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2 Cent Psychology


Discussion in Psychology and Money Management

Updated by mattz
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2 Cent Psychology

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Posts: 2,480 since Sep 2010
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I strongly believe that effort whether psychological or physical requires reward if expectations were met.
You MUST reward yourself for hard work, and not just feel good inside.
Reward, in my personal opinion should manifest itself in the physical realm.
This is how you reinforce positivity and get your physical and mental mind used to doing things right way in your field.

If you did anything where you met expectations reward yourself with the thing you love the most.
This is not just in trading but in anything that is a challenge.

As a trader, let's say you followed your plan and ended up with a profit while immaculately executing your method.
Then, reward yourself. Buy a book if you like books, go to your favorite expansive restaurant that you don't go to often, buy a shirt you wanted, whatever.....
Naturally you can choose a time horizon for your goals that is weekly, monthly, etc

Why did I started this thread, and might even be the 1st here (?!)
This is after I read many journals here with a focus on the negative.
I have noticed that many guys here became like a support group every time traders break down with a full confessions of what a horrible day they had...How they are not disciplined, and they over traded, life is over, etc.
Then everyone comes together in one big support group while giving comforting advice along with technical advice and their two cents. It is almost became popular on futures.io (formerly BMT) to write how bad you did.

The essence focusing your journal on your weakness will reinforce it subconsciously.
When you have awesome days, share it more and write exactly what you did well.
Again, this could reinforce subconsciously to repeat those things you are doing well again and again.

I hope this helps you, and nothing here was meant in a way to put down anyone.
This is how i write and words sadly have no passion in forums.
But, what I write above will help you. 100%

To your success,
Matt

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Posts: 2,480 since Sep 2010
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artemiso View Post
I go by the rule that you should only spend from compounded profits (the profits you made on profits).

And that is fine. You now at least associated positivity with your outcome, given your condition.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email support@OptimusFutures.com
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