- Which aspect of your mindset has contributed most to your trading success?
The Double Bind...
https://en.wikipedia.org/wiki/Double_bind
The entire fabric of the financial markets, of public forums, of friends, of family, is to induce a double bind on the next person, this is the general day to day activity of life, of social trends, of influences, of marketing, and of money.
You will find people, here, there, and everywhere saying x or y or z about what I say, the fact is most people are inducing double binds for many varied reasons (lack of their own knowledge, control, mistakes they made, mistakes others made for them, their education, their family upbringing), a few are "inert" but they quickly remove themselves to get out of the way, and a rare few break binds, for example.
The financial markets will make sure that you have 92% probability of loss 92% of the time.
This breaks the double bind of everything you will read about trading, about investing, about money, and actually follows what Buffett says in a more direct way, it's a fact very few can break their own double binds, and not many more can break them for other people, I can break a 20yr bind in 2yrs, while the other 18yrs people spend that time trying to make sure they don't regress, but that's out of your control.
If you take that the financial markets learning is 10,000hrs (today it's more like 20,000hrs), most of that time is money management, and most of that is breaking your own personal double binds, which is why people like Buffett who started with capital and without any double-binds on them succeeded where few others could.
The single most powerful double-bind of the past decades and centuries is the double-bind of wanting more, it's the primary failure in trading and the markets, everyone is taught the world is your oyster, and yet it's far from true, the moment you want more very shortly after events will make sure your profits and then your underlying capital are placed at risk.
You just have to want what is planned, not more, not less (actually up to 20% because the markets need their spreads and fees - this comes with experience), now via this you can produce market busting profits because you probably don't know that it's been researched a few days make up 95% of the profits for the year, obviously the world will say you can't time the markets, but is that another double-bind or factually correct, apparently only a few know
