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Purposeful Drivel
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Created: by GaryD Attachments:10

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Purposeful Drivel

  #51 (permalink)
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GaryD View Post
Try this thought. "I am willing to spend x to find out.". Because, you think it is an unusual opportunity. What you have been looking for. If your stop gets hit, you did your due diligence, and move on.

Scaling in and trading different/larger time frames helps, also the forum

 
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Itchymoku View Post
For me the wait is the hard part in part because I have no boss like with other jobs. There is no one on my back so there becomes a thin line between waiting and procrastination.


The best trades are obvious. Outside of that are varying degrees of decent and made up trades.

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  #53 (permalink)
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GaryD View Post
The best trades are obvious. Outside of that are varying degrees of decent and made up trades.

Do you believe that decisions in life can be treated like trades or would you say that treating things in life outside of trading with the same mindset is just asking for trouble or craziness?

 
  #54 (permalink)
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Quoting 
Do you think it's okay to treat other problems in life the same way you'd go about making trading decisions. Would you think that since I spend so much time learning how to trade effectively it would be efficient to use these same thought processes to make decisions in life or do you believe taking these concepts is the wrong way to go about solving something completely different in nature. Do you believe the basics of trading can be reduced down to the basics of life almost like a fractal?


My take:

No, definitely not.

Trading and the markets is / are a raw tribal place, unlike life where there are costs associated with leading life your way.

Trading allows you to create externalities.

In economics, an externality is a cost or benefit which affects a party who did not choose to incur that cost or benefit.

You can kill huge and others will be handing you their full purses without so much as uttering a word.

Trading is about self control and staying on course.

Life is only mildly about self control. Stubbornness may or may not get you anywhere in trading but it will certainly do so in real life.


Actually as long as you learn something in trading it can be only this: it is Simple. Life needs to be a lot simpler and raw for it to be really like trading, something that I don't see happening soon.

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  #55 (permalink)
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iqgod View Post
My take:

No, definitely not.

Trading and the markets is / are a raw tribal place, unlike life where there are costs associated with leading life your way.

Trading allows you to create externalities.

In economics, an externality is a cost or benefit which affects a party who did not choose to incur that cost or benefit.

You can kill huge and others will be handing you their full purses without so much as uttering a word.

Trading is about self control and staying on course.

Life is only mildly about self control. Stubbornness may or may not get you anywhere in trading but it will certainly do so in real life.


Actually as long as you learn something in trading it can be only this: it is Simple. Life needs to be a lot simpler and raw for it to be really like trading, something that I don't see happening soon.

Thank you for your detailed response, this is just the type of answer I was looking for. Not that I was looking for this answer specifically but you answered the question in a very reasonable and effective way that I was hoping someone would. I appreciate that you've taken me seriously and this will help me grow.


Last edited by Itchymoku; December 14th, 2013 at 05:12 AM.
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  #56 (permalink)
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I used to play a lot of inner-city pick up basketball. One term we used was "telegraphing", related to a pass, usually, but could be any sort of head-fake. The better players saw it, or did it.

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  #57 (permalink)
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Pre-FOMC makes for a good mean reversion day. Estimates of both the top and the bottom worked very well today.

Post FOMC trading, is tomorrow...

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  #58 (permalink)
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nailed two fucking markets today. Piper, and Piglet. Traded both at the same time too

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Here comes another year. I made my shopping list for my annual cleanse, did full cleaning and maintenance on all computers, and finally am deleting all those "Trading" files full of;

charts, backtests, training books and videos, indicators, journal entries, articles... 187,439 files that were way overdue.

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2014 will not be so complicated.

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  #60 (permalink)
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When you remove the emotion, trading nearly takes care of itself.

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