Greetings Again Gabe,
Granted, Iâm no shrink, but I have spent enough time with my own âgrey matterâ to be able to see the similar condition in another. So I will attempt to answer your questions and statements:
Your Question: âWhat gave you the above idea?â
My Response: If you were watching a baseball game of your favorite team, and you were able to see the future, and you already knew that your team was going to win the game, would you ever get excited about your team being down by 10 runs in the 9th inning?
I was able to glean a sense of where your âmindsetâ might be by your âintense and emotional focusâ on the results of your last individual trade, vice where it should have been, which is on the âflawless executionâ of all your trades. And only then, evaluating your results after a statistically significant series of trades has been executed.
Your Statement: âYou may be right but I am not consciously aware of it. Maybe you can elaborateâ.
My Response: You cannot assume that learning about something new, and even agreeing with it totally, is the same thing as believing it at a level where you can consistently and effectively act on it. The two are not the same. I have found in my trading experience that there is:
1. Seeing something â Nice but you donât know it yet.
2. Knowing something â Better, but you donât fully understand it yet.
3. Understanding something â Best, but you donât OWN it as yet.
4. OWNING something â When you know, and you know that you know, and your results consistently demonstrate this beyond a shadow of a doubt, then you can say that you own it. In my experience, I have found that only after a series of âAh Ha momentsâ over time, do you really come to OWN something.
Statement: âWhat I do suffer from is the desire to be right or conversely, not wanting to be wrong.â
My Response: The idea of âbeing right or being wrongâ has absolutely no place in your trading mindset and psyche. They are indicative of the fact that your trading âCenter of Focusâ is not properly set on what it should be, which is the âflawless executionâ of your trade. When operating from a âright and wrongâ perspective, your energies will be improperly directed on making YOURSELF, and each individual trade âRIGHTâ. This will likely cause the introduction of ârandom variablesâ into your trading regime which will act to dilute your trading series.
The result, you will never learn what works on a consistent basis. Youâre attempting to hit a moving target, from an unstable platform, with floating sights. It is not likely that you can win this game. It is the evaluating of your âresultsâ after a statistically significant series of trades that will determine what needs to be âresearched and studiedâ to improve your overall performance in the next series. In this regard, your learning and development as a trader thereby becomes a process. And I might addâ¦an enjoyable one at that.
Your Statement: âincidentally, I just made a deal with 1 of my friends in which I have to pay him every time I don't enter a trade by my rules.â
My Response: This is not a good thing to engage in while learning to trade. It grants an âopen invitationâ to ego involvement in each and every one of your trades. Your âCenter of Focusâ may shift to trying to prove something, vice learning to flawlessly execute your trade. I suggest that you withdraw from this needless distraction.
Once you discover the truth, or at least what I have come to know as MY TRUTH, that for me, with the appropriate "mindset", trading is a: âPattern Recognition with Probabilities Numbers Gameâ. All of these things will begin to fall neatly in line,.....and then things should become easier.
Hope this helps.
KDASFTG
