Why do We Make Trading so Difficult?
- Thread starter Flashboy
- Start date
Hi Flash,
I ask a lot of these questions in my head. I used to tell myself like every books that I don't gamble, I follow my rules and grind it out. Then recently I started reading Barry Greenstein's "Ace on the River." Fuck this "I-am-not-a-gambler" crap. I am a fucking gambler, it is fucking dangerous and I am gonna treat it as such... It's kinda liberating for me when I accept all the imperfection THEN work from there. I don't know what I am babbling about.
Good trading. Nice to hear from everybody.
I ask a lot of these questions in my head. I used to tell myself like every books that I don't gamble, I follow my rules and grind it out. Then recently I started reading Barry Greenstein's "Ace on the River." Fuck this "I-am-not-a-gambler" crap. I am a fucking gambler, it is fucking dangerous and I am gonna treat it as such... It's kinda liberating for me when I accept all the imperfection THEN work from there. I don't know what I am babbling about.
Good trading. Nice to hear from everybody.
Difficulty makes one feel special
Strange as it may sound it is true.
Consider if you are the one who struggles and triumphs does that not make you feel special, worthy or masterful?
If it were easy and anyone could do it then you would not be anymore disciplined, or smarter would you?
Consider how every non trader reacts to your workstations. "Wow! that looks cool and complicated. etc."
Consider the person who thinks they are suffering yet perservering. Some people like it because it is an excuse for why they don't succeed.
Consider if you were suceeding. What type of responsibilty you would have. People looking up to you as a master etc. The moral responsibilty to not be an materailistic person who defines themselves with what they own and not who they are.
Tough questions. Most people never even get to ask them, they just keep on making reason why they are not sucessful in life.
I can offer this. When you can buy anything, after awhile you might realize that you don't want "stuff". What you want is peace of mind that makes you truely happy like a 7 yo kid without a care in the world.
--Best of luck.
Luto
Strange as it may sound it is true.
Consider if you are the one who struggles and triumphs does that not make you feel special, worthy or masterful?
If it were easy and anyone could do it then you would not be anymore disciplined, or smarter would you?
Consider how every non trader reacts to your workstations. "Wow! that looks cool and complicated. etc."
Consider the person who thinks they are suffering yet perservering. Some people like it because it is an excuse for why they don't succeed.
Consider if you were suceeding. What type of responsibilty you would have. People looking up to you as a master etc. The moral responsibilty to not be an materailistic person who defines themselves with what they own and not who they are.
Tough questions. Most people never even get to ask them, they just keep on making reason why they are not sucessful in life.
I can offer this. When you can buy anything, after awhile you might realize that you don't want "stuff". What you want is peace of mind that makes you truely happy like a 7 yo kid without a care in the world.
--Best of luck.
Luto
VST,
I enjoyed the story...printed a copy and gave it to my high school aged son (who can have quite an attitude at times
).I am fighting some similar issues that you noted in a prior post. When I follow the rules I have set out for myself, I do okay. The problem comes when I enter a position that was not as a result of a trigger from the rules. The problem get compounded when I recognize what I did and do not immediately close the position.
Flashboy's initial question can in some sense be equated to dieting/losing weight. The principle is simple...consume fewer calories than you expend. Most people know this but do not have the discipline to act or follow through. After years of being overweight, I finally have gotten over that hump. Just hope that it does not take as long with the trading...
JD
Trade your plan and learn to take losses...do not protect yourself from your feelings...Taking a loss is just a positioning opportunity for a future gain...
Michael B.
Michael B.
Quote from JDAndy:
VST,
I enjoyed the story...printed a copy and gave it to my high school aged son (who can have quite an attitude at times
I am fighting some similar issues that you noted in a prior post. When I follow the rules I have set out for myself, I do okay. The problem comes when I enter a position that was not as a result of a trigger from the rules. The problem get compounded when I recognize what I did and do not immediately close the position.
Flashboy's initial question can in some sense be equated to dieting/losing weight. The principle is simple...consume fewer calories than you expend. Most people know this but do not have the discipline to act or follow through. After years of being overweight, I finally have gotten over that hump. Just hope that it does not take as long with the trading...
JD
JDAndy,
The easy part is writing the Rules....and I do have Written Rules....not in my head. The hard part is actually following the Rules. It took me awhile....but from the day I really started following my Rules....I have been successful.
Even following my Rules....I still have losing trades....but now....I have a very high percentage of winning trades. Before my Rules....somedays I might win 5 out of 10 trades....other days....2 out of 10....and occasionally maybe a 8 out of 10. I was on a roller coaster....with my trading....and with my gut. Some days I would take trades that I knew I shouldn't be in.
Now....I make money consistently. I have losing trades....just like anyone else....but not near as many. Being a Scalper....you can't have too many losers.
Many traders would disagree with me on this....but....I have a "net" daily goal....and when I reach that goal....I stop trading. Why? It goes back to the days when I was Over Trading....be up a lot of money in the morning....be in the hole by the time the trading day was over. And that was eating me alive....I couldn't sleep....had health problems because of it. Now....I have no problem sleeping....always feel good when I get up to trade. Before....without sleep and worrying....am I going to screw up again today. That doesn't happen anymore. I made a Rule....that states: "when I reach my "net" daily goal....I will stop trading". That story has helped me with my Rules and Discipline.
VSTscalper
learning how to take a loss is probably the hardest thing to learn how to do - and it can be one's most expensive lesson to learn in trading