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Some highly recommended books

  #465 (permalink)

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Absolutely! I’m with centaurer on this one in that it may be one of the greatest books I have ever read.
There are so many examples I could cite from that book but one of my favorites is the chapter on happiness. It absolutely blew me away. Basically, to summarize a great and detailed chapter in a few sentences:
The new age theme is that happiness is not an external condition but rather what you feel inside (because Buddha said it). And that you must pursue happiness because you deserve it. After all, if you feel good then whatever you are doing to stimulate these fleeting vibrations of pleasantness, must be good right?

Wrong. Suffering comes from the relentless pursuit of what you think you deserve. All the literature, videos, gurus, media, public icons...basically everything we as consumers see and hear, tells us to follow our dreams, do what feels right, you deserve better, just do it..etc and from this we impose certain expectations on ourselves.
And thus begins the neverending personal crusade, as we embark on a journey of self discovery towards an imagined holy grail of enlightenment, health, wealth and happiness. We think we are on the right path but its exactly this pursuit that is the root of suffering! I can never do it justice but that book explains the concept beautifully.

So what does this have to do with trading? Self imposed expectations are the root of all evil. You think that because you have logged 10,000 hours of screen time, and you meditate every day, and you have money management skillz and price actions skillz and youve read the books, and you have other badass skillz...that you're going to 'get it' as soon as you overcome this one last hurdle that has been holding you back (The theme on this forum lately has been the monkey brain). Do you see what you're doing? You have expectations of success and you are pursuing. This doesn’t mean you shouldn’t have a well formed point of view, but it means you should consider your point of view as temporary (Tigertrader said that).

From what Ive learned, you never reach a point in trading where you have made it, but rather you are always learning.
You don't pursue a method or approach that will make you successful but rather you do whatever is necessary to get the job done. Your only edge comes from consistency and good money management. Thats it! THats the holy grail.

I don't know why but that chapter helped me 'get' that concept.

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