The US saltwater universities are full of ignorant socialists. How can they dare not to believe in the unviersal power of money? McCarthy would never have allowed that such subversive theories be published and undermine the foundations of capitalism.
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nice to hear you are still alive. How is your bat doing?
Asking about McCarthy, then you are probably not old enough to have known him. He stands for decision heuristics based on rooted beliefs and the subconscious. Just to say, the invisible hand and conventional economics has much in similar with creationism. It ignores empirical evidence and instead deducts its limited wisdom from whatever is availble. Minsky and Mandelbrot have never got the attention they deserve and the science of economics has basically lost 30 years, because it has adhered to the "Concept of Conventional Wisdom", as described by John Kenneth Galbraith in his book "The Affluent Society".
In the US these beliefs are firmly rooted in the bible belt and promulgated by the freshwater universities. After all Chicago the the center of conventional economic wisdom. But reality is more complex than economist have imagined, there are no equilibriums, but non-linear relationships between the different aggregate, which cannot be mastered. See paper below which puts up a 90 add equatitios to study the macroeconomic behaviour of just two model economies.
The monitor lizard stands for the lost world of evolution, there are still an estimated 5,000 around on a few Eastern Indonesian islands, as compared with the 40,000 odd orang utans. It could have been something else. Monitor lizards are 100 kg weighing predators that use venom toxin to kill their pray, sort of big snakes with four legs. Not a sympathetic encounter in the real world.
The world of economics and the world of trading is very similar to the world of evolution of species. None of them seems to be understood by politicians and many scientists, because it is counter-intuitive. Our mind rejects complexity and prefers simple solutions and messages which can be stored and conveyed in our modern world of images.
The inquisition is still underway, McCarthy has never died, and monitor lizards or orang utans are symbols of a past which will not return.
I think Lefevre's 'Reminsinces...' has some of the best insights on the innter battle that I've ever read. It's all about fear vs greed. A couple of things I picked up were:
It's NEVER too late to get out of/into a trade
Be prepared to admit you are wrong and TAKE THE LOSS.. it might get a lot worse.
I'll give you an example. I went on honeymoon at the end of july and lost a lot of money becasue I had a big holding of Uk bank shares and we had a market rout and I wasn't monitoring the markets. However, Although I'd lost a load of money, I could see that things weren't going to get better, the news and fundamentals were both terrible. It was tempting to hang on rather than swallowing the loss, but Lefevres words were ringhing in my ears. I sold everything, and the next day there was another plummet.
Anyway.. get the book, it was written almost 90 years ago, but that's irrelevant, as the phsychology hasnt changed since speculation and investment was invented. It's fascinating to think that your inner turmoil is exacly the same as some guy thousands of years ago trading grain in rome, or rice in Peking was experiencing.
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Cory this is a very interesting video. To me this explains, at least in part why there are so many generous contributors in this forum. The thread, that invites novice traders and non-programmers to obtain help from the more skilled members shows these theories in action.
May I also ask you to explain what a MADA practicioner does?
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That was a very interesting video.
I brings you to the core of the foundation deep inside every human. "the desire to feel important"
People wonder why gang members will rob and kill others and do things that just dont make sense. The only reason they do is because in their group, they feel important. They are willing to die for it.
Did you know that about 50% of all people that are declared insane, are really not. Those people have actually went into a false reality or fantacy world, where, in that world, they mean something or make a difference.
You can have anything you want in this world, if you treat people right and ginuinely care and listen.
If a bum on the street started talking to me, I would listen. Because thats probably how he ended up there...
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I know this thread started long time ago, but since I just joined the forum, I also want to comment about this and I hope I can also get some suggestions.
George, this is a great thread, all the info you have written is such valuable. I´ve been also studying this topic during the last year and I totally agree with you.
As you said the standard methods to reprogram the subconcious are based on affirmations and visualizations. They became more popular after the following books were written;
"The Law of Mentalism" written by Victor Segno at the beginning of the 1900 century,
" Think and Grow Rich" written by Napoleon Hill by around 1937
"The Science of Getting Rich" written by Wallace D Wattles around the same time.
After that many other methods have emerged. In another thread I mention many of them like: meditation, hypnosis, listening to binaural or isoncronic audios, writing life scripts or essays only using possitive language, subliminal audios and videos.
Some others more recent like Sun Gazing, Watching the light of a Candle, Universal Energy etc.
We also have the gurus of the Law of Attraction and all their programs like Bob Proctor and his Six minutes to success, Dr Rober Anthony and his Secret of Deliberate Creation program and his other programs, Anthony Robbins, Joe Vitale etc.
When I started a thread similar to this one, I asked for another method that could help to reprogram the subconcious. Someone told me about the Sedona Method that I have not heard before and it is exactly the method that you George were recommending.
Since you George started that method more than two years ago, could you share with us all the effects that it has had in your life and in your trading business, please?
I am half way of the Sedona Method home study course, however, I find hard to release, to let go. Could you give me some advices that worked for you?
I know the Sedona Method is for releasing and cleaning the subconcious, and many of the other methods I mentioned are for the reprogramming.
What do you think about the Silva Method, have you tried it? Have you been following only the Sedona Method or have you combined it with something else?
I really appreciate your help or anybodys on this and I thank you in advance.