To become a better trader: Passionate vs Making Money

I leave the passion for the bedroom , trading is like taking viagra as you can make it harder than it needs to be :p

Trading is defining probabilities whilst managing the possibilities


Of the top 10 neccessary attributes to make a trader being passionate isnt on my list

Disciplined is #1 in my book , method and patience certainly up there as well
 
Quote from brisvegas:

I leave the passion for the bedroom , trading is like taking viagra as you can make it harder than it needs to be :p

Trading is defining probabilities whilst managing the possibilities


Of the top 10 neccessary attributes to make a trader being passionate isnt on my list

Disciplined is #1 in my book , method and patience certainly up there as well
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I'm oriented towards automated trading so method is higher for me and discipline applies to the area of patience and hard work more than execution of the plan...

To me trading is the world's most interesting math problem. Part of that interest is because there is a money payoff... sometimes I have these narcissistic fantasies about money bringing power but really, money can only take the basics of life to the next level.. better housing, food, vacations, etc..

All things in the Universe go to a lower order of organization without an input of energy and intelligence.. I see wealth as energy, I work on my intelligence all the time. If I find a situation that can be brought to a higher level of organization I have the energy/intelligence to make it happen. That is part of the reward and a duty, really.
 
Quote from emg:

don't you think that is gambling if there is no passion in trading but only focus on making money?
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I believe its not possible to make money without that passion. But even otherwise, it wouldnt be called gambling. Applying an edge and making money - anywhere - would be called business.

-gariki
 
Quote from emg:

Can anybody give the best answer passionate will make u a better trader or making money will make u a better trader and why?


My es day trade is 1 point profit target based on $100K per contract. That is passionate day trade and not about making money.

I am looking for the best answer. Hope this thread will help small traders losing money in trading.
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You need to be passionate about trading in the respect that you have to always be trying to do it better; refining yourself. It's a dynamic game. HOWEVER, to make money, you must be detached and robotic. You must eat, live, and breathe discipline. Do not seek 33.7 on an overshoot when your target is 33.5. You will make more money just taking the non-greedy targets.

Wilt
 
agree,the market is robotic,the top players have ice in their veins,there is no room for passion whilst the market is open,and emg you said traders lose because they think about profit,they lose because they dwell on losses,accept your loss before you enter the trade,if it hits,take it,after taking enough losses ,you learn not to enter low probability trades,you still take losses but not as many,eventually,you trade less and less,and take higher and higher probability trades,your mind is doing the same as a computer,it just takes longer because of the filtering out of the emotions ,the computer doesn't feel bad when it takes a loss and keeps on processing data...as far as money goes,to the computer they are just points in a game..would be nice if you could get your mind to see it that way
 
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