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Just BEING a Trader: Letting Go!!


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Just BEING a Trader: Letting Go!!

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Why be so obsessed with Money?

How about being a trader because you LOVE being a trader?

And that probably is the secret of being a SUCCESSFUL trader - just BEING!

Just be, let go of the profits.

Let go of the losses.

Let go of the missed trades.

Let go of targets, schedules, over-analyzing, over-journaling, over-planning.

Just Be!!

And watch the magic happen to your account, and how you naturally buy low and sell high!!

Side benefits:

Ego: Dissolves! Greed: has left the building! Fear: is denied entry!


P.S.:

These are all of my rules,
lest you think they are for fools,
Let me create this journal,
And show you my process so simple!

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A sample trade taken just now, will dive into the 'simplicity' part in the next posts:


LMAX Trade 1 futures

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iqgod View Post
Why be so obsessed with Money?

How about being a trader because you LOVE being a trader?

And that probably is the secret of being a SUCCESSFUL trader - just BEING!

Just be, let go of the profits.

Let go of the losses.

Let go of the missed trades.

Let go of targets, schedules, over-analyzing, over-journaling, over-planning.

Just Be!!

And watch the magic happen to your account, and how you naturally buy low and sell high!!

Side benefits:

Ego: Dissolves! Greed: has left the building! Fear: is denied entry!


P.S.:

These are all of my rules,
lest you think they are for fools,
Let me create this journal,
And show you my process so simple!


Very well said, I fully subscribe to that!

Looking forward to your journal.

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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iqgod View Post

Let go of the losses.

Let go of the missed trades.

Let go of targets, schedules, over-analyzing, over-journaling, over-planning.

Just Be!!

Powerful words and thoughts! Let's see where they will take you.

“Happiness is the meaning and the purpose of life, the whole aim and end of human existence.” Δ

“There is no path, but only a fool wouldn’t follow it.”
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Will be looking forward to your journal. Love the first line, "why be obsessed with money"

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iqgod View Post
Why be so obsessed with Money?



How about being a trader because you LOVE being a trader?



And that probably is the secret of being a SUCCESSFUL trader - just BEING!



Just be, let go of the profits.



Let go of the losses.



Let go of the missed trades.



Let go of targets, schedules, over-analyzing, over-journaling, over-planning.



Just Be!!



And watch the magic happen to your account, and how you naturally buy low and sell high!!



Side benefits:



Ego: Dissolves! Greed: has left the building! Fear: is denied entry!





P.S.:



These are all of my rules,

lest you think they are for fools,

Let me create this journal,

And show you my process so simple!



There’s more wisdom here then meets the eye. You could make a fortune selling a book on this one concept. I’m looking forward to reading your progress.


Sent using the futures.io mobile app

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Thank you for this message! I too am looking forward to your journal.

This is a mindset I am trying to adopt.

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So what, exactly, is simplicity?

In trading it is understanding the concept outlined in the two pages below:


Page 1


Page 2



Understand this and you have mentally grasped the game. But this is not an observation game! It is a game that needs to be played, albeit from your armchairs, but played it must be!

Even simpler: Don't lose more on a trade than you make on a trade.



Simple? Yes.

Easy? Yes. Err... No!


Read on...

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What is the simpleton's simpleton idea of their reasons for success?

FAITH!

More than one trading book authors stress on this aspect - this is the third pillar of Simplicity.

For something to materialize, you need to BELIEVE it is going to happen.


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So we are building a trading cake here... to reach the cherry on the top, we place the base of FAITH at the bottom.

What next?

When you have enough faith in yourself you will be ready to pile up one layer higher...

And what layer is that?

COURAGE.

The courage to pull the trigger in face of maddening uncertainty and sticking to your guns amidst the shifting landscape.


But lest we get carried away here's what this is NOT:

Courage is not shooting from the hip.

Courage is not do-or-die reckless trading in the face of circumstantial evidence that you are getting it on the face.

Courage is not even about showing up every single day.


Coming to what it IS:

Courage is simply a state of being - it is not putting your mortal self between you and your trading.

Courage is the ability to be formless - the ability to stand away when there is no pressing need to be in the fight.

Courage is the uncanny ability to have ample ammunition when you need it - because of being backed by Faith.

Courage is the power to use the ammunition rightly and judiciously to support your Faith, without wavering at the last moment, without chickening out.

And of not having to explain yourself to anybody, anyone, because it is after all the Courage to Stand Alone.


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Great post!

Definitely something to read and think about every single day before you enter the battlestation....

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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Here is a good method to get a grip on Fear... to remember that you are not your Fear.

Practical Fear Mastery


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Perfectionism


What happens when we are riddled by perfectionism


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After Perfectionism, I would like to point out the subtle trap of Consistency!!

Be consistent with your approach, habits and methods, but making widgets out of every market analysis and trying to robotically execute is a silent killer!!!

Before you protest, read on and then decide...


Overattachment


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There are two aspects I battle daily... one that stokes my ego that says 'You have gone pro, baby' which sets up a sure sore losing trade as if to remind me.

The other is the always haunting Anxiety when entering or when in a trade.

Anxiety buster that I use daily (using a pen and paper):



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The other way we use anxiety is what seems to us 'productive'.


Since we are so anxious about what will happen next, we try to remove that uncertainty.

We endlessly analyze, analyze, analyze.

In fact, we do this to such an extent that we seem to be using our 'anal eyes'


And the whole thing is nothing but insanity - going bonkers to find certainty in a market where uncertainty is more of a given than stability.

So what's the way out?

At some point, we realize that Everything is in front of us,

Realize!

Use your 'real eyes'!


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And, if you are on a profitable streak, which everyone goes through until there aren't:


Withdraw periodically


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You are profitable (or even break-even)?

Great!

Now look out for this hidden iceberg lurking - I've dealt with this one, more times than I'd like to mention:



Hidden Motives


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Mind open to learning AND accepting responsibility



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I made money yesterday, but the day before I had five losing trades in a row.

All of them were ES longs in a raging bull market (yesterday the market traded both ways, this is about the day before), but all of them were stopped out.

But I am not proud of those five trades, I took them in 'wrong' places - I lost a little in each, so not an expensive lesson.

But many a time losers happen and there isn't anything I would have done differently in each of those trades - - they are variance' way of saying that the market is the market.

You need to be you.

Every trader is unique and different which is why there are so many varied methodologies making money.

Genuineness. Trade from the heart. (and once that happens there won't be emotional trading anymore)


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But I am not proud of those five trades, I took them in 'wrong' places - I lost a little in each, so not an expensive lesson.

But many a time losers happen and there isn't anything I would have done differently in each of those trades - - they are variance' way of saying that the market is the market.

That's contradictory, why wouldn't you do anything different if you took them in the wrong place?

If you followed your plan and ended up with a loss then in my opinion you had a good trade with a bad outcome. You can be proud of those trades.

"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
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That's contradictory, why wouldn't you do anything different if you took them in the wrong place?

If you followed your plan and ended up with a loss then in my opinion you had a good trade with a bad outcome. You can be proud of those trades.

Ah yes, you are right! I had composed the post thinking I had taken the trades correctly then on penning it down had realized I was in a tearing hurry!

Thanks for pointing it out!


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This is something to consider when you are on a losing streak:


Bramhachari Mode On


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It would be cool if you credited all of the text you are posting. It's all very good.

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iqgod View Post
This is something to consider when you are on a losing streak:


Bramhachari Mode On

Just curious, are you "Brahmachari"?

Has that actually helped in trading? It would be really really interesting to gather data of cases based on these;
1. Married/partnered, with supportive spouse for trading
2. Single, with individual effort towards trading
3. Married/Partnered but spouse in the dark about trading (would be hard to achieve in live in relationship but doable if its just ones in a while stay overs)

I guess, something like correlation analysis would be real good here, sorry but my usually latent researcher is popping its head out atm.


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It would be cool if you credited all of the text you are posting. It's all very good.

I've been receiving lots of PMs requesting me for the sources.

I've quite a huge collection of trading books, most rubbish, some average, and a very very few that hit the nail on the spot.

So till now here are the two books I've used:

Mindtraps: Mastering the Inner World of Investing by Roland Barach

Mindtraps : mastering the inner world of investing
by Barach, Roland

Publication date 1988
Publisher Homewood, Ill. : Dow Jones-Irwin

You can borrow it for free from:
https://archive.org/details/mindtrapsmasteri00bara_0

And a very few were from:

The Art of the Trade: What I Learned (and Lost) Trading the Chicago Futures Markets
Published October 1st, 2008 by Wiley


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Just curious, are you "Brahmachari"?

Has that actually helped in trading? It would be really really interesting to gather data of cases based on these;
1. Married/partnered, with supportive spouse for trading
2. Single, with individual effort towards trading
3. Married/Partnered but spouse in the dark about trading (would be hard to achieve in live in relationship but doable if its just ones in a while stay overs)

I guess, something like correlation analysis would be real good here, sorry but my usually latent researcher is popping its head out atm.


Well, I'm happily married but my spouse does not like me trading at all.

I started trading twelve years ago and kept losing losing losing good amounts for ten years.

And I have a day job (which I love) which probably softened the blows of the market.

But looking at the dedication, her stance has softened a bit, just a bit. :-)

Hope that helps.


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Just curious, are you "Brahmachari"?

Has that actually helped in trading? It would be really really interesting to gather data of cases based on these;
1. Married/partnered, with supportive spouse for trading
2. Single, with individual effort towards trading
3. Married/Partnered but spouse in the dark about trading (would be hard to achieve in live in relationship but doable if its just ones in a while stay overs)

I guess, something like correlation analysis would be real good here, sorry but my usually latent researcher is popping its head out atm.


So there is no 'conclusive' proof I can show you given my 'status' but I have noticed that the days I treat the market as a professional occupation i.e. a non-release, non-orgasmic, non-destination-consciousness and GIVE myself to trading instead of 'trying to suck its marrow dry into my coffers' attitude, I find a sense of balance that does not throw me into wild emotions during the trading hours and the balance continues beyond.

What you bring to the table from a 'passionate' state of wanting is very dissipative whereas without any needs and wants the game becomes much much much less stressful and a lot of fun.

Just my observations.


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Viewing the market correctly is the first step



Your approach is determined by your intrinsic view.

In the next four posts I would like to highlight the four views/positions traders take that are apt to be profitable in increasing order.


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Which one is the current you?

Your Program Determines Your Trading Destiny




Program 4 makes the most money, IMHO!

Here it is important to state: This 'Fun' thing is not the gambling rush - in that rush (a kind of madness) you feel hollow somewhere and are trying to swoosh in that vaccum by the thrill of winning - here 'fun' refers to the ease at which you come to the market, go about your business and actually sing while trading!


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Self-preservation = F.E.A.R.= does not equate to capital growth or capital preservation


Fear = consistent losses, check your journal!!!


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Great posts with many very precious nuggets and words of wisdom....

Thanks for sharing them!

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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Daytrader999 View Post
Great posts with many very precious nuggets and words of wisdom....

Thanks for sharing them!

I really hope people (and that includes me) take them to the heart - these are precious bits of information paid for by real knots in the stomach and real ulcers in the mouth. :-)

Credits: The last two nuggets (and the two that follow) are from 'Chaos Trading' by Bill Williams.


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Greed is good for ANALYSIS, but again not for trading!



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Have Fun


When You Have Fun, You Have Funds


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@Big Mike inspired me to post this poem - it's about a seemingly 'non-supportive spouse'. I thought I had lost it, but luckily it still was tucked in somewhere in my diary

I wrote this poem sometime in the lockdown, and though my wife did not offer support for trading (and equated it to gambling), she was eventually to point the way to the golden middle that came to me as 'balance'. I wrote this poem for her, even though there is no direct support - sometimes 'no support' can actually mean tonnes of silent support by offering discipline instead of pandering to and spoiling an 'already spoilt child'. When you have no excuses left to give her, and turn inwards, and find that your sense of balance was off and waiting inside you all the time :-) :


When I was
an incomplete person
From work I took a pause
To quickly earn a ransom

I took to trading
it seemed
a quick way of printing
Money in reams

I made a pile
Thousands by the hour
And my bile
Tasted my tongue, was sour

I did not mind
My deteriorating health
I was focused hook, sinker, and line
On wealth, wealth, wealth.

She warned me of a-change in Miss Market's style
Dangers of these easy riches without strife
And told me to look yonder
On this thing called life.

But, you know, as it always happens
I ignored her sage advice
But was disappearing, my confidence
And slowly lost most of my dimes.

I almost lost my mind
And though she wouldn't pet me
Her look was both stern and kind
And she gently stood beside me.

Many a time I ignored my duties
And spited her for working overtime...
But suddenly in her words, I could see beauty
Slowly but surely her words began to rhyme.

When I took it slowly
And focused on myself, my family for a while
I sensed how trading turned holy
And finally could take it in my stride.

Sometimes when your wisdom lights go out
Your spouse sometimes holds a candle
In the middle of your dark blackout
And it's a faint glimmer in a losing battle.

The light that shines
Illuminates
Deepest recesses of your mind
And liberates both you and your soulmate.


My humble attempt at poetry.


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Trading is all about action.

But the basis of ACTION in your plan is:


ACTION plan


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The easiest way for me to accept something is to offer that very thing to something bigger than myself - a concept, integrity, honor, love, anything but the limiting self!



Which means you accept RISK - And anyway, for a wise man, ignoring Risk is, well, risky!!



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I will trade RIGHT:

Optimism



As opposed to 'I k
new that I would suck at it' and then it manifests and we usually do:
Pessimism


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Learn the hard way first,
unlike me.

Don't learn the hard lessons
by taking a shortcut

Save years and years of your precious life by doing it the hard way, please!

Faith is Earned Not Bought


Bonus: The hard way is the FUN way!!!!!!


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Credit:

The A.C.T.I.O.N. plan which includes the past few posts is from the book:

The Way of the Warrior-Trader
by Richard D. McCall

Publication date 1997
Publisher McGraw-Hill



Borrow the book at no cost, thanks to the internet archive:

https://archive.org/details/wayofwarriortrad00mcca


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Yesterday I almost lost my poise in the volatility and had a slightly bigger loss.

Let a loss make you wiser instead
of making you depressed

Hence, even more pertinent in all this volatility, that means you have to keep that loss small.


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On another thread someone posted a statement that got me thinking:

When good traders trade well they feel good,
When great traders trade well they feel nothing.

Zen Koan



“The novice says to the master, ‘What does one do before enlightenment?’
Chop wood. Carry water,’ replies the master.
The novice asks, ‘What, then, does one do after enlightenment?’
‘Chop wood. Carry water.'”

Although it appears nothing has changed on the outside (doing), everything has changed on the inside (being).

On the surface, the visible, external actions of chopping wood and carrying water are the same before and after enlightenment. So, what’s changed?

The deeper invisible and internal—your presence, awareness, perception, mindset. Your body may be busy, but your mind is still. You are present instead of preoccupied.

And that makes all the difference.
And you are on your way to feeling nothing.


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