She said: you short and it goes up, you do not buy it and it goes up. If we rule out the horizontal move, what she is saying is that she is wrong 2 out of 3. That is why some use > 3:1. A plan could make; a winning trader better and a trader with an edge profitable. I do not think a plan would make trader with no edge profitable.
Wyckoff's Monster
- Thread starter green.green
- Start date
She said: you short and it goes up, you do not buy it and it goes up. If we rule out the horizontal move, what she is saying is that she is wrong 2 out of 3. That is why some use > 3:1. A plan could make; a winning trader better and a trader with an edge profitable. I do not think a plan would make trader with no edge profitable.
not making jest of his efforts, in his first post he sounds like he thought this out,just stressing importance of making macro a strong image in your trading assessments and the sticky emotional taffy to avoid
ammo - I agree with all of your points. Macro is important even in day trading and could be the difference between marginal and exceptional results. In my poker days I spent a lot of time working on my emotional game well after my strategy was well developed. IMO it's a harder than parking a car. I still have to do regular maintenance to keep my emotions under control.
It reminds me of a story I heard about a guru in India who could walk on water. One day a businessman saw the guru do this and thought about all the different ways he could make money if he could master this technique. The businessman asked the guru, "can you teach me to walk on water?" to which guru replied, "It is easy. All you need to do is mediate for half an hour an evening for thirty days, but whatever you do don't think about monkeys." The businessman thought this sounded a little too easy to be true but decided to give it a try. Each night he sat down to meditate and each night the image of a monkey crept into his mind. As the month unfolded thoughts of monkeys kept increasing until soon all the businessman could do was think of monkeys.
I think you get the point. Just like you can't use willpower to fall asleep, I don't think you can will yourself to not have emotions.
you could do the same with trading, thoughts of monkeys popping in your head would be much less distracting than emotions
not making jest of his efforts, in his first post he sounds like he thought this out,just stressing importance of making macro a strong image in your trading assessments and the sticky emotional taffy to avoid
i am not making jest////i am just stressing///// one little trick i do
one little trick to block out emotions is to take the I,Me,My out of every post,being aware of and completing the task is a small exercise to keep the shut off emotion screener turned on in your head,hopefully taking the I,MY, Me out of your trading decisions
i am not making jest////i am just stressing///// one little trick i do
one little trick to block out emotions is to take the I,Me,My out of every post,being aware of and completing the task is a small exercise to keep the shut off emotion screener turned on in your head,hopefully taking the I,MY, Me out of your trading decisions
ammo - I appreciate the comments as always. Somewhere along the way you got the idea that I struggle with emotional control - most likely because of the video I posted. I don't personally think emotions are a factor in my trading. My biggest hole is that I haven't done enough work in applying AMT to SLA which causes me to over-trade. Even worse - the market hasn't punished me for this so far. A lot of this has to do with shortcomings in my current approach to pre-market analysis. I also need to do work on maximum excursion on my entries and work on staying in trades rather than hopping in and out.
I'm targeting these holes as time allows and forward testing the system to improve my understanding of supply and demand in real time.
controlling,squashing emotions is one of the hardest things to beat,along with discipline as a trader,all the trades are in your head,we all need to create a traders head that we wear when the markets open,that's streamlined like the tape and undistracted, when trading your multi tasking
Far easier and healthier to trade emotionlessly. Anyone who tries to make a career of this while in constant battle with his emotions is going to have an unnecessarily tough time of it, if he ever succeeds in making a career of it at all.
Evaporate your emotions and it all becomes much easier.
people tell a lot of small white lies,medium,large...just human nature..in most jobs the people u are talking to are doing the same thing,trouble is you are fooling yourself,and if you do that in trading,its lethal..... its an ego issue about people trying to put on a good face or front......also human nature..probably a defense mechanism...still lethal...in this job...would be interesting to here your take on the winners you met in pro gambling and how they were different from the not so lucky
FWIW - I used to think it was largely about controlling emotions, ego blah, blah. because that is what you read and everyone tells you.
Personally I think that is relatively easy - its a job....every job has its ups and downs. If we did not kick ourselves for our mistakes we would never learn, if we were not upset or overjoyed by things what a shit life. Think about life if we did not have desires and fears.
They are essential to operate as humans.....and in any job the key is doing more of what we are good at and naturally find easy and are skillful at, and less of those things that damage the task at hand.
You wont eliminate emotions, you cant even suppress them for any great length of time as willpower is limited and those nasty buggers will find a way to bite you on the butt somehow.
2 cents. - Key is controlling and understanding expectations.
Personally I think that is relatively easy - its a job....every job has its ups and downs. If we did not kick ourselves for our mistakes we would never learn, if we were not upset or overjoyed by things what a shit life. Think about life if we did not have desires and fears.
They are essential to operate as humans.....and in any job the key is doing more of what we are good at and naturally find easy and are skillful at, and less of those things that damage the task at hand.
You wont eliminate emotions, you cant even suppress them for any great length of time as willpower is limited and those nasty buggers will find a way to bite you on the butt somehow.
2 cents. - Key is controlling and understanding expectations.