Quote from MartinT:
I found self sabotage the biggest challenge i had to overcome, on the road to consistent profits, when i truly understood emotional risk management and self analysis, my profits soarded. Trading in a peak state also helped a great deal. How important is emotional control and being able to trade in a peak state?
In answer to your two part question:
Skip the "emotional control".
Skip believing you have to be in a peak state.
The "self sabotage" you were experiencing is common to all beginners such as yourself. You know from your training what the basis of this self sabotage is. If not, inquiry and I will inform you.
For most, RISK has sources. For you, it is the unknown of two things as you state. 1. market knowledge and 2. a personal lack of self awareness.
To become a licensed broker takes six weeks of classes; to become sufficiently self aware takes some formal assistance and not classes of any sort. Brokerage classes involve learning about the rules and regulations of the business of the market. You do not learn to trade by getting a broker's license. How do you learn to trade??
If you have no profits before you have profits, then you can conclude there is an infinite difference by simply making a ratio where the denominator is zero and see a "soaring" difference on a before and after basis.
Now you have a mantra for some purpose. I do not have a mantra for some reason or other.
You are now focussed on being stong and ruthless. This is very humourous from an NLP viewpoint.
It almost sounds like you are trading in the dark on the plains of Africa where the lions and tigers roam about looking for lunch.
What is the cure for this state you have created for yourself. Who knows.
Plain and simple, you have not as yet experienced making money in the markets. Were I you I would cruise around a bit and find some guys to hang out with who nail the market day after day.
It is not a "strong" and "ruthless" atmosphere. If anything it is a relaxed and humourous atmosphere with a flavor of debriefing thrown in just out of a love of the markets.
When do you think you will see the first vestages of the love of trading (not the love of gambling). Will it be because you have several places where you contribute capital and you're on a couple of 501 (c) (3) finance committees?
Why is an expert crew of traders in a room trading giving the feeling of being relaxed and feeling humourous?
Try these on for size.
Great traders are always running ahead of the market like enjoying sailing when there's a "breese". Breese means the boat is in a wind that allows the boat to show its stuff. the hull and sails are strong and the skipper is an excellent boat handler because he knows what he is doing. He loves sailing his boat under steam. Skippers are relaxed and they feel their ship under them and it speaks to them through their senses.
There is humor in the markets every minute of the day.
As always there are several concurrent games being played by an asortment of guys who are "telegraphing" their trades. In ET you can read some of them in the chat room I am told....lol....
watching the DOM and seeing the single tick chart and the stretch and squeese of the cash and YM is one of the most continuous and humorous experiences of the day....all day long.
Whos at a peaking state during this? You are. Others are laughing at the people who think they are faking others out.
When you are front running smart money and being pushed by the heard all day long, it just gets plain humous for it to be happening all over again. You also have the full knowledge that every time you make a move too whatever that you can correct it when realized and you pocket a little cash as you do it. We operate in an anti whipsaw mode it turns out. It is something that has a tinge of humor about it.
People who trade and who are trained in NLP don't have NLP clients. Joab is trained and he uses his training to make money more ably because he has a basis of knowing how the markets work and as a consequence, he uses NLP to his advantage.
There are very very few people who are trained in NLP who areable to help traders simply because they are not expert traders. So why can'y you become an expert trader? Who knows. Don't ask your NLP trainer.
