My Wyckoff journal
- Thread starter damnpenguins
- Start date
The shear amount of uncertainty and risk which exists in this business is staggeringly sobering
Humans are just not naturally equipped to operate in such an environment
It do take a goodly amount of work to wrap the ole noggin around it..., you'll know when you're getting close - because it will literally scare the shit of of Ya
That's when it vital you keep pushing forward and work through it
Now..., you know it / of it..., at a conscious level - it still a concept of sorts
When it seeps down to your core (subconscious level) - that's when the real work.., and fun - begins
It can absolutely be assimilated - just going to take work..., acceptance..., and trust in yourself
Drink a beer or two for me Sir
RN
Precisely.... I know it as a concept. I'd be the first to admit that whilst it is there at the top of the heap, it hasn't sunk in 100% yet!
MD says that active beliefs Demand Expression, so clearly anything that requires a conscious reminder isn't a core belief yet.
Any suggestions moving forward on that goal? Was there a specific catalyst that worked for you in this area? Either from MD or not.
BTW - interested to hear what you think of the new book! I can only find a kindle version at the moment....
Go to bed…, wake the next day changed???
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Truthfully – I can’t.., nor would I…, because
We are each unique
We have different beliefs
Then again…, we have similar – but to varying degrees
We have different biases and perjuries
Then again…, we have similar – but to varying degrees
We have varying degrees of / to / for – receptiveness.., change…, ideas.., understanding.., learning.., interpreting…, deciphering
We have varying degrees of stubbornness…, hard headedness…, resistance to change…, changing
And we each developed our self – through different paths…, experiences…, influences…, growth…, nurturing…, environments
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Here's what I will say:
Beliefs are nothing but energy – they can be activated / deactivated / created
They can never be completely destroyed / eliminated / erased
But they can be reduced to an extent where they no longer play a role in us
Convince your self – beyond any shadow of doubt – there is uncertainty…, there is risk…, no one knows…, no approach / methodology can predict future human behavior
That the above - never ceases…, nor reduces
Then identify / de-energize the beliefs contra to this…, create / energize beliefs that align
Work through the fear and pain that effort creates (it a natural part of the process for each (pain and fear) and will serve to imprint the new beliefs into the subconscious)
Implement em into your everyday way of trading
It’ll take time…, work…, effort
It means getting to know you…, understand you…, your beliefs…, likely the root of said beliefs
It means objectively looking at you…, identifying…, accepting…, resolving (which means becoming at peace with.., not necessarily fixing) beliefs which are not conducive to the mkt’s facts.., to conducting yourself as a professional trader
It means tearing down…, rebuilding
Ultimately…, it means becoming at peace (alignment) with the mkt…, your beliefs…, you
I can suggest various tools / techniques you can use
I cannot tell you the specific steps you’ll need to take – to get there
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One cautionary note
Create / energize the wrong beliefs – it will take 4X the amount of work…, that it initially took to create it / them…, to reduce and replace with the correct one(s)
The 4X…, to my knowledge…, has never been published / substantiated – it comes from my own experiences of fucking it up…, needing to redo…, then redoing
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A lucky few were born into a trading family…, or exposed to the environment at an early age – they grew up surrounded with the appropriate mentality which resulted in building the appropriate beliefs
For the rest of us shitheads – it takes work to get there
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Here’s where you need to get DP
Each signal our approach / methodology produces is unique…, as each moment in the mkt…, as each trade’s outcome…, as each future participant’s action(s)
Uncertainty.., risk – never go away
No matter the consecutive number of wins / losses (the consecutive part is what trips us up)
We define the risk…, we honor the SL.., we systematically take profit…, we move on
Each one…, is separate and unique…, from the last one – no matter how many similar one’s.., we’ve experienced / just experienced / will experience
How hard you going to make it on yourself to get there
RN
Thanks for that RN, once again very much appreciated.
You said:
Please understand that I was not asking for anything to do with the latter. Tools, techniques exercises etc was the main driver behind the question.
We all learn and integrate new knowledge differently, sometimes an innocuous suggestion from the most unlikely of sources can be the trigger, or the catalyst....
That was the intent behind my question.
I won't add any more to this post, I'll just leave it saying that there is so much in your response that I've taken in.
Many thanks!
You said:
Please understand that I was not asking for anything to do with the latter. Tools, techniques exercises etc was the main driver behind the question.
We all learn and integrate new knowledge differently, sometimes an innocuous suggestion from the most unlikely of sources can be the trigger, or the catalyst....
That was the intent behind my question.
I won't add any more to this post, I'll just leave it saying that there is so much in your response that I've taken in.
Many thanks!
I have found that to be true for myself. I don't necessarily believe it true for everyone. But if you hold the opinion yourself, then it is likely going to be true for you as well.
It because I understand where you are - I'm being somewhat gentle with my next
The folks I hang around have a mantra
What ever it takes..., for as long as it takes..., by any means necessary
You're are on a mission..., never allow something..., or someone - to get in the way of accomplishing that mission
You have a question of me.., or a request - never back off from asking / requesting
I'll either answer... or decline ..., and no matter which - let's both be straight up
Nuff said about that
Let the work begin
Get several sheets of paper and a pencil - find a quite space..., get comfortable.., have an introspective..., and brutally honest conservation - with yourself
At the top of the first piece of paper write:
Issue:
Then write down the issue; example - I move my stops
List only 1 issue at a time
Below that write:
Because: List every because (to the issue listed above you can think of)
I don't like to lose
I think losing is same as being wrong
I do not like being / admitting I'm wrong
I think my approach can predict future human behavior
so on.., so forth
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Then on subsequent pieces of paper
Take one of the because - write it at the top of a different piece of paper (as the issue)
Write down each of its because(s)
Repeat this process until you can drill down no further - this is the root of the initial issue listed
Resolve it - recalling - resolve does not necessarily mean fixing - it does mean becoming at peace with it
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Notes
During my drilling down - I uncovered unresolved issues with a person since dead
To resolve - I wrote a letter to that person and filed - I still that letter to this day - the unresolved issues were put to rest..., and have remained at rest
I also uncovered issues (past indiscretions) which I simply had to forgive myself for - I did..., wasn't easy to - but I found a way
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What did my crap have to do with me trading - no clue - I simply followed where my journey's path led
I've no clue how the mind works - I just know it does - on its own level..., and on its own agenda - most of the time which is oblivious to our consciousness
That is until we act out and can't explain it
The loss we hung onto too long
The revenge trading
The missed trade(s)
The fear we won't act in our own best interest (iow we don't trust our self)
on... and on..., and on
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So..., here is tool number #1..., now.., get to the nut cutting
Btw..., never hesitate / back off again
You're on a mission
RN
Half way through it - will let you know once I finish
Yeah - it only offered via kindle at this point - but you can download kindle for PC (which is free and the way I went) - then read it on the ole PC
RN
Gotcha. Cheers!
I remember seeing you outline that process in other posts but couldn't find it. I am very grateful.
Something you said within that post hit me like a tonne of bricks. I know what I have to do now. Thankyou.