Trading Without Ego

If the only way to get smarter is to play a smarter opponent... and what you want is to win... then it is best to play dumber opponents...
no shortage of that...:confused:
 
Quote from EON Kid:


By going to the observer position, you can gain perspective and neutrality. Some successful traders move to the observer position when they put on a trade. If you're getting too involved in a trade, move to the observer position and look at it from that perspective. At the end of a given trade or at the end of a trading day, take a look at your trading from the fair witness position.
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not an easy one to execute. I must be gunning at least for 4% of NAV to play by the rules.
 
I have one of the biggest Egos around, but when I go to my office, it is all business past the door, only talk and trade markets. And when I leave, it is tough not to be super happy that I stole a ton of bucks from the inexperienced or large traders. All my friends already know I am an asshole, but I don't flaunt what I have made, but cause I am not in the same financial sinking boat they are in, am considered different.
 
Mark Douglas is good for psychology though a book that sorted me out is not trading related but life related (please don't yawn!)

Eckhart Tolle's "Power of Now" relates not only to your mind conditioning but has a massive effect on your overall quality of life, including trading.

Well it did for me at least. I imagine it would help others out there also in the markets...
 
Did I say it was a bad thing or wrong? To each his own. My opinion of if its bad or good or right or wrong does not really matter now does it, unless it was about me? I simply observed that you were pontificating with your EGO...was I wrong?

Now if you ask me what I think about big or small EGO for me...well that is another story. I would bore you.

Some conditions can cause some to overlook the obvious or live in some sort of illusion or even denial.

ES

Quote from HATEtheRisk:

why is it that people always say that a big ego is a bad thing ???

As a trader i need a big ego, big like a mountain.......

Being an egoist is never wrong. To can help others you first must help urself.

When it comes to surviving even the greatest humbled guy becomes an egoist.
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When I was a broker a long time ago, they gave me an old seasoned trader as a adesk mate. The first hour he told me "leave the ego at the door"
Twenty five years later, the best advice. Didn't realize how complex it was.
 
Hmmmm…. Trading without ego… interesting concept…..

May as well trade without your consciousness…, iow – without your thoughts…, your beliefs.., your emotions…, your very being

Never happen – never


Ego is as much a part of us, as everything else inside us….

So how the hell to separate from it….

Well…, fact is, we don’t

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Every trade I take;

I have the power to let a loss grow too big
I have the power to fight price tooth and nail – and trade the other way
I have the power to get nervous, and exit winners too fast... or not wait on a proper set up… nor take a proper set up once it materializes
I have the power to form an opinion about where price is going
I have the power to overtrade – till I’m blue in the face
I have the power to delude myself into thinking I'm the biggest, baddest trader around

I have absolute power – to blow my account up absolutely… and worse

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But – on the flipside…..

I also have the power to choose not to… and more importantly – to trade each trade – exactly like that….


Master your self first… then mastering the mkt…, your success…, your ego…, your whatever – ain’t nothing but a thang…

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Inconsistent, or non existent profit… OR excessive losses – is simply a mirror of that which is within

Nothing more… nothing less


Here's to you liking what you see... or not

RN
 
Ego

1.
the “I” or self of any person; a person as thinking, feeling, and willing, and distinguishing itself from the selves of others and from objects of its thought.

2.
Psychoanalysis . the part of the psychic apparatus that experiences and reacts to the outside world and thus mediates between the primitive drives of the id and the demands of the social and physical environment.

3.
egotism; conceit; self-importance: Her ego becomes more unbearable each day.

4.
self-esteem or self-image; feelings: Your criticism wounded his ego.

5.
( often initial capital letter ) Philosophy .

a.
the enduring and conscious element that knows experience.

b.
Scholasticism . the complete person comprising both body and soul.

http://dictionary.reference.com/browse/ego
 
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