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Gambling (with life)

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Gambling (with life)

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  #91 (permalink)
Experience: Beginner
Platform: TradingView
Broker: roboforex,binance/huobi
Trading: equity
SomePsychoDude's Avatar
Posts: 39 since Mar 2021
Thanks: 25 given, 29 received

SBtrader82 View Post
I think that trading is an intellectual activity and since only 1-5% or traders make money, it is fair to assume that those who make money are somewhat smarter than the average, or at least have more formal education in math or finance related material.

How honest can we be about our mental abilities? can we admit to ourselves that we are not smart enough?
What if we were like the guy with a mental deficit, nobody will ever tell us and we could jeopardize ourself and our family.

I suggest a couple of "proxies" to gauge our intellectual abilities:
1) IQ test
2) univeristy/school grades
If you were among the worst students in your class you were probably not smart enough or disciplined enough. What makes you believe that with trading you will be different?

I know this is not politically correct. But we cannot be all in the top 1% of the IQ bell shape.

It doesn't mean anything. Trading is not an intellectual job, it's a psychological war between you vs you and everybody else. I would never bet on the person just because he/she is smart, will become a successful trader. But I would bet on the person that comes from military, sport, "by the book" jobs backgrounds. Or for example, persons that are non-conformist.
Iq tests, grades, and shit like that is the last thing to watch. In the end...if you are so smart, why you are so poor?

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  #92 (permalink)
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bobwest View Post
How about managing the impact of losses so it doesn't seriously affect the rest of your life? Or what problems you have had that were brought on by trading losses and how you got out of them, if you have? Or anything else that would be closer to the topic and would be of some actual value? Just suggesting....

You asked a personal question, and here is a personal answer.

I remember years ago, standing in my kitchen, crying, after I blew up 60% of my account revenge trading CL. It's funny to me today, but back then, I felt like a truck ran over me. Brutal.

I did make a turnaround, both in my trading and in my life. I credit my spiritual practice for all that - meditation and also, letting go of my own greed, of letting go of being attached to 'success' (now I consider the ONLY measure of success the amount of joy that I experience in my life on daily basis).

These days I trade not out of inner feelings of lack or greed, but because I enjoy it, because I was born to do this. I don't worry or put pressure on myself to 'make money'. Money simply comes when my energy is aligned with my Deepest Self. Success is an automatic consequence not of trying hard or fighting with the market, but listening to my own Inner Guidance, letting go, and being my best and wisest Self. That's all. It has never been easier for me to make money.

You are never in the wrong place... but sometimes you are in the right place looking at things in the wrong way.
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  #93 (permalink)
Idaho, USA
Posts: 11 since Sep 2021
Thanks: 7 given, 1 received

Excellent post on something that needs to be talked about. Thank you!

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  #94 (permalink)
Paducah KY United States
Posts: 7 since Sep 2021
Thanks: 2 given, 1 received

I have to wonder if it should make a difference in how we feel taking a loss when we overlook something that we should have seen vrs losing to an institution trading with special privileges like lvl4 data that allows them to fill in a particular order.

If you lose to your peers because you were careless should that be different than losing to something way beyond your capabilities

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  #95 (permalink)
Boca Raton, FL
Posts: 182 since Nov 2018
Thanks: 55 given, 132 received

A loss is a loss.

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