Your Own Worst Enemy

[The Oracle]

people will argue based on their experiences for that is all they can do. for the trader (new or already on the way) who wants to get better results then the trader must look at their own personal circumstances and abilities. it is very important to get the order correct as ability can be of no use if the circumstances do not support same.

there are arguments for and against in relation to simulated trading. it is a must to learn about charting and placing orders for both entering and exiting trades. if a trader is unable to place the same emphasis on a paper trade as a real live trade then simulated trading is of very little use beyond the former mentioned.

however there is one thing that is certain in the markets no matter what you know or think you might know and that is that the market can do anything at any time. if a trader is able to react to market changes then the ability to hold on to the money that has already been made from previous trades becomes a reality. too many traders give back way too much and then wonder what is wrong?


as one has also rightly said (most of the things we do, we do for no better reason than that our fathers have done them or our neighbors do them, and the same is true of a larger part than what we suspect of what we think).

 

[Redneck]

Quote from The Oracle:

however there is one thing that is certain in the markets no matter what you know or think you might know and that is that the market can do anything at any time.

if a trader is able to react to market changes then the ability to hold on to the money that has already been made from previous trades becomes a reality.

too many traders give back way too much and then wonder what is wrong?

As does the ability to dig out of any hole one finds one's self in

Think about the serenity in that statement

RN

 

[The Oracle]

your own worst enemy may not be yourself at all but may be those whom you look to for advice or guidance. what makes a person think that others know certain things that will help them make money even though they have had no experience of making money from what others have said?

the mind works in mysterious ways and it is best to realize that the outcome of your actions are a direct result of how you react to information that is presented to you by others. if you think that others know more than you then you will be easily influenced. if you think that others know a lot less than you then you run the risk of being over confident in what you think you know.

the best approach is to not think about what others say at all but to learn how to react to what you see happening in front of your two eyes. if the close is above the open then the price is rising and likewise if the close is below the open the price is falling. how fast the price will rise and fall depends on many different things but the only thing that matters is how fast you can react to what you are seeing happening if front of you. if you are a scalper using a tick chart then you must look at different things than if you are a daytrader using a 5 min chart. there is one common thing that all traders should look at when trading and it has already been mentioned by a few different posters.

 

[Areding]

Some people tend to fail because their parents didn’t support them from their very childhood and constantly denounced them, children grow up unsure of themselves and do not expect success in their subconscious

 

[themickey]

Some people tend to fail because their parents didn’t support them from their very childhood and constantly denounced them, children grow up unsure of themselves and do not expect success in their subconscious

And the children's parents fail too.
As the child grows into adulthood, they will often not attempt to contribute to the parent's success.
If you want the best for yourself, treat others with respect and the flow of love comes back.

 

[Overnight]

And the children's parents fail too.
As the child grows into adulthood, they will often not attempt to contribute to the parent's success.
If you want the best for yourself, treat others with respect and the flow of love comes back.

Children will fail if they click on your avatar pic, like I just did because it dawned me that something did not look right with your pic of Mickey Mouse. I was right...

I like yer style, dude. We need to party.

Oh the mental trauma we are causing! Teehee!

 

[themickey]

Children will fail if they click on your avatar pic, like I just did because it dawned me that something did not look right with your pic of Mickey Mouse. I was right...
View attachment 196294
I like yer style, dude. We need to party.
Oh the mental trauma we are causing! Teehee!

I didn't want a pretty picture avatar of the mouse, as it's just not how I behave at times, hehe.

 

[Buy1Sell2]

Do you ever wonder if you secretly want to fail? It's hard to believe, but some people do want to fail. They may not want to do better than their parents, and secretly they set themselves up for failure. Others fear success. They associate success with added responsibility and they want to avoid responsibility at all costs. But if you're like most people, you want to succeed. For whatever reason however, you find you make trading mistakes that result in losses. There are times when you are your own worst enemy.

There are a number of ways that you may be your own worst enemy, but here are some common ones.
Many novice traders risk money they can't afford to lose, and understandably, feel on edge as they execute and monitor a trade. You can't concentrate very easily when you are agitated. In order to trade calmly and rationally, it is vital to trade only with money you can afford to lose. In addition, it is important to manage risk, so that you minimize the amount you can lose on any single trade. If you truly have nothing to fear by losing, you'll feel more relaxed. You will trade effortlessly and you won't make as many trading errors.

Don't miss sleep. When you're tired it's hard to concentrate. When you are worn out or tired, you are understandably ready to lash out or feel extreme frustration, even when you face a minor setback. Concentration requires energy, and you don't have adequate energy to trade when you are tired. So get the sleep you need to stay alert and ready for action.

Don't trade by the seat of your pants. Many novice traders don't map out their trades in enough detail. They don't decide beforehand where to enter or where to exit. When they actually try to execute the trade, they find it difficult to stick with their trading plan because it is unclear and difficult to follow. They don't know exactly what to do and when. And so they panic at critical moments of investing. Carefully outlining a plan and following it will help you avoid costly trading errors.

Trading is hard enough. You don't need to sabotage your own efforts. By trading with money you can afford to lose, staying calm and rested, and by following a well-defined trading plan you can stay at the top of your game and take home profits.

https://www.elitetrader.com/et/threads/the-market-cannot-defeat-you.83397/