similar to starting to trade with real account and not have a freaking clue of what i was doing. i was just gambling, didnt even look at charts lol. i FREAKED, paced back and forth like 'i dunno wtf im doing' this needs to stop. so i did, moved on from my losses and did what was necessary to be successful
Losing All Your Possesions
- Thread starter antincedo
- Start date
Losing everything can be a wonderful experience or a person's worst nightmare. It can be enlightening or it can be life destroying. From losing it all, one has the opportunity to finally see the impermanence of all things, and to be able to reevaluate what is most important to them in life. On the other hand if what is most important to you is money, then you might not find the process of losing it all the least bit enjoyable or beneficial (unless you happen to be a materialistic masochist!)
I'd say it really depends on what stage you are at in your life. If you are later in life and lose it all you might find the idea of recreating all the wealth that took you a lifetime to attain daunting and even highly unlikely. On the other hand, if you are healthy and vigorous, there's a better chance of being able to make it all back. However, being healthy and vigorous isn't always dependent on your age as much as your mindset.
Right now I side with the belief that losing it all is a great experience. I've lost it all at least twice in my life. The first time it happened, I became desperate and miserable because I felt as if my whole world was falling apart. It was as if my identity and dreams were being robbed from me. I recovered eventually, though I hated the process because I felt that during the time of my recovery I wasn't "myself". The second time I lost it all, I was a little bit in disbelief because I never wanted to go through what I had been through just a few years before. But it happened nonetheless. Surprisingly it wasn't nearly as bad as the first time, even though the fall was a greater one! I lost my cars, my apartment, and my other luxurious possessions of life, even things I never had the first time around. Yet I didn't take the loss as hard as before. By then, part of me realized that I would still exist when all my material possessions may not.
I'm still in the process of recovering back to the graces of the past, though now it isn't as important whether I succeed or not. No matter what, I know I won't starve or have to sleep on the streets. I look at things from a different standpoint now. Funny thing is I'm more happy now than I ever was before. I'm just happy to be alive I guess. I see that all things which are created by me, will be eventually destroyed, and I've even come to know that I can be truly happy as long as I have my general well being as well as the other things I value which money can't buy. I realize I have a long way to go, and still have so much to learn.
What scares me the most right now is dying. That to me, is really losing it all.
I'd say it really depends on what stage you are at in your life. If you are later in life and lose it all you might find the idea of recreating all the wealth that took you a lifetime to attain daunting and even highly unlikely. On the other hand, if you are healthy and vigorous, there's a better chance of being able to make it all back. However, being healthy and vigorous isn't always dependent on your age as much as your mindset.
Right now I side with the belief that losing it all is a great experience. I've lost it all at least twice in my life. The first time it happened, I became desperate and miserable because I felt as if my whole world was falling apart. It was as if my identity and dreams were being robbed from me. I recovered eventually, though I hated the process because I felt that during the time of my recovery I wasn't "myself". The second time I lost it all, I was a little bit in disbelief because I never wanted to go through what I had been through just a few years before. But it happened nonetheless. Surprisingly it wasn't nearly as bad as the first time, even though the fall was a greater one! I lost my cars, my apartment, and my other luxurious possessions of life, even things I never had the first time around. Yet I didn't take the loss as hard as before. By then, part of me realized that I would still exist when all my material possessions may not.
I'm still in the process of recovering back to the graces of the past, though now it isn't as important whether I succeed or not. No matter what, I know I won't starve or have to sleep on the streets. I look at things from a different standpoint now. Funny thing is I'm more happy now than I ever was before. I'm just happy to be alive I guess. I see that all things which are created by me, will be eventually destroyed, and I've even come to know that I can be truly happy as long as I have my general well being as well as the other things I value which money can't buy. I realize I have a long way to go, and still have so much to learn.
What scares me the most right now is dying. That to me, is really losing it all.
I don't think that who you hang out with has a thing to do regarding success other than if networking can lead to success for you. I'm developing auto trading systems, I can hang out with my doggies in the back yard and it will be fine. Make a goal pyramid, draw a pyramid and put your life goals on the top, your interim goals in the middle and the bottom will be what you have to do to get to the interim goals. Likely as not "hang out with successful people" will not show up anywhere on the drawing if you are doing technical stuff.
--------------------------------------------------------------------------------
Iris Gaines: You know, I believe we have two lives.
Roy Hobbs: How... what do you mean?
Iris Gaines: The life we learn with and the life we live with after that.
http://www.imdb.com/title/tt0087781/quotes
You're never going to be God. Trust me. He's a couple that tried:
1 Now the serpent was more crafty than any of the wild animals the LORD God had made. He said to the woman, "Did God really say, 'You must not eat from any tree in the garden'?"
2 The woman said to the serpent, "We may eat fruit from the trees in the garden, 3 but God did say, 'You must not eat fruit from the tree that is in the middle of the garden, and you must not touch it, or you will die.' "
4 "You will not surely die," the serpent said to the woman. 5 "For God knows that when you eat of it your eyes will be opened, and you will be like God, knowing good and evil."
http://www.biblegateway.com/passage/?book_id=1&chapter=3&version=31&context=chapter
maybe i should have entitled this thread 'Losing Ones Religion' 
thats me in the spot light.....
anyways i believe my point was to those who are successful traders... do you think it is necessary to understand what it is or at least what it would be like to 'lose everything'. so that you you won't be fearful in your trading.
thats me in the spot light.....
anyways i believe my point was to those who are successful traders... do you think it is necessary to understand what it is or at least what it would be like to 'lose everything'. so that you you won't be fearful in your trading.
Quote from antincedo:
maybe i should have entitled this thread 'Losing Ones Religion'
thats me in the spot light.....
anyways i believe my point was to those who are successful traders... do you think it is necessary to understand what it is or at least what it would be like to 'lose everything'. so that you you won't be fearful in your trading.
In the book Market Wizards there is a quote that goes
something like:
Don't bet the farm and nothing bad will ever happen to you.
Losing on a continual basis will almost certainly create stress.
I suppose if it didn't, that would be a bad thing. After all if one
is losing continously, and it doesn't bother them, like, what is
going on in their head? Do they have blind faith in a mechanical
system? There is definitely some problem.
my 2 pennies
************************************************
Big time bright lights
The world is looking for someone to show them the daylight
But it's not me, I am not the one
For simple love, look to the Son
Spotlight
Get me out of this spotlight
It looked ok, but somehow it doesn't feel right
A lifelong dream now reality
I never thought that it could happen to me
Big time high life
Shattered hopes and disillusioned insight
He can give it to you and he can take it away
Just as sure as the morning is the start of day
Sometimes in your life
The world is going to put you under the spotlight
It's easy to follow, not hard to pursue
You won't know that it happened to you
Oh it happened to you
Spotlight by Sixpence none the richer
my take on all this is as follows --
I don't consider money at all.
For me, it's like a game with points.
It makes psychologically much easier to settle among narrow set of right decisions and key rule, DISCIPLINE.
After all, it's not the lunch and/or even breakfast money.
If you win some round amount applying the laws of money management, transfer it to your saving account.
Don't increase the amount of money you trade.
I always use 100K (not more) for trading.
To avoid any temptations, recently, I deminished my trading account to minimum, 25K.
Also, I try to play more with options and avoid the stocks, and keep stocks only when absolutely necessary for options play, and get rid of them as soon as I can. Too risky!
Also, playing with options make it easier for those who cannot figure out where to set up his force-majeur stoplosses. If you are absolutely wrong you cannot lose too much, even losing all.
I don't hang our with people much.
I ride my bike with dynamo as much as I can (no gas is required). I watch the most successful traders recommendation in Internet TV, but always make up my mind myself. Too often those guys contradict themselves.
And, I hate to copy Warren Buffet.
I'm not long term player, even if the game has more advantages in the long run.
I don't consider money at all.
For me, it's like a game with points.
It makes psychologically much easier to settle among narrow set of right decisions and key rule, DISCIPLINE.
After all, it's not the lunch and/or even breakfast money.
If you win some round amount applying the laws of money management, transfer it to your saving account.
Don't increase the amount of money you trade.
I always use 100K (not more) for trading.
To avoid any temptations, recently, I deminished my trading account to minimum, 25K.
Also, I try to play more with options and avoid the stocks, and keep stocks only when absolutely necessary for options play, and get rid of them as soon as I can. Too risky!
Also, playing with options make it easier for those who cannot figure out where to set up his force-majeur stoplosses. If you are absolutely wrong you cannot lose too much, even losing all.
I don't hang our with people much.
I ride my bike with dynamo as much as I can (no gas is required). I watch the most successful traders recommendation in Internet TV, but always make up my mind myself. Too often those guys contradict themselves.
And, I hate to copy Warren Buffet.
I'm not long term player, even if the game has more advantages in the long run.
ok, let's see how does this go..
"your greatest possession is your health so stop lamenting over your lot in life. if you have your health you have everything'
or some such bullshite :
feel better now? D
"your greatest possession is your health so stop lamenting over your lot in life. if you have your health you have everything'
or some such bullshite :
feel better now? D