Broker/Data: Advantage Futures, Ninja/TT and InvestorRT/IQFeed.
Favorite Futures: Treasury futures
Posts: 275 since Nov 2010
Thanks: 165 given,
Losing is part of the business, just like losing points is part of a tennis match, even if you eventually win. To me, being in the sweet state does not mean being happy, it means being totally unemotional, observing the action and learning from it, responding to it, observing your responses and learning from them too.
If TigerTrader ripped your heart out, it is because you bared it to him. Remember, he doesn't even know you exist, he just knows that price action has certain tendencies.
Think about losing this way: if you're playing the nickel slots at a casino, you pull the lever and no money comes out, you don't get upset because you lost money on this pull, you just put another nickel in the slot and try again and you do that until you've used up the risk capital you brought with you. And that's while doing something where you KNOW the odds are against you. Trading is a statistical process, and you need to keep that in mind with every bet you make. You're going to lose a significant percentage of the time. Don't get upset about Tiger taking your money, get upset when you break your discipline and double up when you should have gotten out, get upset when you failed to take a good setup because you were playing Solitaire. Good traders really do not get upset when they follow their plan and it doesn't happen to be profitable this time.
"You don't need a weatherman to know which way the wind blows..."
Last edited by jstnbrg; March 14th, 2011 at 06:14 PM.
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hmm, let's say every time you lose, you get PUNCHED in the face ... so if you asked, "What's wrong with being Punched in the face?" Well, I guess a 2 year old would know that answer. But I'll be Direct in answering your question....I don't like losing trades. How obvious can it be...
hmm, well this thread is "going beyond psychology..." so, there will be some spirituality in this. Allow me to give you universal principle so you can grasp the situation:
"I can do all things through Christ who strengthens me." Philippians 4:13
So my "Direct" answer to you question is....YES
Wow, I agree with you, but didn't you read my post? Ah, that's why I asked...
Wow, I this answer is soooo enlightening .... DUH!!!
Why don't you re-read my post and perhaps you can answer the question more DIRECTLY the way jstnbrg did, in fact his answer was SPOT ON!!!
Because when you answer a question with a question....it's very murky...I'm looking for CLARITY. I know you can do it, because when aztrader9 gave the definition of shivaya, you provided and answer that cleared any possibility of confusion.
"Faith is the substance of things hoped for, the evidence of things not seen." --- "Therefore, I Believe it and I will see it. And every day and in every way, I am healthier, wealthier, and wiser."
Well my trading is all wrapped up in my own pesonal belief. I'm a christian, and belive in Christ. Some of the books I have read are the "Power of Now" and " Sermon on the Mount". Those books ask that you blieve a paticular thing about the world and your relationship to it. Now you can believe this on blind faith, or put it to the test. Thats the part I really like! Putting it to the test. Putting all the meditation and the oh so good feelings about "God" where ever he is, to the test.
I mean I want to know that it is real. I want to know I can pray and get results. Now this is something important to my trading, because I'm not often sure what course to take, my experience with trading has been painful and spirituial. Only recently since I've been visiting this site has my trading improved to where I'm actually winning.
However their has been nothing since I first learned of trading that has not been brought to me, in one way or another through prayer. Always and without exception I've found that the prayer should be, not to make me, but to teach me. I use to pray "GOD HELP!" LOL. Now I pray help me to be a profitable trader, guide me to what I need to be a profitable trader. I've figured it out, atleast for me, that God will give you exactly what you ask for. But if your just yelling help help help, He's asking what do you need help with.
So for me trading is far more than making money, being yoru own boss. For me it has to do with putting to the test, "God" and if "He" is real, and that "The Bible" is true, than I should be able to pray, and receive help from Him. Help that would not of come to me, had I never prayed at all.
Many years ago I sat with a room of budding daytraders. They had all advanced enough to trade live real money.
Today was their first day to 'pull the trigger'.
The good part for them was they would be putting trades on my house account. I was taking the financial risk.
They were taking the 'FEELING of RISK' Few took a trade. All got out within a nano second!
Losing money is the easy part of trading. The 'feeling of losing' is what has to be dealt with. Once you can accept that losses are just 'costs' progress is rapid.
As soon as you leave your sweet spot the risk of additional losses increases dramatically. So why leave?
I do not care one bit what any trader says or does or writes. GOING BEYOND is THIS... I trade from within, I listen, I appreciate all my analysis skills, I wait and I pounce. Then I manage and scale out and finally let my runners take what is available. Then I analyse my results and update my trading log. All the time I am in a sweet state of 'Thanks Market'. This is Empowered Trading.
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