What was the ***last*** thing you had to master before becoming profitable?

TGregg said:
... Which begs the ?, "just exactly which self delusions am I under the spell of?"
More...

You are lucky to be into trading : the market will reflect back to you any self-delusions.

Regarding the politics P&R forum : actually some very honest people there. ;););)
 
Last edited:
JTrades said:
*** bump ***

Anyone else qualified to answer this question, now that it's 2015?
More...
For the longest time even though I finally computer back tested, had right stats, developed ongoing Trading Plan, had enough confidence in myself to keep doing it each day. Losing for many years in Futures taught brain well to identify losing trades first, it liked losing trades and I would always go into major anxiety attack when I started to get winning trades, so I think last or more like ongoing problems to overcome was confidence of myself and I am not trading by luck or wicked sting of profitable days, this actually took very long time to overcome. You either become the Roadrunner or the Coyote.
 
HurricaneUS said:
If you can't hit the button then you do not have an edge...that's your natural defense mechanism preventing you from doing further damage to your account...usually one's fear of taking a trade is warranted because you don't have an edge and it would be wise to listen to it

that psychology mumbo jumbo is just that...crap....anyone that has ever had a good edge that just grinds out profits day after day don't encounter fear-based issues and know what I'm talking about..to the contrary you're itching to take the next trade

if you're always a nervous nellie before taking a trade then you need to re-examine your edge
More...
There were times when even Livermore was off his game, not necessarily because the market wasn't accommodating, but because he was in a funk. He was considered the best in his day, when his head was on right. So if a legendary trader can occasionally doubt himself and find himself out of the zone, then I imagine it can happen to lesser mortals as well.
 
Nighthawk said:
In my case it´s the unbelievable, frustrating, staggering and deeply depressive ability to miss my exit prices for one tick in futures markets, a fifth of a decimal in Spot FX or a price unit in equity markets.

That lead to a so-called frustration-agression behavior throughout my trading career in which I destroyed countless laptops, computers, screens and mouses.

And before some smart a$$ comes up with the comment: why did you not change your exit prices and added a "buffer".

I did.

Result: I missed the buffer prices for a tick, too.

To be clear here: I am not talking about missing a couple of hundred bucks in profits. No, I missed millions in profits.

For quite some time, I thought it´s all about a curse!

Maybe one day, I will write a book about my experiences. I think it will be a hell of a read.

Good luck to all "tick missers". You have my absolute sympathy!

Nighthawk
More...
Nighthawk said:
Legendary trader. Legendary fund. Legendary strategy.

Too bad there are no more "newbie" Paul Tudor Jones like traders around. Traders with passion, skill set and the ability to strike at the right time.

Only quants running around with their "factor models"....
More...
:D
 
Be receptive to any and all the information you can for a good period of time...this gives the trader brain a "base". Then be receptive to a point in time where you need to cut off the umbilical cord and "go live away from the herd"...listen to no one for a good amount of time...try to create a new analyses or put a major twist on conventional analyses! Be independent, creative, and truly think outside the box! This has been my path...FWIW!;)
 
It's looking like the last thing was FINALLY being able to enter with short term momo, rather than switching off due to too scared.

It's going up BOOM Long, ohhh it's no longer going up, Boom Exit.

Don't make it any harder!!
 
For me it was risk mgmt - it gave me a lot of confidence and so far has kept me profitable for 13 out of the last 14 years. It was like a Rocky film where in the big fight he is getting pounded by everything his opponent could throw at him and was still on his feet, he realizes he can win the fight because his defense is strong. Same with me when I got hip to risk mgmt.
 
Last edited:
You must log in or register to reply here.
Back
Top