Since I began my venture of learning about and trading markets, I have gained tremendous insight into psychology, mental blocks, etc. I've realized that to become a trader you have to be a self-confident, self-aware, and constantly self-improving person. These are all traits with far-reaching usefulness that extend beyond the markets; I'm curious who has become a better person in ways that don't relate directly to the markets as a result of the markets. I haven't traded long enough to post any examples other than mycompletely letting go of societally imposed notions on limitations for how much money I can make by what age and the fact that my trading education journey has lead me down the path of self-discovery and self-improvement as well as forced me to study discipline and seek help about my flaws. These aren't results, though - I'm curious what tangible improvements people have had from trading.
The Effects of Trading Psychology Outside of Trading
- Thread starter PinkBunny
- Start date
To be a pro you must be arrogant, rude and egotistical.
It also helps if you are from and/or reside in New York or Chicago...
It also helps if you are from and/or reside in New York or Chicago...
My educational resume has a quite a few psychology courses on it. So what I am about to say is based on something other than being a smartass. I never embraced Maslow when I encountered him in the textbook. It seems to me that all the self-improvement stuff (which is rooted in Maslow) that has bombarded popular culture during the last few decades is simply an attempt to bring deeper meaning to secular humanism and therefore elevate it. Trading has not changed me or my interactions outside of trading. Trading has allowed me to be myself which is borderline autistic which I knew before I took the survey found on this thread which may or may not be a valid survey.<p>http://elitetrader.com/vb/showthread.php?s=&threadid=66588
I know that my trading journey has been a real eye opener, one really get to find out what is inside of one's self when faced with the markets. Gotta love the brutal truth. I am finding strengths and weakness in myself that I never knew existed and I KNOW that my trading skills will carry over into other aspects of my life. I am extremely happy that I embarked on this journey, even though it hurts sometime.
Since I started learning how to trade(about 7 years ago), I become more realistic and see the world as it is. I know my own opinion has very little value so I don't take it seriously. I become a more happy person as I don't try to fight with the reality . This is another gain that trading gives me.
There seems to be some truth in this. I have found that in the past 7 years, I have become much less tolerant of people who won't take responsibility for their problems, and I'm more likely to call bullshit when I see it. My social circle has changed somewhat and I tend to hang out with people who are further right than my old groups. I have also become less tolerant of people who hold whacko beliefs (blacks should be legislated out of existence, Hitler was a genius, it's immoral to blame anyone for any bad act because of early childhood trauma, etc), and luckily there are a few of them on here upon whom I can vent my feelings.
There is a thin book written by Ruth B. Roosevelt called "12 Habitudes of Highly Successful Traders". Habitude #8 is Abundance Consciousness: Scarcity is at the root of trading problems. For some people there is just one pie (zero-sum-game), for others there is plenty for all. Trading changed me to recognize that we have indeed an abundance of opportunities. So, one single trade is important, but when it is done it's done, just one in a long row, there is always another chance. The same in relationships: There are lifelong bonds (eg. if you have a daughter or a son). But if you meet someone, start to fall in love and it does not work out. So what, take the hit, cut losses short and get your act together for the next opportunity - just sitting there especially for you
I remember selling most of my things. I recall not wanting them.
I suspect holding on to the big house and all the stuff is my way of seeking comfort in the nonchanging past. I remember embracing change. I recall stopping losses of all kinds. I remember feeling wonderful as I cast off the burden.
Now I live on the beach, take naps, go fishing and ride my bicycle. I feel life is more fun now. I live in the moment of now.
I think my life is better now than ever.
I suspect holding on to the big house and all the stuff is my way of seeking comfort in the nonchanging past. I remember embracing change. I recall stopping losses of all kinds. I remember feeling wonderful as I cast off the burden.
Now I live on the beach, take naps, go fishing and ride my bicycle. I feel life is more fun now. I live in the moment of now.
I think my life is better now than ever.