What's missing?

[masterm1ne]

As a manual trader I have had on in the last few days of trading about $4k worth of 1 lot positions on my primary market. However...

I am sure what holds me back are deep rooted fears from childhood - we were very thrifty, never spent much and I was always scared to spend money bc I didn't have any. I never felt I would have enough. It's a completely false reality because I have everything anyone would ever need. (Not only this from studying my past trades I have an insane long bias from which I have no idea why. Years ago it was I think very short biased) The only reason I have had down days in the last week was not considering both sides, mainly not taking shortsales. Of course we all grow up with this mentaility we have to work hard for money, and that's the other part of me - I had to work so hard to get to where I am and it took a long time. I was not conditioned to believe I could make 3k per day by doing something that is easy to my eyes.

I have a trading plan defined in every way that works and I watch the dollar signs roll by but I don't trust myself, I don't trust my plan and I'm too scared to lose. My technical skill is insane. But I don't trust myself. How do you get rid of the fear? I thought having precancerous polyps in my colon at 29 would help me realize that money doesn't matter in life and that I could die soon, then what ever does this shit matter? The only thing I can think is that maybe by the time I'm 35-50 on my deathbed I won't be scared. By then my dream won't matter to me anymore.

 

[murray t turtle]

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Really depends on the market MM ; US stock market tend$ to mostly go up in time,[200 year uptrend] but down moves makes money quicker, but bear market are different.

TGT is in a good bear market downtrend+ has been for years; so a short bias is good on that-really depends on the market. NOT a stock tip or prediction

 

[franT]

Everything is missing. Sorry for the bad news.

 

[murray t turtle]

Everything is missing. Sorry for the bad news.

%%
It could be worse . I see in UK Daily Mail News ; Nile Crocodiles Ambush Zebra, Crossing River[Again] {Edit to correct+ clear}

 

[franT]

If you really want to pursue this trading stuff, instead of taking care of yourself, your health, and your family, here are a few suggestions:
1-Determine a bias or direction.
2-Determine a 100% objective low risk entry.
3-Determine a 100% objective risk/stop point.
4-Determine an ultimate target.
5-Determine a trade management/risk tightening procedure to be followed after you enter a trade.
6-Determine a maximum risk per trade.
7-Forward test the above in a live market with a very small (financially irrelevant) position.
8-Keep asking yourself who and why is on the other side of your trades.

 

[dealmaker]

As a manual trader I have had on in the last few days of trading about $4k worth of 1 lot positions on my primary market. However...

I am sure what holds me back are deep rooted fears from childhood - we were very thrifty, never spent much and I was always scared to spend money bc I didn't have any. I never felt I would have enough. It's a completely false reality because I have everything anyone would ever need. (Not only this from studying my past trades I have an insane long bias from which I have no idea why. Years ago it was I think very short biased) The only reason I have had down days in the last week was not considering both sides, mainly not taking shortsales. Of course we all grow up with this mentaility we have to work hard for money, and that's the other part of me - I had to work so hard to get to where I am and it took a long time. I was not conditioned to believe I could make 3k per day by doing something that is easy to my eyes.

I have a trading plan defined in every way that works and I watch the dollar signs roll by but I don't trust myself, I don't trust my plan and I'm too scared to lose. My technical skill is insane. But I don't trust myself. How do you get rid of the fear? I thought having precancerous polyps in my colon at 29 would help me realize that money doesn't matter in life and that I could die soon, then what ever does this shit matter? The only thing I can think is that maybe by the time I'm 35-50 on my deathbed I won't be scared. By then my dream won't matter to me anymore.

That is the crux of the trading puzzle "mastering self" thus "To be a money master, you must be a self master" - J.P. Morgan.

 

[Xela]

I thought having precancerous polyps in my colon at 29 would help me realize that money doesn't matter in life and that I could die soon, then what ever does this shit matter?

I suppose the colon's the right place for shit to matter, if anywhere is?

Here you make a very good point, though.

I suspect that technically, all colonic polyps are "pre-cancerous" in that the incidence of colonic carcinoma is increased, collectively, among polyp sufferes, but that it doesn't necessarily signify anything worse than a slight statistical correlation, in any individual, specific instance?

Alarming, though, I can see.

Probably all of us (and especially those who, like me, post semi-regularly in a forum) tend to spend too much time on things that don't really matter much?

Your post serves as a reminder of that, and I wish you well with your follow-up colonoscopy.

 

[Sprout]

I have a trading plan defined in every way that works and I watch the dollar signs roll by but I don't trust myself, I don't trust my plan and I'm too scared to lose. My technical skill is insane. But I don't trust myself. How do you get rid of the fear?

Everyone has the solution to the problem of their own making.

Keep making 3k a day for a couple of weeks.

Consistency increases confidence.


Whenever I feel fear while being in the markets it's because there is something happening that I don't understand.

The markets are always willing to give one a healthy dose of hubris.

 

[Overnight]

...How do you get rid of the fear? I thought having precancerous polyps in my colon at 29 would help me realize that money doesn't matter in life and that I could die soon, then what ever does this shit matter? The only thing I can think is that maybe by the time I'm 35-50 on my deathbed I won't be scared. By then my dream won't matter to me anymore.

That's the real trick, isn't it? Trying to figure out when you are going to die, so you can plan ahead on how to enjoy the rest of the life you think you have left.

Fear of death is what has been driving most of forward-thinking humanity for tens of thousands of years. This is deep stuff, and it is evident in our trading patterns.

And if you do reach the ripe old age of 50? You're still going to be scared shitless, because at age 50 you will still have those dreams of "success". The cycle never ends until the day you do not wake up from your sleep.

 

[2weels]

[QUOTE="
I thought having precancerous polyps in my colon at 29 would help me realize that money doesn't matter in life [/QUOTE]

If you get scoped regularly (check Medline and WebMD etc for frequency but with pre-c polyps every year or two) it will never be an issue. You may have to shop around for docs, they vary widely in how often they recommend scoping, so you may have to use more than one. Just don't put it off for a few years.