This is a very important lesson to learn from Jesse Livermore , these same patterns were present among gamblers , from 4500 years ago in the mahabharata.
Traders have emotions and emotions dictate their trades .Jesse livermore was an example.He was a gambler , suffered depression (a mental illness) and commited suicide R I P Sir .I should not be writing about a soul who has passed away.
He also died broke and depressed after numerous boom and bust cycles , this was mainly due to the inability to judge risk (human brain is a poor judge of risk , our judgement on risk is clouded by beliefs and emotions ) , his gambling mind got him in debt and he gambled more than he had , in fact at one time , he owed $1,0000,000.He proceeded to lose 90% of that 1907 fortune on a blown cotton trade. He violated many of his key rules; he listened to another person's advice (he preferred working alone) and added to a losing position. He continued losing money in the flat markets from 1908–1912. He was $1 million in debt and declared bankruptcy.
https://en.wikipedia.org/wiki/Jesse_Lauriston_Livermore
https://en.wikipedia.org/wiki/Mahabharata
Gamblers/traders are overcome by emotions , and when traders are overcome by emotions ,they are out of control , they will bet everything they own .This will also happen to you as a trader.
This happens becase we , as traders/gamblers are emotionally hijacked
https://www.google.co.uk/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=amygdala+hijack
An Amygdala Hijack is an immediate and overwhelming emotional response out of proportion to the stimulus because it has triggered a more significant emotional threat. Theamygdala is the part of our brain that handles emotions. During an Amygdala Hijack, the amygdala "hijacks" or shuts down the neo-cortex.
The gambler's emotions are present ,in all humans , and have been since we were created.They were present 4500 years ago .After betting his own brothers and losing , he bet his own wife on a game of dice.
https://www.quora.com/What-right-di...his-brothers-and-Draupadi-in-the-game-of-dice
https://www.google.co.uk/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=depression mental illness
In this scene , from the mahabharata ,see the consequences of betting everything ,after a few losses and losing everything , he bet his wife on the gambling table , the humiliation of a woman .THE PRINCE BET HIS OWN WIFE , after running out of cash , at a gambling table .Think of the consequences of gambling , how much pain it causes to those around you.
If you have any value to add , to this subject , please do provide a professional discussion on this subject.
Traders have emotions and emotions dictate their trades .Jesse livermore was an example.He was a gambler , suffered depression (a mental illness) and commited suicide R I P Sir .I should not be writing about a soul who has passed away.
He also died broke and depressed after numerous boom and bust cycles , this was mainly due to the inability to judge risk (human brain is a poor judge of risk , our judgement on risk is clouded by beliefs and emotions ) , his gambling mind got him in debt and he gambled more than he had , in fact at one time , he owed $1,0000,000.He proceeded to lose 90% of that 1907 fortune on a blown cotton trade. He violated many of his key rules; he listened to another person's advice (he preferred working alone) and added to a losing position. He continued losing money in the flat markets from 1908–1912. He was $1 million in debt and declared bankruptcy.
https://en.wikipedia.org/wiki/Jesse_Lauriston_Livermore
https://en.wikipedia.org/wiki/Mahabharata
Gamblers/traders are overcome by emotions , and when traders are overcome by emotions ,they are out of control , they will bet everything they own .This will also happen to you as a trader.
This happens becase we , as traders/gamblers are emotionally hijacked
https://www.google.co.uk/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=amygdala+hijack
An Amygdala Hijack is an immediate and overwhelming emotional response out of proportion to the stimulus because it has triggered a more significant emotional threat. Theamygdala is the part of our brain that handles emotions. During an Amygdala Hijack, the amygdala "hijacks" or shuts down the neo-cortex.
The gambler's emotions are present ,in all humans , and have been since we were created.They were present 4500 years ago .After betting his own brothers and losing , he bet his own wife on a game of dice.
https://www.quora.com/What-right-di...his-brothers-and-Draupadi-in-the-game-of-dice
https://www.google.co.uk/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=depression mental illness
In this scene , from the mahabharata ,see the consequences of betting everything ,after a few losses and losing everything , he bet his wife on the gambling table , the humiliation of a woman .THE PRINCE BET HIS OWN WIFE , after running out of cash , at a gambling table .Think of the consequences of gambling , how much pain it causes to those around you.
If you have any value to add , to this subject , please do provide a professional discussion on this subject.
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