NoDoji...
- Thread starter ashantt
- Start date
Almost everyone doesn't have trouble carrying out the plan, simply because almost everyone doesn't have a plan. Those who have borrowed someone else's plan have trouble sticking to it because they are not convinced enough from prior testing, if any, that it works in the first place. Their mind isn't receptive to what the plan requires them to do, even though it seems wonderful, and actually may be wonderful. There's a difference between knowing the path and walking the path, as every Neo must find out before becoming The One.
Gringo
I'm not pretending that I'm as able to do this anywhere near the extent I would like to but success in most areas of life, including trading,revolves around being able to Plan The Work And Work The Plan.
It is so easy to admire the brilliant improvisations in life where people adjust on the spot and avert a loss or increase a profit but long haul it costs money.
It is so easy to admire the brilliant improvisations in life where people adjust on the spot and avert a loss or increase a profit but long haul it costs money.
I'm not pretending that I'm as able to do this anywhere near the extent I would like to but success in most areas of life, including trading,revolves around being able to Plan The Work And Work The Plan. It is so easy to admire the brilliant improvisations in life where people adjust on the spot and avert a loss or increase a profit but long haul it costs money.
Good post ND.
Good post ND.
That's great advice. In my early days I used track my pulse and only "allow" myself to trade if my pulse was under 65. That helped getting the nervousness under control and naturally reduced the number of stupid errors.
Ultimately, automation was key for me, but that's probably a personality match.
Ultimately, automation was key for me, but that's probably a personality match.
Great comment and insight No Doji. In time, I believe that many good traders eventually become intuitive (AKA unconscious competence). Plans can be specific or general - enter when this bar appears (specific) or trade with the trend of the sector ( principle). Perhaps in time, you will revisit what you wrote here.
One trick I used is to play classical music while I traded to turn off the fearing and thinking sides. Focus or flow is important in many great pursuits. Now I don't need that crutch any more but I still like music at times. I know the state I need to make money and can go there directly.
Years ago a big loss took a month to get over completely. Now it is rare that it bothers me for more than an hour if it bothers me at all. If it does bother me I stop for the day. I know one trader ( whom I believe) who claims 1 minute to lose the emotion or he exits the trade.
For me, all testing and thinking about planning is ultimately about the trading mind and confidence. When you master your trading self, you will no longer need a plan per sec IMO.
That is perfectly said. Caring is simply the mind popping in again and stepping out of flow.
a quote from
http://www.theguardian.com/lifeandstyle/2013/aug/10/stop-minding-psychology-oliver-burkeman
"Part-way through this particular talk," writes Jim Dreaver, who was present, "Krishnamurti suddenly paused, leaned forward and said, almost conspiratorially, 'Do you want to know what my secret is?' " (There are several accounts of this event; details vary.) Krishnamurti rarely spoke in such personal terms, and the audience was electrified, Dreaver recalls. "Almost as though we were one body we sat up⦠I could see people all around me lean forward, their ears straining and their mouths slowly opening in hushed anticipation." Then Krishnamurti, "in a soft, almost shy voice", said: "You see, I don't mind what happens."