Secrets to success in trading

[Cswim63]

My trading got better and I became less prone to overtrading when I started posting my trades in ET.

 

[Cswim63]

Another thing I learned was called "Going to the well once too often." See above re: Obvious Trades.

 

[Cswim63]

If you want to know how we think, watch the scene called "So you're saying there's a chance" from the movie Dumb and Dumber.

 

[smallfil]

My mentor used to say that people lose because they want to. Thats what comes to mind. If someone has hidden conflict and can't feel their feelings, they are going to sabotage themself. I mean, that's all of us to some degree, but I've seen better and worse. I have a friend who taught me a simple pattern she knew. She is very smart, but is no longer trading. She takes her own ideas, some of them right, way too seriously. She told me in 2007 that BearStearns was probably going to go bankrupt, and that Goldman was selling everyone toxic stuff. Anyway that stays with me cause she never made any money from it. Gotta let that stuff go and just trade what is in front of you.

Wow. To think she would have made a killing had she bought put options on Bear Stearns. That would have put thousands of dollars in her pocket. When it gapped down, that gain on the put options was huge!

 

[smallfil]

My mentor used to say that people lose because they want to. Thats what comes to mind. If someone has hidden conflict and can't feel their feelings, they are going to sabotage themself. I mean, that's all of us to some degree, but I've seen better and worse. I have a friend who taught me a simple pattern she knew. She is very smart, but is no longer trading. She takes her own ideas, some of them right, way too seriously. She told me in 2007 that BearStearns was probably going to go bankrupt, and that Goldman was selling everyone toxic stuff. Anyway that stays with me cause she never made any money from it. Gotta let that stuff go and just trade what is in front of you.

Never had a mentor so, had to learn everything all by myself. Made a lot of mistakes and learned from them. Learned risk management which is the most important thing to learn for any investor or trader. I taught myself how to trade options. Now, directional options trades for me most of the time.

 

[Cswim63]

By then she was on to the next conspiracy theory. It's not that her information was bad, she just had too much of it.

 

[smallfil]

If you want to know how we think, watch the scene called "So you're saying there's a chance" from the movie Dumb and Dumber.

Will definitely, watch that movie. You mentioned gratitude, do you believe in The Secret and the Law of Attraction? I do!

 

[Cswim63]

Never had a mentor so, had to learn everything all by myself. Made a lot of mistakes and learned from them. Learned risk management which is the most important thing to learn for any investor or trader. I taught myself how to trade options. Now, directional options trades for me most of the time.

Well, kinda the same for me as far as trading. My mentor taught me how to think, he taught me a way to think that made it possible to disregard or unlearn all the crap I learned in school.

 

[Xela]

when you can triple a demo account three times, then maybe you are ready to do real time, otherwise you are bait.

LOL - I don't disagree with you at all, needless to say; but when I tell people that they're maybe ready to trade a funded account after they've at least doubled a demo account twice, each time over a minimum of 300 consecutive trades, they typically laugh at me and think I'm being far too demanding and pedantic about it. "Just saying" ...

 

[Cswim63]

Will definitely, watch that movie. You mentioned gratitude, do you believe in The Secret and the Law of Attraction? I do!

I've only just heard of The Secret. But as far as Attraction and manifestation, of course. I don't do enough work along those lines. The best example I ever heard was the late Jimmy Sloman and his experiences coming to Chicago to trade. I got to work with him at a Van Tharp seminar back in 1991. He gave a talk about his Chicago experience. It's on the internet, maybe Youtube.