The Four Major Fears

Quote from Cheese:

A deep laugh at that comment.
Could be so true.

Truth is, to a smaller or greater extent, each and every one belongs to the human condition and humans are parading animals.
:)
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Most of us come deeply flawed. In some professions that emotive "nuttiness" can be a great asset. Trial lawyers, actors, ect. And yes I think creativity and the ability to think outside the box, counter intuitiveness, is very important in developing trading skills. I've never met a successful trader who didn't possess intrinsic intelligence. But like sports this is a game of inches. Total concentration. A soon to be free agent outfielder can't come to bat thinking he needs to hit more home runs if he's to land that big off season contract. Rather he has to stay in the flow and look for a pitch he can handle. Electronic trading has made everyone a "major leaguer." Guy's think, "cool, all I need is a pc, a charting package and an account and I'll be set for life." It should be so easy.
 
"I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain."



-Frank Herbert, Dune, "Litany Against Fear", 1965
 
Good quotes. Certainly fear causes anxiety and anxiety causes panic. But one must ask himself. What do I fear? Do I fear losses, or do I fear not making money? If one fears separation from money this is once again a dangerous game. A suicide bomber doesn't fear losing his life. Unfortunately that makes him a most formidable enemy. People who lose have a reputation of being reckless with money. Nothing could be further from the truth. They lose because of attachment to money.
Quote from futurecurrents:

"I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain."



-Frank Herbert, Dune, "Litany Against Fear", 1965
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Quote from Pabst:

.....They lose because of attachment to money. [/B]
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Yes, they say the best traders don't place too much emphasis on the money. It is more a way to just keep score.

In keeping with the crazy trader theory ,it is probably true that a certain devil-may-care attitude is an asset in trading.

I must say the hardest part for me currently is managing my emotions. Trying not to feel disappointment with every little move down of my equity curve. I'm trying the coping method whereby one stands outside oneself and observes the person in front of him (himself) do the trading. If I get angry or fearfull I'll
step outside myself and make fun of me and my rantings. I'll say to myself," Look at that fool. Doesn't he yet know that this trade is just one of thousands. That success or failure is not measured trade by trade or day by day."

Be Spock
 
Quote from hans37:

fear and greed


greed is just fear that what you have is not enough.

So in my opinion it's all just fear.
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Yes, well said.

In my case, greed was simply the fear of missing out ( on a move). It kept getting me into sub-optimal trades for the first several years of my career as a speculator/trader. Curiously enough, even at the time my conscious mind was aware of this fact but was unable to stop me from engaging in this type of behavior. :confused:
 
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