Thinking is 95%

schizo said:
Well, think of it this way. Do you believe you will get a better quality sleep if you were sleeping in a multi-million dollar mansion as oppose to your 2 bedroom apartment (figuratively speaking)? Maybe for a few days, but over the long haul, it won't make much difference.

If you don't know how to be content with what you already have, no amount of money will fill that void.
More...
Hello schizo,

I do not ever want a multi-million dollar mansion in my life.

I am happily content with EVERYTHING I have in life. I can stop trading today, and be MORE THAN happy. no problem here at all in the personal life.

But when it comes to futures trading, I just want to make ALOT of money. I mean, that is my passion man.

I could be different and do not care, but if I can not make +$500K a year, then trading the futures market just makes no sense to me. I am wasting my precious time.

That is just me. I want to win and I want to win big. I want to conquer this trading game. I wanna win man.

I am have said alot of time. We are beyond bless to be able to trade the futures market man. Beyond bless.
 
NoahA said:
As much as this is perhaps 50% a joke, I wonder about the other 50%. Your suggestion was certainly irrational, since the cat should have no influence at all, except of course if its a distraction, and in which case, simply closing the door to keep it out would have been a good solution. But the fact that you're expressing a concern to your wife and she doubles down on what you identify as the problem means that perhaps one day it will be the wife that has to go!

No joke there either. If your wife isn't supportive of what you're doing, and instead tries to sabotage you, you're gonna have a much bigger issue than simply not hitting your original profit target.
More...
Not sabotage, maybe she was trying to help. Don't jump to negative conclusions.
"See honey, it's not the cat"
"I got another cat so Ben would have someone to play with and not distract you"
"I named the other cat Lucky so your luck would return"
 
SimpleMeLike said:
Good Morning mikeriley,

Great write up. I think we all have our personally issues with trading in generally. I respect everyone trading journey in the reach for success and trading goals obtaining.

For me, I believe, 100% of trading for me is recovering drawdown and getting account back growing upwards. All that other stuff risk management, trade method is easy. 3 losses in row happens, then the real battle and fun begins.

There is no getting around it, we have to fight strongly when trading and passionately love being a winner everyday and the master and king. We have to want to be best. The winner of everyone. This is a business of being the master. My thought process is always every day "ES, I am going to kick your ass today and win"

Everyday must be a winner when trading the NQ and ES. No such thing as a losing day. This is the only way to master the trading and we have to hurry up and do it. Because if we take forever, the brain start thinking we are losers and our family and love ones will say we are losers traders, what is taking you so long to be millionaire. We must have plan to show them million dollar account or close to it.
So, how many years in a row have you made a million dollars?

Trading the ES and NQ is about becoming rich as fast as possible.

The problem us a traders have is, we do not want to believe what I just say. We want to play with trading. This is not play time. this is serious warrior jungle fighting. Get to a million dollars in one year, are just face defeat year to year.
More...
 
SimpleMeLike said:
But when it comes to futures trading, I just want to make ALOT of money. I mean, that is my passion man.

I could be different and do not care, but if I can not make +$500K a year, then trading the futures market just makes no sense to me. I am wasting my precious time.

That is just me. I want to win and I want to win big. I want to conquer this trading game. I wanna win man.

I am have said alot of time. We are beyond bless to be able to trade the futures market man. Beyond bless.
More...
upload_2023-1-29_20-34-39.png
 
OMG, you went into a slump. I was wondering
what happened to you since I didn't see any of
your posts lately.

Aren't you doing futures? Why don't you just
decide however much money you need and get
out of the trade at that point. Is that possible?

You say your wife trades also, are the two of
you competing? Could that be the problem.

I am still doing regular day trades, although
I am going to start options soon, I just funded
my TDA account and I'm so excited to do my
first options trade.

Anyway, I know how much money I want to
make each day and structure my trades to
make it happen. Some days are better than
others, but it helps to have a plan.

If I get out of a trade early it doesn't bother
me as long as I made my goal.

I hope that this phase is temporary and that
you will bounce back profitable.

Your cats are cool, although I'm a dog person.

I need the pet to obey my commands. Kind
of how I like my people.
 
mikeriley said:
This is of course just my humble opinion (I'm trying to be humble):)
The more I trade the more I realize I'm not just trading the markets,
but trading against myself or with myself. The end of last year I started
making some bone head mistakes and went into a slump.

Part of my strategy is to hold a position for a certain amount of ticks.
For some odd reason, I got into fear-based trading, and started closing
my positions or trading out of positions before they reached my target.

The drawdowns were no worse than before, but I kept closing the damn trades.

My P/L turned to sh@t from this activity. The worse part I was trying
to find blame with activities outside of trading. I even told my wife
maybe it's our cat influencing me to make mistakes and we should
get rid of it. My wife responded by getting another cat! LOL:wtf:
Cat pics posted below.

I stopped trading for a few weeks and only played in simulation.
After much introspection I realized I had changed my thinking
style when in a trade. I have a mantra I repeat in my mind
when trading. Without realizing it, I stopped using my mantra.

The mantra is harmless, but it keeps me in a trade.
As soon as I started using my mental mantra again,
my trading started improving.

I believe, at least for me, trading is 95% thinking
and psychology. The rest is strategy/tactics
and risk management.

Tuxedo cat name is Ben - Ginger cat name is Lucky
View attachment 305047
More...

I think you mean
upload_2023-1-30_19-6-18.jpeg
 
You must log in or register to reply here.
Back
Top