being wealthy no matter how they acquired it. Many lottery winners report their life is worse after they won. Getting rich is not as hard as staying rich due to the self destructive tendencies we have.
 
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Compulsive gambling is a very low level of consciousness.
Although trading can be addictive very few traders will turn into compulsive gamblers if they aren't already gamblers (i.e born with specific genetic make up that makes them prone to Compulsive Gambling).

In the Mahabharata and Gita, Lord Krishna talks about raising the consciousness to much higher levels. That is the kind of stuff traders need to concentrate on, not on the gambling drama.
 
Jesse broke his own rules. We all do! If we blow out it depends on when we broke our rules. The situation determines whether we blow out or just have a substantial loss. For sure, the amygdalia can mess one up ...big time ...in trading, however, the flip side of the brain is the power it possesses in discretional trading...something a computer cannot compete with.

Jesse came from a hard background. That affects ones mental state for life. Just talk to someone who lived in a hard way thru the great depression. My grandma hated to watch the Waltons on tv. It reminded her too much of the great depression. Grandpa slowly built a house out of wood he saved that was rationed off for chicken house building. He just kept getting a little wood each time he went back. They lived in a tent placed on a wood platform. Grandpa built the house around the tent. Years and years later as a young man i lived for awhile with grandma after grandpas death. From time to time i had to go on the roof and seal it. Amazingly once i found the tent fabric under all those layers of roofing material. Grandma had groceries delivered to her and myself from a local grocery store. The poor soul who brought them in had to wait for grandma to check everything out and count the money. If price was .10 off...well you get the picture...grandma would call them out on it. I paid room and board and worked at another grocery store myself. Grandma cooked. She was a great cook. To this day i have found no other person that can cook chicken or squirrel like her. It was delicious. Jesse's was a gambler even from the time he left home as a young man working the fields. To leave was a gamble. Unfortunately he could not control that demon. However, if he had not taken a gamble he would have lived his life in the rock strewn fields trying to carve out a living to survive. I do not know what did him in at the end but i am quite sure his past had a big influence on him.
 
southall said:
Compulsive gambling is a very low level of consciousness.
Although trading can be addictive very few traders will turn into compulsive gamblers if they aren't already gamblers (i.e born with specific genetic make up that makes them prone to Compulsive Gambling).

In the Mahabharata and Gita, Lord Krishna talks about raising the consciousness to much higher levels. That is the kind of stuff traders need to concentrate on, not on the gambling drama.
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Take the horses to the water and make them drink it!You can not teach an old dog new tricks.
 
southall said:
I think except for his very rough Money management he was doing almost everything right. But in trading you have to do everything right especially if you want to hold onto the majority of your profits.
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A leopard can't change its spots. A person cannot change who they are (their character), no matter how hard they try. This idiom comes from the Old Testament (Jer. 13:23).

Emotions:Perhaps the most common misinterpretation of dogs is the myth that a dog wagging its tail is happy and friendly. While some wags are indeed associated with hapines, others can mean fear, insecurity, a social challenge or even a warning that if you approach, you are apt to be bitten.

You can't change your ancestral , subconcious brain.The amygdala is irregulated brain , it is overactive in fear and greed.It controlled the money management .Some traders will regularly put on trades larger than normal , just because their amygdala is over responsive.




http://www.medicaldaily.com/gamblin...n-emotion-regulating-impairments-brain-275002
 
Trading Education Buyer
Thank you for telling us the limits of what you know regarding psychology: basically you do not know how to sort these types of problems. I am glad the earth is huuuuggge , that there are thousands of different mental/spiritual/psychological practices and knowledge from East to West, from North to South.
 
smallStops said:
Trading Education Buyer
Thank you for telling us the limits of what you know regarding psychology: basically you do not know how to sort these types of problems. I am glad the earth is huuuuggge , that there are thousands of different mental/spiritual/psychological practices and knowledge from East to West, from North to South.
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Yes there are solutions proposed by trading psychologists , they offer $800 courses and other mind training , like mindfullness , meditation and breathing .Nowadays the trading industry is well advanced , with techniques , to make more money from traders.

These pychologists ,give fancy names , to simple psychology of the human mind , but going on youtube and listening to webinars on emotions , mindfullness, meditation , patience , stress , the need to be right , reactive patterns and self sabotage will help traders immensley.


I do not reccomend any books or phychologists , but listening to them helps traders.


 
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