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Scattered thoughts...
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Created: by Lornz Attachments:26

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Scattered thoughts...

  #41 (permalink)
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Massive l's Avatar
 
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Lornz, why are you leaving your online presence after the 1st of the year?

side note - I'm 50% Norwegian. I take a pride in my roots.
Lefse this morning for breakfast was most excellent.

Psychology > Strategy ≥ Money
 
  #42 (permalink)
Urban Samurai
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Lornz View Post

I only bring this up because I feel it is relevant to the thread. I have never understood other's struggle with discipline or psychology, but that is probably due to my "defect".

I have felt this way for over a year. I think people CREATE emotional problems with regards to their trading. It is much easier to blame your trading failures on some self-induced emotional/discipline problem, then it is to acknowledge that one simply does not yet know how to identify a likely profitable scenario.

I think people manage to jack themselves about thinking that they just need to master their emotions to become profitable, instead of realizing that they don't know how their market is moving. This is probably one of the nice things about the markets as it will always ensure that those that KNOW what they are doing will continually make money while those that DON'T will continue to look to things other than understanding their market, such as their feelings.

The above circle jerk I describe is a ride I am familiar with unfortunately .

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  #43 (permalink)
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Lornz View Post
The main difference is that ToM is an intellectual task for me, while others have it intuitively. What you call ToM, I call strategic thinking. The fact that I am more emotional detached than most, is just positive as far as trading goes. It seems people often let their emotions get in the way of logical thinking. It also means that I often find social relations to be meaningless and/or exhausting. Just in case anyone thought I was trying to portray myself in a too positive manner.

I only bring this up because I feel it is relevant to the thread. I have never understood other's struggle with discipline or psychology, but that is probably due to my "defect".

Well, I can tell you that on some days its quite a struggle! Detaching from emotions and focusing your attention on rational reasoning and strategy would certainly seem to give one an advantage where discretionary trading is concerned. Although I agree with @forrestang completely that it is quite difficult to learn how to trade profitably even taking emotional issues completely out of the picture. Early on I fell into the camp of blaming my lack of profitability on emotion/psychology to a much larger degree than warranted. Now I'm working through the emotional trading baggage I picked up along the learning curve.

Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
 
  #44 (permalink)
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Massive l View Post
Lornz, why are you leaving your online presence after the 1st of the year?

side note - I'm 50% Norwegian. I take a pride in my roots.
Lefse this morning for breakfast was most excellent.

Cool! Since du are 50% Norwegian, betyr that at you forstår 100% av this setning?

I haven't had lefse in years, but now I'm craving it. Did you sprinkle it with cinnamon?


forrestang View Post
I have felt this way for over a year. I think people CREATE emotional problems with regards to their trading. It is much easier to blame your trading failures on some self-induced emotional/discipline problem, then it is to acknowledge that one simply does not yet know how to identify a likely profitable scenario.

I think people manage to jack themselves about thinking that they just need to master their emotions to become profitable, instead of realizing that they don't know how their market is moving. This is probably one of the nice things about the markets as it will always ensure that those that KNOW what they are doing will continually make money while those that DON'T will continue to look to things other than understanding their market, such as their feelings.

The above circle jerk I describe is a ride I am familiar with unfortunately .

Exactly! I've alluded to this several times before, but people tend to get very defensive when confronted with the possibility of their system not being good enough. As you said, many beginning traders are chasing their own tails. After doing this for some time, they often end up convinced that it is impossible to for a retail trader to make money. Alternatively, they become a vendor or frequent fora talking the talk, desperate to be perceived as knowledgeable. And, even worse, these people actually give advice to new traders.
I would argue that the same skill required to separate the good advice from the bad on fora, is similar to what it takes to extract the information relevant from the market.





Surly View Post
Well, I can tell you that on some days its quite a struggle! Detaching from emotions and focusing your attention on rational reasoning and strategy would certainly seem to give one an advantage where discretionary trading is concerned. Although I agree with @forrestang completely that it is quite difficult to learn how to trade profitably even taking emotional issues completely out of the picture. Early on I fell into the camp of blaming my lack of profitability on emotion/psychology to a much larger degree than warranted. Now I'm working through the emotional trading baggage I picked up along the learning curve.

A valid approach will eliminate nearly all psychological issues, but developing one is not necessarily easy. Yes, methods can be simple, but the path to them might be paved with complexity.

Eric Berlow: How complexity leads to simplicity | Video on TED.com

Personally, I think traders would be wise to learn more about market structure and macroeconomics, if only to gain a little clarity of the framework within they are operating. It’s hard to have confidence in a system if one doesn’t know why it should work, and, more importantly, its place in the "ecosystem".

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  #45 (permalink)
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Lornz View Post
Cool! Since du are 50% Norwegian, betyr that at you forstår 100% av this setning?

I haven't had lefse in years, but now I'm craving it. Did you sprinkle it with cinnamon?

ha! yes I understand that but I'm not fluent in writing/speaking Norwegian.
I will be soon enough though. Right now I'm much better with Spanish.

I just put butter and sugar on it but cinnamon would be a nice addition!

Psychology > Strategy ≥ Money
 
  #46 (permalink)
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Massive l View Post
ha! yes I understand that but I'm not fluent in writing/speaking Norwegian.
I will be soon enough though. Right now I'm much better with Spanish.

I just put butter and sugar on it but cinnamon would be a nice addition!

Excelente! I am terribly at Spanish; Lornz is not short for Lorenzo...

I assumed you put butter and sugar on it/them, but cinnamon is well worth exploring. It's what the culinary Norwegians do, though. It's not for gastronomical simpletons!

It seems I forgot to answer your question in my previous reply: I'm leaving simply because I don't feel that I get much out of it anymore. I've been lucky enough to have met a trading partner, so I feel less inclined to post on public boards now.

I am also a full-time student and trader, so I don't have as much time to waste on the internet. And, as I am studying mathematical finance, I find other fora more interesting. I might lurk from time to time, but I need to cut back drastically.

 
  #47 (permalink)
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Norway's Butter Shortage - The Colbert Report - 2011-12-12 - Video Clip | Comedy Central

Damn you Americans for making fun of our misery. I will be able to eat any cookies this Christmas....

Can any readers of this thread send me a few pounds of quality butter?

 
  #48 (permalink)
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Lornz View Post
Norway's Butter Shortage - The Colbert Report - 2011-12-12 - Video Clip | Comedy Central

Damn you Americans for making fun of our misery. I will be able to eat any cookies this Christmas....

Can any readers of this thread send me a few pounds of quality butter?


@Lornz:

I think that there is a way out of your misery:



How to buy a reindeer: Instructions

1. Contact the Reindeer Owners and Breeders Association. They can let you know what to expect when raising a reindeer and tell you about breeders who have reindeer available for sale.

2. Email or phone the breeders you are interested in to find out about the reindeer calves they have for sale.

3. Decide how soon you want to take possession of your reindeer. Some breeders will allow you to take the babies at a young age if you are willing to do the bottle feeding yourself, while others prefer to wait until the calf has weaned from his or her mother.

4. Find out from the breeder what you will need to successfully raise your calf to an adult reindeer. He or she will be able to recommend dimensions for a reindeer pen, optimum diets to feed your growing calf and how to protect your new pet from chronic wasting disease.

5. Take possession of your reindeer calf and plan for Christmas celebrations featuring your new friend!



Now you have got plenty of milk which you can use to produce reindeer butter.

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  #49 (permalink)
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I had planned to get a lot done on my journal this weekend, but, due to other discussions on this board, I have not been able to. Instead I'll post another video:

This talk by Dr. Al Bartlett is very transferable to trading, and it is, I think, well worth watching. The problems of overpopulation and over-consumption are very real, and things will get regulated one way or the other.

"The Greatest Shortcoming of the Human Race is our Inability to Understand The Exponential Function."


 
  #50 (permalink)
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Excellent news:


MIT launches online learning initiative
'MITx' will offer courses online and make online learning tools freely available.

MIT launches online learning initiative - MIT News Office

Stanford started a similar program last fall, be sure to sign up for next semester's classes (scroll to the bottom to see all available):

Computer Science 101

I've enjoyed OpenCourseWare for years, and this is a natural next step. I applaud the universities for offering such courses; the future looks bright for knowledge-hungry individuals.

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