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Psychology and Money Management

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Millionaire in 10 weeks & Conversation with broker

  #242 (permalink)

Detroit MI/USA
Trading Experience: Advanced
Platform: Tradestation
Favorite Futures: All Futures
Posts: 13 since Sep 2017
Thanks: 3 given, 30 received

I haven't spent much time on this forum in the past but checked in due to Mike's email about this thread. After reading through this thread, I might spend some more time here as I might be missing out on some great bunfights and some sage discussions regarding trading. This thread has been quite amusing to say the least.

I am quite bemused at how experienced traders are getting so bent out of shape owing to what Merlin is attempting to do and how he is responding to some of the advice/posts.
As traders, we have all been through the ringer at some time in our career, and some of us, fortunately, have come out the other side successfully. Some haven't yet found their own success, but are seeking it in whichever way they believe they need to. Fellow traders can assist, give advice and attempt to help, but if someone is not willing to accept all that, so be it. It is unnecessary to kick and shout and insult in order to "ensure" our advice is heard and taken to heart. If the recipient of our advice chooses to continue along the pathway they believe is correct, they should be allowed to.
By threatening, sulking and throwing tantrums by trying to get Merlin banned is really quite silly - that's what 2 year old kids do - we as adults and actually more so as traders, should have or develop far thicker skins. We should not be offended so quickly - there is far too much other strife in the world than adding to it in a traders forum.

I personally believe, and for me it was an actual defining moment in my trading career, that you have to hit rock bottom, with multitudes of errors in various aspects of one's trading (be it strategy related, money management related or most importantly psychologically related) before you can actually see the forest for the trees and become a successful trader. It is the ultimate journey that one needs to traverse to become successful. Same as drug addicts and alcoholics - they have to hit rock bottom before they eventually turn the corner. It might be how our genetic makeup is woven into us!

This thread, like any others, should be allowed to run its course and let Merlin meet all the demons that are waiting at the end of the journey. If he manages to see through those and fight through them, he might become a successful trader. If not, he can simply just join the huge heap of wannabees who unfortunately couldn't make it in the hardest career on the planet.
Everyone should just relax, get the popcorn and read whichever threads they find interesting. I have to say I have sat reading this thread with a smile on my face! Thanks to all those that have posted.

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