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Mental Ceilings and self fulfilling prophesies
- Thread starter Girlpower
- Start date
"The 1.5pt/day is indirect. It is the cumulative result of many, many individual events -- trades. So if the "limiting belief" does not affect the individual trades, then, as I said earlier, its effect on the long run average is either non-existant, or so insignificant, that there is little point at all in calling the 'belief' of "1.5pt/day is a great trading performance" a "limiting belief". " --alfonso
I think it's of great relevance. In my very limited trading history of futures contracts I'm just chipping away for fractions at a time. It will sit there like a target waiting to be hit if I'm on the low side and will act like a cushion to rest on if I've passed it for the day and am facing some losses..."I'll quit if my total for the day falls to 1.5."
It gives me a smaller goal than say, 3 pts. a day, to start with in the day. If things are going good and I get 1.5, I can say to myself to try for 3. It's everything to me as a beginner. Just tough enough to make me wary of skipping into the market with high hopes and a song in my heart. Forgive this light-hearted attitude but you oldsters know that for some of us less experienced traders it is like facing a bad dream to get up and start trading in the morning.
Anyway this is a good thread for seeing what can be done, what has been done and for the frequent reality checks.
Bruce
I think it's of great relevance. In my very limited trading history of futures contracts I'm just chipping away for fractions at a time. It will sit there like a target waiting to be hit if I'm on the low side and will act like a cushion to rest on if I've passed it for the day and am facing some losses..."I'll quit if my total for the day falls to 1.5."
It gives me a smaller goal than say, 3 pts. a day, to start with in the day. If things are going good and I get 1.5, I can say to myself to try for 3. It's everything to me as a beginner. Just tough enough to make me wary of skipping into the market with high hopes and a song in my heart. Forgive this light-hearted attitude but you oldsters know that for some of us less experienced traders it is like facing a bad dream to get up and start trading in the morning.
Anyway this is a good thread for seeing what can be done, what has been done and for the frequent reality checks.
Bruce
Quote from damir00:
based on what? in all the hundreds of posts i haven't seen anybody post what they've actually done.
Are you joking or what? LOL. Every trader contributing to this thread is sharing his or her experience of some aspect of trading. Mostly, it has been directed toward the psychological aspects of what people go thru when trying to adapt to the trading environment. Some people view at as a game, others as a job, still others a part time vocation or hobby.
Is it too much of a stretch to learn people's financial matters are usually very closely held. People tend not to open up about them. I know, I conducted marketing interviews and later supervised them for financial institutions. Even anaonymousely people are reticent about divulging financial information or information that they consider to be held in trust for their families or close associates. Aaron Schindler hasn't posted here but his record is a matter of public record. Do you think his job is more or less difficult than the job Girlpower has? Aaron's record is there to see. You can assume he doesn't have special knowledge that we don't, he is a trader and he does his work.
Just because someone keeps financial matters to themself doesn't mean they aren't capable.
Bruce
Quote from bdixon619:
Just because someone keeps financial matters to themself doesn't mean they aren't capable.
conversely, just because they don't post them, doesn't mean they trade well. or even trade at all. sorry, i don't believe anything that doesn't come with some measure of verifiability, most especially information of a financial nature.
you are, of course, free to believe anything your filters insist you should believe.
Quote from bdixon619:
Aaron's record is there to see. You can assume he doesn't have special knowledge that we don't, he is a trader and he does his work
without seeing his trades, i have no way of knowing if he's good or just another niederhoffer waiting to explode. when it comes to my money, i trust nothing - and nobody - i can't verify.
Quote from damir00:
conversely, just because they don't post them, doesn't mean they trade well. or even trade at all. sorry, i don't believe anything that doesn't come with some measure of verifiability, most especially information of a financial nature.
you are, of course, free to believe anything your filters insist you should believe.
Yes I realized that. I'm not posting to make you a believer. I'm sharing what I share. Whether or not you gain something from what you read here is not my responsibility. I don't let it bother me about the verifiability part, though. I figure if a person is posting here they have a reason for contact with their peers. If each is treated with respect and generally afforded the benefit of the doubt then the environment is conducive to learning what might be learned. It is knowing which prevents learning. I know what I know but that doesn't prevent me from learning what somebody else might know.
Bruce
Quote from damir00:
without seeing his trades, i have no way of knowing if he's good or just another niederhoffer waiting to explode. when it comes to my money, i trust nothing - and nobody - i can't verify.
Damir,
I'm not asking to manage your money. I don't think anyone here has made an offer. What are you trying to say or imply? I'm confused by your posting.
Bruce
Quote from bdixon619:
I'm confused by your posting.
it is impossible to tell if someone is a good trader merely by looking at their returns. you need to see their actual trades to figure that out. none of us here have any way of knowing if schindler is good or just lucky.
that's all.
you seem to be wanting to read a disparaging tone to my post, sorry, it isn't there.
even if your filters are suggesting it is. ;-)