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The Invisible Hand That Limits Your Trading
- Thread starter Rande Howell
- Start date
Quote from Redneck:
Jff
Why not take a shot â and share with us how to get to trading nirvana
Please
RN
Yeah! Let's you and him fight! RN, this is like men and women. Liberals and conservatives. Yankees and Southerners. It is pointless to argue with weepies. Bet he doesn't own a gun, either.
Quote from Duref Mudgins:
You are forgetting that when the coach was in his prime he was probably better than those he coaches now. So my assertion stands. You want to coach? You had better at some time have played a top game.
I always thought the best coaches were the ones who were average players, at best. That seems to be the case if you look around the sports world. I'm not even sure if it's a good comparison to a trading coach.
This guy isn't claiming to teach people how to trade, per se. He's helping people deal with psychology, which many would say is the most difficult part of trading....and why trading so interesting
Quote from jjf:
This statement is typical of a person who has encountered an arena of win/loss for the very first time.
They have bravely stepped outside a safe existence and been hit by the harsh reality of win/loss.
Moving beyond this point is where the game becomes interesting
At last I agree with you. But I think it can still happen to you in a paradigm change or with oddball price patterns. The market throws a lot of curveballs to keep the majority off balance.
Quote from olias:
I always thought the best coaches were the ones who were average players, at best. That seems to be the case if you look around the sports world. I'm not even sure if it's a good comparison to a trading coach.
This guy isn't claiming to teach people how to trade, per se. He's helping people deal with psychology, which many would say is the most difficult part of trading....and why trading so interesting
Good points. I'm not a jock, so I don't know. But when I wanted to learn bridge, I found the best player I could who would give me the time of day. When I lernt French, I hired a native speaking University professor as tutor. When I wanted to get into system trading, I took the late lamented Eddie Toppel's seminar. Learning ANYTHING new is painful. The best way to learn is to start out winning, or at least not losing badly. Taking your time to develop systems does that for you. Once you got a winner and you have watched it win, you don't need no stinkin' psychology.
I think what it comes down to is this. If you aren't already mentally tough, you have no business starting daytrading. Or swing trading. Or position trading. Or even investing. Experienced traders here would probably advise noobs not to start, but we need their liquidity. And psych coaches are IMO just taking noobs' money. Of course, we do that, too.
From working with other people, I have discovered that many trade for different outcomes or reasons, matter of fact, I would ask all questions after awhile and if the answer wasn't why I trade, I didn't work with them. Some trade cause they want others to look up to them like gaining some kind of respect in the trading community, so want another similar respect from friends and family as they finally achieved success after so many years of failure to make profits, some trade as having a different career. And if this or other reasons were anything different from why I trade, they are trading for the wrong reasons and probably will never be successful in this business. You have to sometimes have an evil streak within you, especially when you trade futures, cause if you are not doing it for the money.....