pain and suffering to achieve a goal is a lot easier when you're too young to realize that you are in pain and suffering. And the brain plasticity helps as well as the fact that there is less pressure to be an adult and pay bills. Approaching the goals and the learning as play also takes off the edge of suffering for a new goal. How hard must it be for an adult to learn to read and write. I'm assuming just as hard as it was for me as an adult to try to read music, takes years, and I still barely can.
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I was ready to give up at one point (about six month ago), but than I got the tutorial "why traders lose" by market geeks, it really helped me to put my reaction to trading losses in perspective.
So many things that I was doing wrong were exactly as he (market geeks guy) said in his tutorial, its like he was talking about me!
I took a while to digest it but afterwards I tried to change some of my negative feelings about my losses and had the guts to try again.
It is working, at least for now!
If one makes the same mistake(s) and simply redoubles their effort, they will only dig themselves deeper into the pit of despair. Hard work is useless if your game plan is hardly working.
The first time I wrote a set of rules for my trading plan was 12 years ago when I traded FX. I wrote and wrote and wrote. Endless were the plans but never satisfied I continued to write. When I thought I found a plan that would work, it would only last for a couple of days when I realized I had misjudged my rule-based trading plan.
Having spent good money on having my junk coded over the years, I actually began to learn what worked and what did not work FOR ME. Systems abound and probably would work given time and discipline. But I could not and would not be satisfied until I understood myself as a trader - my style of trading, defined risk, preferred market, chart-style(s) and time frames, platform and IB. Indicators, no indicators. Blackbox, greybox or discretionary trading.
Time spent writing all those apparently useless trading plans were not useless after all. I wrote my own book, produced my own lab reports and learned why I now trade the way I do.
I am always interested in a checking out a "new" indicator but alas, I only trade with one. After all those years, a lot of of "educational expense" I discovered what finally works FOR ME.
Numerous, too many to count, were those times I felt like quitting and not writing another trade scenario then endless hours attempting to perfect it only to be disappointed, again. Yet, I did not quit because I love trading. However, getting away from the game for a day or two helps balance my thinking and presents new trade ideas as the mind cogitates.
Is this an addiction? I suppose anything you really enjoy can become that. Gambling can become an addiction or anything for that matter if you allow yourself to fantasize to the point of always needing it as an escape from reality. Trading is that for some. A sober mind does not allow a trader to fantasize about what has not yet happened. On the other hand, the thought of being financially independent can reignite one out of despondency and doubt.
I can report that my trading plan to date has been in development over the last 3 years as I have stuck with it. It is profitable and increasing with profitability as I have stuck with it. In fact, I am continually amazed at how much trading information I can get from one indicator. No, I can not share that indicator because it has taken 3 years to develop it.
In those early years, thoughts of giving up were common, especially when I lost money and accounts. During those times, I would just re-determine and recommit to the task at hand. It truly was do or die, at least it felt that way at times. Strange to hear someone talk that way but not if you have walked the way of most traders.
Begrudge quitting if you must!
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Question for you: did the shoes Micheal Jordan wore truly make him jump higher? Did Tiger win all his majors because of the equipment he played with? talk about how indicators hold some type of "secret" is laughable.
I do not agree with the example. MJ shoes helps him to make better performance, with shity equipment Tiger would not won major games, that is for sure. Ofc you have to be responsible for selecting indicators, putting trades on the table, and you have to agree on this, and believing some "secret" about that the indicators going to win your trades without your supervisoring is make no sense...
what differentiates MJ's shoes vs his defenders shoes? little to nothing. same thing with indicators. you should be able to trade without them. understanding of context *knowing which participants control the market* is everything.
Last edited by mabr0408; January 29th, 2014 at 10:21 AM.
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