more you want it - lesser of your chances

A

andrasnm

I believe in the path of least resistance.
In many aspects of life when and if you force something too much it will not work.
Ever notice that?
I like to propose a little exercise for your mind...try to trade for the sake of trading not for the money.
TRy to think of your motivation as becoming the best trader given your circumstances.
This could entail avoiding losing days or limit the size of losses, trade with the least of overhead and even trade only part time if your trading style allows it.
Examine your hidden motivation in trading...this maybe the key of your shortcomings and limiting factors to be successful....
Try to give some money back. Be charitable and kind. Do some community service. Karma is an immutable law of nature and it will and can affect your performance as a trader.
 
Quote from andrasnm:

I believe in the path of least resistance.
In many aspects of life when and if you force something too much it will not work.
Ever notice that?
I like to propose a little exercise for your mind...try to trade for the sake of trading not for the money.
TRy to think of your motivation as becoming the best trader given your circumstances.
This could entail avoiding losing days or limit the size of losses, trade with the least of overhead and even trade only part time if your trading style allows it.
Examine your hidden motivation in trading...this maybe the key of your shortcomings and limiting factors to be successful....
Try to give some money back. Be charitable and kind. Do some community service. Karma is an immutable law of nature and it will and can affect your performance as a trader.
More...

Have you ever read about psycho-cybernetics? Take a look at http://www.trading-naked.com/library/EmotionFreeTradingBook.pdf if you get a chance... very good read imo.
 
Quote from andrasnm:

I believe in the path of least resistance.
In many aspects of life when and if you force something too much it will not work.
Ever notice that?
I like to propose a little exercise for your mind...try to trade for the sake of trading not for the money.
TRy to think of your motivation as becoming the best trader given your circumstances.
This could entail avoiding losing days or limit the size of losses, trade with the least of overhead and even trade only part time if your trading style allows it.
Examine your hidden motivation in trading...this maybe the key of your shortcomings and limiting factors to be successful....
Try to give some money back. Be charitable and kind. Do some community service. Karma is an immutable law of nature and it will and can affect your performance as a trader.
More...

Well stated sir. In fact, I was in the process of addressing these various issues on the related thread about this very subject. Your exercise focusses on the very weakness of many self funded traders. Namely the majority of which cannot separate the trading of "their money" from the trading of their particular market.

On the other hand, the benefit of either trading as a backed trader or as a fund manager is quite obvious. If you can separate yourself from the emotions of "gambling or speculating" with your own capital, you have really overcome most of the battle. A trader who has separated him or herself from this emotional hang-up will more than likely be able to either:

a) add to a winning position and

b) let a trade run until the trailing stop is hit.
 
IMO ,
Trading has little to do with exercises with the mind

and Much to do with conditionioning and KNOWLEDGE.

More knowledge you know, the more experience you have, the more discplined you are.

Sort of like a boxer, he boxes with 100% discpline because he has the knowledge and experience to do so.

A street fighter, swings wildy because he has no knowledge, little experience.

Everybody can trade, but who can trade with "knowledge"? "Inside knowledge?" "order flow knowledge?" "hidden edge knowledge?"

Its not about trading if you think about it.

Its about knowing what 50000 other traders don't know.

btw I don't have enough experience as well so I'm in a similar but different boat.
But I have acquired the other part though.
 
Quote from coolweb:

IMO ,
Trading has little to do with exercises with the mind

and Much to do with conditionioning and KNOWLEDGE.

More knowledge you know, the more experience you have, the more discplined you are.

Sort of like a boxer, he boxes with 100% discpline because he has the knowledge and experience to do so.

A street fighter, swings wildy because he has no knowledge, little experience.

Everybody can trade, but who can trade with "knowledge"? "Inside knowledge?" "order flow knowledge?" "hidden edge knowledge?"

Its not about trading if you think about it.

Its about knowing what 50000 other traders don't know.

btw I don't have enough experience as well so I'm in a similar boat.
But I have acquired the other part though.
More...

I would argue that there are numerous other disciplines in which experience and knowledge would be far more beneficial than in the trading profession. This is not to diminish the value of said attributes, merely to suggest that they are not the be all end all. Let's face facts. A neurosurgeon, a trial attorney, a commercial airline pilot will be able to excel in their given profession for those exact reasons. While the nuances of any particular surgery, case, weather pattern may differ from day to day, there is still a certain uniformity to their practice.

Speculation, on the other hand, can change to such a large extent that the very knowledge and experience that one may have accumulated over decades may prove to be a hindrance as opposed to a benefit. A trader who was long 20 SP futures contracts in October, 1987 or April, 2000 may have permanent psychological scarring. A trader who was short 20 SP futures contracts in October, 1998 might feel likewise. This same individual will have had plenty of "experience" but it could be his undoing in many different markets.

It would appear to me Coolweb that you really have not spoken with many real traders. It would be of great benefit to you if you were to actually speak with veteran traders who have traded thru the 1960s, 70s, 80s, 90s, etc, etc. Talk to a few former exchange members. Listen to the stories they will tell you about fame and fortune, prosperity and despair. Understand that these people who you, in your own naivete, will disparage are light years ahead of you in experience and understanding.
 
All the really successful traders who REALLY know their stuff

such as cohen
neiordohoff
soros
kovoner
tudor jones

All never had a down year for over 15 years.

Which idiot floor traders are you speaking of?

Lots of floor traders have little trading knowledge other then scalping incoming order flow.
The ones that do have the knowledge can see 1987 crashes 10 miles away. Have you seen the volume leading up to the crash?
Obvious to anybody with a brain and two sets of eyes.


You really have no idea what you are talking about do you?

http://www.elitetrader.com/vb/showthread.php?s=&threadid=50754&perpage=6&pagenumber=79

I'm still waiting for you to teach me how to trade

hahaha
 
Quote from coolweb:

All the really successful traders who REALLY know their stuff

such as cohen
neiordohoff
soros
kovoner
tudor jones

All never had a down year for over 15 years.

Which idiot floor traders are you speaking of?

Lots of floor traders have little trading knowledge other then scalping incoming order flow.
The ones that do have the knowledge can see 1987 crashes 10 miles away. Have you seen the volume leading up to the crash?
Obvious to anybody with a brain and two sets of eyes.


You really have no idea what you are talking about do you?

http://www.elitetrader.com/vb/showthread.php?s=&threadid=50754&perpage=6&pagenumber=79

I'm still waiting for you to teach me how to trade

hahaha
More...

son, one day you will read this collection of nonsense you have put together on this place and you will cringe. Mark my words.
 
and fwiw you little ignoramus, you might want to check your facts regarding Victor Neiderhoffer. Of course, you would have to spell his name correctly to get anywhere.
 
are you talking to me? what does this thread have to do with Neiderhoffer? Has he or has he not lost a shitload of his investors money? Facts are facts, jack...
Quote from jackbyrd:

and fwiw you little ignoramus, you might want to check your facts regarding Victor Neiderhoffer. Of course, you would have to spell his name correctly to get anywhere.
More...
 
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